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charged with a critical role to maintain Hong Kong’s status as an
international financial centre.
Today’s accountants need highly tuned skills and, to support
this, we are conducting a review of the QP qualifying process and
revamping the programme’s content and structure to ensure that
the accountants we train have the skill-set to meet the demands
of employers and the global market.
The Institute believes that an accountant’s learning is lifelong,
and we are committed to providing the best education to hone their
skills, broaden their expertise and develop their specializations.
We are working on a financial controllership programme to
support members who wish to become professional accountants
in business. We will also continue to strengthen our specialist
qualifications in insolvency and specialist training in taxation.
Global influence
The Institute, as the standard setting body, strives to enhance
public trust and confidence in the profession by fully converging
with international accounting, auditing and ethics standards
since 2005. We help our members adhere to high-quality
standards and oversee their professional conduct.
The commitment to use international standards and
benchmarks underscores the Institute’s role in assuring the
quality of service provided by professional accountants.
We represent Hong Kong’s interests in many regional and
global organizations, such as the International Federation of
Accountants and the Global Accounting Alliance. We play an
influential role at the Asian-Oceanian Standard-Setters Group,
taking up the chairmanship for two years from November 2013.
As chair, the Institute represents the group on the IASB
Accounting Standards Advisory Forum, further deepening our
dialogue with the International Accounting Standards Board.
We also addressed important issues such as reporting of non-
compliance with laws and regulations to the International Ethics
Standards Board for Accountants.
In the Mainland, the Institute maintains dialogue with its
counterparts in accordance with the joint declarations to ensure
ongoing convergence of Chinese and Hong Kong standards.
This work is of great importance as it emphasizes the special role
the Institute can play in facilitating the Mainland’s continuing
engagement with the international accounting community.
FosteringMainland ties
Our presence in China and international forums enhances Hong
Kong’s unique role in serving and globally connecting the Greater
China market. The Institute has established a special advisory
group to develop consistent and effective promotion of the Hong
Kong CPA brand across the boundary.
Our interactivity with the Mainland includes networking
events; meetings with national, provincial and municipal
government and professional organizations; business trips and
visits; trade and industry fairs; and seminars throughout the year
to help our members – whether professional accountants in
business or small- and medium-sized practitioners – to establish,
grow and enhance their business.
The signing of the Mainland and Hong Kong Closer
Economic Partnership Arrangement in 2003 and subsequent
supplements have not only resulted in examination paper
exemptions for QP graduates seeking Chinese Institute of CPAs
admission, but have also opened up talks with the Mainland
on mutual recognition and market access for Hong Kong
accountants in China.
The Institute was able to obtain clarification of a Ministry of
Finance exposure draft that had caused concern over possible
“
We represent HongKong’s interests
inmany regional and global organizations,
such as the International Federation of
Accountants and the Global
AccountingAlliance.
”
Message from the leadership
