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Press Releases
Press Releases Appointments to Advisory Committee of Accounting and Financial Reporting Council 29 July 2022 FRC welcomes the establishment of the Advisory Committee of the Accounting and Financial Reporting Council and the appointments of its Members 29 July 2022 Process Review Panel for Financial Reporting Council publishes 2021 report 20 July 2022 FRC welcomes the 2021 Annual Report of the Process Review Panel 20 July 2022 Appointments to Financial Reporting Review Panel 15 July 2022 FRC welcomes new appointments and reappointments to the Financial Reporting Review Panel and expresses heartfelt gratitude to retiring members 15 July 2022
CPA (practising)
Only a CPA (practising), a CPA firm or a corporate practice registered with the AFRC can hold an appointment or render a service, whether paid or unpaid, as an auditor of a company under the Companies Ordinance (Cap. 622) or accounts for the purposes of any other Ordinance.
Press Releases
Press Releases FRC welcomes the Government’s appointment of the Chief Executive Officer and Executive Director of the FRC 8 October 2020 FRC appoints Ms Grace Hui as an Honorary Adviser and a Member of the Inspection Committee 7 October 2020 FRC Expresses Profound Gratitude to the Retiring Non-Executive Directors (NEDs) and Welcomes the Government’s Appointment/Reappointment of NEDs 10 September 2020 FRC Welcomes the Appointments to Financial Reporting Review Panel 9 July 2020 Completed investigation on the audit of the consolidated financial statements of a listed entity for the year ended 31 March 2017 9 July 2020 Financial Reporting Council welcomes the 2019 Annual Report of the Process Review Panel 24 April 2020
Inspection Committee
Mr Roger Best, MH, JP Chairman From 2019-10-01 Current appointment expires on 2026-09-30 Mr Roger Best, MH, JP Chairman From 2019-10-01 Current appointment expires on 2026-09-30 Mr Best was a partner of Deloitte Touche Tohmatsu and is a former President of the Hong Kong Institute of Certified Public Accountants. ... Ms Ivy Cheung Member From 2021-10-01 Current appointment expires on 2027-09-30 Ms Ivy Cheung Member From 2021-10-01 Current appointment expires on 2027-09-30 Ms Cheung is the Senior Partner of KPMG Hong Kong. ... Ms Grace Hui Member From 2020-10-06 Current appointment expires on 2026-10-04 Ms Grace Hui Member From 2020-10-06 Current appointment expires on 2026-10-04 Ms Hui has over 20 years of banking and finance experience.
Honorary Advisory Panel
Ms Ivy Cheung Member From 2021-10-01 Current appointment expires on 2027-09-30 Ms Ivy Cheung Member From 2021-10-01 Current appointment expires on 2027-09-30 Ms Cheung is the Senior Partner of KPMG Hong Kong. ... Dr Christine Chow Member From 2021-04-15 Current appointment expires on 2027-04-14 Dr Christine Chow Member From 2021-04-15 Current appointment expires on 2027-04-14 Dr Chow is an Adviser to Crystal Investment Group. ... Mr William Mak Member From 2021-10-01 Current appointment expires on 2027-09-30 Mr William Mak Member From 2021-10-01 Current appointment expires on 2027-09-30 Mr Mak was a partner of PwC Hong Kong.
Investigation and Compliance Committee
Ms Cindi Hui, MH Member From 2025-10-23 Current appointment expires on 2027-09-30 Ms Cindi Hui, MH Member From 2025-10-23 Current appointment expires on 2027-09-30 Ms Hui is a Partner of Iu, Lai & Li Solicitors and Notaries. ... Mr Stephen Hung, MH Member From 2022-10-28 Current appointment expires on 2026-09-30 Mr Stephen Hung, MH Member From 2022-10-28 Current appointment expires on 2026-09-30 Mr Hung is a Past President of the Law Society of Hong Kong. ... Ms Janey Lai Member From 2024-10-21 Current appointment expires on 2027-04-08 Ms Janey Lai Member From 2024-10-21 Current appointment expires on 2027-04-08 Ms Lai is the Chief Executive Officer (CEO) and Executive Director of the AFRC since April 2024.
Governance Structure
Governance Structure Advisory Committee 1 Board 1 Honorary Advisory Panel 2 Committee 2 Process Review Panel 3 Financial Reporting Review Panel 4 Inspection Committee Investigation and Compliance Committee Discipline Committee Policy, Registration and Oversight Committee Finance and Corporate Affairs Committee Compensation and Nomination Committee Financial Reporting Review Committee 4 Board 1 Advisory Committee 1 Honorary Advisory Panel 2 Process Review Panel 3 Financial Reporting Review Panel 4 Committee 2 Inspection Committee Investigation and Compliance Committee Discipline Committee Policy, Registration and Oversight Committee Finance and Corporate Affairs Committee Compensation and Nomination Committee Financial Reporting Review Committee 4 Footnotes: Established under the AFRCO and their members are appointed by Government Officials designated under the AFRCO. Established by and their members appointed by the Board. Established in 2008 by the Chief Executive of HKSAR (CE) and its members are appointed by the CE to enhance the accountability of the AFRC. The members are appointed from amongst the members of the Financial Reporting Review Panel.
Corporate Practice
Only a CPA (practising), a CPA firm or a corporate practice registered with the AFRC can hold an appointment or render a service, whether paid or unpaid, as an auditor of a company under the Companies Ordinance (Cap. 622) or accounts for the purposes of any other Ordinance.