Issue no. 118
(27 July 2006)
 

Dear Members / Member Practices,

 
Welcome to new headquarters
oin us this Friday (28 July) at 6 p.m. for remarks from the President and Chief Executive & Registrar followed by cocktails to mark the official opening of the Institute's new headquarters at Wu Chung House. Come to the 27th floor to enjoy the food, drinks and a tour of the 50,000 square feet of space, including the members' lounge, auditorium, training centre and other facilities. The headquarters will be open Saturday and Sunday from 9 a.m. to 5 p.m. For Friday night's cocktails, please RSVP: 2287 7218 (Cherie Cheung).

Your Institute's report - IFAC SMO
he Institute is among the first 11 of 159 IFAC member organisations to have its responses accepted to the "Statement of Membership Obligations" compliance survey. The comprehensive document details the Institute's work in setting professional standards, quality assurance, education, disciplinary and investigation matters. Click here for the report.

Annual meeting with CIR
he minutes of the 2006 annual meeting between the Institute and the Commissioner of Inland Revenue are now available for members' perusal. Held each year, the annual meeting aims to improve tax compliance and clarify interpretation issues. The scope of the discussion this year included issues of profits tax, provisional tax, salaries tax and cross border tax. Click here for details.

Disney IT magic
ong Kong Disneyland has kindly offered our IT savvy members to check out the technology behind the Disney magic on 26 August (Saturday). Click here for details.
IASB: No new standards until 2009
To assist adoption of IFRSs and reinforce consultation, the International Accounting Standards Board has decided that no new IFRSs will be effective before 2009. It also agreed to increase lead time to at least one year for countries and jurisdictions to prepare for new standards. Click here for the IASB press release.
Tax attraction
The annual taxation conference on 15 July attracted more than 1,100 participants. Conference chairperson Dr. Stella Cho and Big Four speakers analysed the changes in tax law, tax practices and board of review and court cases. Watch for the programme's e-learning delivery in late August.
Bankruptcy ruling welcomed
The Institute welcomes the recent ruling of the Court of Final Appeal to remove travel sanctions on people who have declared bankruptcy, since it clears up the uncertainty in the law. Click here for the press release.
New CPD is here
Extensive CPD programmes have been lined up for August and September. Act now to brush up your technical, leadership, management and language skills.

Click here for the new e-learning programme on HKAS 32 and 39 to learn at your own pace, any where you are.
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