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.
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RISK MANAGEMENT ADVISORY
Date: 01 Aug 2023 | Tags: Internal Control