華師話你知 – AFRC issues a follow-up open letter to reiterate expectations on auditor changes

The Accounting and Financial Reporting Council (AFRC) issues a follow-up open letter to public interest entity (PIE) auditors and audit committees of PIEs to express its concerns and reiterate its expectations on auditor changes on 11 January 2023.

In the follow-up letter, the AFRC highlights the following four observations and concerns:

• Auditors were requested to resign by listed entities as a result of issues identified in audits.
• “Corporate governance considerations” is misused as a reason for auditor resignation.
• Premature announcements regarding the appointment of an incoming auditor.
• Using “disagreement over audit fees” as a catch-all explanation for auditor resignations.

In view of the above issues, the follow-up open letter sets out specific expectations for incoming auditors, outgoing auditors and audit committees, all of which have their important roles to play and are accountable for ensuring the quality of financial reporting and audits.

For more details, please click HERE or contact AFRC at general@afrc.org.hk or (852) 2810 6321.

免責聲明

本郵件內容的準確性、可靠性、安全性及時間性，香港華人會計師公會概不作任何明示或默示的保證，香港華人會計師公會亦不作出任何明示或暗示保證該等內容適合使用。對任何由本郵件所載資料所產生或與之相關的損失或損害，香港華人會計師公會概不承擔任何責任。你有責任自行評估本郵件包含的所有資料，並須加以核實，例如聯絡政府相關部門，以及在根據該等資料行事之前徵詢獨立意見。