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Appointments to Public Interest Entities Auditors Review Tribunal
     The Government announced today (September 30) the re-appointments of the Chairman of the Public Interest Entities Auditors Review Tribunal (Review Tribunal) and six members of the Panel for the Review Tribunal for a term of two years from October 1, 2021, to September 30, 2023, in accordance with the Financial Reporting Council Ordinance (Cap. 588).

     They are: 

Mr Stewart Wong Kai-ming, SC

Panel members
Professor Chan Koon-hung
Professor Stella Cho Lung Pui-lan
Professor Hui Kai-wai
Ms Susanna Lee Wai-yan
Mr Simon Wong Hin-wing
Ms Wong Yuen-chi

     In announcing the re-appointments, the Secretary for Financial Services and the Treasury, Mr Christopher Hui, said, "The Review Tribunal is a crucial safeguard to ensure that specified decisions made by the Financial Reporting Council (FRC) and the Hong Kong Institute of Certified Public Accountants (HKICPA) are fair and reasonable."

     Upon the commencement of the Public Interest Entities (PIE) auditor regulatory regime on October 1, 2019, the Review Tribunal has been established to review, in response to applications by any aggrieved persons, specified decisions made respectively by the FRC or the HKICPA in respect of disciplinary sanction against a PIE auditor; registration of a local PIE auditor; and recognition of an overseas PIE auditor.  

     The Government is pursuing further reform of the regulatory regime of the accounting profession. Subject to the passage of the Financial Reporting Council (Amendment) Bill 2021 by the Legislative Council and the subsequent preparatory work, the jurisdiction of the Review Tribunal will be expanded to cover decisions to be made by the FRC under the new regime, including decisions relating to the registration of local PIE auditors, issuance and renewal of practising certificates to certified public accountants (CPAs), and disciplinary sanctions against practice units and CPAs.
Ends/Thursday, September 30, 2021
Issued at HKT 11:00
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