Issue no. 498 (6 June 2014)
  
  Dear members/member practices,  
     
 
  Highlights
 
  Roundtable on macro hedging  

The Institute hosted a roundtable discussion on 29 May, where IASB Board Member Darrel Scott and staff exchanged ideas with Hong Kong preparers and auditors on its discussion paper of macro hedging. Institute members and stakeholders are invited to give feedback by 15 Sept. +

 
Meeting with Guangdong Provincial Local Taxation Bureau

Institute representatives and the Guangdong Provincial Local Taxation Bureau held an inaugural liaison meeting in late 2013 to discuss and exchange views on various tax topics. Click here to see the meeting notes for details.
 
  Professional development and events

Revised SME-FRF & SME-FRS e-seminar
New e-seminar on revised Small- and Medium-sized Entity Financial Reporting Framework and Financial Reporting Standard is now available, through which you'll learn the qualifying criteria and main changes of the standard.
Application issues of HKFRS 13 on investment properties
Sign up for the seminar on 27 June to learn more about the disclosure requirements on investment properties and how to apply them in practice and avoid common misperceptions and pitfalls. +
Annual taxation update
The annual taxation update conference on 12 July will cover recent changes in Hong Kong tax legislation, update on departmental interpretation and practice, Hong Kong board of review decisions and court cases, and key changes in Mainland taxation.
VAT reform in China
Enrol in the seminar on 7 July talking about value added tax and business tax systems in China, and tax planning opportunities and tax traps in VAT and business tax. +
"Think Asia, Think Hong Kong" in France and Italy
CPA practices are invited to participate in "Think Asia, Think Hong Kong" in Paris and Milan on 28-30 Oct. to promote professional services to European enterprises and explore collaboration opportunities. Submit the application form to Hong Kong Trade Development Council by 30 June or call 2584-4532 / 4359 for enquiries.
Directors of the Year Award
Come join the Directors of the Year Award organized by the Hong Kong Institute of Directors. The nomination deadline is on 31 July.
 
   
Reminder: Second mini bridge tournament
Don't miss the second mini bridge tournament of the 2014 season on 28 June to contend for the Bridge Interest Group Trophy.
 
to CPD learning centre and events calendar for more activities.
 
  Tech updates
Invitation to comment
The Institute's Ethics Committee is seeking comment on IESBA exposure draft on Proposed Changes to Certain Provisions of the Code Addressing Non-assurance Services for Audit Client until 25 July.
Members' handbook update
Members' handbook update 148 contains Accounting for Acquisitions of Interests in Joint Operations (amendments to HKFRS 11) and Clarification of Acceptable Methods of Depreciation and Amortization (amendments to HKAS 16 and HKAS 38).
Application of disclosure requirements in IFRS 7 and 13
PwC has published a Q&A on disclosure requirements contained in IFRS 7 Financial Instruments: Disclosures and IFRS 13 Fair Value Measurement. +
Companies Ordinance update
Zhonghui Anda has published an update to highlight requirements for the change of financial year end date. +
 
  Lifestyle
Dragon boat fun day and eco tour
Come join the dragon boat fun day with an eco tour on 13 July to get a taste of paddling and explore the Hakka Village.
Dance classes in July
Classes of Waltz, Jive, Jazz Funk and Jazz in July are open for enrolment. Pick your choice to dance away the pressure from your busy work.
Calligraphy class
Another class on Xing Shu (行書 – 蘭亭序), which comprises 15 lessons on Saturday afternoon, will commence on 28 June. +
 
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