News

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Issue no. 168 (16 August 2007)

Dear Members / Member Practices,

Institute news

Chinese accountants converge in Hong Kong

The "Cross-straits, Hong Kong and Macau Accounting Profession Conference" organized by the Institute on 21-23 Sept. is expecting 400 attendants from the four jurisdictions. Officiated by HKSAR Financial Secretary John Tsang, the conference discusses CPA practices' risk assessment and management. Enrolment deadline is 31 Aug. and sponsorship opportunities are available. +

Taxation interest group forum

Join the taxation interest group and participate in its upcoming discussion forum on 28 Aug. about current taxation issues of import and contract processing arrangements.

Annual report wins U.S. award

The Institute's 2006 annual report was chosen from hundreds of entries to win the gold medal for best use of black and white photography in the U.S. Magnum Opus Awards, which recognizes outstanding non-commercial publications.

PRC tax bulletin

Subscribe to the PRC Tax Bulletin to stay abreast of the latest PRC tax regulations. The Chinese weekly is offering a free copy of the Finance and Economics Update to full-year subscribers starting in Oct. The subscription deadline is 19 Sept. +

Mainland M&A seminar

Only a few seats remain for the mainland business interest group seminar on 31 Aug. about merger and acquisition regulations in the mainland. Please enrol by 24 Aug. +

Welcome gift

Come visit the affinity credit card promotion booth on the 27/F, Wu Chung House on 22 Aug. at 5:30 p.m. - 8:30 p.m. Members applying on the spot will receive a welcome gift. Enquiry: Yvonne Chew at 2287-7057.

CPD

Insolvency courses postponed

The diploma in insolvency (originally set for 1 Sept.) and the insolvency preparatory 1 & II courses (normally commencing in Nov. and March) will be postponed. Revised dates will be announced in due course.

Business succession

Many baby-boomers who own their businesses are facing financial planning and succession issues. A CPD seminar on 14 Sept. will discuss how CPAs can help them. +

For your information

	Members are entitled to 5% discount to enrol in the HKU SPACE's advanced diploma in international taxation courses. +
	Hong Kong Trade Development Council is organizing a series of overseas seminars in Oct. and Nov. to promote Hong Kong business' role for the China market. +
	The 11th China International Fair for Investment and Trade will take place on 8-11 Sept. in Xiamen, sponsored by the Ministry of Commerce. +

Tech update

Clarifying auditing standards

Give your comments on IAASB exposure drafts of international standards of auditing, which aim to provide clearer requirements and easy to understand application guidance. +

Business news

Times Online honours Sir Gordon

The influential U.K. Times Online featured an obituary of the Institute's first president, Sir Gordon Macwhinnie, citing his accomplishments in establishing the profession in Hong Kong. +

IFRSs in U.S.

The U.S. Securities and Exchange Commission is consulting on whether U.S. companies should be permitted to prepare financial statements in accordance with IFRSs instead of U.S. GAAP, potentially bringing financial reporting in line with most of the rest of the world. +

Sino-U.S. cross-border listing

Chinese and U.S. officials are planning to bring accounting methods in line to eventually allow cross-border share market listings between the two countries. China is also expecting to align its accounting practices with those of the European Union next year, China Securities Journal reports. +

Option backdating convictions

The U.S. government won its first case targeting stock-option backdating with the convictions of Brocade Communications Systems' CEO. The verdict could open a floodgate of criminal charges against other executives identified with such practices, according to CFO.com. +

For your information

Complete the online questionnaire to give your views on Hong Kong's air quality in response to the Council for Sustainable Development's consultation.


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