Board
The Board of the Accounting and Financial Reporting Council (AFRC) comprises the following members in accordance with the Accounting and Financial Reporting Council Ordinance.
Dr Wong is the Chairman of the Accounting and Financial Reporting Council. He is also the Chairman of the Securities and Futures Commission (SFC), the Chairman of the Corruption Prevention Advisory Committee and a member of the Advisory Committee on Corruption of Independent Commission Against Corruption (ICAC).
He was a Non-Executive Director of SFC (2012-2018), the Chairman of Investor and Financial Education Council (2017-2018), the Chairman of The Hong Kong Institute of Directors (2009- 2014), a member of Financial Reporting Council (2015-2018), a convenor-cum-member of Financial Reporting Review Panel (2013-2016), a member of Standing Committee on Company Law Reform (2010-2016), a member of Main Board and GEM Listing Committees of The Stock Exchange of Hong Kong Limited (2007-2013), a member of Auditing and Assurance Standards Committee of the Hong Kong Institute of Certified Public Accountants (2006-2008) and a member of the Operations Review Committee of ICAC (2017-2022).
Dr Wong holds a Master of Business Administration degree from Andrews University in Michigan, USA, and a Doctor of Business Administration degree from The Hong Kong Polytechnic University.
Mr Best was a partner of Deloitte Touche Tohmatsu and is a former President of the Hong Kong Institute of Certified Public Accountants. He has chaired the Hong Kong Institute of Certified Public Accountants Financial Reporting Standards Committee and has also been a member of the IFRS Advisory Council.
Current appointment expires on 2026-09-30
Mr Fung is an Executive Director and Chief Financial Officer of the Henderson Land Development Company Limited and a non-executive of the Hong Kong and China Gas Limited. He holds the Bachelor of Arts Degree from the University of Hong Kong and the Honorary Fellowship of Lingnan University. He was an executive director and the Head of Global Banking & Markets of Hang Seng Bank Limited. He is the Professor of Practice (Finance) in the School of Accounting and Finance of the Hong Kong Polytechnic University, the Adjunct Professor of the Hang Seng University of Hong Kong.
Mr Fung is a barrister in private practice. He is experienced in the fields of commercial law, trusts and probate, tax, property litigation, professional negligence, and company and insolvency law. He is also a Recorder of the High Court, the Chairman of the Process Review Panel for the Mandatory Provident Fund Schemes Authority, the Chairman of the Process Review Panel for the Insurance Authority and the Chairman of the Air Transport Licensing Authority. He was a member of the Law Reform Commission of Hong Kong from 2012 to 2018.
Mr Hung is a Past President of the Law Society of Hong Kong. He is currently the Chairman of the Law Society’s Legal Education Committee and Criminal Law and Procedure Committee.
In his own capacity, Mr. Hung serves as a member on the Board of Review (Film Censorship), Law Reform Commission, Professional Services Advancement Support Scheme Vetting Committee, Duty Lawyer Service Council, Disciplinary Tribunal of the Financial Dispute Resolution Centre, the Standing Committee on Judicial Salaries and Conditions of Service, and the Securities and Futures Appeals Tribunal.
Mr. Hung is an Adjunct Professor of Law of the Hong Kong Shue Yan University and the Law School of Beijing Normal University. He is also a Visiting Professor of the Faculty of International Law of China University of Political Science and Law in Beijing, China and a part-time tutor in the Faculty of Law of University of Hong Kong.
Ms Kwok has been serving China Construction Bank (Asia) Corporation Limited for over 37 years and is now the Non-Executive Director of the bank. She is a member of the Council of City University of Hong Kong, Process Review Panel for Securities and Futures Commission, Risk Management Committee of the Hong Kong Exchanges and Clearing Limited, Air Transport Licensing Authority as well as the Standing Committee on Judicial Salaries and Condition of Service. Ms Kwok graduated with an Honorable Bachelor of Social Sciences Degree in Economics and Management from the University of Hong Kong in 1984, and graduated with honors from the Graduate School of Retail Bank Management of the Consumer Bankers Association in the United States in July 2001.
Ms Lai is the CEO and Executive Director of the AFRC, with rich experience in both the local and Mainland accounting professions and international regulatory and compliance landscape. With decades of experience across Mainland China and Hong Kong, she focuses on auditing, talent development and transformation. Before joining the AFRC, she was a Partner of two leading international accounting firms for over 17 years. She has a Bachelor of Economics from the University of Sydney and is a fellow member of the Hong Kong Institute of Certified Public Accountants and CPA Australia.
Ms Lee is a Director and Chief Executive Officer of Hang Seng Investment Management Limited, a wholly owned subsidiary of Hang Seng Bank. She is also a Director of Hang Seng Qianhai Fund Management Company Limited which is the first foreign-majority-owned joint venture fund management company established on the Mainland.
