Hong Kong-listed companies must now obtain shareholder approval to appoint or remove auditors, following new guidance from Hong Kong Exchanges and Clearing Limited to strengthen governance and transparency in the $7.5 trillion market. Firms must also disclose audit fees or ranges. The rule closes loopholes allowing boards to pressure resignations without oversight, and treats resignation-triggering actions as removals requiring a vote. Regulators are also cracking down on “opinion shopping.” The

Hong Kong-listed companies must now obtain shareholder approval to appoint or remove auditors, following new guidance from Hong Kong Exchanges and Clearing Limited to strengthen governance and transparency in the $7.5 trillion market. Firms must also disclose audit fees or ranges. The rule closes loopholes allowing boards to pressure resignations without oversight, and treats resignation-triggering actions as removals requiring a vote. Regulators are also cracking down on “opinion shopping.” The Securities and Futures Commission found 89 auditor resignations near reporting deadlines, 66 linked to fee disputes.