Following the Enron and WorldCom scandals, people around the world began to talk about improving corporate governance and the internal audit (IA) function. However, whether an organization should employ it own internal audit staff to perform this essential check or outsource the function to external consultants has in recent years become a debatable topic. There[…]

According to Companies Registry External Circular, on 12 July 2012, the Companies Bill was passed by Legislative Council. The new Companies Ordinance (“the new CO”), which consists of more than 900 sections and 10 schedules, the major initiatives in the new CO are listed as following: Restricting Corporate Directorship in Private Companies Clarifying Directors’ Duty[…]