In January 2020, Gary Cheng CPA Limited was one of the 48 CPA firms in Hong Kong accredited as PIE (Public Interest Entity) Auditors. PIE Auditors is a qualification for the audit engagements of listed companies or listed collective investment scheme in Hong Kong Stock of Exchange (HKEX).
As at February 2020, there are only 48 registered CPA firms are PIE auditors. Under the Financial Reporting Council (“FRC”) Ordinance, a person wishing to perform a public interest entity (“PIE”) engagement is required to be registered with HKICPA as a Registered PIE Auditor (for local auditors) or recognized by FRC as a Recognized PIE Auditor (for overseas auditors).
With the aim of reinforcing the reputation of Hong Kong as an international capital market, the new regime for regulation of PIE auditors came to effect on 1 October 2019, the Financial Reporting Council (FRC) regulates auditors of listed entities while HKICPA establishes and maintains the register of PIE auditors.