Issue no. 499 (13 June 2014)
 
  Dear members/member practices,  
     
 
  Highlights
 
 
  Positive outcome of meeting with
Ministry of Finance
 

Ministry of Finance met with Institute this week clarifying three main issues about the exposure draft.

 
1.

CEPA's direction of continuous opening up of the Mainland market remains unchanged.

2. Exposure draft's primary objective is to strengthen regulation over illegal cross-border audit activities in the Mainland. It is not targeting Hong Kong and Macau accounting profession.
3. The purpose of the ED is to collect views from all stakeholders, including those from Hong Kong and Macau. MoF would maintain continuous dialogue with Hong Kong relating to the subject matter of the ED.

Click to see SCMP report and recent media coverage.
 

A Plus – Yahoo on the move

Yahoo Finance Director Rita Kok talks about the challenges and fun of working in the fast-moving technology world in the June issue of A Plus. Other features include: an interview with the first President and CEO of the newly formed accounting body CPA Canada, how CPAs combat cybercrimes, new development of management accounting and Institute members making a difference to the community. Click here to read the features.


Journal of International Accounting Research Conference
The Journal of International Accounting Research Conference took place in Hong Kong this year, where Sir David Tweedie, former IASB Chair and current Chair of IVSC's Board of Trustees, gave a keynote speech about an international perspective on improving the audit, and Institute Chief Executive Raphael Ding and Executive Director Chris Joy participated in a panel discussion on mandatory auditor rotation on 5 June.
 
  Professional development and events

Handling shareholder disputes

The seminar on 15 July will introduce legal principles for handling shareholder disputes under the new Companies Ordinance and how these principles are applied to enforce corporate governance. +

Cloud computing
Enrol in the seminar on 9 July, which will talk about the concepts, benefits and risks of cloud computing, and considerations on cost structures of IT infrastructures. +

Reminder
Apply for the Specialist Designation in Insolvency by 8 Aug., which is open to members who have considerable experience and competencies in insolvency practice and have gained the SQ (Insolvency). Holders of the designation are entitled to use "SD (Insolvency)" after their names.
The Corporate Finance Interest Group seminar on 23 June will talk about the investigation powers of regulators and how to deal with requests for provision of documents, written answers and interviews.
Sign up for the workshop on 11 July to learn more about the importance of valuation and fair value measurements during an audit. +

Understanding materiality for ESG reporting
Institute members get special rates for the Business Environment Council's courses on 18 July and 29 Aug., covering corporate sustainability development and materiality for environmental, social and governance reporting. +

Mainland tax journals
Subscription to the China Taxation (中國稅務) and International Taxation in China (國際稅收) are now available until 27 June. +
 
   
Fitness training class
Come join the weekly fitness training from July to September to maintain a healthy lifestyle.

Discount offers
Kaplan is now offering bursary on selected postgraduate programmes and discounts for the full GMAT preparation course with mock exam and consultation. +
 

Invitation for views on Competition Ordinance
The Competition Commission has published a paper Getting Prepared for the Full Implementation of the Competition Ordinance to explain its role, the benefits and key elements of the competition rules. The commission is collecting stakeholders' feedback on trade practices in Hong Kong to develop draft guidelines for consultation later this year.
 
  Tech updates
Proposed topics for technical learning and support programme
Click here to see the tentative list of topics for the technical learning and support programme from July 2014 to June 2015.

Latest IFRS developments
PwC issued updates of the latest developments on IFRS. +
 
  Lifestyle
CPA bridge tournament results
Andy Leung and Tam Ka-wing clinched championship in this year's CPA bridge tournament. Lee Kam-kau and Fok Kai-kwong placed second, and Fok Tsz-him and Fung Siu-fan the third. Click to see photos.

Recruitment of bridge team members
The Bridge Interest Group is recruiting members for the Inter-Organization Bridge Tournament on 29 July and the Inter-City Feishang Swiss Team Championship on 2 Aug. A selection process will be conducted by panel members. Join the CPA team now.

Merry Monday
Merry Monday in July will be a Grand Cru Champagne tasting session. Kay Park from Wine High Club, holder of WSET Level 3 Certification, will share with you her knowledge on Champagne.

Pleasure vessel operator course
Enrol in the pleasure vessel operator course if you plan to get a boating license for pleasure vessel in the Hong Kong water.

Reminder: Bowling league
Form your team to have fun in the summer bowling league.
 

Quick links:
A Plus At-a-glance calendar
Technical resources Visit our website
SMP and SME resource centre Change personal information
CPD learning resource centre Email us
Hong Kong CPA Practice Directory See past e-circulars
HKICPA Source  

For general enquiry regarding content of this circular, please call 2287-7228.

 

If you require any technical assistance on this transmission, please contact IT support team at 2287-7800 or itsupport@hkicpa.org.hk.


Your personal data collected from the enrolment process and administration of courses will be used for the purpose of the administration of the course on which you are enrolled. Such data collected may be accessible by the Institute's officers, persons or committees processing the application and related matters. In addition, the Institute may use the collected data for statistical research and analysis and, if applicable, for validation of CPD hours. The Institute intends to use the personal data of your name, email address and correspondence address to inform you, where relevant, of CPD activities, members' benefits, goods, services, facilities and events organized or provided by the Institute or other organizations. Members and registered students may opt out of receiving such materials at any time by logging in here. Non-members may opt out of receiving such materials at any time by sending an email to the Institute at privacyofficer@hkicpa.org.hk or a letter to the Institute's privacy officer. For more information about the privacy policy of the Institute, please click here.


Disclaimer
Some sections contain information from outside sources. We endeavour to link to reputable sources but the Institute is not responsible for the accuracy of the content and the content does not necessarily represent the views of the Institute.

For merchandise discounts, please click here for terms & conditions.

This email together with the file(s) transmitted is intended solely for addressee(s) only and may contain confidential or privileged information. If you received this email in error, please contact the sender and delete it together with its attachment(s) from your computer(s). You should note that the views expressed in this email are those of the author and do not necessarily represent those of the Institute. The recipient should check this email and all attachments for the presence of virus. The Institute will not accept liability for any damage caused by any viruses transmitted with this email.