Disciplinary Order under the Professional Accountants Ordinance (PAO)

The government of Hong Kong has delegated the regulatory power to the Hong Kong Institute of Certified Public Accountants (the HKICPA) under the PAO on the compliance with the professional standards by the accounting and auditing professionals in Hong Kong. [Read]


Investigation by Accounting and Financial Reporting Council (the AFRC) under the Accounting and Financial Reporting Council Ordinance (the AFRCO)

The role of the AFRC

  • To conduct independent investigations into possible auditing and reporting irregularities in relation to listed entities
  • To enquire into possible non-compliance with accounting requirements on the part of listed entities

The AFRC may initiate investigations or enquiries upon receipt of complaints or on its own initiative.

Any auditing or reporting irregularities identified by the FRC will be referred to the HHICPA for follow-up action. Any non-compliances relevant to the Listing Rules will be referred to The Stock Exchange of Hong Kong Limited or the Securities and Futures Commission for follow-up action. The AFRC is not empowered to discipline or prosecute.

Investigation by the Auditing Investigation Board (the AIB) of the Accountig and Financial Reporting Council, on the compliance with financial reporting standards for listed companies and compliance with auditing standards for the auditors of listed entities [Read]