On 27 July 2005, the Institute officially signed a Mutual Recognition Agreement with the Canadian Institute of Chartered Accountants in New York. The new agreement gives our CPA QP members – for the first time – practicing rights in Canada. CPA QP is now recognized on five continents – Africa, Australia, Asia, Europe and North America.

Click here to see the joint letter from the two bodies.

Recent Council Rulings

• The Practical Experience Framework Support Manual stated that as a transitional arrangement, if an employer/supervisor was registered as an Authorised Employer (AE) / Authorised Supervisor (AS) by 30 June 2005, the practical experience acquired by the registered student under this AE/AS would be recognised for membership admission from 1 January 2005 onwards. The 30 June 2005 deadline has now been extended to 31 December 2005. If you are not yet working under an AE/AS, you should urge your employer / supervisor to take advantage of this transitional arrangement to register as an AE/AS before 31 December 2005.
  
  
• CPA QP graduates gain their practical experience under the AE/AS programme must acquire the relevant practical experience within 10 years after their registration as a student of the Institute for their membership admission. Joint Examination Scheme graduates are exempt from this requirement due to their longer history of student registration with the Institute.
  
  
• There is a change of the qualification requirements of Authorised Supervisors and Counsellors of Authorised Employers. With effect from 1 July 2005, only persons with three years' membership with the Institute, or the following accountancy bodies, are eligible to act as the supervisors or counsellors:
  Canadian Institute of Chartered Accountants
  Institute of Chartered Accountants in Australia
  Institute of Chartered Accountants in England and Wales
  Institute of Chartered Accountants in Ireland
  Institute of Chartered Accountants of New Zealand
  Institute of Chartered Accountants of Scotland
  Institute of Chartered Accountants of Zimbabwe
  South African Institute of Chartered Accountants
  The Institute has agreements with these bodies whereby their practical experience requirement is recognised by the Institute for membership admission. You can refer to the AE/AS application forms (Form AEMP & Form ASUP) on the Institute's homepage (AS / AE ) for details.
  

List of Authorised Employers / Authorised Supervisors

• Council has recently approved 38 applications for registration as AEs and 53 applications for ASs. Click here to see the list of new registrations.
• A full list of all AEs and ASs can be found on the Institute's homepage (AS / AE) .

CPA QP Results for February 2005 Session

	Workshop		Module Examination		Overall Pass Rates*
Module	No. of Candidates	Pass Rate	No. of Candidates	Pass Rate
B (Financial Management)	687	97%	783	67%	69%
D (Taxation)	658	99%	815	57%	62%

CPA QP Examination Panelists' Reports

The Panelists' Reports of Module B (Financial Management) and Module D (Taxation ) of February 2005 Session are now available at the CPA QP Learning Support Centre.

Top CPA QP Candidates of February 2005 Session

Module B (Financial Management)
Mr. Tse Chi Hang obtained his Bachelor of Business Administration in Accounting and Finance from the Hong Kong University of Science & Technology in 2004. He is now a Staff Accountant I at Ernst & Young.

Study tips:
A good study plan will definitely help a lot because you will not have time to study during weekdays. A detailed plan will make your studying much more efficient. Also you should use your common sense to study this module. You don't need to memorise all the material. Instead, you need to understand the rationale behind each topic.

Module D (Taxation)
Ms. Wu Au obtained her Bachelor of Business Administration of Professional Accountancy from the Chinese University of Hong Kong in 2001. She is now an Assistant Assessor at Inland Revenue Department.

Study tips:
I strongly recommend that CPA QP students start going through the Candidate Learning Pack as early as possible so that they can have sufficient time to make their own index for quick reference during the workshops. Discussions with colleagues can also help you to understand the underlying principles. Merely copying the materials from the learning pack will not only make you run out of time during the examination, but will also make your answers irrelevant.

CPA QP Examination Attendance Dockets – Modules A & C (May 2005 Session)

Online Examination Results

CPA QP candidates who have applied for a Student Login Account may view their results online within two weeks from the official result release date. If you do not yet have a login account, visit our website for information on how to obtain one.

Revision Course for Dec 2005 FPE The Institute will offer Revision Course for candidates sitting the FPE in December 2005. Please click here for more information.

Technical Update Seminars


The Institute is organising two technical update seminars on 7 & 14 August 2005. In these seminars, the speaker will lead candidates through a list of special topics designated for the May 2005 session CPA QP Modules A and C. Click here for more details.

Training Functions

Student Social Activities


A "Happy Hour" social gathering will be organized on 31 August 2005. Students and Workshop Facilitators are all welcome. Top candidates from the CPA QP will share their views and experience on examination related topics. Refreshments, luck draw, souvenirs, etc... will be provided. Click here for application details.

Thank you for your contributions to the Student Needs Survey. We received over 750 responses. Your feedback is invaluable to the development of our future student programmes. The results of the survey will be published in this Prospective CPA later on. As a token of our appreciation, 30 winners have been picked from a lucky draw of all respondents. They will be invited to join the Student Social Gathering on 31 August 2005 and will receive WELLCOME supermarket coupons, each valued at $200.

Michael Page International has recently published a finance salary survey which provides a comprehensive coverage of market activities and trends within the accounting and finance sector, including a detailed insight into salaries, remuneration packages and recruitment trends. To read the survey, click here.

Members of the Student Services Committee

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