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Gary Cohn

As Assistant to the President for Economic Policy and Director of the National Economic Council (2017-2018), Gary Cohn managed the US economic policy agenda, stimulating economic expansion, job creation, and wage increases through historic tax and regulatory reform. Prior to that he was the President and Chief Operating Officer at Goldman Sachs where he worked for more than 25 years.

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Klaas Knot

Klaas Knot is President of De Nederlandsche Bank and is the Chair of the Financial Stability Board. He is also a member of the Governing Council and the General Council of the European Central Bank, member of the European Systemic Risk Board, member of the International Monetary Fund's Board of Governors and a member of the Board of Directors of the Bank for International Settlements.

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Hong Kong Small Auditors' Work

Hong Kong Small Auditors' Work "Unacceptable"

by Starling Insights

Starling Insights Editorial Board

Jul 21, 2023

Observations

Governance, Audit & Regulatory Failures Audit Hong Kong Culture & Consequences Culture & Performance Managing Culture & Conduct for Good Governance

Hong Kong's Accounting and Financial Reporting Council (AFRC) has accused small and medium auditing firms of an "unacceptable attitude" that "compromises audit quality" and threatens the city's status as a global financial center.

The AFRC's harsh assessment of the industry, comprising more than 10,000 certified auditors, comes even as the city offered itself as a neutral ground in the years-long auditing dispute between the United States and China. "There is huge room for improvement for these accounting firms," Janey Lai, Head of Inspection at the AFRC, said.

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