Issue no. 289 (25 February 2010)
Dear Members / Member Practices,
 
  Institute news
 
 

Institute says budget too cautious

  
The economic recovery gives the government an opportunity to do more, the Institute says, and the budget does not sufficiently address long-term tax competitiveness. Click to see the press releases and our budget proposals submitted earlier. On the eve of the announcement, the Secretary for Financial Services and the Treasury K.C. Chan and LegCo representative Paul Chan talked to more than 100 members at the Institute’s forum. Click here to see photos.

Media coverage
Being positioned as giving expert opinion on the budget, our media release was covered in 11 news stories, along with interviews with the tax committee chair Ayesha Macpherson. Click here for a summary of coverage.
   
Institute named the "most supportive group" at marathon
The Institute has been awarded the “most supportive group” at this year's Standard Chartered Marathon for having 300 committed CPA runners. Click to see the photos from the awards ceremony on 20 Feb. and enrol in the cheering team for this Sunday’s race.
New jobs and resources at A List
New on our A List job site are two new articles – one about the job market and one about how to ace an interview. Also up are some great new jobs – two of them senior positions with the Institute:
Director, compliance and director, finance and operations, Hong Kong Institute of CPAs
Financial analyst, Hays Specialist Recruitment Ltd.
Financial controller, Hudson
Operational risk manager, CML Recruitment
Applying ISA cost-effectively
IFAC has issued tips to help SMPs apply ISAs in a cost-effective manner. +
IFAC global leadership survey
Global accountancy leaders want to increase pressure for adoption, implementation and enforcement of standards crucial to investors and financial stability, according to IFAC's revised third annual global leadership survey. More than 110 leaders of IFAC members and regional bodies participated. +
 
  Professional development and events
CFIG spring cocktail
Michael Cheng, senior vice president (listing division) of HKEx, will speak about the outlook for 2010 at the corporate finance interest group's spring cocktail on 10 March.
Privatization and takeovers
Another CFIG event on 15 March will explain why a public company would want to privatize, the relationship between listings and takeovers, and more. +
Financing in a volatile market
How does a corporation finance its business operations and what are the risks? Come to PAIB forum on 15 March to learn more.
Managing risk amid crisis
Join this seminar on 17 March to learn about the financial crisis and fair value accounting, and the risk exposures of financial instruments. +
Compliance gets easier
This seminar on 24 March will focus on how electronic filing proposed by the Companies Registry can improve the efficiency of corporate compliance. +
Analyzing financial statements
This case study workshop on 27 March will teach you how to analyze and interpret financial ratios to assess financial risks of a company. +
Audit service wanted for HKADC
Hong Kong Arts Development Council is inviting CPA practices to join as their project auditors. Please contact Ryan Ding of HKADC at 2820-1018 for details. +
  Tech update
Members' handbook update
Members' handbook update 78 contains handbook improvements arising from consequential amendments to HKFRSs.
IASB and FASB meeting
The Feb. meeting update between IASB and the U.S. Financial Accounting Standards Board is now available online. +
Bulk purchase discount
Institute members get discount until 19 March on 2010 IFRSs Bound Volume and IFRS, Consolidated without early application. +
 
  Business news
HSBC to scrap chief's pay rise
HSBC is expected to scrap a pay rise of almost 40% for its chief executive Michael Geoghegan because of shareholders’ anger, and they will decide on his annual bonus for 2009 later, Times Online reports. +
Guangdong labour shortage
China Daily reports Guangdong manufacturers are facing a shortage of workers after the Spring Festival. Some people attributed this to a lack of long-term employment strategies and the provincial government's industrial transfer plan. +
 
  Leisure
Graded bowling competition
The bowling interest group has organized the first annual graded bowling competition on 27 March for all novice and experienced bowlers.
Dance class
New classes for tango and rumba in March and April are now open for enrolment. +
 
to at-a-glance calendar for more member activities.
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