Press release

Appointments to Financial Reporting Review Panel

Thursday, July 12, 2007

The Chief Executive has appointed members to the Financial Reporting Review Panel, an organ established under the Financial Reporting Council (FRC) to enquire into accounting non-compliances of listed corporations and collective investment schemes (listed entities) in Hong Kong.

The appointments were made in accordance with the Financial Reporting Council (FRC) Ordinance for a term of three years with effect from Monday (July 16). The FRC will become fully operational on the same day.

The appointments are as follows:

Convenors-cum-Members:

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Mr Wilson Fung Ying-wai

Prof Amy Lau Hing-ling

Dr Eric Li Ka-cheung, GBS, JP

Mr David Lie Tai-chong, JP

Mr Roderic N. A. Sage

Ms Elisabeth Charlotte Scott

Members:

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Mr Roger Thomas Best, JP

Mr Paul Brough

Mr Edmond Chan Ka-ling

Ms Annie Chan Wai-hing

Ms Dilys Chau Suet-fung

Mrs Lina Cheng Tang Ho-kuen

Mr David Cheung Ching-leung

Prof Stephen Cheung Yan-leung, JP

Ms Chew Sein-mene

Mr Raphael Ding Wai-chuen

Mr Eugene Fung Pui-cheung

Mr Chris Hall

Mr Nelson Lam Chi-yuen

Mr Kenneth Lam

Mr Kevin Lau Siu-ki

Ms Cecilia Lee Sau-wai

Ms Carol Lee Tso-yun

Mr John Robert Lees

Mr Brian David Li Man-bun

Prof Low Chee-keong

Ms Ayesha Abbas Macpherson

Ms Edith Ngan Man-ling

Ms Josephine Price

Mr Stephen Taylor

Mr Carlson Tong, JP

Mr Tony Tsoi Tong-hoo

Mr Paul F. Winkelmann

Mr Peter Wong Hong-yuen, GBS, JP

Mr Alvin Wong Tak-wai

"The FRC is a major initiative in enhancing the regulation of the accounting profession and corporate governance of companies listed in Hong Kong," a government spokesman said today (July 12).

"The Financial Reporting Review Panel is an important component of the new regulatory regime. Its work is indispensable to the discharge of FRC's statutory functions," he added.

When an enquiry case arises, the FRC will appoint one convenor and four or more members from the panel to form a Financial Reporting Review Committee.

The committee will enquire into cases of non-compliance with relevant legal, accounting and other regulatory requirements by listed entities in their financial reports. It will submit an enquiry report on the case to the FRC for consideration and, where appropriate, follow-up action.

The appointments will be gazetted tomorrow (July 13).

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