2023 Oversight Report
- 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.
This is the first oversight report covering the expanded scope of oversight subsequent to the Further Reform of the regulatory regime of accounting profession, which came into effect in October 2022. The specified functions under the expanded scope of oversight include (i) the registration of CPAs; (ii) setting continuing professional development requirements for CPAs; (iii) standard setting; (iv) the provision of training to CPAs; and (v) arranging for mutual or reciprocal recognition of accountants.
Our primary objective is to provide high-level guidance to the HKICPA that is conducive to raising its effectiveness. This, in turn, will protect the public interest and to cultivate trust in the system. The report contains our recommendations to the HKICPA and its publication ensures a high degree of transparency and accountability.
