INVESTMENT FUNDS REGULATORY ADVISORY PANEL
TERMS AND REFERENCES
As a member of the Investment Funds Regulatory Advisory Panel you are asked to:
1. Advise the management, where these affect the interests of members and the profession, on:
a. matters related to Hong Kong authorized funds and retirement schemes; and
b. rules and regulations issued by the authorized funds industry regulator and retirement schemes regulator, namely, the Securities and Futures Commission ("SFC") and the Mandatory Provident Fund Schemes Authority ("MPFA").
2. Review and comment on consultative papers, existing and proposed legislation and regulations related to Hong Kong authorized funds and retirement schemes which affect the interests of members and the profession, before their submission to the management for approval.
3. Provide support to the Financial Reporting Standards Committee, the Auditing and Assurance Standards Committee and the Ethics Committee in developing and updating accounting, assurance and ethics standards and guidance/practice notes to members on matters related to Hong Kong authorized funds and retirement schemes, including:
a. reviewing and commenting on related exposure drafts issued by the Institute or other professional bodies (e.g. IASB and IFAC etc); and
b. updating the relevant practice notes, where appropriate, based on the latest development of the standards and industry practice.
4. Attend meetings with the Institute, the SFC, the MPFA and other professional bodies on ad hoc accounting and assurance matters specific to Hong Kong authorized funds and retirement schemes.
5. Contribute to the activities of the Institute by taking up the role of leader, forum chair and / or article writer for designated investment funds related matters or projects.