Controls assurance

Prior to listing in Hong Kong, PwC can help with internal control reviews as required under Practice Note 21 (PN21). We also help addressing the requirements of the Corporate Governance Code after successful listing. For listing in Mainland China, PwC helps you with C-SOX internal control management addressing both financial reporting and non-financial objectives. For companies looking to list in the US, we advice on control aspects under Sarbanes-Oxley Act, combining our experience of advising and auditing s404 to develop a risk-based, top-down approach, tailored to each company’s unique circumstances.

PwC assists companies to integrate Environmental, Social and Governance (ESG) into their risk management and business decisions covering a wide range of initiatives and issues including green finance, sustainability and climate change, responsible/ethical investing, corporate social responsibility and more…

PwC China’s data and analytics team helps companies to discover the value of data and build trust in data. We use a variety of advanced data analysis models, artificial intelligence algorithms and other technologies to conduct in-depth mining and analysis of enterprise operational data, helping companies of different industries to deal with their “pain points”, meet different data analysis and insight needs, and to incorporate data and analysis into business operations, allowing companies to face new challenges more effectively.

How we can help

Our Regulation and Compliance team can help clients at the strategic level – by maximising any competitive advantages from regulation through to the operational level. We work with you to minimise costs and disruptions to your business, freeing up management time in the process. 

• Benchmarking and planning of State-Owned Enterprise (SOE) reform, mixed-ownership reform, SOE development and emerging industries development
• Developing and implementing a risk-based compliance control framework and monitoring programme 
• Internal audit
• Effectiveness reviews of current compliance departments/ Help in establishing an appropriate compliance culture within your business
• Risk assessment on outbound investment
• Assessment of your current and future regulatory risk profile and impact of new regulations for financial holding companies, industry groups in finance and industry investment funds
• Establishing PPP (Public—Private—Partnership) project management and governance mechanism
• Advice and assistance in meeting regulatory standards and expectations for mergers and acquisitions
• Assistance and support in dealing with regulatory enforcement actions and remediation exercises

Case study 1:
Helping an asset management company to overcome difficulties in complying with Common Reporting Standard (CRS)
Our solution: Provided advice and recommendations on implementing CRS in accordance with the Inland Revenue (Amendment) (No. 3) Ordinance 2016 and the Guidance for Financial Institutions released by the Inland Revenue Department (IRD). Read more

  
Case study 2:
Helping a local banking group to overcome difficulties in complying with the Foreign Account Tax Compliance Act (FATCA)
Our solution: Provided advice and recommendations on implementing FATCA through identifying the statutory requirements of FATCA and the Hong Kong Inter-Governmental Agreement with the US (HKIGA). Read more

  
Case study 3:

Helping a major retail bank in Hong Kong to overcome difficulties in assessing compliance with the Guideline on Information Required for Determining and Paying Compensation (the IS Guideline) for Deposit Protection Scheme (DPS)
Our solution: Assembled a team with extensive experience and knowledge to assist the bank in conducting DPS IS Guideline independent assessment with proprietary data quality checking tool. Read more

Case study 1:
Helping a foreign investor to review and control inherent risks in a construction project
Our solution: To review controls, identify existing or potential risks and provide recommendations for improvement in construction and risk management.
    

Case study 2:
Helping a listed real estate development company to standardise their construction project management internal control processes

Our solution: Established a good understanding of the client’s business and assessed their operational risks. We performed a diagnosis of existing processes and provided recommendations on internal control for the client’s business.

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