The AFRC is working closely with China's MOF to explore ways to streamline the process for gaining access to mainland audit documents.
October 25, 2022The AFRC can subject auditors who commit misconduct to penalties up to HKD 10 million, or three times profit gained, whichever is higher.
October 5, 2022Collaboration is needed to protect the public interest and maintain financial market integrity, said FRC chairman Kelvin Wong.
September 21, 2022Hong Kong's Financial Reporting Council already has 13 cases involving mainland audit work papers, two of which have been concluded.
June 30, 2022The FRC will extend the scope of its oversight to all practicing auditors and accountants, instead of just those servicing listed companies.
March 10, 2022Protecting whistleblowers' identities will be the FRC's highest priority. It will not share any personal information to outside parties unless it is "legally obliged to do so".
December 6, 2021The Financial Reporting Council will increasingly disclose its investigations when cases involve high public interest.
November 28, 2021A new MOU establishes a collaborative framework which will ultimately provide better investor protection through high quality financial reporting.
June 9, 2021The MoU is expected to enhance audit quality, contribute to the development of the Hong Kong audit market, and promote confidence in the capital markets.
May 11, 2021The FRC will be empowered to order penalties of up to HK$10mn or three times the profit gained or loss avoided as a result of misconduct, whichever is higher.
June 4, 2019