Hong Kong Finance Group Limited (Stock Code: 1273) released an updated Terms of Reference for its Audit Committee, outlining membership rules, procedures, authority, and duties aimed at strengthening oversight of the company’s financial reporting, risk management, and internal control processes.

According to the document, the Audit Committee must be composed of Non-Executive Directors, with at least three members and a majority being Independent Non-Executive Directors. One member must have professional accounting or related financial management qualifications. The Committee is tasked with reviewing and monitoring the external auditor’s independence and performance, as well as handling the Group’s financial statements, annual and interim reports, and accounting practices.

The Terms of Reference emphasize that the Audit Committee has the power to seek relevant information from company employees and professionals, investigate any suspected fraudulent activities, and oversee the Group’s internal audit function. Additionally, the Committee holds veto rights regarding certain connected transactions and the hiring or dismissal of senior financial oversight positions. The updated document also specifies regular private meetings with external auditors—held at least twice annually—and ensures that the Audit Committee has sufficient resources to carry out its responsibilities.

The updated Terms of Reference were amended on 2 February 2026 and are available on the company website and the website of The Stock Exchange of Hong Kong Limited.