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restrictions on the provision of audit services by our members to
Mainland entities listed in Hong Kong.
At a meeting with the Institute, the ministry reaffirmed its
commitment to the continuous opening up of the Mainland
market to Hong Kong under CEPA and made it clear that the
exposure draft’s primary objective was to strengthen regulation
over illegal cross-border audit activities in the Mainland.
Another important subject that we expect to resolve through
dialogue with the ministry is the matter of access to audit working
papers in the Mainland. We would like to thank the Supervision
and Inspection Bureau of the Ministry of Finance for inspection
work that has been done on our behalf.
Helpingmembers succeed
The Institute’s ideas, products and services must serve the
needs of our members and support the development of their
professional careers.
Despite the rapidly changing regulatory environment,
members are able to stay up to date through our supporting
initiatives, including seminars, technical guidance notes and
website resources. Information about major developments that
have substantial impact on the accounting profession, such as
Hong Kong’s new Companies Ordinance, is communicated and
explained in a timely, effective way.
As a membership organization, the Institute fully engages with
members to create a strong sense of professional pride, loyalty and
inclusiveness in many ways. In addition to professional and
technical support, the Institute facilitates various leisure groups
formed under the Sports and Recreation Club. Enthusiasm, good
health and a strong sense of work-life balance help create well-
rounded professionals. Total membership of the club’s interest
groups is now over 4,000.
Engaging stakeholders
The importance and relevance of the Institute’s statutory roles,
mission, values and brandmust be effectively communicated to
members, partners, other professional organizations, governmental
and regulatory bodies, the broader business community and the
public in general.
The past year has seen a number of issues related to the
accounting profession attracting mainstream attention, such as
audit regulation reform, the Ministry of Finance exposure draft
and the new Companies Ordinance.
Such news events are opportunities for the Institute to explain
the position of the profession in the wider context of its role in
protecting the public interest and contributing to Hong Kong’s
status as an important international financial centre.
We also offer expertise and insight to the media in addressing
crucial and complicated financial and business topics. The
Institute’s leadership, Council and expert committee members
were sought for comment on major issues such as the Hong Kong
budget.
Through engagement with the media at home and abroad, the
Institute demonstrates its members’ diversity of skills, competence
and values, ethics and integrity, international status and influence,
and special relationship with the Mainland.
The award-winning monthly magazine
A Plus
is the Institute’s
flagship publication, which examines accounting, finance and
business in Hong Kong, China and the world, through the eyes
of the Institute and its members. It encompasses news and
features, as well as lighter reading reflecting the interests and
enthusiasms of our members, whether they are in public practice,
business or government, newly graduated or considering
retirement.
“
Through engagement with themedia at home
and abroad, the Institute demonstrates itsmembers’
diversity of skills, competence and values, ethics and
integrity, international status and influence, and
special relationshipwith theMainland.
”
Message from the leadership
