Accounting for the Future: A Conversation with AFRC

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As the independent regulator of Hong Kong's accounting profession, the Accounting and Financial Reporting Council (AFRC) plays a critical role in upholding audit quality, market trust and professional standards.

Join us for a fireside chat with Ms Janey Lai, Chief Executive Officer of the AFRC, moderated by Mr Cyrus Cheung, Divisional President 2026 - Greater China of CPA Australia. Janey will share insights into the AFRC's regulatory priorities, key developments over the past year, education and outreach initiatives, talent development efforts, and observations from the inaugural Annual Enforcement Report. The discussion will also explore key developments and trends shaping the profession and the role of regulation in supporting a high-quality, future-ready and sustainable profession.

A relaxed drinks gathering will follow, offering an opportunity for meaningful conversations and connection.

CPA Australia members may attend with one non-member guest at no additional charge. Please include your guest’s details during registration.

Venue: CPA Australia Hong Kong Office - 32/F Dah Sing Financial Centre, 248 Queen's Road East, Wanchai

Language: Cantonese

CPD/CPT hour: 1

Dress code: Business attire

Learning Outcomes:

Explain the AFRC's key regulatory priorities, initiatives and recent developments affecting the profession.
Assess the implications of regulatory observations, enforcement trends, technology and AI on professional practice and audit quality.
Identify opportunities and actions that support a high-quality, future-ready and sustainable accounting profession.

Remarks:

- CPA Australia is recognised by The Securities and Futures Commission of Hong Kong as an institution providing Continuous Professional Training (CPT). For any post-event request, please inform us within two months after the event.

- CPD/CPT hours will be granted only to participants who attend the event as a CPA Australia member. Please ensure you register through your member account if you are a CPA Australia member.

- Registration from a non-member without accompanying a member registration will incur a fee of HKD100.

- Registration is required and we will not be able to accommodate any last-minute walk-in attendees.

Mr Cyrus Cheung is the Director - Strategic Finance & Operations at New World Development Company Limited. Prior to joining New World Development, he was a Partner in PwC Hong Kong with close to 20 years of experience in assurance and risk assurance practices. He has extensive experience in assurance, capital market transactions and sustainability advisory projects. In particular, he has extensive experience in advising listed companies to develop and improve their finance process and ESG reporting, as well as providing professional training to his clients on finance and sustainability areas. He has delivered 100+ finance and ESG related training and workshops, focusing on ESG compliance work, strategy setting, sustainability rating enhancement, green finance, climate risks and net zero commitment.

Cyrus has served the audit of companies from start-ups, private companies, multi-national conglomerates, and state-owned enterprises to blue-chip listed companies. He also has extensive experience in internal control advisory and corporate governance projects for various listed companies. Familiar with the capital market and financing activities, he has led 50+ capital market transaction projects, including very substantial acquisition and disposal, major acquisition and disposal, bond offering, privatization, and connected party transactions.

Cyrus holds a bachelor's degree in accounting from The Hong Kong Polytechnic University, where he is also a member of the school's Advisory Committee on Accounting and Finance. He is a Fellow member of CPA Australia, the 2026 Divisional President – Greater China and the Chair of the ESG Committee – Greater China of CPA Australia.

Ms Janey Lai is the Chief Executive Officer (CEO) and Executive Director of the Accounting and Financial Reporting Council (AFRC) since April 2024.

Ms Lai joined the AFRC in August 2022 as the Head of Inspection and took on the additional role of Acting CEO in October 2023.

With decades of experience in the Chinese Mainland and Hong Kong, her background includes auditing, talent development, and business transformation. Ms Lai has extensive knowledge of regulatory frameworks and cross-border compliance.

Before joining the AFRC, Ms Lai was a Partner of two leading international accounting firms for over 17 years. She has a Bachelor of Economics from the University of Sydney and is a fellow member of the Hong Kong Institute of Certified Public Accountants and CPA Australia.