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The Financial Secretary has appointed Dr Kam Pok-man as the Chief Executive Officer (CEO) of the Financial Reporting Council (FRC) for a term of three years starting from April 1, 2010. The appointment of Dr Kam is gazetted today (January 29).
Announcing the appointment, a Government spokesman said that Dr Kam was selected by a search committee through a worldwide open recruitment exercise.
"The search committee recognised Dr Kam's wealth of knowledge and professional track record. He has extensive experience working with the accounting profession and financial regulators," the spokesman said.
Dr Kam is a certified public accountant with extensive management and administrative experience and has served on a number of Government advisory and statutory boards, and is also an Adjunct Associate Professor in the School of Accountancy of the Chinese University of Hong Kong and Adjunct Professor in the Department of Accountancy at the City University of Hong Kong. He was a member of the FRC from December 2006 to September 2009, and was the President of the then Hong Kong Society of Accountants (now the Hong Kong Institute of Certified Public Accountants) in 1999 and 2000.
Dr Kam will retire as the Group Financial Controller of Jardine Matheson in early 2010, and will succeed Mr Shum Man-to, the incumbent CEO.
"We would like to take this opportunity to thank Mr Shum for his invaluable contributions as the inaugural CEO of the FRC. He has played a key role in the establishment of the FRC and in supporting the Council's work," the spokesman said.
The FRC is the statutory body established to investigate audit irregularities and to enquire into non-compliance of financial reports with respect to listed entities. It commenced full operations on July 16, 2007. As the CEO, Dr Kam will report to the FRC and be charged with full administrative and management responsibility of the FRC secretariat.
The search committee was chaired by the Chairman of the FRC, Ms Sophia Kao. Members included FRC members Mr Martin Hadaway and Mr Moses Cheng, and a representative of the Financial Services and the Treasury Bureau. Dr Eric Li served as an honorary advisor to the search committee.
Ends/Friday, January 29, 2010
Issued at HKT 12:00
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