Issue no. 125
(22 September 2006)		  

Dear Members / Member Practices,

 
Global passport
embers can enjoy a host of benefits when they travel for work to another jurisdiction covered by the Global Accounting Alliance, of which the Institute is a founding member. Apply for the GAA Passport for member services before you travel to access to many of these services at discount rates or even free of charge.
New chair of IFAC PAIB
ast president Edward Chow has been appointed as chairman of the IFAC Professional Accountants in Business Committee effective from January next year, giving the Institute additional heft in the international arena. The committee serves more than one million professional accountants in business.
Hip hop video a hit
he hip hop video celebrating the CPA Day is a hit not only in Hong Kong but overseas. Many members thought it was great fun. Local media including SCMP, Ming Pao, Oriental Daily, Sing Tao and The Sun all praised the video.
New library opens
he new library facilities are open early at the 27th floor of Wu Chung House. Originally scheduled to open in early October, the new and spacious library, containing more than $1 million worth of books, periodicals and online facilities, opened on 18 September. The library at Fortis Bank Tower closed on 16 September. Enquiries: 2287-7018.
CPD declaration coming
ou'll soon need to declare your CPD status when you renew your membership or practising certificate in November according to the requirements in Statement 1.500. Check out the CPD events for 2006 if you need to make up the hours.
Mainland activities
How mainland labour law will affect foreign investment is the theme of the Institute's seminar organized with the Trade Development Council on 10 October
The workshop series on mainland accounting, auditing, taxation, capital market and corporate governance will start on 28 October.
Your views on GST
The Institute received many comments on GST during the two forums held on 4 and 8 September attended by over 400 members. The Institute is putting together a dedicated website to provide information and receive feedback from members. This site is planned to open at the end of this month. The Institute will be issuing a letter with more details early next week.
Double taxation
Join the Institute's Taxation Interest Group forum on 28 September to learn more about the new double taxation arrangement between Hong Kong and the mainland.
PRC GAAP vs. IFRS
The Institute has published a new monograph with Deloitte Touche Tohmatsu to compare mainland accounting standards with IFRS. It's available from the Member and Student Service Counter on 27th floor of Wu Chung House free of charge for the first 300 copies on a first-come-first-served basis. After that, it will be charged at $40 each to cover costs.
UN converges
The United Nations is adopting the International Public Sector Accounting Standards to enhance its accountability, transparency and integrity. As a result, the UN will move from a system of modified accrual to full accrual. Click here for the IFAC press release.
Free entry to expo
Members get free admission to the Financial World Expo on October 6-8. Present your membership card at the Member and Student Service Counter to collect a maximum of four tickets on a first-come-first-served basis. Remember to visit the Institute booth (C15) at the Expo.
For your information
Another GST seminar is planned by the American Chamber of Commerce on 27 September.
Reporting for the U.S. Securities and Exchange Commission is the theme of the Centre for Professional Education's seminar in Shanghai on November 20-21. Institute members get US$200 discount.
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