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Issue no. 101
(9 March 2006)

Dear Members / Member Practices,

 
Prepare your firm for quality assurance


G
ood quality control is vital to your business. The Institute is
organising quality assurance workshops in early April to help you understand the practice risks addressed in the new Hong Kong Standard on Quality Control 1, and is introducing its new publication A guide to Quality Control. Click here to enrol for the workshops and order the guide.
Institute demonstrates thought leadership
N
early all local dailies, radio and TV stations have covered the
Institute's comments on the government budget recently. In particular, president Paul Chan attended a special hour-long TV programme with the Financial Secretary. The Institute's stance was that the budget recommendations were prudent, but too conservative.


 
Paul Chan at the budget
press conference
IFAC leadership meeting

T
he IFAC Chief Executives' meeting and IFAC Board meeting that

took place in late February in London explored big issues ahead for the accounting profession. The Institute's chief executive Winnie Cheung discussed the impact of technology and how it is driving globalisation while at the same time raising the expectations of users of financial information. Eric Li, Board member, led discussion on demands for standards and implementation guidance. Click here for the IFAC press release issued after the meetings.
Institute showcases at Expo
T
he Institute showcased the profession at the Education
and Careers Expo on February 23-26 at the HKCEC, unveiling the new name and brand identity of its subsidiary, Hong Kong Institute of Accredited Accounting Technicians. The Institute's booth, under the caption "Hong Kong Accountancy," introduced the CPA qualification programme, its subsidiary accounting technician programme, and
CPA Source.


Officiating guests visit the Institute's booth (click to enlarge)
Sporting CPAs Shine

Click photo to see more
T
he Institute's women's team clinched the championship
for the third consecutive year at the Hong Kong Open Indoor Rowing Championships on Feb 26. The women's and men's teams also won awards in relay. On the ground, the Institute's team broke the record at the Green Power Hike on Feb 25. Click here for more about the competitions and here to join the sports interest groups.
Serve the community with your skills
Come join the Accountant Ambassadors and share your skills with others. The Institute's Accountant Ambassadors programme has many opportunities for 2006, including teaching financial skills to young people. More than 800 CPAs have joined the programme. Click here to enrol.
E-conference on financial reporting standards
for SMEs
A new e-conference to discuss the practical issues of the Financial Reporting Framework and Standards for SMEs is now available for subscription. The online system will enable you to learn the new standards anywhere, anytime. Click here to preview.
TechWatch
The latest issue of TechWatch features the annual meeting with CIR, TUE and CPD activities. It announces the release of Handbook Updates 25 and 26, issuing a new standard on audit documentation, a new Interpretation and two amendments to accounting standards, invitations to comment on international pronouncements, and Q&As on Mainland audit issues of related party transactions.
For your information
The Center for Professional Education is organising a Sarbanes-Oxley 404 conference on April 24-26 in Shanghai to discuss the new internal control reporting requirements. Institute members will enjoy special discount.
Hong Kong Productivity Council is organising a free Anti-Spam Conference on March 10.
The next annual conference of International Organization of Securities Commissions (IOSCO) will be held in Hong Kong on June 5-8.
Hong Kong International Arbitration Centre is organsing an international conference on arbitration on March 27 in Hong Kong.

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