Investor Presentaiton
SFC
證監會
5.4 Auditor and financial reports
◉
Eligibility and cessation of office requirements: largely similar to those under the
CO
Only "practice unit" under the Professional Accountants Ordinance (Cap. 50)
is eligible for appointment
Outgoing auditor must give a statement of circumstances connected with the
resignation that should be brought to the attention of shareholders or
creditors, or if there are no such circumstances, a statement to that effect
The OFC must prepare an audited annual report for each financial year
-
On application by an OFC, the SFC may exempt the directors of the OFC
from such requirement if it has not been launched and has no investor (see
OFC FAQs Question 21A)
Accounting standards under the OFC Code:
-
All accounts must be prepared in a manner compliant with Hong Kong
Financial Reporting Standards or International Financial Reporting Standards
Other accounting standards may be considered on a case-by-case basis
Guidance on contents required for financial reports of private OFCs are set out in
the OFC Code (Note: public OFCs to comply with the UT Code)
Interim report not a mandatory requirement for private OFCs
22
22View entire presentation