The Professional Accountants Ordinance provides that the registration of a certified public accountant shall expire on 31 December each year and must be renewed.
Under section 28 of the ordinance, an application for renewal shall be made to the Registrar of the Institute not later than 15 December in the year preceding in such form as the council may specify.
With effect from 2012, reduced membership fees are available to long term members when they have reached the following age on 1 January of the year respectively:
|Reduced membership rate||Category||Apportionment to Capital Fund|
|HKD 1,613||60 to 64 years of age with 20 years or more membership||HKD 75|
|HKD 513*||65 to 69 years of age with 20 years or more membership||---|
|Waived||70 or above with 20 years or more membership||---|
* 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.
In addition to the payment of the specified renewal fee, all members are required to submit their Annual Return to substantiate that they have complied with the mandatory continuing professional development requirement.