Issue no. 227 (23 October 2008)
Dear Members / Member Practices,
 
  Institute and accounting news
       
 

Clarifying IASB amendmentsTo explain the amendments to IAS/HKAS 39 and IFRS/HKFRS 7, the Institute's Chief Executive Winnie Cheung issued a letter to members and gave an interview to Metro Radio this week. Click here to hear the radio interview in Cantonese, the television interview by HD TVB and here for the letter.

  
Information Technology Conference
As a professional accountant, it is crucial to understand the latest information technology developments in both the public and private sectors. Learn about how the latest trends in IT can boost your productivity and change your work at this important conference on 22 Nov. Register now as seats are limited.
Accounting and horses
The Institute's 2008 annual report coming in November will showcase Hong Kong's long equestrian tradition with a slight bow to our role as the host to the Beijing Olympics equestrian events. The report shows how our equestrian and accounting traditions have played a role in Hong Kong's social and economic development.
Mainland economic development
Prof. Ren Ruoen of Beihang University (北京航空航天大學任若恩教授), in a seminar co-organized by the mainland business interest group and Hong Kong Trade Development Council on 12 Nov., will discuss the economic impact of the Beijing Olympics and the global financial crisis on China. +
Quality assurance forums
Register for the quality assurance forums, on 27 Nov. or 11 Dec., to learn about practice review, professional standards monitoring, and challenges in complying with standards. +
PAIB happy hour
Come join the happy hour gathering on 30 Oct. to chat with professional accountants working in different business sectors. Admission is free. +
HKEX GEM listing conference
Members are invited to join the HKEx conference on GEM listings, organized by the Hong Kong Trade Development Council, on 31 Oct. at Exchange Square, Central. Attendance is free of charge and seats are available on a first-come first-served basis. +
 
  Social calendar
Reminder: Merry Monday
Don't miss the chance to join Merry Monday for more wine appreciation on 3 November. +
Latin dance class - rumba and samba
Beginner rumba and samba classes are now open for registration. Don't miss the chance to socialize and boogie. +
Leisure topic on Qi – last call
Last call to register for the seminar on learning about ancient Chinese culture through feng shui, on 28 Oct. +
Golf winners
Click photo to see more
Anthony Marr and Timothy Cheung Man-yau are the winners of the 2008 CPA golf tournament, clinching the Wong Tan Cup and the Deloitte Touche Tohmatsu Trophy respectively. The tournament, featuring more than 25 participants, was officiated by Fong Hup, convenor of the Institute's golf interest group. +
New discount offers
Good news! Merchants including HP, Trend Micro and Towngas Avenue are offering discounts on selected products and services. Click here for more details.
 
Click here to see the at-a-glance calendar for more member activities.
 
  International accounting and business news
France orders emergency audit of its banks
France's ministry of finance has ordered an emergency audit of all French banks after one of the country's biggest savings banks suffered a significant loss in derivatives trading, AccountancyAge.com reports. +
U.S. treasury to favor bank mergers
The Treasury Department hopes to spur more mergers by directing some of the $250 billion in bail-out funds to banks that are willing to buy weaker rivals, International Herald Tribune reports. +
 
  Tech update

IASB updates fair value in inactive markets

IASB has published an update on its work to consider the application of fair value when markets become inactive. +

Reclassification of financial assets

KPMG has published an IFRS Briefing Sheet on reclassification of financial assets – amendments to IAS 39 and IFRS 7. +

Borrowing costs

PwC has published the second and last part of Q&As on HKAS 23 (revised) Borrowing Costs. +
 
  CPD
Surviving and benefiting from the global downturn
Sign up for the seminar on 4 Nov. to discover the threats and opportunities of the current turbulence in the world economy. +
How to master the ethical challenges facing accounting professionals
Join the seminar on 10 Nov. to learn practical tips for handling ethical dilemmas and preventing corruption. +
Strategic planning and cost management
This seminar, organized jointly with CIMA on 14 Nov., discusses strategic planning, mergers and acquisitions, and cost management. +
Last call: Professional development series
Members get special rates for the 2008 professional development series co-offered with the Centre for Professional Education Inc. +
Auditing Update Conference
The annual Auditing Update Conference, one of the year's most popular events, will be held on 15 Nov. Sign up now to avoid disappointment.
 
To enrol in CPD programmes, please click here.
 
  Mainland news
國際財務報告準則大會
2008年國際財務報告準則大會在北京舉行。+
新修訂規則
中國註冊會計師協會就《中國註冊會計師協會會員執業違規行為懲戒辦法》、《中國註冊會計師協會懲戒委員會暫行規則》、《中國註冊會計師協會申訴委員會暫行規則》印發了通知書。+
 
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