Welcome to the Accounting and Financial Reporting Review Tribunal's website.
The Accounting and Financial Reporting Review Tribunal was established as the Public Interest Entities Auditors Review Tribunal in October 2019 and was renamed on 1 October 2022 under the Accounting and Financial Reporting Council Ordinance (Cap. 588) (“AFRCO”). It has jurisdiction to review, on application, the specified decisions made by the Accounting and Financial Reporting Council; and to hear and determine a question or issue arising out of or in connection with a review of a specified decision. The Tribunal's statutory purpose is to ensure that the specified decisions are reasonable and fair.
The Tribunal is empowered to make a range of orders under the AFRCO in relation to its review proceedings.
The Chairman of the Tribunal was appointed by the Chief Executive. For the purpose of determining a review, the Chairman shall recommend two members from the Tribunal panel, which was appointed by the Chief Executive and consists of seven members, to the Secretary for Financial Services and the Treasury for appointment as ordinary members in relation to the review. Every sitting of the Tribunal for determining a review must be held in public unless the Tribunal determines, in the interests of justice, that a sitting (or any part of it) should be held in private.