The Secretary for Financial Services and the Treasury, Mr James Lau, today (May 31) welcomed the publication of the ninth annual report of the Process Review Panel (PRP) for the Financial Reporting Council (FRC).
Mr Lau said, "Process review is an important institutional function designed to help enhance the transparency and accountability of the FRC in performing its statutory functions under the Financial Reporting Council Ordinance. In 2017, the PRP conducted a comprehensive review of selected cases handled by the FRC in the preceding year and considered that the actions taken by the FRC were consistent with its internal procedures and guidelines. In the annual report, the PRP has made useful observations and suggestions which are conducive to the further improvement of the work of the FRC.
"I would like to express my gratitude to the PRP for its dedication in working with the FRC to enhance our financial reporting and corporate governance regime."
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