Appointments to Financial Reporting Review Panel

      The Financial Secretary has, under the authority delegated by the Chief Executive, appointed three new Convenors and two new members to the Financial Reporting Review Panel (FRRP). Meanwhile, four Convenors and 23 members have been re-appointed.
     The appointments and re-appointments, made in accordance with the Financial Reporting Council (FRC) Ordinance (Cap. 588), are:
New Convenors and members appointed for a term of three years from July 16, 2016 to July 15, 2019:
Mr Eugene Fung Ting-sek (Convenor)
Dr Kam Pok-man (Convenor)
Mr Carmelo Lee Ka-sze (Convenor)
Mr Carlyon John Knight-Evans
Mr Lee Yin-toa
Convenor and members re-appointed for a term of three years from July 16, 2016 to July 15, 2019:
Mr Robert Andrew Gazzi (Convenor)
Professor Gary Clark Biddle
Professor Peter Cheng Shu-tong
Mr Cheung Kwan-hoi
Ms Ivy Cheung Wing-han
Mr Ian Peter Farrar
Mr Paul Donald Hebditch
Mr Nelson Lam Chi-yuen
Ms Lee Pui-shan
Mr Lim Choon-hock
Ms Cynthia Lim Wai-tin
Mr Ng Shiu-hong
Mr Paul Anthony Phenix
Ms Teo Chew-ping
Mr Wong Kim-man
Mr Stephen Wong Tak-man
Mr Thomas Wong Yue-ting
Ms Wendy Yung Wen-yee
Convenors and members re-appointed for a term of two years from July 16, 2016 to July 15, 2018:
Mr Andrew Mak Yip-shing (Convenor)
Ms Edith Shih (Convenor)
Mr Ambrose Cheung Wing-sum
Mr Mohan Datwani
Ms Ding Chen
Mr Paul Shieh Wing-tai
Ms Priscilla Wong Pui-sze
Convenor and member re-appointed for a term of one year from July 16, 2016 to July 15, 2017:
Professor Wong Tak-jun (Convenor)
Ms Anna Wong Wai-kwan
     A Government spokesman said today (July 14), "The FRC is an important institution tasked to enhance the regulation of the accounting profession and corporate governance of companies listed in Hong Kong.
     "As a statutory body established under the FRC Ordinance, the work of the FRRP is indispensable to the discharge of the FRC’s statutory functions of initiating enquiries concerning non-compliance with legal, accounting or regulatory requirements in a listed entity’s financial reports. We look forward to benefitting from the professional knowledge and expertise of the FRRP members."
     "We would also like to take this opportunity to express our heartfelt appreciation to the outgoing Convenor, Dr Kelvin Wong Tin-yau, and the outgoing members, Mr Jamie Allen and Ms Cindy Fu Man-yee, for their valuable contributions to the work of the panel in the past years,” the spokesman added.
     When an enquiry case arises, the FRC will appoint one Convenor and four or more members from the FRRP to form a Financial Reporting Review Committee, which will enquire into the relevant non-compliance of the case. It will also submit an enquiry report on the case to the FRC for consideration and, where appropriate, take follow-up action.
     The appointments will be gazetted tomorrow (July 15).

Ends/Thursday, July 14, 2016
Issued at HKT 16:05