Issue no. 100
(21 February 2006)

Dear Members/Member Practices,

 
E-circular hits 100
W
elcome to the 100th issue of the e-circular, which started in
September 2004. We have changed the layout, added more international items and we hope you will enjoy reading it. Your comments are always welcome. Please click here.
IASB chief praises Hong Kong's leading role
S ir David Tweedie, IASB chairman, praised Hong Kong

in meetings with regulators and the media on 13 Feb for being ahead of the rest of the world in the convergence of international accounting standards. Sir David reiterated the need for one set of standards as a way to cultivate economic growth.

 
Sir David Tweedie (centre) with Winnie Cheung and Paul Winkelmann meeting the media.
 
China converges with IFRS
C
hina has "substantially" converged with the International Financial
Reporting Standards, the Ministry of Finance announced last week. The convergence process in China has been underway for 15 years, and according to Sir David Tweedie, who attended a press conference with MOF officials in Beijing, China is committed to convergence. The Institute's president and chief executive were invited to witness the historic event and offer their congratulations.

Institute receives outstanding social service award
 
Institute's Paul Chan and Susanna Chiu receive the award from the HKSAR Chief Executive Donald Tsang.
 
T
he Institute received the "outstanding partnership" award
on 13 February from the Hong Kong Council of Social Service for its "Healthy Budgeting Family Counselling Programme" with the Tung Wah Group of Hospitals, which has helped more than 400 people with financial difficulties since 2002. The awards are the most prestigious for social services and business.
Spring into the new year
T
he Institute's spring cocktail reception on 16 February was
attended by FSTB secretary, Frederick Ma (pictured), Institute Council, committee members and more than 200 guests. The Institute's president, Paul Chan, highlighted plans for 2006. Click here to see his speech.

Institute to comment on Budget
The government will announce its 2006-07 budget on 22 February and the Institute will offer its commentary to media in the afternoon right after the announcement. A seminar will be held for members on 24 February.
Sustainability reporting guidelines
IFAC has issued a consultation paper exploring the assurance aspects of the Global Reporting Initiative's proposed new sustainability reporting guidelines, which deal with economic, environmental and social performance of organisations. The paper aims at CPAs familiar with GRI's guidelines, the IAASB's assurance framework and ISAE 3000. Click here for the paper.
Sporting CPAs wanted
Work-life balance is important. So come join the Institute's sports interest groups, where you can play basketball, football, golf, bridge and water sports like dragon boat racing with fellow CPAs. Click here for more.
Reminder
Free advisory services on Chinese accounting, taxation, customs, investment opportunities, charges, trade and commerce are available from the Institute's China desk in Guangzhou.
Subscribe to 2005 China Accounting Year Book (中國會計年鑒) by 28 February and you will get a thorough review of China's major accounting, finance, legal and regulatory issues in the past year.
For your information
The Office of the Commissioner of Insurance has re-organised its website to strengthen its structure and contents. Here's the new website: www.oci.gov.hk.
IFAC is looking for a senior technical manager to support its Transnational Auditors Committee.

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