Aug 20, 2024
This is a joint submission prepared by the Association of Women Accountants (Hong Kong) Limited (“AWAHK”) and Shenzhen Hong Kong Macau Women Directors Alliance Limited (“SHMWDA”).
AWAHK is an accounting professional body of qualified accountants (both practising and non-practising accountants) set up to advance professionalism in the accountancy service by promoting development and diversity through a broad-based network and to promote work-life integration and social responsibilities.
SHMWDA aims to promote board and senior management diversity as well as inclusivity in its broadest sense, especially in terms of gender diversity, to foster optimal leadership and corporate governance.
AWAHK and SHMWDA are actively participating in promoting good corporate governance. We submitted our reply to HKEX’s consultation paper dated April 2021 and were pleased to observe most of our recommendations were taken into consideration in the conclusive paper. A pool of professional talents is also available in our Board Talent Hub for organizations (both public issuers and private entities including NGOs) which are interested in recruiting. Please refer to our website https://www.awahk.hk/en/talent-pool/ for further details.
A discussion forum on this 2024 Consultation Paper was jointly organized by AWAHK and SHMWDA on 30 July 2024 with guest speaker, Ms Kelly Lee of HKEX, and a panel with diverse background. We are grateful for HKEX’s support to this forum as well as our members and guests’ participation in sharing their invaluable view on this important matter. Please refer to our website https://www.awahk.hk/en/events/563/for further details on this forum. Polling and survey results on key areas of the Consultation Paper took place and their feedback/comments are included in our responses in Appendix enclosed.
Generally speaking, we welcome the direction put forward in this Consultation Paper for the five major areas, namely (A) Board Effectiveness, (B) Independence of INEDs, (C) Board and workforce diversity, (D) Risk Management and Internal Control, as well as (E) Capital Management. Nevertheless, further factors are suggested to be taken into consideration before confirming relevant changes. Please refer to specific comments and concerns in Appendix on each of these areas.
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