Ms Lee holds a Bachelor of Social Sciences degree from The University of Hong Kong, a Master of Science degree in Global Finance jointly awarded by The Hong Kong University of Science and Technology and New York University STERN Business School. With a strong commitment to serving the community, she is currently the Chairman of the Arbitration Panel under the Securities and Futures (Leveraged Foreign Exchange Trading) (Arbitration) Rules of Hong Kong’s Securities and Futures Commission; a member of Legal Aid Services Council; a member of the Products Advisory Committee under Securities and Futures Commission and a member of China Committee of Hong Kong General Chamber of Commerce. Ms Lee is also invited as a Member of Beta Gamma Sigma (HKUST Chapter) and a Member, Hong Kong Academy of Finance.
Mr Lee has over 30 years of experience in accounting, auditing and financial management at KPMG in London and Hong Kong. He retired from KPMG in 2011 as Partner-in-Charge of the Risk Consulting practices of KPMG in respect of Hong Kong, mainland China and the Asia Pacific region Since his retirement from KPMG, he has served as an Independent Non-Executive Director at a number of companies and statutory public bodies and as Past President of The Institute of Internal Auditors Hong Kong. He is currently an Independent Non-Executive Director at two companies.
He is a Fellow of The Hong Kong Institute of Certified Public Accountants and of The Institute of Chartered Accountants in England and Wales, and is an Associate Member of The Institute of Directors and The Institute of Internal Auditors.
Ms Leung served as Vice Chair, International of CPA Australia until June 2024 and was Executive General Manager International from 2018 to 2023. She oversees strategies and operations for international markets, including Europe, Greater China, Indonesia, India, Malaysia, the Philippines, Singapore, Vietnam, and the UAE, leading over 50,000 members.
With over 40 years in accountancy, Ms Leung has held roles at Ernst & Young and PricewaterhouseCoopers in Hong Kong, as well as in the financial services and hospitality sectors in Hong Kong and Canada before joining CPA Australia. In recognition of her expertise, she was named an Accounting Advisor for Hong Kong by the Chinese Ministry of Finance in 2021.
Ms Leung has also served on advisory boards and committees for universities in Hong Kong and Australia.
A fellow member of CPA Australia, Ms Leung also belongs to several professional organisations, including the Hong Kong Institute of Certified Public Accountants and the Chartered Professional Accountants of Canada. She holds a Bachelor of Commerce degree from the University of British Columbia, Canada.
Dr Lin is a Senior Partner of Davis Polk & Wardwell. His practice focuses on corporate finance and mergers and acquisitions. Dr Lin holds an A.B. degree from Harvard University, J.D. degree from Harvard Law School and D.Phil. degree from Oxford University.
Mr Lui was the Executive Director (August 2006 – August 2019) of the Supervision of Markets Division of the Securities and Futures Commission (SFC). During his service at the SFC, he was the Chairman of the Investor Compensation Fund Committee and the Securities Compensation Fund Committee, and a member of the Advisory Committee, Investment Committee, and SFC (HKEC Listing) Committee. He was also a member of the Statutory Risk Management Committee of Hong Kong Exchanges and Clearing Limited. He had worked for various financial institutions in the US and Hong Kong in the areas of deposit taking and lending, asset management and investment banking.
Professor Mo is currently a Visiting Professor of Accountancy and Associate Director of the Research Centre for Sustainable Hong Kong at City University of Hong Kong. She will join Hang Seng University of Hong Kong as Professor and Head of the Department of Accountancy from January 2025. Previously, Professor Mo served as Professor of Accountancy at the City University of Hong Kong (2011-2024) and Lingnan University (2006-2011). She was a member of the Auditing & Assurance Standards Committee of the Hong Kong Institute of Certified Public Accountants and a member of Board of Review (Inland Revenue Ordinance, Hong Kong). Currently, she is a member of the Sustainability Assurance Advisory Panel of HKICPA and a Specialist of Hong Kong Council for Accreditation of Academic & Vocational Qualifications (HKCAAVQ).
Mr Siu is a fellow member of Hong Kong Institute of Certified Public Accountants and Institute of Chartered Accountants in England and Wales.
Mr Siu graduated from the University of Sheffield UK in 1979. After that he joined KPMG Manchester, UK and returned to Hong Kong in 1986 and became a partner of KPMG Hong Kong in 1993. From 2000 to 2002, he was a senior partner of KPMG Shanghai Office. From 2002 to March 2010, he was a senior partner of KPMG Beijing Office, and a senior partner of Northern Region, KPMG China.
He is currently an Independent Non-Executive Director of a number of listed companies in Hong Kong and Singapore.
Dr Wan is a Fellow of the Hong Kong Institute of Certified Public Accountants, the Association of Chartered Certified Accountants and the Hong Kong Institute of Directors. He has over 30 years of practising experience and was a partner of PricewaterhouseCoopers before retirement. He has since been invited to join the Board of Directors of a number of listed companies as Independent Non-executive Director. He also serves in stewardship positions in several NGOs and service organisations.
Mr Yuen has over 30 years of experience in finance and accounting for various companies, including multinationals, with the last position as the Area Finance Director of Pepsi-cola International, and Hong Kong listed companies, with the last position as the CFO of Hsin Chong Construction Company Ltd.