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Speeches and Presentations
Speeches and Presentations Chairman Dr Kelvin Wong’s presentation at the 3rd Greater Bay Area Youth Forum 25 May 2019 Chairman's remark at Signing Ceremony of MOU on Cooperation in Audit Regulation between Supervision and Evaluation Bureau of Ministry of Finance and Financial Reporting Council (Chinese Version Only) 21 May 2019
FAQs - Non-Hong Kong PIE Auditor
The purpose of section 20ZF(2)(b)(i) is to ensure that the overseas auditor concerned is a qualified auditor recognized by the accountancy body in the home jurisdiction to practise audit. In the event that the overseas auditor is an audit firm / corporation and it is not a member of the accountancy body in the home jurisdiction, the eligibility criterion under section 20ZF(2)(b)(i) would normally be considered as having been fulfilled if a majority of the partners/directors of the audit firm/corporation are members of the accountancy body in the home jurisdiction that is a member of the IFAC.
AFRC announces appointment of new Honorary Advisers
With over 35 years of audit and assurance experience, he was a member of the Financial Reporting Review Panel (FRRP) between July 2018 and July 2024. ... His expertise includes regulatory compliance, cybersecurity, cross-border data management, IT Audit, and IT management. Mr Yuen is actively engaged in industry research, contributing to studies on Hong Kong's development as an international cross-border data center. ... He is currently a Senior Adviser at Information Systems Audit and Control Association (ISACA) and a member of CPA Australia.
Associate Director / Manager (Registration)
Policy, Registration and Oversight Associate Director / Manager (Registration) Responsibilities Evaluate and process applications for the issuance and renewal of practising certificates for certified public accountants ( CPA ), and for the registration of audit firms, corporate practices and Public Interest Entity ( PIE ) auditors. ... Collaborate with fellow regulators, professional bodies, audit firms and international counterparts to share insights and support a resilient, future-ready accounting profession.
Strategic Priorities 2025-2027
These priorities are aligned with our mission to protect the public interest by maintaining high standards in auditing and financial reporting, thereby fostering trust in Hong Kong's capital markets and the accounting profession.
Guidance Materials
Guidance Materials Policy and Governance Registration Inspection Investigation and Compliance Discipline Policy and Governance Registration Inspection Investigation and Compliance Discipline Policy and Governance Guidance Notes on Change of Auditors Guidelines for Effective Audit Committees – Selection, Appointment and Reappointment of Auditors Embracing an AI-empowered Future for the Accounting Profession Registration Guide for the Registration of PIE Auditors Guide for the Issuance of Practising Certificates Guide for the Registration of Firm Names and Firms Guide for the Registration of Corporate Practices Guide for the Recognition of PIE Auditors Policy Statement for the Issuance of Practising Certificates Policy Statement for the Registration of Firm Names and Firms Policy Statement for the Registration of Corporate Practices Policy Statement for the Registration of PIE Auditors Policy Statement for the Recognition of Overseas Auditors Inspection Guideline on Notification of Change in Auditor Appointment* Outline of the AFRC’s Inspection Process for PIE Auditors Outline of the AFRC’s Inspection Process for Practice Units that are not PIE Auditors Policy Statement for Inspection of PIE Auditors with respect to PIE Engagements Policy Statement for Inspection of Practice Units with respect to compliance with AntiMoney Laundering and CounterTerrorist Financing Requirements Policy Statement for Inspection of Practice Units with respect to engagements other than PIE Engagements Investigation and Compliance Investigation Policy Statement for PIE Auditors, Non-PIE Auditors and Registered Responsible Persons Investigation Policy Statement for Professional Persons Investigation Policy Statement (in relation to audits or the preparation of specified reports completed for listed entities before 1 October 2019) Enquiry Policy Statement for Listed Entities Discipline Outline of the AFRC’s Disciplinary Process Guidance Note on Cooperation with the AFRC Discipline Policy Statement for PIE Auditors and Registered Responsible Persons Discipline Policy Statement for Professional Persons Sanctions Policy for PIE Auditors and Registered Responsible Persons Sanctions Policy for Professional Persons Guidelines for Exercising the Power to Impose a Pecuniary Penalty for PIE Auditors and Registered Responsible Persons* Guidelines for Exercising the Power to Impose a Pecuniary Penalty for Professional Persons* Guidelines published in the Gazette pursuant to sections 13 and/or 37H of the Accounting and Financial Reporting Council Ordinance (Cap. 588) are marked with an asterisk (*).
Press Releases
Press Releases Completed investigation 7 February 2020 Completed enquiry and investigations 7 February 2020 The Financial Reporting Council e-newsletter (February 2020) issue gives insights and advice to the audit profession amidst challenging financial and socio-economic situations 6 February 2020 Completed investigation 4 February 2020 FRC Welcomes the Government’s Appointment of Executive Director to the Board of the FRC 6 December 2019 FRC and the HKICPA signed a Statement of Protocol on Oversight Arrangements 27 September 2019
AFRC urges CPAs (Practising), CPA Firms and Corporate Practices to renew registrations by 15 December 2022
This includes holding any appointment or rendering any services, whether paid or unpaid, as an auditor of a company under the Companies Ordinance (Cap. 622) or as an auditor of accounts for the purposes of any other ordinance (“ statutory audits ”). It is also an offence under section 20AAZZM of the AFRCO for any person who is not a CPA (practising) to sign an audit report.