News

Issue no. 183 (29 November 2007)

Dear Members / Member Practices,

Institute news

Council election

Cast your votes to elect seven council members. Votes must be in by 5:30 p.m. on 11 Dec. Click here for the letter from the Registrar on 27 Nov.

Interest groups activities

The property, infrastructure and construction interest group is organizing a seminar on contract disputes on 4 Dec. Click here to join the group and here to register for the seminar. The group's latest outing was a trip to Macau Venetian Hotel and the Macao Trade and Investment Promotion Institute on 23 Nov.

Click here to see photos of the information technology interest group's visit to the training and operation centre of MTR on 17 Nov. Register for the interest group for the next visit.

Hot jobs

AXA, Talent2, Metropolitan Life Insurance and the Institute are looking for accountants. Go to CPA Source for details.

ORO tender and panel A review

The Official Receiver's Office is inviting members to submit tenders for appointment as provisional liquidators under section 194(1A) of the Companies Ordinance. +

The ORO is reviewing the panel A scheme guidelines and it says it will not accept any new applications right now except for replacements of existing appointment takers and insolvency practitioners. On another note, ORO is reminding members to avoid identifying themselves as registered appointment takers or insolvency practitioners if they have left their panel A firm or their employing firm ceases to be a panel A firm.

Other news in brief

	The latest issue of student e-newsletter is published. Click the tab above for details.

	Come join the Lantau hike on 1 Dec. organized by the water sports and hiking interest group. +

	The Institute's Global Accounting Alliance partner, the Institute of Chartered Accountants in Australia, has published two papers on the profession's role in the financial planning industry, which is growing rapidly in Australia. +

	Young members participated in Merry Monday - a happy hour gathering - in Oct. and Nov. and talked with Arthur Shek in Nov. Watch for upcoming activities in 2008.

Tech update

	Let us have your views by 31 Jan. about the discussion paper on assistance to new listing applicants and their sponsors regarding internal controls over financial reporting. +

CPD

	More than 1,000 participants attended the annual accounting update conference on 24 Nov. Click here to view photos and background materials will be available for order soon.

	Come join the seminar on 17 Dec. to learn about the research that goes into fund management. +

A new e-seminar course on HKAS 27, 28 and 31 about consolidation and equity accounting is now available for subscription. +

Business news

Debut of Islamic fund

Hong Kong took its first step to develop an Islamic finance market when Hang Seng Bank announced an Islamic equity fund to invest in constituent stocks of the Dow Jones Islamic Market China / Hong Kong Titans Index, The Standard.com reports. +

Huge subprime losses to come

Subprime losses in the U.S. could reach US$300 billion, much bigger than what major banks have accounted for so far, the website of the International Herald Tribune reports. +

Lease accounting

A new research shows that the new standard on lease accounting in the U.S. will boost profits of company with substantial operating leases, CFO.com reports. +


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