News Centre

The Financial Reporting Council (the FRC) has published its 2019 Annual Report (the Annual Report) with the theme ‘Embarking on a New Journey’ for the nine-month ended 30 September 2019.

Dr Kelvin Wong, Chairman of the FRC, remarked, “After months of intense preparations, the FRC has successfully transformed itself to become the full-fledged independent oversight body for regulating auditors of public interest entities on 1 October 2019.  In the light of the evolving regulatory landscape and our expanded statutory responsibilities under the Amendment Ordinance, we have set directions and strategies that are conducive to the effective implementation of our functions under the new regime, the long-term development of the FRC and the effective oversight of the management process. They are the cornerstone for us to fulfil our mission of enhancing the quality of financial reporting of public interest entities in Hong Kong, deepening investors’ confidence in the quality of corporate reporting and safeguarding public interest.”

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