Issue no. 103
(27 March 2006)

Dear Members / Member Practices,

 
Lippo office sold
T
he Institute sold its 4th and 8th floor properties at Lippo Centre this

month. The proceeds at HK$127 million will be used to repay the bridging loan taken out to purchase the two Wu Chung floors. The Lippo property appreciated substantially since the Institute bought it in 1998/99 and this has enabled us to expand our facilities to members through the acquisition of significantly enlarged office space at Wu Chung House. The Member and Student Services Counter will remain in Lippo until the Institute completes its move to occupy the 27th floor of Wu Chung in June or July this year. We look forward to welcoming you to the members' lounge, new library and training facilities.


HKICPA and ICAEW high-level conference focuses on China
C
hina and global capital markets will be the topic for a conference in Hong

Kong on 11-12 May, with discussions about the challenges for the accountancy profession in business and investment markets. The conference is shaping up as an unprecedented gathering of policy makers, global investors, regulators, rating agencies and Chinese companies active in international capital markets. The event is co-hosted by the Hong Kong Institute of CPAs and the Institute of Chartered Accountants in England and Wales. Mark your diary and watch for enrolment details in coming e-circulars. Click here for the confirmed speakers.
Is it fair? Need for liability reform
T
he Institute has expressed its disappointment to the Administration
of the HKSAR about its decision to suspend further studies into professional liability reform proposals for the remainder of the Chief Executive's term of office. The Institute submitted a paper and will attend the meeting of the LegCo Panel on Administration of Justice and Legal Services on 27 March, to emphasize the urgency and importance of the reform. Click here to see the paper.

Tribute to Accountant Ambassadors

M
ore than 80 Accountant Ambassadors attended the
annual AA cocktail reception on 16 March to receive recognition for their service to community projects under the AA Programme. Paul Chan, president of the Institute, commended AAs for their good work, while Susanna Chiu, chairperson of the Community Services Committee, charted the plan for 2006.
IFRS bound volume is coming
The 2006 IFRS Bound Volume, just published by the International Accounting Standards Board, will soon be available for members' subscription at a discounted price of HK$750 (the regular price is £60). Watch for further details in coming e-circulars.
Free booklet from Deloitte
Thanks to the generosity of Deloitte, the Institute has 1,000 copies of Deloitte's booklet on implementing Hong Kong financial reporting standards to give free to members. The booklets can be obtained at the Member and Student Services Counter, 4th floor, Lippo Centre and is limited to one copy for each member while stock lasts.
Hong Kong's banking services in the Mainland
The Institute's Mainland Business Interest Group is organising a seminar to discuss banking and financial services offered on the Mainland by Hong Kong banks on 19 April. Raymond Yu, general manager of Bank of East Asia, will share practical issues in handling finances and foreign exchange. Click here for more.
PRC tax workshops

A new series of PRC taxation workshops will give you a comprehensive knowledge of PRC tax, laws and practices for investing and doing business in China. The programme, starting in mid-May on four consecutive Saturdays, will be taught by professors and lecturers from Hong Kong Polytechnic University. Click here for more.

LegCo Rep's newsletter

The latest issue of Mandy Tam's newsletter, "Hong Kong Sentiment", is out. Please click here if you would like to view it on line.
For your information

Institute members will enjoy 20 percent discount to study the latest revision to the Mainland company ordinance in a seminar organised by the Trade Development Council and Chinese University of Hong Kong on 30 March. Call 2584 4152 for more.

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