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AFRC Hosts Landmark Regional Regulatory Forum 2024

Mr Ian Stone advocated for ethical management and due diligence, stressing that audit committees should prioritise auditor quality over audit fees. Panel Chair Dr Kelvin Wong underscored the importance of auditors in maintaining the quality and integrity of financial reporting, concluding that quality audit practices and transparency are essential for a well-regulated market. Overall, cooperation among regulators, auditors, companies, and investors is vital for developing a sustainable and resilient financial ecosystem.

Whistleblowing Report

Whistleblowing Report Please use this form to tell us about your concerns if you think there is misconduct (see Q8 to Q11 in FAQ for definitions of "misconduct") of a certified public accountant ( CPA ) registered with the Hong Kong Institute of Certified Public Accountants, practice unit ( practice unit ) registered with the Accounting and Financial Reporting Council ( AFRC ) (including a practising certificate holder practising in his own name, corporate practice or CPA firm) or overseas auditor recognised by the AFRC to perform a public interest entity engagement ( recognised PIE auditor ) or non-compliance with relevant financial reporting standards in a listed entity’s financial report.

Associate Director

Direct the application and continuous enhancement of auditor registration frameworks to uphold professional integrity and public trust.

Associate Director / Manager

Conduct investigations into possible misconduct of public interest entity ( PIE ) auditors, registered responsible persons, and professional persons.

FRC to Investigate Accounts and Audits of China Evergrande and Evergrande Property Services in respect of Certain Transactions

Our purpose in reporting publicly The FRC publicly announces the initiation or extension of the scope of enquiries and investigations when considered necessary in the circumstances in order to protect the interests of shareholders and the investing public so as to maintain public confidence in our financial markets and independent auditor regulation.

Associate Director / Manager (Oversight and Policy)

Lead or support the continuous enhancement of the AFRC's risk-based auditor registration policies, drawing on market research and regulatory developments in Hong Kong and internationally.

AFRC Reinforces Commitment to Financial Reporting Integrity in Hong Kong

To address this pressing issue, the AFRC, in collaboration with the Financial Services and Treasury Bureau, the Inland Revenue Department, and the Hong Kong Institute of Certified Public Accountants (HKICPA), is implementing the following measures: Amendment of Hong Kong Standards on Auditing: All persons issuing audit reports will be required to display their practicing certificate number on the reports; Inclusion of Practicing Certificate Numbers in Tax Returns: Companies established in Hong Kong will be mandated to include the practicing certificate number of the auditor who issued their audit report in their profits tax returns.

Chairman and CEO's opinion piece: Getting an audit wrong can have profound consequences for credibility

Supervision and accountability In Hong Kong, auditors are independently supervised by the Accounting and Financial Reporting Council. ... It requires technical excellence and principled leadership — professionals with the integrity, skepticism, and courage to challenge management when it matters most. Auditors are gatekeepers, guided by rigorous professional standards and sound judgment.

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