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

AFRC Findings and Recommendations The AFRC commends the HKICPA for its continued efforts to enhance the accounting profession’s relevance and impact — from issuing sustainability disclosure and assurance standards and building capacity in these areas, to enabling the adoption of technologies and actively advancing talent acquisition. ... As the regulator, our oversight plays an important role in equipping CPAs to navigate future challenges and deliver sustained value in today’s dynamic and rapidly evolving environment.”

FRC publishes articles with IFEC to educate retail investors

Asset impairment, goodwill and going concern disclosures provide useful information about the financial position, future business values and sustainability of a listed entity. ... Disclosures about uncertainties that may call into question the going concern assumption provide important information about the financial sustainability of the entity. Click here to read the full article.

FRC welcomes the Government’s 2022-23 Budget

Dr Kelvin Wong, Chairman of the FRC remarked, “We are supportive of the Government’s initiatives in enhancing the securities market, promoting green and sustainable finance and in deepening and widening the mutual access between the financial markets in the Mainland and Hong Kong.

Speeches and Presentations

Speeches and Presentations CEO Ms Janey Lai’s remarks at A+ Summit organised by the SCAA and the AHKAA (Chinese version only) 11 October 2025 Chairman Dr David Sun’s opening remarks at Institute of Accountants Exchange’s the 7th GBA Youth Conference (Chinese version only) 9 August 2025 Chairman Dr David Sun’s remarks at AFRC 2024-25 Annual Inspection Report and Annual Investigation & Compliance Report Press Briefing 29 July 2025 Chairman Dr David Sun’s remarks at HKiNEDA’s 10th Anniversary Celebration Cocktail Reception (Chinese version only) 11 April 2025 CEO Ms Janey Lai’s speech at the Deloitte Seminar: “Beyond Compliance: Driving Sustainability with HK's Roadmap” 6 February 2025 Chairman Dr David Sun’s remarks prepared for LegCo Panel on Financial Affairs on 2025-26 budget 3 February 2025

FRC Welcomes Government's Budget

Dr Kelvin Wong, Chairman of the FRC remarked, “We are supportive of the Government’s initiatives in green and sustainable finance and in facilitating the Mainland's ongoing financial liberalisation in a secure and orderly manner.

Press Releases

Press Releases AFRC suspends Tang Yue Nam for 18 months and imposes a fine of HK$200,000 for blatant disregard of two statutory requirements issued by the AFRC 20 January 2026 AFRC reprimands and fines Rongcheng (Hong Kong) CPA Limited, Lee Wai Chi and Chan Kin Wai over HK$1.18 million for contraventions of registration and notification requirements under the AFRCO 6 January 2026 AFRC Proposes Mandatory Sustainability Assurance to Strengthen Hong Kong’s Role as a Leading Green Finance Hub 29 December 2025 AFRC reprimands BOFA CPA Limited for improperly backdating audit working papers and imposes a pecuniary penalty 16 December 2025 AFRC reprimands MnO CPA Limited and its two directors for audit deficiencies and imposes fines of HK$600,000 20 November 2025 AFRC Concludes Successful First Day of the Regional Regulatory Forum 2025, Fostering Dialogue on Accounting's Future 10 November 2025

AFRC welcomes the Government’s 2023-24 Budget

Development and security are intertwined and provide the cornerstone for sustainable economic, financial and social development.”

AFRC Concludes Successful First Day of the Regional Regulatory Forum 2025, Fostering Dialogue on Accounting's Future

Panel discussions on corporate governance and culture, audit quality, artificial intelligence, and sustainability assurance underscored the need of the profession to be purposeful, progressive, and resilient amid changing regulatory, environmental, and technological landscapes, so as to secure the long-term integrity and competitiveness of capital markets. ... Three issues stand out: sustainability, technology, and talent.

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