Independent Checks and Balances

Reviews

To ensure fairness in operational procedures, the MPFA invites external reviews of its operations from time to time. Over the years, the policies and procedures of individual departments had been reviewed by the Independent Commission Against Corruption (ICAC) to ensure that the control measures are adequate from the ICAC’s point of view. Consultants had also been engaged to review the information technology and financial control policies of the MPFA.

The financial statements of the MPFA are subject to audit by an external auditor. During the auditing process, the auditor would also provide management comments as appropriate.

Appeal Boards

The Mandatory Provident Fund Schemes Appeal Board established pursuant to section 35 of the MPFSO hears appeals against any decision specified in Schedule 6 of the MPFSO. The Occupational Retirement Schemes Appeal Board established pursuant to section 61 of the ORSO hears appeals against the ORSO Registrar’s decisions as specified in the ORSO.