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Consultation on the Proposed Regulatory Framework for Sustainability Assurance in Hong Kong
Consultation on the Proposed Regulatory Framework for Sustainability Assurance in Hong Kong Background Sustainability challenges, particularly climate change, remain a critical global concern. ... Hong Kong must also act now to stay aligned with global best practices. This consultation marks a critical milestone in the HKSAR Government’s Roadmap on Sustainability Disclosures, published in December 2024. Consultation Resources In developing the proposals, the AFRC underwent a rigorous and consultative process.
Consultations and Studies
Consultations and Studies We proactively engage with our key stakeholders to facilitate communication in a way that promotes awareness and understanding of the latest developments and implementation of our policies and processes in a transparent manner. ... This ensures that our proposals serve the expectation of the public and improves public confidence in the regulation of the accounting profession. Our consultation and studies are listed below. Consultation on the Proposed Regulatory Framework for Sustainability Assurance in Hong Kong 30 December 2025 Consultation Conclusions in relation to FRC’s / AFRC’s Disciplinary Process and Sanctions Approach 23 June 2022 Engagement and Consultation on FRC’s / AFRC’s Regulatory Regime (English version only) 9 March 2022 Consultation Paper in relation to FRC’s / AFRC’s Disciplinary Process and Sanctions Approach 9 March 2022 Comparative Study on Audit Oversight Functions 5 June 2017 Consultation paper: Proposal to improve the regulatory regime for listed entity auditors 30 June 2014
FRC launches Engagement and Consultation Paper on further reform of the accounting profession
FRC launches Engagement and Consultation Paper on further reform of the accounting profession 9 March 2022 The Financial Reporting Council (FRC) today launches its Engagement and Consultation Paper on further reform of the accounting profession (“the Paper”). ... Please send your comments on the consultation documents on or before 4 May 2022, by email to: [email protected] . ... In conjunction with the five consultation documents, we also include in the Consultation Paper the following three engagement documents to provide the public more background about our disciplinary powers and approach to cooperation: F.
Financial Reporting Council publishes consultation conclusions on Proposed Sanctions Guidelines
Financial Reporting Council publishes consultation conclusions on Proposed Sanctions Guidelines 31 May 2019 The Financial Reporting Council (FRC) published its consultation conclusions on the proposed Sanctions Guidelines today, which summarised the views and comments received in the Consultation on Sanctions Guidelines (Consultation) conducted from 13 March to 17 April this year and our responses thereto. ... Dr Kelvin Wong, Chairman of the FRC remarked, “The FRC is pleased that our Consultation received an overwhelming response, a majority of which were highly supportive of and positive about our proposed Sanctions Guidelines. ... The FRC is thankful to those who have made their submissions and contributed their insights during the Consultation process.”
FRC issues (i) Consultation Conclusions and (ii) the 2021 Annual Inspection Report
FRC issues (i) Consultation Conclusions and (ii) the 2021 Annual Inspection Report 23 June 2022 The Financial Reporting Council (the FRC ) today issues the Consultation Conclusions and the 2021 Annual Inspection Report (the Inspection Report ). Mr Marek Grabowski, CEO of the FRC, said, “We are pleased to release the Consultation Conclusions and the Inspection Report. ... The Consultation Conclusions The Consultation Conclusions sets out the FRC’s conclusions to the consultation relating to its disciplinary process and sanctions approach in the Consultation Paper .
FRC establishes Sustainability and Climate Task Force
FRC establishes Sustainability and Climate Task Force 21 February 2022 The Financial Reporting Council (FRC) has established the Sustainability and Climate Action Task Force (SCATF). The purpose of the SCATF is to provide high level recommendations to the FRC Board on strategic actions that should be considered in relation to the global developments in financial and sustainability reporting. This should include a Climate Change Action Roadmap for the FRC that is aligned with Hong Kong’s Climate Action Plan 2050. ... Dr Kelvin Wong, Chairman of the FRC, remarked, “In light of the changing sustainability reporting landscape for listed entities and the increasing connection between financial and sustainability reporting, I have high hope that the FRC would greatly benefit from the expert advice and collective wisdom of SCATF regarding relevant strategic actions in the context of our regulatory functions and the market we regulate and operate.
Financial Reporting Council welcomes the consultation conclusions on proposed rule changes relating to disclaimer or adverse audit opinion on issuer’s financial statements published by The Stock Exchange of Hong Kong Limited
Financial Reporting Council welcomes the consultation conclusions on proposed rule changes relating to disclaimer or adverse audit opinion on issuer’s financial statements published by The Stock Exchange of Hong Kong Limited 24 May 2019 The Financial Reporting Council (FRC) welcomes the consultation conclusions on the proposed rule changes relating to disclaimer or adverse audit opinion on issuer’s financial statements published by the The Stock Exchange of Hong Kong Limited (the Exchange) today. ... In response to the Consultation, the FRC expressed its full support of the Exchange’s objective of encouraging issuers to maintain appropriate and effective risk management and internal control systems, and of requiring issuers to act promptly to resolve audit issues with their auditors. ... Dr Kelvin Wong, Chairman of the FRC remarked, “The FRC is pleased to note from the consultation conclusions that the Exchange has considered, among others, our comments.
AFRC Study Advocates for Improved Sustainability Assurance Practices and Urges Auditors to Incorporate Climate Risks in Financial Audits
AFRC Study Advocates for Improved Sustainability Assurance Practices and Urges Auditors to Incorporate Climate Risks in Financial Audits 27 January 2025 The Accounting and Financial Reporting Council ( AFRC ) today publishes a study on Market Readiness for Sustainability Reporting and Assurance in Hong Kong . ... As a member of the Green and Sustainable Finance Cross Agency Steering Group, the AFRC will develop a local regulatory framework for sustainability assurance for public consultation. ... Since sustainability assurance is voluntary, practices in Hong Kong vary.