Summary of SFC and AFRC Joint Statement on Loans, Advances and Prepayments Arrangements

In July 2023, the Securities and Futures Commissions ("SFC") and the Accounting and Financial Reporting Council ("AFRC") issued the first joint statement highlighting common regulatory concerns regarding loans, advances and prepayments arrangements for listed issuers.

 

Listed companies are advised to consider the Statement as an official guideline and evaluate their internal controls and implement necessary enhancements to align with the recommended practices.  

 

Read the summary of the Statement now

 

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VINCENT PANG

VINCENT PANG

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AVISTA GROUP

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DEREK CHIM

DEREK CHIM

Principal

RISK MANAGEMENT ADVISORY

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Date: 01 Aug 2023 | Tags: Internal Control

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