Showing 113 - 120 of 282 results
Press Releases
Press Releases FRC welcomes the Government’s vaccination leave initiative 31 May 2021 FRC Press Statement on New Inspection Regime of the Companies Register 18 May 2021 Process Review Panel for Financial Reporting Council publishes 2020 report 10 May 2021 Financial Reporting Council welcomes the 2020 Annual Report of the Process Review Panel 10 May 2021 FRC signs Memorandum of Understanding with HKICPA 6 May 2021 FRC Announces Appointment of Honorary Advisers 15 April 2021
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
Press Releases
Press Releases New Memorandum of Understanding to strengthen collaboration between the HKMA and the AFRC 17 August 2023 Audit Focus - Importance of effective audit planning 31 July 2023 SFC and AFRC join forces to combat misconduct by listed issuers 13 July 2023 AFRC 2022 Annual Inspection Report provides transparency about audit quality and holds firms accountable for their performance 11 July 2023 AFRC welcomes the new appointment and reappointments to the Financial Reporting Review Panel and expresses heartfelt gratitude to retiring members 7 July 2023 AFRC issues its 2022-23 Annual Report 23 June 2023
Press Releases
Press Releases ICAC signs MoU with FRC to enhance collaboration in upholding the integrity of the financial market 29 September 2021 FRC collaborates with IFEC to promote financial literacy on audit related topics to retail investors 8 September 2021 FRC completes second investigation with working papers obtained under MoU with the Supervision and Evaluation Bureau of the PRC Ministry of Finance 23 August 2021 FRC investigates Next Digital financial statements and audits 18 August 2021 Further reform of accounting profession regulatory regime 16 July 2021 FRC welcomes new appointments and reappointments to the Financial Reporting Review Panel and expresses sincere gratitude to retiring members 15 July 2021
Press Releases
Press Releases AFRC suspends Lam Kin Choi for 2 years and fines him HK$300,000 for flagrant disregard of two statutory requirements in relation to inspections of two practice units 28 May 2024 AFRC welcomes CSRC’s five measures on capital market cooperation with Hong Kong 22 April 2024 AFRC Acts on PricewaterhouseCoopers Whistle-blower Allegations 19 April 2024 AFRC meets with the General Union of Hong Kong Accounting Professionals and Staff to discuss the sustainable development of the accounting profession 17 April 2024 AFRC welcomes the Government’s appointment of the Chief Executive Officer and Executive Director of the AFRC 9 April 2024 Cross-Agency Steering Group and International Sustainability Standards Board members met in Hong Kong 27 March 2024
Press Releases
Press Releases Government welcomes annual report of Process Review Panel for Accounting and Financial Reporting Council 1 September 2023 AFRC welcomes the 2022 Annual Report of the Process Review Panel 1 September 2023 AFRC appoints Mr Hui Leung-wah, Herbert as Honorary Adviser 1 September 2023 AFRC reprimands Centurion ZD CPA Limited, Chan Kam Fuk and Ling Chun Kwok for serious breaches of professional standards, imposes pecuniary penalties totalling HK$700,000 and cancels the practising certificate of Chan Kam Fuk for 12 months 29 August 2023 Global recruitment exercise for CEO of AFRC commenced 25 August 2023 AFRC Announces the Retirement of CEO Mr Marek Grabowski 25 August 2023
Process Review Panel
The establishment of and appointment to the PRP were approved by the Chief Executive of the HKSAR.
AFRC imposes HK$300 million fine and six-month practice limitation on PricewaterhouseCoopers and HK$10 million in fines on its two former registered responsible persons over the Evergrande Audits
PwC acted as the reporting accountant for the Company’s listing in 2009 and subsequently served as the Company’s group auditor from listing until early 2023. ... By doing so, the Auditor placed itself in a position where it would be auditing its own work. ... The enforcement action against the engagement partner is still underway. [4] For the avoidance of doubt, during the limitation period, any reappointment to continue as auditor by an existing client and appointment as an auditor by an existing client newly listed in Hong Kong are not restricted by the practice limitation.