Issue no. 156 (23 May 2007)
Dear Members / Member Practices,
 
  CO rewrite forum
enior government and Institute representatives talked to more than 170 members at the 21 May forum organized by the Institute about the proposed changes to accounting and auditing provisions in the Companies Ordinance. Please send your view on the consultation to the Institute by 30 May.  
John Leung, FSTB deputy secretary
 
  IFRS 1 amendments
  he Institute supports allowing a parent company to use a deemed cost to measure its investment in subsidiaries when it first adopts IFRSs but is concerned whether these amendments will reduce the burden on preparers.
 
  Comments on fair value
ASB's efforts to establish a clear definition of fair value and develop a single set of guidance for all fair value measurements required by IFRSs are good, says the Institute, and suggests another consultation on the question of when to adopt fair value.  
 
  ISAs amendments
omments are invited about auditing standards amendments:
ISA 250 on auditor's responsibilities relating to laws and regulations in financial statements audit.
ISA 200 on overall objective of the independent auditor and the conduct of an audit in accordance with ISAs.
ISA 500 on considering the relevance and reliability of audit evidence.
 
  IFAC reaches 30 years
  FAC is celebrating its 30th anniversary this year and has designated 2-8 December as the World Accountancy Week to recognize the contributions of 2.5 million accountants worldwide. Watch for details in coming e-circulars.
 
  Hot jobs
ew jobs available at Gerson Lehrman, HSBC, City Telecom, Housing Authority and Hong Kong Interbank Clearing. Go to CPA Source for more.  
 
Joint Institute and ICAEW seminar

The chief executive of the U.K. Financial Reporting Council is coming to Hong Kong on 22 June to talk to members on the regulatory role of the U.K. FRC.
PRC transfer pricing

Come join the seminar on mainland transfer pricing to learn more about the government's new policies and preferential tax concessions.
Free newspaper

Members get a one-month (June) free trial subscription for The Wall Street Journal Asia.
Library survey

Help us enrich library collections. Complete this survey by 5 June and recommend books on-line in your login page.

KPMG virtual library

Thanks to KPMG and its virtual library, members can download publications on China affairs.
Staff promotions

You can tell others about your staff's promotion free in A Plus. Send details to our publisher.

Sports night
Click here to see the 120 participants at the inaugural sports interest group evening on 18 May.
Click photo to enlarge


For your information

Members enjoy special discount for the HKU SPACE executive diploma in asset recovery law, receivable and fraud control practice.

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