Hong Kong – Hong Kong is reinforcing its position as a leading international financial centre, setting a benchmark for corporate governance over RMIC with the implementation of the revised Corporate Governance Code (CG Code), according to a new report jointly published by KPMG and The Hong Kong Chartered Governance Institute (HKCGI). The report, Enhancing Accountability: Revised Corporate Governance Code on Risk Management and Internal Control Systems – Four Essential Questions for Directors To Ask & Answer, highlights how Hong Kong’s enhanced disclosure requirements are placing a greater emphasis for a structured review process of RMIC among listed companies supported by governance professionals as trusted adviserss.
Alva Lee, Partner, Head of Governance, Risk and Compliance Services / ESG Governance Services Lead, Hong Kong SAR, KPMG China, says: “Hong Kong’s revised CG Code marks a significant step forward in strengthening board’s accountability and transparency on RMIC systems. The new requirements not only raise the bar for RMIC’s disclosures, but also prompt boards to establish a clear review framework to demonstrate their commitment to robust governance. By adopting structured review processes and leveraging assurance mapping, companies can build greater stakeholder confidence and position themselves for long-term success in an increasingly complex risk environment through strong corporate governance over RMIC.
David Simmonds FCG HKFCG, President, HKCGI; Chief Strategy, Sustainability and Governance Officer, CLP Holdings Limited, says: “Risk management and internal control are central to sustainable business. HKCGI members, as governance professionals, provide the expertise and coordination needed to turn the CG Code’s expectations into practical, actionable processes. By linking directors, management, and external parties, they help ensure that reviews are rigorous, transparent, and credible, reinforcing accountability and stakeholder confidence."
[Press release in English version]
[Press release in Chinese version]