Issue no. 211 (4 July 2008)
Dear Members / Member Practices,
 
  Institute news
     
  Past presidents and members honoured  
 

Four Institute past presidents were honoured by the government on 1 July for their contributions to Hong Kong. Marvin Cheung was awarded Gold Bauhinia Star and Tim Lui was awarded Bronze Bauhinia Star while David Sun and Edward Chow were appointed as Justices of the Peace.

 
       
    The following members also received honours: Eddy Fong (G.B.S.), James Kong (J.P.), Larry Kwok (B.B.S.), Anthony Wu (G.B.S.) and past council member Gordon Jones (B.B.S.). This is a sure sign that the profession is the "success ingredient" for Hong Kong.  
       

Hong Kong experience explained at Beijing internal control conference

Mainland financial regulators have issued a framework on internal controls effective for China listed companies from 1 July 2009. At a conference in Beijing on 28 June, Institute Chief Executive Winnie Cheung explained Hong Kong's experience in adopting its framework. Click here for the Ministry of Finance's press release.

One exposure draft on internal control guidance on auditing is ready for public consultation until 30 Sept. Members are welcome to express their views to us on the ED to this email. Watch this space for two more exposure drafts for "assessment" and "application."


    Getting ready for the elections
 

The news media has started speculating about who will run in LegCo elections, including the accountancy sector. After four years, you have a chance to vote on 7 Sept. Click here for the appeal letter from the Institute's chief executive and here for a feature in July A Plus.


A Plus: China's global acquisitions skills
China's overseas acquisitions skills are getting better as reported in the July issue of A Plus. Urban Renewal Authority's new managing director Quinn Law, a CPA, talks about his mission to clean up Hong Kong. See the main story here and refer to your copy coming soon.

AA e-newsletter published
Two training sessions on how to conduct storytelling and roadshows will be held in August for Accountant Ambassadors involved in the "Rich Kid, Poor Kid" programme. Click the tab above to see the new AA newsletter.

Others
Zeman photos
Photos of the Young CPAs talk with Dr. Allan Zeman on 28 June are ready for viewing online. +
 
FSIG seminar
The subprime aftermath is the theme of the financial services interest group seminar on 10 July. +
 
Latin dance
Only limited places left for the "jive" class on 9 and 16 July. +
 
PAIB gathering
The next professional accountants in business gathering takes place on 31 July. +

Sports
Basketball winners
Team PwC Alumni won the basketball competition on 29 June. The first, second and third runners-up teams were BIG, PwC 1 and Challengers. +
 
Sports night
Last call to join the CPA sports night on 11 July. All members are welcome. +
 
  Tech update

Comments on ISAE 3402

The Institute supports the proposed ISAE 3402 Assurance Reports on Controls at a Third Party Service Organisation issued by IAASB. +

TechWatch 69

The latest TechWatch covers amendments to HKAS 32 and HKAS 1 and an update on the double taxation arrangement with mainland. Click the tab above for more.
 
  CPD
Is this relevant?
When choosing a CPD course, it's useful to ask yourself what is relevant to your professional development. Training for leadership and non-technical skills are recognized. Click here for FAQs.

CPD briefing
The briefing session on CPD requirements on July 15 is full. Hurry to book your seat for the next ones on 4 Aug. and 9 Sept. +

Corporate governance
The CPD on 17 July will highlight the role of company directors in promoting corporate governance. +

CPD Online
Check out the new CPD Online above for new courses including equity-linked investments.
 
  Business news
More factories closing

Hong Kong companies may shut down 20,000 factories in Guangdong province this year due to increased fuel costs and wages, China Daily.com reports. +


New oil market

The new Hong Kong Mercantile Exchange will aim to serve energy-thirsty China by issuing oil futures contact, BusinessWeek.com reports. +


Bill Gates and Microsoft

The history of the personal computer is inextricably linked to life stories of Bill Gates, according to the timeline compiled by BBC News.com. +

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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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