Issue no. 165 (27 July 2007)
Dear Members / Member Practices,
 
  Institute news
Obituary
The Institute wishes to express its great sadness at the passing of its first president and one of its founders, Sir Gordon Macwhinnie, on 18 July in England, aged 84. Sir Gordon lived in Hong Kong for nearly 60 years before returning to England last year. Until leaving for England, Sir Gordon continued his active participation in the Institute's affairs. Click here to see the obituary in SCMP.
Judicial review update

The judicial review filed against the Institute by the LegCo representative concluded on 25 July in front of Justice Saunders. We are now waiting for the judgment to be delivered.
AA and student e-newsletters published
The latest issue of Accountant Ambassadors e-newsletter and Prospective CPA are now online. Click the tabs above for details.
Come celebrate National Day
  Mark your diary for the National Day celebration dinner on 20 September (Thursday) at the InterContinental Hong Kong. Watch for booking details in upcoming e-circulars. Sponsorship to the event is now open. +
Corporate governance awards
The Institute's Best Corporate Governance Disclosure Awards is a good opportunity to show your company's high standard of corporate governance. The awards are sponsored by prestigious media including Capital, CNBC, Hong Kong Economic Journal and The Standard. Go to The Standard's website to see the prominent promotion of the awards.
Preparing for mainland exam
Limited copies of the reading materials (in Chinese) for the 2007 PRC CPA Uniform Examination are now available for sale at the Institute's counter. +
Institute is hiring
Bring us your talent by joining our member services, compliance and specialist practices departments. +
 
  Business news
Plastic bag tax

The government defended its proposed 50-cent plastic bag levy, saying it needed to be sufficiently high to be effective. A survey found that most people were only willing to pay 20 cents, SCMP reports. +

Internet boom in China

China has the second most populous netizen in the world with 162 million internet users, trailing U.S.'s 211 million. The China Internet Network Information Center's report shows that the country has 100 new users every minute, People's Daily reports. +
Military audit

Mainland's efforts in protecting public funds have extended to the People's Liberation Army where senior military officials are required to go through an audit, according to China Military Online. +

 
  Tech update
Enlarging IFRIC
Enlarging the international financial reporting interpretations committee will absorb a greater diversity of members' experience in IFRS application, according to the Institute's submission to the IASC Foundation. +
Real estate sales interpretation
Comments are requested on the IFRIC's draft interpretation to standardize accounting practice among real estate developers for sales of units. +
Comments on ethics
Comments are requested on the IFAC international ethics standards board for accountants' strategic plan for 2008-09 and the proposed additional requirements on auditor independence. +
 
  CPD
Annual taxation update
More than 900 participants attended the annual taxation update conference on 14 July. Click here to view photos and handouts will be available for order later.
Management accounting
Management training is useful to your career and so the Institute is co-organizing two courses on management accounting with the U.K. Chartered Institute of Management Accountants on 6-7 October. Apart from useful CPD, these courses help you gain CIMA membership qualification. Courses details will be available later.
Directors' ethics forum
The Institute is co-organizing with ICAC and other regulatory and professional bodies a forum on 14 September to discuss the latest development of directors' ethics, and corruption and fraud prevention. +
 
  For your information
Bid for bankruptcy work

The Official Receiver's Office is inviting interested parties to submit quotations by noon, 24 August for taking up appointments to complete preliminary examinations in bankruptcy cases. The contract period is from October 2007 to June 2008. +

HKFRS from PwC

PwC is sharing ideas and insights on HKFRS and China accounting issues. +
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Disclaimer: "Business news" section
The "Business news" section contains information from outside sources. We endeavour to link to reputable sources but the Institute is not responsible for the accuracy of the content and the content does not necessarily represent the views of the Institute.

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