FAQ

Holders of the specialist designation in insolvency

 

About SD (Insolvency)
Q1.Can my contact details as a holder of SD (Insolvency) be different from my contact details as a CPA?
Q2.How can I update my contact details?
Q3.If I leave Hong Kong for a period of time, do I need to resign from the SD (Insolvency)?
Q4.Is there a reduced subscription rate for holders of SD (Insolvency) residing overseas?
Q5.How can I get a letter from the Institute certifying my status as an SD (Insolvency) holder?
Q6.If I resign as a holder of SD (Insolvency) effective from January 2016, do I need to pay the RIF annual membership fee for 2016 if I would like to continue to be an RIF member?

 

Annual renewal of SD (Insolvency)
Q1.Do I need to be working in the insolvency field at the time when I submit my renewal of SD (Insolvency)?
Q2.At the time of my first renewal of SD (Insolvency), do I need to have 200 qualifying hours in the field of insolvency, including 50 hours of higher experience?

 

General
Q1.How can I check if an individual is an SD (Insolvency) holder of the Institute?
Q2.I have lost contact with my friend who is an SD (Insolvency) holder of the Institute, please give me his contact telephone number.

 

 


 

About SD (Insolvency)
Q1.

Can my contact details as a holder of SD (Insolvency) be different from my contact details as a CPA?

Ans.No.  Contact details as a holder of SD (Insolvency) need to be the same as the contact details as a CPA.  Any changes in contact details for the person will be updated for both registers.
Q2.

How can I update my contact details?

Ans.With an aim to protect the accuracy of the personal data of its members, the Institute will not act upon email requests for change of correspondence address. While we understand that this practice may cause inconvenience to our members, we hope you will appreciate that since electronic mail is an unidentifiable means of communication as specified under the Personal Data (Privacy) Ordinance, and, as such, as the Institute is unable to ascertain the identity of the senders, acting upon email requests for change of personal data may give rise to inaccurate information being kept in the membership records of the Institute.
In this connection, please update your new employment details in the Members' area in this website. As an alternative, you may write to the Institute or complete and return a duly signed membership record amendment coupon by post to the Institute’s admission department or fax to (852) 2575-6852 for change of your correspondence address.
 
Q3.

If I leave Hong Kong for a period of time, do I need to resign from the SD (Insolvency)?

Ans.

No, you can advise the Institute of your new correspondence address and other contact details in the members' area of the Institute's website or by completing and returning a membership record amendment coupon.

 
Q4.

Is there a reduced subscription rate for holders of SD (Insolvency) residing overseas?

Ans.No. Only CPAs who have reached the age of 60 and possess the CPA designation for 20 years or longer will be granted a discount rate on their CPA subscription. There are no reductions in the annual fee for the SD (Insolvency).
 
Q5.

How can I get a letter from the Institute certifying my status as an SD (Insolvency) holder?

Ans.Please send a written request to the Institute providing the detail about where we should send the letter and to whom the letter should be addressed. 
There is no handling charge or postage for this service.
 

 Q6.

If I resign as a holder of SD (Insolvency) effective from July 2012, do I need to pay the RIF annual membership fee for 2012-13 if I would like to continue to be an RIF member? 

Ans.Yes. Upon resignation as a holder of SD (Insolvency), the benefit of RIF membership fee waiver will no longer exist. Therefore, you need to pay the RIF annual membership fee if you would like to continue as an RIF member.

 

Annual renewal of SD (Insolvency)

 

 Q1.

Do I need to be working in the insolvency field at the time when I submit my renewal of SD (Insolvency)?

 Ans.

No. You do not need to be working in the insolvency field at renewal of the SD (Insolvency) but you need to fulfil the requirements for continuing work experience in the field of insolvency in each four-year period after being awarded the SD (Insolvency). Please refer to the renewal requirements for details.

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Q2.

At the time of my first renewal of SD (Insolvency), do I need to have 200 qualifying hours in the field of insolvency, including 50 hours of higher experience?

Ans.

No. The renewal requirement on continuing work experience in the field of insolvency is 800 qualifying hours obtained in Hong Kong, including 200 hours of higher experience, in each four-year period after being awarded the SD (Insolvency).  The four-year period is not counted on a rolling basis. From 2015 onwards, the four-year period is counted on a mid-year basis, starting in the year that the person becomes a holder of SD (Insolvency). Below is an illustration for an SD (Insolvency) holder who obtained the SD in December 2011:

Dec 2011 – Jun 2015Jul 2015 – Jun 2019Jul 2019 – Jun 2023
1st 4-year period800 qualifying hours obtained in Hong Kong, including 200 hours of higher experience
2nd 4-year period800 qualifying hours obtained in Hong Kong, including 200 hours of higher experience
3rd 4-year period800 qualifying hours obtained in Hong Kong, including 200 hours of higher experience

 

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General

 Q1.

 How can I check if an individual is an SD (Insolvency) holder of the Institute?

 Ans.

An online SD (Insolvency) register is available on the Institute's website. For information, the full name of a member, as indicated in the Hong Kong identity card or passport of the member, is registered in our membership database and online register. You may therefore check the existing SD (Insolvency) status of an individual directly from our website.

In case written certification is required, under the Personal Data (Privacy) Ordinance in Hong Kong, the Institute cannot disclose personal details of members to third parties without their written consent. If a written certification is required, please send a signed written request along with a written consent from the individual concerned, (preferably with membership number) and a handling charge of HK$50 to us for our processing.

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 Q2.

 I have lost contact with my friend who is an SD (Insolvency) holder of the Institute, please give me his contact telephone number.

 Ans.Under the Personal Data (Privacy) Ordinance in Hong Kong, the Institute cannot disclose personal details of members to third parties without their consent. We may however be able to help by sending your contact details to the member concerned who can then contact you.
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