The Hong Kong Financial Services and the Securities and Futures Commission expand financial reporting and auditing supervision to virtual asset service providers

The Hong Kong Accounting and Financial Reporting Council (AFRC) announced the signing of a new Memorandum of Understanding with the Hong Kong Securities and Futures Commission, expanding regulatory cooperation beyond the oversight of financial reporting and related auditing work of listed entities.

This includes the financial and compliance reporting of licensed corporations, Securities and Futures Commission licensed virtual asset service providers, Securities and Futures Commission recognized funds, and registered open-ended fund companies, as well as the related auditing and assurance work conducted by their auditors.