Issue no. 212 (11 July 2008)
Dear Members / Member Practices,
 

We bring you two new items starting with this issue. First, a new member services tab covers news on accountant ambassadors, interest groups, sports, benefits and premiums. Second, we've expanded the business news section to include international accounting news. Please tell us if you find this useful and we welcome your feedback.

 
  Institute news
     
  BCGD Awards 2008 invites entries  
 

"Best first-time annual report award" is a new category this year for Best Corporate Governance Disclosure Awards and about 80 debutante IPO companies are eligible. How H-share companies fare will also be the focus, according to the organizing committee, which announced the start of the competition at a media briefing on 10 July. +

 
       

    Service to LegCo election candidates
 

The news media is bubbling with excitement over who is and isn't running for LegCo in September. The Institute is offering candidates from the accountancy functional constituency a channel to members by posting their election materials. Click here for the Institute's chief executive letter for details about the service and how to opt-out if you don't want to receive election materials through this service.


Goldies Club discusses private companies reporting

The Goldies Club's breakfast meeting on 13 Aug. will have vice president and chairman of financial reporting standards committee, Paul Winkelmann, to talk about the consultation on financial reporting by private companies. +


Differing views on source of profits

Source of profits is still controversial, even though the Court of Final Appeal has handed down its judgment on ING Baring Securities (Hong Kong) Ltd v CIR in Oct. 07. To let members know more about the case and its implications, A Plus featured three articles in July 08, June 08 and Dec. 07 covering views from practitioners and IRD.


TIG membership
The taxation interest group membership 2008-09 is open for enrolment. Apply now and benefit from a range of interesting events on tax issues. See the TIG section of the Institute's website for details. +

Protect your digital copyright
Members are invited to two forums about copyright protection in the digital environment organized by the Commerce and Economic Development Bureau on 12 and 26 July. +

Hot jobs from CPA Source
Employers in accounting, telecommunications, management and manufacturing are looking for CPAs. Visit CPA Source for details. +
 
  International accounting and business news
IFAC guidance on governance and costing

IFAC's professional accountant in business committee has released for public comment two new proposed international good practice guidance documents, which are about evaluating governance structures and use of costing to support effective decision making. +


New chair of IAASB

IFAC has appointed Prof. Dr. Arnold Schilder to lead the IAASB beginning 1 Jan. 09. Schilder is currently executive director of De Nederlandsche Bank NV and a member of the Basel committee on banking supervision and served as chairman of its accounting task force from 99 to 06. Schilder brings a wealth of experience and strong integrity to lead the IAASB in developing high quality international audit standards, according to IFAC President Fermin del Valle. +


AICPA issues guidelines to fight fraud

New guidelines for fighting fraud have been released by AICPA, Association of Certified Fraud Examiners and Institute of Internal Auditors to provide a practical approach for companies to improve fraud risk management. +


G8 aims halve emissions

Group of eight countries said they want to work with 200 states to adopt a goal of at least halving greenhouse gas emissions by 2050, IHT.com reports. +


Recession looming for UK firms

A survey of 5,000 SMEs shows that U.K. is facing a serious risk of recession within months, BBC News.com reports. +

 
  Member services
Beijing city group luncheon talk

CICPA expert will discuss with members the new PRC internal control assurance guidance for enterprises at the Jockey Club in Beijing on 28 July. All members who happen to be in Beijing are welcome. Please register now. +


Badminton

Come cheer the Institute's badminton team competing with other professionals on 20 July at 2 p.m., at MacLehose Medical Rehabilitation Centre, Pokfulam.


Happy hour

Come join the gathering on 31 July to mingle with professional accountants from various business sectors. Admission is free. +

 
  Tech update

Dual compliance

Here are ways to ensure compliance with both HKFRSs and IFRSs. +

New TUE

Exciting programmes on financial reporting and auditing have been lined up in the coming months at Technical Update Evening. +

HKAS 32 and HKAS 1 amendments

A summary of amendments to HKAS 32 Financial Instruments: Presentation and HKAS 1 Presentation of Financial Statements - Puttable Financial Instruments and Obligations Arising on Liquidation is now available for download. +
 
  CPD
Code of ethics
Code of ethics and quality control are core to the profession so come join the workshop on 21 July to learn more. +

Corporate governance
Don't miss the seminar on 17 July about how company directors uphold corporate governance. +

China forum series a hit
More than 1,500 people have attended the China forum series running from April to July. Click here to order presentation materials.
 
  Mainland news
懲戒執業違規
中註協就會員執業違規行為懲戒辦法的修訂發布徵求意見稿。+

執業質量檢查
中註協正全面部署2008年度事務所執業質量檢查工作。+
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