Appointments to Accounting and Financial Reporting Council
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The Chief Executive (CE), pursuant to the Accounting and Financial Reporting Council Ordinance (Cap. 588), has reappointed Dr Kelvin Wong Tin-yau as the Chairman of the AFRC.
The Financial Secretary (FS), under the authority delegated by the CE pursuant to the Ordinance, has reappointed nine Non-Executive Directors (NEDs) and appointed two new NEDs. The incumbent NEDs reappointed are Mr Roger T Best, Mr Eugene Fung Ting-sek, SC, Mr Stephen Hung Wan-shun, Ms Miranda Kwok Pui-fong, Mr Stephen Lee Hoi-yin, Ms Rosita Lee Pui-shan, Mr Francis Siu Wai-keung, Dr Peter Wan Kam-to and Mr Edward Yuen Siu-bun. The newly appointed NEDs are Dr James C Lin and Mr Andrew Fung Hau-chung.
Announcing the appointment, the Secretary for Financial Services and the Treasury, Mr Christopher Hui, said, "Under the leadership of the AFRC Board, the new regulatory regime of the accounting profession was launched successfully in October 2022 and has been implemented smoothly since then. We look forward to the continued contribution of the AFRC in pursuit of effective regulation and sustainable development of the accounting profession."
The Government also announced today that the FS, under the authority delegated by the CE pursuant to the Ordinance, has appointed Ms Janey Lai Chui Pik, Head of Inspection of the AFRC, as an Executive Director to act as the Chief Executive Officer (CEO) after the retirement of the incumbent CEO on October 11, 2023, until further notice.
The Government announced in August the upcoming retirement of the incumbent CEO of the AFRC, Mr Marek Grabowski, and the commencement of a global recruitment exercise for his successor.
The new regulatory regime of the accounting profession was launched on October 1, 2022, under which the AFRC has become vested with expanded statutory functions to regulate listed entities auditors, practice units and certified public accountants. The AFRC is also responsible to promote the development of the accounting profession and oversee the Hong Kong Institute of Certified Public Accountants' performance of its various statutory professional functions.
Ends/Friday, September 29, 2023
Issued at HKT 11:00
Issued at HKT 11:00
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