Under the further reform of the regulatory regime of the accounting profession, on 1 October 2022 the Financial Reporting Council (“FRC”) (which will be renamed as the Accounting and Financial Reporting Council (“AFRC”)) will assume the responsibilities for the following registration functions:
• Registration of PIE auditors
• Issuance of practising certificates to certified public accountants
• Registration of firms
• Registration of corporate practices
To help Practice Units gain an in-depth understanding of the AFRC’s requirements and procedures for registration as Practice Units and PIE auditors and in particular, the upcoming annual renewal, the Society of Chinese Accountants & Auditors (“SCAA”) will organize a webinar on 12 October 2022 with speakers from the FRC. The presentation will cover the following:
• Update on the registration requirements of Practice Units under the AFRC regime
• Procedures for the 2023 renewal of practising certificates, firm and corporate
practice registration

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