Issue no. 91
(09 December 2005)		 www.hkicpa.org.hk change login id / password
    Dear Members/Member Practices,
In this issue
QP in China
Code of Ethics
Practitioners Symposium
PlayStreet
A Plus
Handbook Updates
Study Mission
Comments on EDs
Reminder
Institute Debuts CPA QP in China
T
he Institute introduced this Wednesday its world-class CPA qualification programme
in China in collaboration with the Beijing National Accounting Institute. At the signing ceremony held in Beijing, the Institute's president Edward Chow says that this will help China meet the booming demand for professional accountants. The programme is now available for enrolment. Click here for more.
 

(Seating from left): Chen Yugui, Winnie Cheung, Edward Chow, Chen Xiaoyue and Yu Changchun [Click photo to enlarge]

 
New Code of Ethics for Professional Accountants
T
he Institute has issued a new Code of Ethics for Professional Accountants adopting the Code of
Ethics for Professional Accountants issued by IFAC and made the announcement yesterday at a press briefing hosted by Institute's president Edward Chow, vice president and chairman of the Ethics Committee Mark Fong, and executive director Stephen Chan (pictured). Click here to see the release.
Practitioners Symposium
A
ccounting practitioners from small and medium-sized practices have their own symposium today, where top
management of the Institute, the commissioner of the Inland Revenue Department, our LegCo representative and leaders of SMP committee will share their insights. Click here to see the discussion topics and watch for coverage in A Plus.
Thousands Join PlayStreet
W
ere you one of the thousands of playful people joining PlayStreet last Sunday? Through a
cardboard tunnel to wall building to happy bank to the Institute's new storybook, May Moon and the Secrets of the CPAs and 30 other creative games, PlayStreet 2005 demonstrated to Hong Kong families the power of play and created a playground for learning financial management. Thanks to our sponsors who contributed to PlayStreet's success. Click here to see the release and list of sponsors.
 
(Click photo to enter the gallery)
 
 
A Plus this Month - WTO
T
his month, A Plus kicks off the discussion of WTO prior to its official ministerial meeting next week in Hong Kong. It looks
at the deep-seated problems facing the WTO and how these have hindered hopes for liberalisation of services. Raymond Young from Trade and Industry Department and Eric Li, our representative at IFAC, share their expectations for the summit in this issue, which should reach you this week.
Handbook Updates

The new Members' Handbook update no. 22 includes the revisions on the following:

HKAS 1 Presentation of financial statements
HKAS 16 Property, plant and equipment
HKAS 27 Consolidated and separate financial statements
HKAS 40 Investment property
HKFRS 3 Business combinations
It also features a new Accounting Guideline 5 Merger accounting for common control combinations.
Study Mission to Qingyuan and Guangzhou
T
he Institute and the Trade Development Council are organising a study mission to Qingyuan and Guangzhou on 8-10 January for members to explore investment
opportunities there, and meet with financial, tax, trade and economic authorities and CPA counterparts. Members are eligible for applying for the TDC's SME Export Marketing Fund and will get a maximum of 50 percent refund. Click here for more.
Institute Comments on International EDs
T
he Institute has commented on three international exposure drafts. They are IAASB's EDs on ISA 701, "The independent auditor's report on other historical
financial information," ISA 800, "The independent auditor's report on summary audited financial statements," and IFAC ED of Proposed Revision to Section 290, "Independence - assurance engagements - definition of network firm." Click the respective links for more.
Reminder
The Institute has set up a China Desk at the Guangzhou Institute of CPAs to help members do business in the Mainland. Free advisory services include PRC accounting, tax, customs, investment opportunities, charges, trade and commerce related issues.
Subscribe to The Chinese Certified Public Accountant (中國註冊會計師) to keep yourself ahead of issues on PRC public accountancy practice, laws, regulations and rules. The deadline for 2006 subscription is 23 December.
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