Financial Reporting Council

Case load mounts for Financial Reporting Council

Financial Reporting Council chief executive Mark Dickens says poor quality of firms does not mean poor quality of auditors. Photo: David Wong

Fifteen listed companies have been put on watch by the Financial Reporting Council, compared with 13 last year. The council starts tracking companies when it sees media reports suggesting they may have accounting problems or when it receives complaints from other regulatory bodies or members of the public, said its new chief executive, Mark Dickens.

Friday, 26 April, 2013, 4:36am

2013: Hong Kong's year of regulatory reform

Secretary for Financial Services and the Treasury Professor Chan Ka-keung

Happy New Year to all readers of White Collar. Last year marked a plethora of reforms and challenges for many listed companies, accountants, investment bankers, even the stock exchange and the regulator.

1 Jan 2013 - 4:13am

Most audit problems found at smaller firms

Chan Tak-shing

Seventy per cent of complaints about faulty audits of Hong Kong companies this year were carried out by non-Big Four accounting firms, according to the Financial Reporting Council.

The council, which looks into audit failures of listed firms, received 12 complaints this year that triggered initial investigations. Among them, 70 per cent were audited by non-Big Four accounting firms.

28 Sep 2012 - 3:32am

Hong Kong watch list of mainland firms grow

Hong Kong regulators are monitoring an increasing number of irregularities at small to medium-sized mainland firms listed in the city.

Sophia Kao, the chairman of the Financial Reporting Council (FRC), said yesterday the accounting regulator had placed 13 Hong Kong-listed firms on a watch list in the past two months.

12 Apr 2012 - 12:00am

H-share firms' mainland audits to be checked in HK

Hong Kong's accounting-profession watchdog, the Financial Reporting Council, will annually review all financial statements of the 17 Hong Kong-listed mainland companies that have chosen to use mainland auditors to prepare their accounts under mainland standards.

14 Apr 2011 - 12:00am

Kao set to cut teeth in watchdog role

FRC chief ready to bring audit failures to book

Sophia Kao Ching-chi may not be a professional number cruncher, but as head of the new Financial Reporting Council her job is to be sheriff of the accountancy world.

17 Sep 2007 - 12:00am

We're here for the facts

The Financial Reporting Council's (from left) director of investigation and compliance Clara Yu Sau-ching, chairman Sophia Kao and chief executive Shum Man-to will be open for business from Monday.

13 Jul 2007 - 12:00am

Council will boost quality control

Hong Kong's already stringent financial reporting standards have recently been given a further boost through the setting up of a groundbreaking programme covering the provision of audit services.

23 Jun 2007 - 12:00am

British model leads way in upholding regulations and professionalism

Auditors and accountants hold a privileged position that requires them to uphold the highest standards of the profession.

23 Jun 2007 - 12:00am

Sceptics warn small budget may hinder new watchdog

Meagre resources will prevent regulator from playing major role, legislators say

Hong Kong will get a new accounting watchdog, the Financial Reporting Council, early next year although some sceptics worry that its modest $10 million budget will keep it from playing a major role.

14 Jul 2006 - 12:00am

Legco urges close watch on regulator

Lawmakers worry a proposed council to ensure accounting transparency will be hobbled in its duties

Legislators have urged the government to ensure its proposed accounting watchdog pursues its duties fearlessly.

8 Oct 2005 - 12:00am