News

Issue no. 504 (18 July 2014)

Dear members/member practices,

Highlights

President talks to media about the profession's prospect

Sing Tao Daily today featured a full-page interview of the president, who commented on the challenges and opportunities in cross border auditing, improving regulatory regime for listed entity auditors and other topical issues. For more updates about the audit reform including media articles written by members, visit the Institute's dedicated webpage.

CPAs honoured for contribution to Hong Kong

We wish to congratulate these members for receiving recognition for their distinguished services to the community:


	Silver Bauhinia Star: Carlson Tong (SFC Chairman), Lesley Wong (former director of accounting services) and Quinn Law (former managing director of Urban Renewal Authority)

	Bronze Bauhinia Star: Albert Au (BDO Chairman) and Josephine Leung (Deputy Director of Audit)

	Medal of Honour: Joanne Chong (Business Development Manager of Deloitte) and Edith Ngan (Chief Executive of Hong Kong Securities and Investment Institute)

We would also like to congratulate the Institute's long time working partner Au King-chi, Permanent Secretary for Financial Services and the Treasury (Financial Service), for receiving Gold Bauhinia Star. Click here for details.

Hong Kong tax agreements update

Speakers from the Inland Revenue Department will discuss issues relating to Hong Kong tax treaty network at the seminar on 30 July, including treaty benefits, anti-abuse provisions, tax residence, beneficial ownership and mutual agreement procedure. +


	Professional development and events

FATCA's impact on Hong Kong

Learn more about recent developments of the U.S. Foreign Account Tax Compliance Act and its impact on taxpayers in Hong Kong at the Taxation Faculty seminar on 21 Aug.

New listing application requirements

The seminar on 26 Aug. will give an overview of HKEx's new listing requirements and their impact on the capital market. +


	Working capital funding in business
	Sign up for the seminar on 13 Aug. which will talk about different types of available working capital funding and their tax implications. +

Webinar on macro hedge accounting under IFRS 9

Enrol in the webinar on 2 Sept. to learn more about the current status and main aspects of the macro hedge accounting model, and its application under new requirements. +


Reminders
		Come join the consultation forum on 21 July to express your views on standard working hours.

		Don't miss the youth forum on 26 July with the topic "Hong Kong 2030: An ideal city?"


	How to apply your skills to make a difference to the community? Come to the sharing session on 2 Aug. to learn more.

Reminders
	Come to the Merry Monday on 4 Aug. to taste some chilled white wines amid hot summer.

	Limited places are available for the classes of Samba, Waltz, Jazz Funk and Jazz in July and August.

How to avoid practice promotion pitfalls?

How CPAs can avoid breaching laws and regulations when promoting their professional services? Get more guidance from this article published in the latest issue of A Plus, which also carries several articles catered to SMPs, including IESBA's ED on non-assurance services and IASB's discussion on portfolio revaluation approach.


	Tech updates

IASB active projects

EY has published a guide to summarize key features of the IASB's active projects together with their potential implications. +

Practical guide to new IFRS for 2014

PwC has published a guide to IFRS that comes into effect for 2014 year end. +

Applying IFRIC 21

EY has published a guide to discuss application issues relating to IFRIC 21 Levies. +

Lifestyle

Ukulele class

Our first ukulele class will take place in September and members may choose the Wednesday or Thursday evening classes. Come experience the fun of this Hawaiian traditional instrument.

Singing technique classes

Enrol in the singing technique classes to be held on 6 Sept. and 25 Oct. to sharpen your vocal skills. Join both modules and receive a special rate.

Wine discount

Watson's Wine is offering more than 20% discounts on selected wines until 31 July.


Reminders (continue)
	Join the Sports and Recreation Club Night on 8 Aug. to share the glory of our sportsmen and find out how SRC can help you maintain a balanced lifestyle.


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

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