News

Issue no. 162 (5 July 2007)

Dear Members / Member Practices,

Institute news

Strategic appointments

Past presidents Eric Li and Paul Chan, council member Sir C.K. Chow, past council member Sophia Kao and member Anthony Wu have been appointed to the commission on strategic development, the HKSAR chief executive's most important advisory body, according to the government's press release.

The Institute is proud of our association with the key advisors to the government.

TV quiz winners

The answers to the quiz about the "success stories" TV campaign are: Profit vs. Penalty, tax practitioners; The Samaritan, small and medium practitioners; The Master of Time, professional accountants in business; The Detective, professional accountants in practice. Congratulations to the five winners (chosen by lot): Ronald Lee, Maria Cheung, K.F. Lam, M.C. Ip and Y.N. Mok, who each won a $500 coupon to buy CPA-branded premium products.

IFAC facts - 30th anniversary series

The International Auditing and Assurance Standards Board under IFAC was established in 2002 to set international auditing, assurance and quality control standards with which the Hong Kong standards are fully converged. To reflect Hong Kong and mainland views, the Institute gives comments to all IAASB exposure drafts and has representatives on various IFAC committees.

N.B. This IFAC facts series is to commemorate the 30th anniversary of IFAC this year. IFAC will celebrate World Accountancy Week 2-8 Dec. 07.

Credit card gift

Come visit the affinity credit card promotion booth on 27/F, Wu Chung House on 11 July at 5:30 p.m. - 8:30 p.m. Bring your residential proof and photo to apply and you'll get extra welcome gifts. Enquiries: Florence Ng at 2287-7055.

Training mission
You have succeeded in your CPA career and you want to pass on your knowledge. Here's your chance by becoming a QP workshop facilitator.

Business news

More than just numbers

Globalization and the rapid development of financial and capital markets are fuelling the need for highly qualified accountants. Institute President Mark Fong explains the versatile roles of accountants during an interview with Career Times. +

$46.88 billion misused

A report by China's chief auditor shows that about 46.88 billion yuan was misused by government departments in 2006. Improper accounting is cited as one of the reasons, Interfax China reports. +

Dow Jones inquiry

The U.S. securities regulator is set to interview witnesses in the alleged insider-trading case involving a Hong Kong couple concerning News Corp.'s proposed takeover of Dow Jones. David Li, chairman and chief executive of Bank of East Asia, is expected to sit for depositions, according to WSJ.com. +

Tech update

TechWatch published

The latest TechWatch is now online. Click the tab above for updates.

New audit tools

Members' demand is soaring for the new audit practice manual which comprises a CD-ROM with Excel-based audit programme templates and company accounts disclosure checklist based on the SME financial reporting standards. The workshops are filling up

very fast with only a few spaces available. Sign up now.

CPD

CPD Online published

The latest CPD Online is now available. Click the tab above for training programmes.

FTC Kaplan programmes

Keep abreast of the latest information about HKFRSs, SME standards, group accounting, Sarbanes-Oxley and mergers and acquisitions by enrolling in FTC Kaplan's programmes. +

For your information

English for accountants

Two publications are available for accountants: Advanced Writing Programme for Tax Specialists ($100 for members and $110 for non members) and Advanced Writing Programme for Auditors ($90 for members and $100 for non members). Visit the Institute services counter for details.

Invest in China

Explore investment opportunities in Guangxi (廣西) and Jiangxi (江西) by joining the Hong Kong Productivity Council's forums in August. +


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