Securities and Futures Commission: Authorised Employer

While working at a CPA firm is the traditional route by which QP students gain their practical experience, there are other options, including the Securities and Futures Commission (SFC). This independent statutory body became an authorised employer under the QP in December 2004. According to Cindy Fung, director, human resources, training and development, being an AE helps the SFC attract high quality candidates. "It also ensures consistent staff development within our organisation," she says. Click here for more details.

Final Professional Examination Results for the December 2005 Session

Congratulations to the 246 QP graduates from the December 2005 examination session. Please click here for the list of graduates. The pass rate is 67 percent. The panelists' report is now available at the QP learning support centre.

Top Final Professional Examination Candidates in the December 2005 Session

Congratulations to the top three candidates of the final professional exam in December 2005 session. The gold, silver and bronze prizewinners are
Ms Yip Sin Ying, Ms Tam Yuen Lam and Ms Cho Wai Sze.

	Gold Award Prizewinner Ms Yip Sin Ying obtained her Bachelor of Science in Economics and Finance from the Hong Kong University of Science and Technology in 2004. She is now an associate at PricewaterhouseCoopers. Study tips: The QP, with its combination of workshops and examinations, has provided a seedbed in which theory meets practice. Based on this spirit, it is imperative for candidates to study the learning pack thoroughly, especially sections related to the special topics. Work out how each of the topics is inter-related and how to apply your knowledge in different scenarios. In the workshops, make sure you help build an atmosphere of discussion and be critical. Be cooperative and work as a team member. As you are aspiring to be a professional, beef up your answers in the exam with your industry experience and remember proficient writing helps and so practise your written communications skills before the exams. Using these ideas, the door to success is right in front of you.
	Silver Award Prizewinner Ms Tam Yuen Lam obtained her Bachelor of Economics and Finance from the University of Hong Kong in 2004. She is now a staff accountant II at Deloitte Touche Tohmatsu. Study tips: To be successful in the final exam, it is important to integrate all the topics in the four module exams and link them together. Besides studying materials in the learning pack, it is recommended to apply what you have learned from books to your daily accounting work since on-the-job training is one of the most effective means of revision for exams. Furthermore, peer support and a relaxed mind are essential to achieve good results in QP exams.
	Bronze Award Prizewinner Ms Cho Wai Sze obtained her Bachelor of Business Administration (Law) from the University of Hong Kong in 2003. She is now an associate at PricewaterhouseCoopers. Study tips: Apart from testing the technical aspects of the four modules, the final exam is also about information management. Candidates are expected to integrate what they have learned from the four modules to solve comprehensive real life problems. It is worth creating your own mind maps to effectively link related topics discussed in the different modules. By doing so, you will be well prepared to analyse an issue from whatever aspect the question is focusing on. Clear referencing should also be integrated into your mind maps such that you can get what you want in the shortest period of time.

CPA QP Results for the September 2005 Session

	Workshop		Module Examination		Overall Pass Rates*
Module	No. of Candidates	Pass Rate	No. of Candidates	Pass Rate
B (Financial Management)	1185	98%	1323	64%	67%
D (Taxation)	1346	99.6%	1608	55%	60%

Top CPA Candidates in the September 2005 Session

Module B (Financial Management)
Miss Wong Suk Fan obtained her Bachelor of Business Administration in Accounting from Hong Kong University of Science and Technology in 2005. She is now a staff accountant I at Ernst & Young.

Module D (Taxation)
Miss Chan Wing Yu obtained her Bachelor of Business Administration in Accounting and Finance from the University of Hong Kong in 2005. She is now an associate at PricewaterhouseCoopers.

Experience Requirement for Membership Applicants

The Institute's registered students and prospective members are required to acquire three to five years' relevant practical experience, depending on their academic qualifications, in order to become our members. The applicant may acquire such experience with more than one employers, but the minimum length of employment with any one employer should be at least 12 months. Also, the experience must be full-time. These requirements apply to the practical experience under the old system and the new framework. Please take these points into consideration when formulating your career plan.

Revision Course for June 2006 Session

The Institute will offer a revision course for candidates sitting the final professional exam in June 2006. Please click here for more information.

Examination Assistance Seminars

The Institute is organising two examination assistance seminars on financial reporting and auditing on 25 and 26 March 2006 respectively. The speakers will give candidates an update on the accounting and auditing standards and lead them through the lists of special topics for these two modules. Click here for application details.

Training Functions

Contributed by Amy Chow, member of the Practical Training Sub-committee and director of Financial Intelligence Training

Professional accountants require both technical and non-technical competencies for job and career success. Management skills are crucial for career advancement in every industry. Accountants are not accounting robots. You need to work at developing your management skills and making yourself effective managers, which is the second topic in the Life Skills 101 series. This teaches how effective managers perform and how you can get a good start with effective planning and strategic thinking.

CPA QP in China

On 15 February 2006, a Student Orientation Session was held in Beijing to welcome the Institute's first intake of CPA QP students in China. These students will commence their QP study from the February 2006 session at the Beijing National Accounting Institute, our cooperation party in Beijing.

Newly Accredited Accountancy Programmes under the CPA QP

We are pleased to announce that the following degree programmes of the Hong Kong Polytechnic University have been accredited as approved accountancy degree programmes for direct entry to the Institute's CPA QP for five years until February 2011:

• BBA (Hons) in Accountancy/ BBA (Hons) with a major in Accountancy (full-time mode)
• BBA (Hons) in Accountancy/ BBA (Hons) with a major in Accountancy (mixed mode)
• BBA (Hons) in Accounting & Finance/ BBA (Hons) with a major in Accounting & Finance (full-time mode)

For the full list of accountancy programmes accredited by the Institute, please refer to our homepage.

The Institute of Chartered Accountants in England & Wales

The Institute of Chartered Accountants in England & Wales (ICAEW) is the largest professional accountancy body in Europe, with over 126,000 members working in business and public practice in 133 countries. Under the cooperation agreement between our two professional bodies, Hong Kong Institute of CPAs members who qualified through the QP and under an authorised supervisor/employer practical experience framework will be able to take up full membership of the ICAEW without any additional tests. This will enable you to enjoy the prestige of holding a Chartered Accountant credential and receive advice and support from the ICAEW. Other Institute members may also become ICAEW members. You can find more details at www.icaew.co.uk/hongkong, which is specially designed by the ICAEW for our members and QP students. The website contains an open letter from Dr Raymond Madden, ICAEW executive director of learning and professional development.

Discounted Price for Final Professional Exam Candidates

Final professional exam candidates can buy a candidate learning pack at a special discounted price of $280 per copy, a hefty discount compared with the regular price of $500 per copy for members and $650 for the general public.

Student Services Counter

The Institute is moving to Wu Chung House in Wanchai in two stages. The student services counter will still be located at 4th Floor, Tower Two, Lippo Centre, 89 Queensway until mid-summer. Students should continue to go to this counter for all study-related matters.

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	Student Education & Training Department Hong Kong Institute of Certified Public Accountants 4/F, Tower Two, Lippo Centre, 89 Queensway, Hong Kong . Tel: 2287 7236 / 2287 7099
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