Having regard to:
- the law in other comparable jurisdictions;
- the recommendations of the SCCLR in its Report on the Recommendations of a Consultancy Report of the Review of the Hong Kong Companies Ordinance; and
- the accepted recommendations resulting from the SCCLR's CGR
to comprehensively review the accounting, auditing and financial statement disclosure provisions in the CO with the object of developing for submission to the FSTB, a composite set of proposals to amend the CO such that the clarity and utility of those provisions, which relate to the preparation and use of company financial statements and the overall disclosure requirements of the Ordinance, are enhanced.
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