Hong Kong’s Accounting and Financial Reporting Council said it has signed a new memorandum of understanding with the Securities and Futures Commission, widening the scope of regulatory cooperation beyond oversight of listed entities’ financial reporting and related audits. The expanded arrangement now covers the financial and compliance reporting of licensed corporations, SFC-licensed virtual asset service providers, SFC-authorized funds, and registered open-ended fund companies. It also applies to the related audit and assurance work carried out by their auditors. The announcement sets out the categories included in the new cooperation framework but does not disclose additional terms in the brief statement.
Hong Kong’s Accounting and Financial Reporting Council said it has signed a new memorandum of understanding with the Securities and Futures Commission, expanding regulatory cooperation beyond the oversight of listed entities’ financial reporting and related audit work.
The new scope covers the financial and compliance reporting of licensed corporations, SFC-licensed virtual asset service providers, SFC-authorized funds, and registered open-ended fund companies, as well as the related audit and assurance work performed by their auditors.
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