Mission

The AFRC is the independent regulator of the Accounting Profession established on 1 December 2006. We exercise the full spectrum of our regulatory powers to uphold high standards of professional conduct, and thus protect public interest.

Our mission is to shape a competitive environment that will nurture and promote success of the profession. This pivotal role not only enhances the quality of financial reporting but in turn reinforces our pursuit of promoting the healthy development of the profession and Hong Kong’s position as a competitive international financial centre

The AFRC fulfils its mission through:

Dialogue
Understanding
Collaboration
Law and Governance
Thought leadership

Core Values

The AFRC is committed to the following core values:

AFRC

The AFRC operates independently. We perform our functions fairly, impartially and consistently, free from interference by the auditing profession and listed entities, and from political pressure.

The AFRC believes that as a regulator, we should be accountable and transparent. We publish operational statistics, information on investigations and enquiries, and other reports. This allows the profession and the public to understand our operations and facilitates judgment of our performance.

Given the nature of our work, it is essential that Board members of the AFRC and the staff are of the highest integrity. We adhere to high ethical standards in conducting our activities.

We pledge to achieve our missions efficiently, effectively and professionally.

Functions

Issuance of practising certificates to certified public accountants.
Registration of accounting practice units and Public Interest Entities auditors.
Inspection, investigation and discipline work of the accounting profession.
Oversight of the Hong Kong Institute of Certified Public Accountants' performance in its various statutory professional functions.

About AFRC

Mission

Core Values

Functions