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Finance and Corporate Affairs Committee

Finance and Corporate Affairs Committee The Finance and Corporate Affairs Committee advises the Board on finance, budgeting, audit of the AFRC’s financial statements, corporate communications, administration and other corporate matters of the AFRC. ... With decades of experience in Chinese Mainland and Hong Kong, her background includes auditing, talent development and business transformation.

FRC Announces Appointment of Honorary Advisers

Their wealth of experience respectively in investment management, with expertise in strategic governance, sustainability and impact investment, and in accounting and auditing, with expertise in providing forensic support in litigation and other disputes, will bring diverse perspectives and valuable advice to the FRC in dealing with regulatory and other matters for the benefit of public interest.”

AFRC concludes 2024-25 oversight of HKICPA’s specified functions and recommends improvement for professional training and development

These comprise: Enhancing standard-setting process by improving stakeholder representation and the timeliness of publications; Refining the project classification framework to reinforce governance over local guidance projects; Aligning CPD requirements with international practices by mandating ethics training for all CPAs, and accounting and auditing technical training for practising certificate holders; Implementing more targeted CPD trainings to better support small- and mediumsized practices and CPAs in business; and Enhancing the assessment criteria and guidelines for evaluating accredited programmes.

Whistleblowing

We appreciate any information you can provide, including where possible: The name and contact information of the listed entity and any audit firm or individual concerned; A description of the alleged misconduct or non-compliance: Please give us as much information as possible, especially if you have chosen to remain anonymous and have not given us any contact details; Copies of any relevant documents or records supporting the allegations in your report; and Your contact details (email, postal address or telephone), but only if you choose to do so.

AFRC takes first ever disciplinary actions against multiple practice units for non-compliance with anti-money laundering requirements and imposes fines totalling HK$290,000

AFRC takes first ever disciplinary actions against multiple practice units for non-compliance with anti-money laundering requirements and imposes fines totalling HK$290,000 5 March 2026 The Accounting and Financial Reporting Council ( AFRC ) has, in three separate cases, sanctioned the following audit firms and practitioners for failing to comply with the Guidelines on Anti-Money Laundering and Counter-Terrorist Financing for Professional Accountants ( AML Guidelines ), which form part of the Code of Ethics for Professional Accountants ( COE ): Prism Hong Kong Limited 1 ( Prism ); Mr Wong Ka Chun 2 ( Wong ); and Danny Ho & Company 3 ( DH&C ) and Mr Ho Oi Suen, Danny 4 ( Ho ).

FAQs - Corporate Practice

If you do not submit the renewal application to renew your current corporate practice registration, your current corporate practice registration will expire on 31 December this year and you are prohibited from issuing statutory audit reports under the name of your corporate practice from 1 January next year.

FAQs - CPA Firm

If you do not submit the renewal application to renew your current CPA firm registration, your current CPA firm registration will expire on 31 December this year and you are prohibited from issuing statutory audit reports under the name of your CPA firm from 1 January next year.

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