Member annual fee
Mandatory Continuing Professional Development (CPD) requirements
Online Annual Renewal section
Practising Certificate ("PC")
Member annual fee
|Q1.||When are my member annual fees due?|
|Ans.||Member annual fees are due on 15 December in the year preceding the year of renewal in accordance with the Professional Accountants Ordinance ("PAO"). Renewal notice will be emailed to all members in mid-November, except for members who have paid the $180 hardcopy surcharge as they will receive hardcopy renewal notice by post. Renewal notice along with payment advice are downloadable in "My Correspondence" under "MyCPA" in the Members' area of the website.|
|Q2.||Who is entitled to a reduced annual fee?|
|Ans.||With effect from 2012, reduced annual fees are available to long term members when they have reached the following age on 1 January of the year respectively. No application is required in this respect:|
|For the year 2018|
|Reduced membership rate||Apportionment to Capital Fund|
|60 to 64 years of age with 20 years or more membership||HKD 1,613||HKD 75|
|65 to 69 years of age with 20 years or more membership||HKD 513 *||---|
|70 or above with 20 years or more membership||Waived||---|
|* Also applicable to members who were registered as a "Retired Member" before 1 January 2007 and are (i) aged below 70; or (ii) aged 70 or above with less than 20 years of membership as of 1 January of the year.|
|Q3.||What payment methods are accepted?|
|Ans.||Annual fee(s) can be paid via the following methods:|
Please obtain a direct debit authorization ("DDA") form from the Institute's Finance Department and submit your completed DDA form to your designated bank. It takes about 1 month to process your request by the bank. For members who have already set up the autopay instruction before 1 November, the annual fee(s) will be debited from the designated bank account on the payment due date specified in the payment advice.
(i) Pay online by VISA/ MasterCard - log in to the Annual Renewal section in our website and act as instructed, or
(ii) Complete and return the credit card authorization form (pay by BOC HKICPA VISA card, BOC HKICPA UnionPay Card or other VISA/MasterCard) provided in your payment advice by fax or by post to the Institute, or
(iii) Pay in person at the Institute's member services counter.
Crossed cheque or bankdraft
|Please send your payment advice together with a crossed cheque/ bank draft in Hong Kong Dollars ("HKD") made payable to "Hong Kong Institute of Certified Public Accountants" or "HKICPA". Please ensure that your registration number and full name are written at the back of the crossed cheque or bank draft. Do not send post-dated cheque. Members should bear any bank charge arising from payment outside Hong Kong and this charge should be added to the total payment.|
|Pay online by PPS - log in to the Annual Renewal section in our website and act as instructed.|
Pay in person at the Institute's member services counter at 27th floor, Wu Chung House, 213 Queen's Road East, Wan Chai, Hong Kong.
|Q4.||I have relocated to overseas/ am currently out of the work force. Can my member annual fee be reduced?|
|Ans.||Under the current policy, (other than those long term members as mentioned in the answer to Q2 above) all members, irrespective of their location of residence and employment status, are required to pay full member annual fee to renew their membership registration.|
|Q5.||I will move to overseas shortly. Can I pay my member annual fee before receiving the annual renewal notice for next year?|
|Ans.||Member annual fee rate for next year will only available after the October Council meeting. As you can pay online at any location/time or set up autopay arrangement with your designated banker before you leave, you are advised to wait and pay after you receive the payment advice from the Institute in November.|
|Q6.||How can I check my payment status?|
You may log in to the Annual Renewal section in our website and check the payment status:
I have paid twice for my member annual fee. How can I get a refund?
Please send documentary evidence for these two payment transactions to the Institute for processing.
I have difficulty paying my member annual fee. Can the Institute help?
The Institute has established a trust fund for the relief of poverty by providing assistance to members experiencing severe financial hardship in the form of payment of the Institute's member annual fees, a grant or a loan. Please download relevant application form from our website for completion and return to the Institute, with documentary evidence, as required, on or before 15 December, i.e. 15 days before the expiry of your membership registration on 31 December of the year.
Members are reminded that late submission will not be considered. In rare circumstances will late applications be accepted and only when accompanied by a letter that details compelling reasons for the delay together with supporting documents where relevant.
Mandatory Continuing Professional Development (CPD) requirements
|Q9.||What are the CPD requirements for annual renewal purpose?|
|Ans.||All members, except those exempt from complying with the Institute's CPD requirements, are required to complete a minimum of 120 CPD hours in a rolling three-year period, out of which 60 hours should be verifiable. A minimum of 20 CPD hours, verifiable or otherwise, has to be completed each year. Please refer to the CPD & Specialization section for further details.|
|Q10.||What should I do to report my compliance of CPD requirements?|
All members, except those exempt from complying with the Institute's CPD requirements, are required to submit a CPD declaration through filing of the Annual Return for membership renewal ("Annual Return") at the time of applying for their membership renewal.
