PROFESSIONAL PRONOUNCEMENT |
Developments in Financial Reporting Standards
This week the Hong Kong Institute of CPAs will announce progress on financial reporting: firstly, "Small GAAP", a framework proposed for Hong Kong companies that prepare financial statements in accordance with section 141D of the Companies Ordinance, will be ready by mid-2005, and, secondly, with the approval and publication of HKAS 17 Leases and HKAS 40 Investment Property, the fully converged suite of Hong Kong Financial Reporting Standards (HKFRS) will become effective for financial reporting periods that begin on or after 1 January 2005.
Click here for details ...
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This SUNDAY (12 December) 1-6 pm at Chater Road, Central
Make sure you mark your diary for an important family outing this Sunday for an afternoon of creative play and infinite fun while you are also supporting a worthwhile charitable cause!
On coming Sunday (12 December 2004) from 1-6 p.m., the Chater Road Pedestrian Precinct will be turned into a colourful and exhilarating playground for cross-generation play activities when the Hong Kong Institute of CPAs and Playright Children's Play Association ( Playright ) co-organise the PlayStreet ∞ 2004.
PlayStreet ∞ 2004 is a large scale charitable event open to members and affiliates of the Institute and Playright as well as the public. With the theme "Transmitted Play Ideas Across Generations", the event aims to promote the value and importance of play across generations to foster family relations and enrich the family lives of Hong Kong people.
Proceeds raised at the event will go to Playright to support its play development programmes and the Hong Kong Institute of CPAs Charitable Fund for the needy of our community. It promises to be a jovial fiesta for the enjoyment of the whole family. Click here for details ...
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CONTINUING PROFESSIONAL DEVELOPMENT (CPD) PROGRAMMES |
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Declaration for Compliance with the CPD Requirements
Members are requested to file a Declaration for Compliance with the CPD Requirements for the period covering 1 December 2003 to 30 November 2004 on or before 15 December 2004. Please note that under the provisions of the new sections 28(2)(c) and 30(8) of the Professional Accountants Ordinance, compliance with the CPD requirements has been made one of the conditions for membership renewal. Failure to comply with the CPD requirements would result in your membership/ PC registration not being renewed.
For details of the CPD requirements, please refer to Statement 1.500 at HKICPA's website at http://www.hkicpa.org.hk/membership/cpd/mandatory/1_500.php or the FAQs on the CPD requirements at http://www.hkicpa.org.hk/faq/member/cpd/cpd.php.
Members who require clarification regarding their CPD requirements or who have difficulties in complying with the CPD requirements, please call the Education and Training Department at 2287 7054 or 2287 7098 for advice.
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The Institute will be offering the following conference and seminars in December 2004:
Conference
 Dec 18 Professional Risk Management Conference 2004
(3.5 CPD Hours)
Seminars
Dec 13 中國流轉稅稅制 (2 CPD Hours)
Dec 14 Update of Transfer Pricing (2 CPD Hours)
Dec 15 SFC Investigations (2 CPD Hours)
To register, please click here or enroll online at http://www.hkicpa.org.hk/ea/content.php.
For the January 2005 CPD programmes, please view here . |
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NEW CD-ROM OF MEMBERS' HANDBOOK
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Enhanced Desktop (CD-ROM) Version of the HKICPA Members' e-Handbook
A CD-ROM containing an enhanced version of the HKICPA Members' e-Handbook has been issued to all members under cover of a letter dated 3 December 2004 for off-line use with the following enhanced features:
- Auto-started installation wizards that provide user-friendly guidance during the installation process.
- User-definable installation path.
- Automatic detection of screen resolution, i.e. 800x600 or 1024x768.
- Suppressible "index" column.
- Retractable and resizable screen.
- Better 'cursor-on' user interface on the 'Index' column.
- No more pop-up Windows during the Smart Update process.
- Shortened downloading time due to built-in intelligence in the Smart Update programs.
Any comments and feedback on the enhanced e-Handbook are most welcome, which should be sent to Raymond Hung, Assistant Director (Information Technology) at rhung@hkicpa.org.hk.
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PROFESSIONAL ASSOCIATIONS CUP 2004
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Come support your HKICPA Football Team
This is the first time for four local professional bodies: The Hong Kong Medical Association, HKICPA, Hong Kong Dental Association and Hong Kong Institute of Surveyors to jointly organise a football competition - "Professional Associations Cup 2004". Please come and cheer the Institute's Football Team up.
Date: Sunday, 12 December 2004
Time: 12:30 p.m. – 6 p.m.
Venue: HKU Stanley Ho Sports Stadium, Sandy Bay
Poster
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Technical Update Evening (TUE) – December 2004 and January 2005 sessions
The remaining December 2004 and January 2005 TUE sessions feature a number of important new auditing standards, including:
- Revised Standards on Fraud Consideration and Audit Planning for Auditors ( 14 December 2004 ) (re-run)
- New Audit Risk Standards Introduce Risk-Based Audit Approach ( 10 January 2005 ) (Re-run)
- 21 Replacement Hong Kong Auditing Standards ( 17 January 2005 ) (new).
To secure your seats, please register early by completing the registration form and returning it to the HKICPA.
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OUTSTANDING ACCOUNTANT AMBASSADORS AWARDS 2004 |
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The prize presentation of the Outstanding Accountant Ambassadors Awards 2004 took place at the Institute's 2004 Annual Dinner. Mr. Paul Tang, JP, Director of Social Welfare, attended the ceremony as the officiating guest to present trophies to the six winners.
The Awards aim to recognize the significant efforts and contributions of the Institute's Accountant Ambassadors in community and social services through the HKICPA Accountant Ambassadors Programme or external programmes and projects.
The six Outstanding Accountant Ambassadors Awardees 2004 are (in alphabetic order):
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Mr. Lau Sai Yung, Executive Chairman of Union Alpha CPA Ltd. |
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Mr. Lau Wai Fat, Paul, Assistant Manager of KPMG |
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Mr. Wan Kam To, Peter, Partner of PricewaterhouseCoopers |
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Dr. Wong Lung Tak, Patrick, JP, Managing Director of Wong Lam Leung & Kwok CPA Ltd. |
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Mr. Yang Chuen Liang, Charles, JP, Partner of S Y Yang & Company |
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Mr. Yu Chak Kwan, Financial Planning Manager of Asia Satellite Telecommunications Company Ltd. |
For detailed information on the Awards winners, please click here for the Awards' pamphlet.
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BENEFITS & DISCOUNT OFFERS |
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Caltex StarCard promotion |
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From now till 31 August 2005, HKICPA members who successfully applied for the Caltex StarCard can: |
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Enjoy up to HK$1.20 per litre gasoline discount. |
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Accumulate bonus points to redeem rewards under the Caltex "We Are Family" Bonus Points Rewards Programme. |
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Receive monthly statements to conveniently keep track of the fuel spending. |
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Holiday and travel packages: |
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Taipei X'mas Special 3 Days / 2 Nights just HK$1,999 up |
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Cathay Pacific 'Visit Beijing Now' Promotion HK$2,250 up |
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London Theatre Tickets (Chitty Chitty Bang Bang, |
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Chicago and Les Miserables etc.) |
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The Stylistics HAPPY X'MAS Show The Wolfman Jack Entertainment (HK) presents the everlasting Stylistics Happy X'mas Show in Hong Kong on Saturday, 11 December 2004, 8:00 p.m. Hall 3, HKCEC. HKICPA members enjoy 10% off ticket prices. Download order form. |
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