Transferring the inspection, investigation and disciplining of accountants to the FRC will ensure Hong Kong has an independent regulator similar to those in the US, UK, Singapore and Australia, says Christopher Hui, Secretary for Financial Services and the Treasury. Photo: Sam Tsang Transferring the inspection, investigation and disciplining of accountants to the FRC will ensure Hong Kong has an independent regulator similar to those in the US, UK, Singapore and Australia, says Christopher Hui, Secretary for Financial Services and the Treasury. Photo: Sam Tsang
Transferring the inspection, investigation and disciplining of accountants to the FRC will ensure Hong Kong has an independent regulator similar to those in the US, UK, Singapore and Australia, says Christopher Hui, Secretary for Financial Services and the Treasury. Photo: Sam Tsang

Reform of Hong Kong accountancy watchdog has lawmakers’ backing, but concerns about funding remain

  • There are concerns that investors or listed companies and their auditors will pay for an expanded FRC under new model
  • If council’s mandate will be expanded to cover private companies, the funding model will need to be changed, Christopher Cheung, lawmaker representing the financial services sector, says

Topic |   Accounting and auditing
Transferring the inspection, investigation and disciplining of accountants to the FRC will ensure Hong Kong has an independent regulator similar to those in the US, UK, Singapore and Australia, says Christopher Hui, Secretary for Financial Services and the Treasury. Photo: Sam Tsang Transferring the inspection, investigation and disciplining of accountants to the FRC will ensure Hong Kong has an independent regulator similar to those in the US, UK, Singapore and Australia, says Christopher Hui, Secretary for Financial Services and the Treasury. Photo: Sam Tsang
Transferring the inspection, investigation and disciplining of accountants to the FRC will ensure Hong Kong has an independent regulator similar to those in the US, UK, Singapore and Australia, says Christopher Hui, Secretary for Financial Services and the Treasury. Photo: Sam Tsang
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