TOP PAGE
ENGLISH
JAPANESE
|
CONNECT WITH US:
Home
About
Services
Contact
Log in
*
Home
Press release
Feb 07, 2020 19:13 JST
Source:
The Hong Kong Institute of Directors (HKIoD)
Financial Reporting Amidst the Coronavirus Outbreak
HONG KONG, Feb 07, 2020 - (ACN Newswire) - The Hong Kong Institute of Directors (HKIoD) calls on listed company directors to faithfully discharge their duty as they tackle financial reporting tasks amidst the outbreak.
On 4 February, the Securities and Futures Commission and the Stock Exchange of Hong Kong issued a Joint Statement in relation to results announcements in light of travel restrictions related to the severe respiratory disease associated with a novel infectious agent.
The coronavirus outbreak will likely affect some issuers' plan and progress in preparing financial information for their results announcements. Many of our fellow directors are facing a difficult situation.
HKIoD had the opportunity to have an in-depth joint discussion with teams from the SFC (led by Mr Brian Ho, Executive Director, Corporate Finance), the Stock Exchange (led by Ms Bonnie Y Chan, Head of Listing) and the Financial Reporting Council (led by Dr Kelvin Wong, Chairman). From the discussion, HKIoD gained some insights and has some comfort and assurance to bring to our fellow directors.
The very purpose of the Joint Statement is to keep as much as possible the orderly and continuous running of the Hong Kong financial market. A blanket delay for financial reporting can have serious detrimental effect on the credibility of the Hong Kong market.
Under the Joint Statement, an issuer's board may have to release financial information before the auditor can perform work. Based on our understanding, however, the regulators are fully mindful that this is a difficult situation affecting many. Directors need not become too worried so long as they have faithfully performed and discharged their duties.
We have the following guidance and advice for directors.
Link: www.hkiod.com/document/7Feb2020_final.pdf
About The Hong Kong Institute of Directors
The Hong Kong Institute of Directors is Hong Kong's premier body representing directors to foster the long-term success of companies through advocacy and standards-setting in corporate governance and professional development for directors. A non-profit-distributing organisation with membership consisting of directors from listed and non-listed companies, HKIoD is committed to providing directors with educational programmes and information service and establishing an influential voice in representing directors. With international perspectives and a multi-cultural environment, HKIoD conducts business in biliteracy and trilingualism. Website:
http://www.hkiod.com
.
For more News Releases & Responses to Public Issues by HKIoD, please visit:
https://www.hkiod.com/newsrelease.html
.
Media Enquiries
Ms Moni Ching (+852 2889 1414;
moni.ching@hkiod.com
)
Source: The Hong Kong Institute of Directors (HKIoD)
Sectors: Daily Finance, Daily News
Copyright ©2025 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
Related Press Release
The Hong Kong Institute of Directors Announces Winners
November 29 2024 21:06 JST
HKIoD Recommends Board Readiness Training for First-time Directors Before Appointment
August 28 2024 14:25 JST
Nomination Opens for 2024 Directors Of The Year Awards & Inaugural Climate Governance Awards
June 06 2024 16:03 JST
Hong Kong Capital Markets Forum 2024 "Driving Growth with Market Integrity and Sound Governance"
January 31 2024 14:00 JST
The Hong Kong Institute of Directors Announces Winners of Directors of the Year Awards 2023 at the Institute Annual Dinner
November 24 2023 17:40 JST
Directors' Symposium 2023: Transform for a Better Tomorrow
October 06 2023 10:22 JST
Nominations Open for Directors Of The Year Awards 2023 with the Theme "Transform for a Better Tomorrow"
June 06 2023 14:35 JST
The Hong Kong Institute of Directors Holds Silver Jubilee Dinner and Presentation Ceremony for Directors Of The Year Awards 2022
November 25 2022 15:16 JST
HKIoD joins Climate Governance Initiative and launches CGI Hong Kong Chapter
September 26 2022 10:23 JST
HKIoD Organises Directors' Conference 2022 - "From Resilience to Sustainability"
September 22 2022 20:20 JST
More Press release >>
Latest Press Release
DENSO Acquires Axia Vegetable Seeds to Realize Sustainable Agriculture
Jul 04, 2025 16:20 JST
MHIET Launches 450kW Gas Cogeneration System Capable of Hydrogen Co-Firing
Jul 04, 2025 15:13 JST
Yachiyo Engineering and NEC launch adaptation finance study in Indonesia to calculate the adaptation value of disaster prevention measures
Jul 04, 2025 13:25 JST
Fujitsu to implement store monitoring solution for METRO Inc. in Canada, enhancing operational efficiency and policy compliance
Jul 04, 2025 13:19 JST
Fujitsu to develop ETF trading platform based on TSE's CONNEQTOR and provide it to Australian Securities Exchange
Jul 03, 2025 11:14 JST
Mitsubishi Motors Launches the All-New Grandis for the European Market
Jul 02, 2025 12:10 JST
Valuufy partners with Mainichi Future Creation Lab, Supporting New Approaches to Business Sustainability
Jul 02, 2025 12:00 JST
Fujitsu launches solution to enhance customers' global supply chain resilience
Jul 02, 2025 11:32 JST
MHI Receives Order to Supply Four Circulating Water Pumps for Units 5 and 6 of Sanmen Nuclear Power Plant in China Under Collaboration with Dongfang Electric Machinery
Jul 02, 2025 11:30 JST
Multi-purpose Arena in Odaiba Aomi Area TOYOTA ARENA TOKYO Construction Completed
Jul 01, 2025 22:56 JST
1Finity, a Fujitsu company, commences operations and reveals brand identity
Jul 01, 2025 22:53 JST
MHI Thermal Systems Begins Field Test of Jointly Developed "Surplus Renewable Energy Absorption and Release System"
Jul 01, 2025 22:40 JST
Japan's Telecommunications Carriers Strengthen Disaster Response Through Collaborative Information Sharing
Jul 01, 2025 22:30 JST
JCB and Mandai Wildlife Group Deepen Partnership with exclusive discounts for JCB cardmembers
Jul 01, 2025 16:00 JST
Fujitsu provides Japan's first AI-powered cloud-based library search service
Jul 01, 2025 11:30 JST
JCB Brings Apple Pay to Cardmembers in Vietnam
Jul 01, 2025 11:15 JST
First Shipment of LNG from the LNG Canada Project
Jul 01, 2025 11:00 JST
Approval in Principle (AiP) for World's First LCO2 / Methanol Carrier
Jun 30, 2025 20:30 JST
Acropolis Rally Greece: Day 4 Sunday success and second overall for TOYOTA GAZOO Racing's Ogier
Jun 30, 2025 20:15 JST
Mitsubishi Fuso-Hino Merger: 4 Firms Collaborate for the Future of Commercial Vehicles
Jun 30, 2025 20:10 JST
More Latest Release >>