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Message from the leadership
This new course will join our specialist programmes,
including our specialist qualification and specialist
designation in insolvency and our professional diplomas in
taxation. These programmes have had several successful
cohorts since they were launched, helping our members who
are interested in these areas to develop the specialized skills
to prosper.
A broader initiative to allow members to gain new
knowledge was the launch of a series of keynote events at
which prominent leaders, including those in business and
in government, have been invited to speak. Highly popular
ones so far include the Current Affairs series, the first
event of which was on “One Belt, One Road” and the Asian
Infrastructure Investment Bank, delivered by the Deputy
Commissioner of the Office of the Commissioner of the
Ministry of Foreign Affairs of the PRC in Hong Kong.
Through careful stewardship of our finance and
operations, the Institute has once again posted a surplus
for this financial period. While ensuring that the Institute
maintains a strong financial position to take on future
challenges and enhance services tailored for our members,
part of the surplus totalling about HK$7.5 million will be used
to give members a rebate, which we encourage them to use for
professional development.
For the last two years, the Institute held some of its
bank balances in RMB deposits to benefit from a higher
interest yield, which was reflected in the financial
statements of the last two years. Due to recent devaluation
of the currency, the Institute has incurred an exchange rate
loss upon maturity of the deposits after the reporting date.
The impact has been disclosed in the notes to the current
year’s financial statements and will be reflected in next
year’s results. Other than that, the Institute does not have
any other exposures in foreign currency or investments in
securities or other financial instruments.
We endeavour to listen to members’ views at every
opportunity, and we plan to make the view-gathering
process even more efficient and effective in future through
a new member activity system. It will capture and analyse
data related to our members so that we can provide tailored
services relevant to each of their diverse needs.
This year, we completed another membership survey, and
members who took part expressed that CPD and professional
development are high on their list of priorities. The Council
and management will make it the top of the Institute’s.
Meanwhile, we continue to improve our communications
with members and other stakeholders, especially as the
Institute’s membership become younger and more diverse.
This year we refreshed
A Plus
magazine’s design and content
with new elements including thought leadership and practical
advice on career advancement; we conducted a survey among
Dennis Ho
President
DingWai Chuen, Raphael
Chief Executive and Registrar
members and set in motion a thorough implementation plan
to launch a meaningful social media programme; and we are
studying how to revamp the Institute’s website to make it easily
accessible through various platforms including smartphones.
Making a difference
Public interest is always a priority for our profession, and that
informs what we do in our professional work as well as our
community service.
During the reporting period, the Institute completed
major submissions and reports regarding the government
budget; the Hong Kong stock exchanges’ consultations
on environmental, social and governance reporting, risk
management and internal control, and weighted voting
rights; and the Financial Services and the Treasury Bureau’s
consultations on money laundering, corporate insolvency and
tax information exchange, among others.
Our annual Best Corporate Governance Disclosure
Awards continue to recognize Hong Kong’s best examples
of governance, demonstrating what good governance
can achieve. We sent our latest corporate governance
publication
A Guide on Better Corporate Governance
Disclosure
together with the BCGD judges report to all
listed companies, to raise awareness of the benefits of good
corporate governance.
Meanwhile, our members are generous with their time,
contributing their skills in corporate governance and financial
management to charity and community organizations as
part of the CPAs for NGOs programme. Supporting small-
and medium-sized social service organizations receiving the
government lump sum grants, the Institute held a seminar
with more than 100 agency heads and executives to share
tips on setting policies and procedures for improving their
governance, accountability, financial management and human
resources management.
All in all, this has been a year of excellent progress.
We would like to thank the many members, the two vice
presidents, the Council and the committee members
for volunteering their time and expertise, as well as the
staff of the Institute for their dedicated and professional
contribution. Their efforts have helped the Institute achieve
its many objectives under the Sixth Long Range Plan to bring
the profession to a new level. There is still more to be done,
but, with all your support and by collaborating with and
outreaching to our stakeholders, we are confident more will
be achieved.
Sincere regards,