HKICPA e-Circular

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Issue no.27
(15 December 2004)

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Dear Members / Member Practices,

In this issue
	A Successful Year at a Glance
	Declaration for Compliance with CPD Requirements and CPD Programmes
	Professional Risk Management Conference 2004
	Technical Update Evening (TUE)
	CICPA Journal
	Benefits & Discount Offers
	For Your Information

A SUCCESSFUL YEAR AT A GLANCE ...

Watch the Institute in action in this crisp four-minute visual presentation of what the Institute accomplished in 2004. Click here to watch.

CONTINUING PROFESSIONAL DEVELOPMENT (CPD)

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 section 28(2)(c) 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 being not 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.

Should any member who requires clarification regarding his/her CPD requirements or who have any difficulty in complying with the CPD requirements, please call the Education and Training Department at
2287 7054 or 2287 7098 for advice.

PROFESSIONAL RISK MANAGEMENT CONFERENCE 2004

Last Call for Professional Risk Management Conference 2004 – 18 December 2004

The 3.5-hour CPD Conference features many of the practical issues that accounting firms need to consider in managing their professional risk and potential problems that might arise during the claims process. Topics to be discussed:

	Access to audit working papers and related risk management issues
	Practice Review – the risk-based approach
	Professional Indemnity Insurance – claims procedures and management issues

To register, please click here or enrol online at http://www.hkicpa.org.hk/ea/content.php.

For the January 2005 CPD programmes, please view here.

TECHNICAL UPDATE EVENING

Technical Update Evening (TUE) – January 2005 sessions

The January 2005 TUE sessions feature a number of important new auditing standards, including:

	New Audit Risk Standards Introduce Risk-Based Audit Approach ( 10 January 2005 ) (Re-run)
	21 Replacement Hong Kong Auditing Standards ( 17 January 2005 ) (new).

The new and replacement Hong Kong Auditing Standards are adopted by the HKICPA under its International Standards Convergence Project to converge Hong Kong Auditing Standards with International Auditing Standards.

The new Audit Risk Standards enable auditors to more clearly focus on areas where there is a greater risk of misstatement of the financial statements. It is anticipated that implementation of the new Audit Risk Standards will increase the quality of audits by improving the linkage of audit procedures and assessed risks.

The replacement Hong Kong Auditing Standards adopt verbatim their latest equivalent International Auditing Standards that have been revised by the IAASB to reflect the conforming changes introduced by the new Audit Risk Standards, new Quality Control Standards and revised Fraud Consideration Standard.

To secure your seats, please register early by completing the registration form and returning it to the HKICPA.

CICPA

Subscription to the Chinese Certified Public Accountants' Journal (Reminder)

Subscription to the Chinese Certified Public Accountants' Journal (CCPC) (中國註冊會計師) for the period from January 2005 to December 2005 is now being invited. The CCPC (in Chinese only) is a monthly journal published by the Chinese Institute of Certified Public Accountants (中國註冊會計師協會) under the supervision of the PRC Ministry of Finance (中華人民共和國財政部). The journal is a collection of articles on current issues relating to public accountancy practice in the Mainland and on the latest development of PRC laws, regulations and rules which are relevant to CPAs. Please subscribe on or before
Wednesday, 29 December 2004.

BENEFITS & DISCOUNT OFFERS

HOT OFFERS:

Bloomsbury Christmas Offers & Events

"Hong Kong's Unsung Heroes" - The first historical soiree on Thursday 16 December 2004 5:00 p.m. - 8:00 p.m. Download Reply Slip/Order Form ...

"BookBookerBookest@Bloomsbury.com.hk" - An informal lecture by Father Alvaro Ribeiro on Man Booker Prize for Literary Fiction on Thursday 23 December 2004 6:00 p.m. - 8:00 p.m.
Download Reply Slip/Order Form ...

Exclusive offer to HKICPA members - "QGUIDES": The most handy guides to using installed software for busy professionals, available free for any net purchase of HK$400 or above before 24 December 2004.
Download Order Form ... &

Caltex StarCard promotion


	From now till 31 August 2005, HKICPA members who successfully applied for the Caltex StarCard can:

Enjoy up to HK$1.20 per litre gasoline discount.

Accumulate bonus points to redeem rewards under the Caltex "We Are Family" Bonus Points Rewards Programme.

Receive monthly statements to conveniently keep track of the fuel spending.

Holiday and travel packages:


	Mandarin Oriental Macau just HK$1,049 up for TWO
	Australia Winner Promotion (Perth - HK$4,390 up, Cairns/The Gold Coast, or Adelaide/Brisbane/Melbourne/Sydney - HK$5,890 up)
	"Take-A-Mate" Promotion, HK - Auckland - HK just HK$9,900 for TWO
	e2 fly (Beijing, Shanghai & Hangzhou HK$1,520 & Fuzhou HK$1,020)

Christmas Wine Packages 2004


	Christmas Party Pack - Three Red and One White
	Connoisseurs' Package - Bordeaux 2000 Four-Bottle Pack

more details ...

FOR YOUR INFORMATION

For Your Information

For Your Information is a channel to provide news or activities of other organisations which may be of interest to our members. In this issue, we have "Recruitment: Monitoring Accountant".

If you require any technical assistance on this transmission, please do not hesitate to contact any of the following staff:

	Telephone no.	E-mail address
Mr. Andrew Wong	2287 7245	andrew@hkicpa.org.hk
Mr. Tomas Chan	2287 7041	tomaschan@hkicpa.org.hk
Ms. Vian Tai	2287 7224	vian@hkicpa.org.hk
Mr. Kelvin Chiu	2287 7096	kelvin@hkicpa.org.hk

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