The CPD records you keep in "MyCPA >> Development >> CPD activity summary" on the Institute's web site DO NOT EQUATE to an online CPD declaration. You still have to submit a CPD declaration either by the online Annual Return or by sending this Annual Return to the Institute in hardcopy.
|Q11.||I am very busy and need more time to satisfy the CPD requirements. What can I do?|
|Ans.||Please provide details of the CPD activities you have taken during the reporting period, i.e. the past three years up to 30 November of the current year, to Admission Department on or before 15 December, i.e. the renewal deadline. We will advise you the remedial action required.|
|Q12.||Who can apply for exemption from the CPD requirements? What are the application procedures?|
|Ans.||CPD exemption will only be granted to a member who, at the time of application, is not carrying out any accountancy or accountancy related work, whether paid or unpaid, and does not plan to do so for a significant period of time.|
Generally, no exemption will be granted to members holding Practising Certificates or Specialist Designations or directors of any companies. Please refer to Appendix of Statement 1.500 (Revised July 2014), Guidance on Exemptions, for more details about exemption, including information about what is accountancy or accountancy related work.
Members may submit an application for exemption from CPD compliance in writing and support it with documentary evidence at any time during the year but are requested to submit it by 15 December of the year to allow time for processing for annual renewal purpose.
|Q13.||I have been exempted from the CPD requirement since last year. What should I do with this year's Annual Return (CPD declaration)?|
If you have been granted a CPD exemption and continue to meet the current exemption criteria, you do not need to re-apply if your circumstances remain unchanged. Please skip the CPD declaration section, and complete and return the remaining section(s) in your annual return to the Institute for processing.
If the circumstances under which you were granted CPD exemption have changed such that you no longer meet the current exemption criteria, you should notify the Institute's Admission Department in writing and resume CPD compliance.
|Q14.||What is the consequence for not complying with the CPD requirements?|
With the enactment of the Professional Accountants (Amendment) Ordinance in September 2004, compliance with CPD is one of the criteria for renewal of registration as a CPA under section 28(2)(c) and issuance of a Practising Certificate under section 30(8) of the PAO. In the absence of exemption, the Council shall refuse a member's application to renew his/her registration as a CPA if the member fails to comply with the CPD requirements as set down by the Council.
For more details on the CPD requirements, please click here.
Online Annual Renewal section
|Q15.||How can I renew online?|
|Ans.||You can easily pay your annual fee(s) and submit your annual return by logging in to the Annual Renewal section in our website.|
|Q16.||I tried to renew online but accidentally was logged out from the system. How can I know that the renewal transaction has been completed?|
|Ans.||Please call our renewal hotline (852) 2893-7600 during office hours or email firstname.lastname@example.org for assistance.|
|Q17.||I have forgotten my password. How do I get a new one?|
|Ans.||Please follow the instructions on the Member Login Screen in our website. If you have any enquiry on this, please contact the Institute's IT support team during office hours on: (852) 2287-7800 or by sending an email to: email@example.com.|
|Q18.||How to avoid HKICPA emails being delivered to junk mails?|
|Ans.||Please follow the instructions on the IT Support page in our website. If you have any enquiry on this, please contact the Institute's IT support team during office hours on: (852) 2287-7800 or by sending an email to: firstname.lastname@example.org.|
|Q19.||I was newly admitted in April this year. When and how will I be notified to renew my membership registration?|
Under the PAO, irrespective of the date of your first registration as a member with the Institute, your membership will expire on 31 December. Renewal notice will be emailed to you and all members in mid-November, except for members who have paid the $180 hardcopy surcharge as they will receive hardcopy renewal notice by post.
Reminders and final notice will be sent to those who have not completed the annual renewal procedures before the expiry of member/ PC registration on 31 December.
If you are a PC holder and have failed to renew your membership and/or PC by 31 December, no statutory audit reports shall be issued under your name or in the name of a CPA practice as from 1 January of the following year until you have been issued with a PC.
|Q20.||Why are members required to make declaration on convictions in the annual return? Is it a mandatory requirement for membership renewal? What would be the consequence?|
Unlike CPD requirements, declaration on convictions is not a mandatory requirement for membership renewal. As members have the obligation to report any conviction of criminal offence or professional misconduct to the Institute, this declaration is added to the annual return form to facilitate members in reporting their convictions, if any.
If the member has had conviction(s) in the past year and he opted for "Yes" and provided details on his own volition, a copy of the annual return and the details will be passed to the Institute's Compliance Department for assessment and consideration of whether a complaint should be raised by the Registrar against the member in accordance with the PAO and the Institute's complaint handling procedures.
