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FRC will assume the following regulatory functions from the Hong Kong Institute of Certified Public Accountant (“HKICPA”) in respect of the accounting profession in Hong Kong

FRC will assume the following regulatory functions from the Hong Kong Institute of Certified Public Accountant (“HKICPA”) in respect of the accounting profession in Hong Kong

i. issuance of practising certificates to certified public accountants (CPAs);ii. registration and inspection of practice units; iii. investigation and discipline of all CPAs, certified public accountants (practising) and practice units; and iv. overseeing the remaining statutory functions of the HKICPA:  a)    setting of requirements for and provision of continuing professional development;b)    setting of…

New inspection regime for the Companies Register

New inspection regime for the Companies Register

In order to protect personal privacy, the new inspection regime for the Companies Register have been gazetted to implement in three phases started from late August. Phase 1: from August 23, 2021, companies may replace usual residential addresses (URAs) of directors with their correspondence addresses, and replace full identification numbers (IDNs) of directors and company secretaries…