ACCOUNTING AND FINANCIAL REPORTING COUNCIL

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 Financial Reporting Council (the FRC) is an independent body established on 1 December 2006 under the Financial Reporting Council Ordinance (the FRCO). It is entrusted with the statutory duty to regulate auditors of listed entities through a system of registration and recognition, and through inspection, investigation and disciplinary action.