If a member does not complete this section, it will not affect his annual renewal, i.e. there will not be any consequence. However, false declaration may be referred to the relevant committee(s) or Council for disciplinary action as the Institute sees fit under section 34 of the PAO.
|Q21.||I had been convicted of minor traffic offence in last year. Do I need to state it in the Declaration on convictions in Hong Kong or elsewhere in the annual return?|
|Ans.||You should report the minor traffic offence if you have been convicted. Normally, the Institute will not take any action against members convicted of minor traffic offences.|
|Q22.||How can I get a receipt for the annual fee(s) paid?|
Payment receipt will be sent to you via email once payment has been received by HKICPA. In addition, you may log in and download the payment receipt in the Annual Renewal section and/or "MyCPA >> Payment" in the Members' area of the Institute's website.
|Q23.||How can I get an acknowledgement for my annual return?|
|Ans.||In general, no acknowledgement for your annual return will be issued. Please check your renewal status in the Annual Renewal section. You may also email email@example.com for clarification.|
|Q24.||What will happen if I do not renew my membership before the specified deadline?|
If you fail to complete the renewal procedures before the renewal deadline on 15 December, a final notice will be sent by email and post to you by the end of December. A final deadline will be given for you to renew your membership registration.
Upon approval by the Institute's council, the date of approval of this application will be recorded as the new registration date. New membership certificate/ card will be issued in due course.
|Q25.||I have paid my member annual fee, but subsequently been removed by the Institute for non-compliance of the CPD requirement. Can I get a refund of the annual fee paid?|
If you have paid the member annual fee but your name was removed due to your failure in filing the CPD Declaration via the Annual Return for membership renewal, the annual fee paid will be refunded to you by May of the relevant year.
Please note that refund will be made according to your payment method. For bank autopay, PPS and payments through our member services counter, refund will be made by cheque and mailed to your last known correspondence address.
|Q26.||I do not want to renew my membership and/or practising certificate after it expires on 31 December of this year. What should I do?|
|Ans.||Please send your duly signed written notice along with your certificate(s) and membership card, if applicable, to the Institute’s Admission Department for processing.|
|Q27.||I moved to a new residence in November and did not receive the renewal notices. I have been removed from membership. Can I apply for restoration without paying the administration charge?|
|Ans.||Members are reminded every now and then to keep their contact details up-to-date. Furthermore, as the Institute sends renewal notices/reminders by email and by post, and sufficient time has been provided for members to renew online/offline, failure to receive renewal notices caused by change of contact details or not knowing the renewal date cannot be accepted as grounds for applying for waiver from paying the administration charge required for restoration applications.|
Practising Certificate ("PC")
|Q28.||May I renew my PC without paying the member annual fee?|
Under the PAO, only members of the Institute are eligible to apply for a PC from the Institute. As such, you must pay both member and PC annual fees, and file the CPD and PC declarations via the member and practising certificate annual return before you can complete the PC renewal procedures
|Q29.||I am the sole proprietor of a firm/corporate practice and will not practise in my own name. Can I cancel my PC?|
No. You must be a PC holder, i.e. continue to renew your PC, before you are eligible to register as a sole proprietor or a practising partner/director of a CPA practice.
|Q30.||I have not signed any audit report in this year. Am I eligible to renew my PC for next calendar year?|
|Ans.||Under the current policy, there is no requirement on the number of audit reports that have to be signed by a PC holder annually. You may continue to renew your PC for next calendar year provided that you have satisfied all the prevailing PC renewal requirements.|
|Q31.||Would becoming bankrupt affect my membership/practising status?|
|Ans.||Bankruptcy will not affect your membership registration. However, under section 30(7) of the PAO, a PC shall not be issued to, and the Council may cancel the PC of, a CPA who is or has become bankrupt or has entered into a voluntary arrangement with his creditors within the meaning of the Bankruptcy Ordinance (Cap 6).|
|Q32.||I have paid and filed annual return. When will I receive my PC certificate for next calendar year?|
|Ans.||If you have paid and filed your annual return before the 15 December renewal deadline, a notice for collection of your certificate will be sent to you in the last week of December. Similar collection notice will be issued on weekly basis to those PC holders who have completed the renewal procedures at a later date.|
|Q33.||I will not renew my PC after it expires on 31 December. What should I do to renew my membership registration?|
You may indicate in the "Annual Return for Membership and Practising Certificate Renewal" that you will not renew your PC, and complete and submit to the Institute other parts of the Annual Return together with payment of your member annual fee.
As an alternative, you may send a duly signed written notice to the Institute. We will issue a confirmation for cancellation of your PC along with a revised payment advice and Annual Return for Membership Renewal for your use.
Last update on 31 Oct 2017