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Law and regulations
Case library

Investigation cases

The FRC may initiate an investigation into potential irregularity as defined in section 4 of the Financial Reporting Council Ordinance (the FRCO). All completed cases with auditing/reporting irregularities identified were referred to the Hong Kong Institute of Certified Public Accountants (HKICPA) for consideration of disciplinary action (www.hkicpa.org.hk). Having taking into account matters as specified in section 35(6) of the FRCO, the FRC may publish investigation reports, or any part of it, after disciplinary action of the HKICPA has been completed.

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Enquiry cases

The FRC may initiate an enquiry into potential relevant non-compliance with financial reporting requirements as defined in section 5 of the FRCO. The FRC is empowered under the FRCO to require listed entities involved in completed enquiries to remove any non-compliance with accounting requirements identified. Having taking into account matters as specified in section 47(6) of the FRCO, the FRC may publish enquiry reports, or any part of it, after completion of an enquiry.

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FRC Decisions

In some cases where the potential non-compliance with accounting requirements does not compromise the presentation of the financial statements, the FRC does not initiate an investigation or enquiry. Instead, it issues a letter of advice, which includes findings and suggested improvements or remedial measures for the listed entities and/or their auditors to consider. This section comprises decisions on cases which did not require investigations or enquiries. The names of the auditor/reporting accountant/listed entity are redacted in the summaries.

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The reference number assigned to a case does not represent the publication date of the case and/ or the number of cases in a year.

Page last updated: 21 January 2016