Issue no. 238 (22 January 2009)
Dear Members / Member Practices,
 
  Institute news
       
 

Budget time Professor K.C. Chan, Secretary for Financial Services and the Treasury, will talk to members on the government's budget on 25 Feb. Past president Paul Chan and deputy chair of the taxation committee Florence Chan will join the discussion. +

 
       

Money laundering  
Join a free seminar on combating money laundering and terrorist financing on 19 Feb. (English) and 25 Feb. (Cantonese) given by the narcotics division of the Hong Kong government. +  

Financial reporting forum
A forum on exposure draft ED 10 Consolidated Financial Statements - a comprehensive review of off balance sheet risk, is taking place on 26 Feb. +

New mainland publications
To keep updated on mainland accounting, auditing and government policy news, subscribe to these three new publications - China standards on auditing, review, other assurance related services and quality control (English version), Accounting yearbook of China 2008 and The Chinese Certified Public Accountant - by 20 Feb.

PC exam revision courses
Practising certificate revision courses in Feb. will prepare you for the PC exam on law and tax planning in May. +

Holiday break for e-circular

The e-circular will be suspended for one week over lunar new year and will resume the week of 2 Feb.


Laisee for the Chest
Share festive happiness by donating your laisee to the Community Chest and improve the livelihoods of people with visual and hearing impairments. +
 
  Member services
Disney on Ice: Princess Wishes
Members get discount for joining the Disney on Ice's performance at AsiaWorld. +
Click here to see the at-a-glance calendar for more member activities.
   
  International news
Tighter control over banks
Governments in Europe are moving more forcefully to take control over banks and their lending policies, International Herald Tribune reports. +

ICAEW gets tough on training
The ICAEW has fined members for the first time for failing to meet continuing professional development requirements, AccountancyAge.com reports. +
 
  Mainland news
企業內部控制評價指引
財政部會計司發佈關於徵求《企業內部控制評價指引》及工程項目等五項內部控制應用指引意見的通知,徵求意見截止日期為2009年2月6日。+

考試制度改革
中注協發佈《註冊會計師考試制度改革方案》。+

職業道德守則
中注協日前發佈《中國注冊會計師協會會員職業道德守則(徵求意見稿)》,徵求意見截止日期為2009年3月31日。+
 
  Tech update

Comments on IFRS 7

The Institute has written to the IASB to say that it appreciates the actions taken by the IASB on the credit crisis, but it does not support proposed amendments to IFRS 7 Investments in Debt Instruments. +

Invitation to comment

Please give your views on the following issues:
 
IASC foundation discussion document of Review of the Constitution: Identifying Issues for Part 2 of the Review. +
   
IASB exposure draft ED 10 Consolidated Financial Statements. +
   
IASB exposure draft of Proposed Amendments to IAS 24 – Relationships with the State. +
   

Illustrative financial statements

Deloitte has published illustrative financial statements for the year ended 31 Dec. 08. +

Tax anti-avoidance

Discussion on refinancing arrangements falling foul of the general anti-avoidance provision can be found in Ernst & Young's Hong Kong tax alert. +
 
  CPD
HKFRS workshop
Come join the workshop on 4 Feb. to keep updated on the new and amended Hong Kong financial reporting standards and interpretations for 2008-09.

Seminar on HKAS 1
Practical implementation of the revised HKAS 1 on the presentation of financial statement will be the theme of the seminar on 9 Feb. +

Due diligence
A joint seminar with the Institute of Chartered Secretaries and the Law Society on 16 Feb. will discuss the failures of and remedies for due diligence. +
 
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