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Annual Renewal

After the Further Reform, the Accounting and Financial Reporting Council (“AFRC”) (currently known as the Financial Reporting Council (“FRC”)) will assume the responsibility for registration of corporate practices. 

 

As such, the relevant application forms and guidelines issued by the Institute for the registration of corporate practces, including the Corporate Practice (Registration) Rules, will be repealed on 1 October 2022. 

 

In accordance with the new AFRC Ordinance, the Institute will continue to be responsible for the professional indemnity insurance requirements and the model article of association. Accordingly, revisions will be made to the Corporate Practice (Professional Indemnity) Rules and the Corporate Practice (Model Article of Association) to take into account the changes required as a result of the Further Reform.

The revised Corporate Practice (Professional Indemnity) Rules and the Corporate Practice (Model Article of Association) will be available on the Institute’s website in due course.

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