Issue no. 288 (12 February 2010)
Dear Members / Member Practices,
 
  Institute news
 
 
 

Corporate rescue review

  
In response to the government consultation on corporate rescue, the Institute asks for more flexibility in terms of the period of the freeze on creditor actions, and in funding employees' entitlements, to boost the chances for troubled companies to be turned around. Johnson Kong told reporters at a press briefing on 9 Feb. that the financial crisis has made the need for better corporate rescue procedures urgent. Click to see press releases and full submission.
   
Firm directory
A new portal for CPA firms to introduce their service is now online. The firm directory is an up-to-date searchable database of accounting firms in Hong Kong. The directory has multiple search options for new customers to quickly identify accounting firms that match their business needs. If you have any questions or wish to upgrade your firm’s entry, please email to firmdirectory@eightcustommedia.com or call 2836-8993.
Audit practices consultation
More than 500 members attended the information sessions on 2 and 8 Feb. to exchange views with the Institute's president Wilson Fung and chief executive Winnie Cheung on the consultation paper on proposed changes to auditing practices. Check out the English and Chinese presentations. The consultation ends on 1 March so send your comments to admission@hkicpa.org.hk.
New jobs and resources at A List
Finance manager - SAP implementation, Ambition
Financial analyst, Hudson
Assistant finance manager, Hong Kong Baptist University
Director, CML Recruitment
Transfer pricing is now one of the fastest growing specializations in the accounting profession in Greater China and suitable candidates are expected to receive attractive salaries. Read the article on A List to learn more and see job postings.
AGM minutes
The minutes of the Institute's 37th annual general meeting held last Dec. have been published.
Holiday break for e-circular
The e-circular will be suspended for one week over lunar New Year and will resume the week of 22 Feb.
 
  Professional development and events
Fraud prevention and forensic accounting
What can a business do to reduce the risk of irregularities, safeguard key assets and protect its reputation? Come to the PAIB seminar on 29 March to learn more.
Anti-money laundering
The seminar to be hosted with the Narcotics Division on 4 March will explain what accountants should do to combat money laundering and terrorist financing. Both English and Cantonese sessions are available. +
Shareholder rights
Co-organized with the Institute of Chartered Secretaries and the Law Society of Hong Kong, the seminar on 22 March will explain how shareholders' rights can be enforced and protected. Institute members enjoy special rates. +
Credit analysis for SMEs
This case study workshop (part two) on 18 March will discuss the financial ratios that banks use to evaluate the credit worthiness of SMEs. +
Be persuasive
This two-day workshop on 16 and 22 March will illustrate how to communicate persuasively by matching listeners’ preferences and skilfully structuring your content. Members can enrol in individual modules or both. +
Improving communication skills with MBTI®
Sign up this workshop to learn how to identify personality preferences with a scientific tool called the Myers Briggs Type Indicator. The Cantonese session is taking place on 27 March while English is on 29 May. +
 
  Tech update
Limited exemption from HKFRS 7
Members' handbook update no. 77 contains limited exemption from comparative HKFRS 7 Disclosures for First-time Adopters.
FAQ on clarified ISAs
IAASB has issued frequently asked questions to clarify concerns on the transitional arrangement in the first year of implementation of ISAs and audits of SMEs.
 
  International news
Europe weighs rescue plan for Greece
The Wall Street Journal reports Germany is considering a plan with its European Union partners to offer Greece and other troubled euro-zone members loan guarantees to calm fears of a government default and prevent a widening of the credit woes. +
Barclays chief condemns financial reform
John Varley, chief executive of Barclays, has attacked plans by the U.S. to force banks to shrink and to stop certain activities such as trading on their own account. He warned this decision to break away from other countries in unveiling a set of draconian rules could be harmful for the banking industry and ultimately customers, Times Online reports. +
 
   
Shenzhen trip
Organized with the Hong Kong Trade Development Council, this study mission on 26 March will visit the ChiNext of Shenzhen Stock Exchange and BYD Auto, and mainland counterparts. +
Learn more about election
Register before 8 March for a free guided visit to the Electoral Information Centre on 18 March to learn more about the electoral system, arrangements for different elections, and the centre's facilities. +
 
  Leisure
Merry Monday
The first introductory wine appreciation course for novices will be held on 1 March.
Last call: dance class
Come join the Cha Cha dance class in Feb. and register on or before 12 Feb.
 
to at-a-glance calendar for more member activities.
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