News

Issue no. 349 (2 June 2011)

Dear members/member practices,

Highlights

Collaborating with the Beijing Institute to support SMPs

The Institute signed a letter of intent with the Beijing Institute of CPAs on 28 May to boost cooperation among small- and medium-sized accounting firms in both cities. The agreement will allow SMPs to share knowledge and business development opportunities. A second signing ceremony will be held in Beijing on 3 June. Click to see the chief executive's letter for details and the first signing ceremony's photos.

IFRS Foundation roundtable in Hong Kong

The IFRS Foundation trustees are visiting Hong Kong on 8 June for its worldwide tour of roundtables on setting the strategy for the foundation’s second decade, which focuses on four areas: its mission, governance, standard-setting process and financing. Click here if you want to join the webcast.

QP video wins international award

The Institute’s QP video, an animated film showing how students can pass different stages in their journey to become a CPA, won a silver prize in the 2011 Questar Awards, the international accolade for excellence in video communications.

Fraudulent IRD website

The Inland Revenue Department has issued an alert on a fraudulent website that looks similar to its official website (www.ird.gov.hk). IRD says it has no connection with the fraudulent website. Click here to see the alert.


	Professional development and events

Minimum Wage Ordinance forum

More than 280 people attended the Minimum Wage Ordinance forum organized by the Institute, the Society of Chinese Accountants and Auditors, the Accounting Resources Centre and LegCo representative Paul Chan's office on 21 May. Click to see the Labour Department's Chinese presentation and the forum's Q&A and visit its homepage for guidelines, minimum wage calculators and other useful information.

Regulatory changes for Hong Kong investors

The seminar on 11 July will talk about how regulatory changes made by the Securities and Futures Commission will affect the fund management industry and investors. +

Operational risk management

Sign up for the seminar on 7 July to learn the definition, key elements and basic tools for operational risk management. +

Alternative dispute resolution

How can you use alternative dispute resolution, such as arbitration and mediation, to resolve conflicts and avoid litigation? Come to the seminar on 27 June to learn more. +

Regulatory update for the China property market

To learn more about the restrictions, opportunities and foreign exchange controls in the China property market, come to the seminar on 13 July. +

China private equity summit

Members get special rates for the China private equity summit organized by the Hong Kong Venture Capital and Private Equity Association on 13 June. Click here to enrol.

Internship for Yuen Long students

Member firms and employers are invited to offer work opportunities to form four and five students from Yuen Long under the Hong Kong Coalition of Professional Services’ internship programme.

Reminder: PRC accounting exam

Deadline to enrol via the Institute in the July-August 2011 diet of PRC accounting qualification examination in Shenzhen is 7 June.

	Tech update

Invitation to comment

The Institute's auditing and assurance standards committee is seeking comments on exposure draft on Revised Practice Note 600.1 Reports by Auditors under the Hong Kong Companies Ordinance.

Institute comments on IAASB international standard

The Institute has commented on IAASB Proposed International Standard on Review Engagements 2400 (Revised) Engagements to Review Historical Financial Statements.

Practical guide to new IFRSs for 2011

PwC has published a practical guide to the new IFRS standards and interpretations that come into effect in 2011. +

Lifestyle

25.35 group networking party

The new 25.35 group for young members is organizing its first networking party on 17 June at Lily & Bloom, one of the Lan Kwai Fong's newest bars.

Joint professional marathon competition

Congratulations to our CPA runners who swept 10 awards in the nine race categories in the joint professional marathon competition, based on their achievements in the Standard Chartered Hong Kong Marathon 2011. Click to see full results and photos.

CPA bridge tournament

Congratulations to Chan Suk-king and Shum Man-to,

champions of the CPA bridge tournament held on 28 May. Click to see photos.

The deadline to enrol in the second mini bridge tournament is 3 June.

Dance classes

Enrol in rumba and waltz classes held in the members' lounge and cha cha, jive and waltz classes held in an outside studio in July. We have deepened rumba technique training so don't miss it.

Last call for the paso doble class, which starts on 14 June.


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