Grant Thornton Hong Kong would like to present the resultsof our third Corporate Governance Review. This year, theHong Kong Stock Exchange continues to rank number two in the world in terms of IPO equity funds raised, just behind NYSE Euronext (US) (Dec, 2013).
 
Continued corporate fraud, and governance failures for Mainland companies, and corruption scandals for blue chip Hong Kong companies have brought on concerns about the corporate governance of Hong Kong listed firms. Following the implementation of the new Corporate Governance Code and listing rules in 2012, and the new code provision on board diversity effective in September 2013, the Hong Kong Exchanges & Clearing Ltd (HKEx) continued with a consultation paper1 on risk management and internal control. The potential changes to the corporate governance code from the consultation paper show steps towards corporate governance reform for Hong Kong to align with the global arena.
 
The HKICPA (Hong Kong Institute of Certified Public Accountants) launched a corporate governance guide in 2014 to assist companies in higher standards of corporate governance disclosure and practices. The guide includes 4 parts including disclosure for the board, internal controls, audit committee, and communication with shareholders. It is hoped that the guide will provide Hong Kong companies with clear directions and steps to improve corporate governance disclosures.
 
Our review will take a closer look at the current compliance rate and disclosure of risk and internal controls in corporate governance reports amongst other important corporate governance topics, such as board accountability, independence, effectiveness and diversity, as well as transparency and shareholder relationships.
downloadDownload 2014 Hong Kong Corporate Governance Review
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