Albert Au, managing director of BDO McCabe Lo Limited, was elected the Institute's new president at a special council meeting on 14 Dec. after the AGM. The new vice presidents are Wilson Fung and Paul Winkelmann, and two new faces in the council are Mabel Chan and Raphael Ding. The government has appointed Edith Shih, company secretary of Hutchison Whampoa and Sir C.K. Chow has retired after serving for three years. Click here for the full council and here for the press release.
Budget proposals
A clear, certain and consistent tax system is important to Hong Kong, according to the Institute's submission, "Threats and Opportunities: Hong Kong's Olympian Challenges" to the financial secretary. +
Yvonne Law and Alexander Mak host the briefing.
ORO tenders
The Official Receiver's Office is inviting tenders for appointments as provisional trustee in bankruptcy as a pilot scheme under section 12(1A) of the Bankruptcy Ordinance. +
Guangzhou mission
The Institute is organizing a study mission with HKTDC to four Guangdong government departments and two enterprises on 17-18 Jan. The mission will include a seminar on the new mainland corporate income tax law. +
Football matches
The Institute's football team took part in matches with CPAs in Shenzhen and Guangzhou on 15-16 Dec. Click here to see photos.
Other news in brief
A seminar on contract disputes organized by the property, infrastructure and construction interest group will take place on 15 Jan. +
The Institute's China Desk manned by the Shenzhen Institute of CPAs is providing free advisory service on PRC accounting, taxation, customs, investment opportunities, industry and commerce, economics and trade. +
You are invited to run the Institute's PRC workshops series for members. Click here for structure, format, frequency and proposed outlines.
Business news
Mini H-share index
HKEx will introduce a mini H-share index in the second quarter of 2008 to monitor the increasing number of Hong Kong-listed mainland SMEs, China Daily reports. +
Estate administrators
Two partners of Deloitte have been appointed by a court as administrators to the late Nina Wang's HK$100 billion estate, according to SCMP.com. +
Brunei: wealthiest in Asia
Brunei tops the list of Asia's richest economies by per capita income and Hong Kong residents are the biggest spenders, according to a study coordinated by the Asian Development Bank, the International Herald Tribune reports. +
Tech update
Comments are requested on the revised practice note 820 about audit of licensed corporations and associated entities of intermediaries. Join the seminar organized with SFC on 12 Jan. to learn more about the audit of licensed corporations and associated entities of intermediaries.
The Institute comments on five proposed redrafted ISAs affecting audit reports +
SMPs can make use of IFAC's new guide for auditing SMEs using ISAs. +
IFAC has released a paper to highlight international accounting firms' practices and examine how setting the right tone can positively influence audit quality. +
Ernst & Young Global has released 2007 year-end IFRS update. +
CPD
Members need a minimum of 20 CPD hours (either verifiable or non-verifiable) each year for the purpose of renewing membership. And in each rolling three-year period, a minimum of 120 CPD hours has to be completed including 60 verifiable hours.
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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