7
Another initiative is our cooperation with
Xinlicai
, a magazine
for finance professionals published in the Mainland under the
auspices of the Ministry of Finance. It reproduces the popular
Success Ingredient profile interviews of our members published in
A Plus
. With its wide distribution network among top executives
and government officials, we are able to explain the strength and
attributes of our CPAs and how they are able to contribute to the
economic progress of the Mainland.
Making a difference
Our devotion to integrity, ethics and public trust has led to our
pursuit of activities to benefit the wider community.
Members continue to bring the particular skills of the accounting
profession, in a non-partisan and independent way, to relevant areas
of public policy debate through active participation in consultations
conducted by the government, regulators and international bodies.
We have made submissions on important topics such as
bankruptcy, tax, trade, anti-money laundering and financial
reporting. Our commitment to furthering the public interest is
manifested in such endeavours as the annual Best Corporate
Governance Disclosure Awards and the publication of a new
guide to better corporate governance.
This year, we are introducing a corporate social responsibility
element to our annual report for the first time, to set out what the
Institute’s management has been doing to enhance workplace
quality, environmental protection, operating practices and
community involvement.
The Institute’s commitment to society runs long and deep
and we are still innovating. The “CPAs for NGOs” programme,
launched last year, is now up and running and will benefit many
smaller NGOs that lack the resources and skills needed to sustain
sound governance and financial management.
Our finances
The Institute has strengthened its financial position in order
to continue to provide members with a high level of service, to
sustain important programmes that we have developed, and to
provide funding to address future issues.
This reporting year, the group recorded a HK$21 million
surplus after tax, stemming from a natural membership increase,
the recovery of disciplinary costs, and reduced expenditure as
a result of streamlining our operations. The result is a leaner,
more efficient Institute that is better placed to provide stronger
member service.
Our net current assets cover about 10 months of operating
costs. The Institute will continue to implement prudent
stewardship of members’ funds to further enhance the QP
qualifying process, provide relevant and innovative thought
leadership, and fund programmes that extend the profession’s
international influence.
We are committed to maintaining our high standard of
financial management to meet the foreseeable needs of the future.
All in all, this has been an eventful year. We would like to
take this opportunity to thank the many members who have
volunteered their time, energy and expertise for the betterment
of the profession, and extend our sincere appreciation to the two
Vice Presidents, Council and committee members, and the staff
for their tireless efforts in contributing towards the achievement
of the Institute’s objectives on behalf of its members.
Sincere regards,
“
The Institute has strengthened its financial
position in order to continue to providemembers
with a high level of service, to sustain important
programmes that we have developed, and
to provide funding to address future issues.
”
Clement Chan
President
Ding Wai Chuen, Raphael
Chief Executive and Registrar
Message from the leadership
