Investigations and Enquiries
- annual renewal of practising certificates
- annual renewal of CPA Firm, Corporate Practice and PIE Auditor registrations; and
- application for registration as a Registered PIE Auditor.
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Policy and Oversight
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Registration
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Inspection
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Investigations & Enquiries
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Discipline
Financial Statements Review Programme (FSRP)
Our FSRP is a non-statutory initiative, which is part of our risk-based market monitoring activities, to monitor the quality of financial reporting by listed entities. The Accounting and Financial Reporting Council (AFRC) launched the FSRP in 2011 with the objective of proactively reviewing financial statements of listed entities to identify non-compliances with accounting requirements by listed entities or possible misconduct by their auditors.
The scope of a review includes considering whether there is non-compliance with financial reporting standards, auditing and assurance standards, and other relevant financial reporting guidelines (such as accounting requirements under the Listing Rules of the Stock Exchange of Hong Kong Limited).
A risk-based approach is adopted to identify and select financial statements for review based on various criteria which are reviewed and set annually and may be updated in response to subsequent changes in the current economic and regulatory environment. For the 2021 cycle, 75 financial statements have been selected for review.
If non-compliance with accounting requirement is identified, an enquiry will be initiated.
If misconduct by auditor is identified, an investigation will be initiated.
