Under the Financial Reporting Council Ordinance (FRCO), the FRC has the power to direct an investigator to carry out an investigation into the way in which a PIE engagament was carried out, or into the possible contravention of the FRCO or misconduct committed by a PIE auditor or registered responsible person of a registered PIE auditor, and initiate enquiries into a possible relevant non-compliance with accounting requirements in the financial reports of listed entities.
The Department of Investigation and Compliance is responsible for carrying out the investigation and enquiry functions of the FRC. It may initiate an investigation and/or enquiry based on complaints from the public, referrals from other regulators, or internal referrals arising from inspections of audit firms or the FRC’s own financial statements review programme.
For further details of the FRC’s investigation function, please click
here.
For further details of the FRC's enquiry function, please click
here.
