Cheng & Cheng Limited: Authorised Employer

Alice Li is a Partner at Cheng & Cheng Limited, one of our authorised employers. Alice is also a counsellor to our QP students. Over the last few years, she had become increasingly aware of the benefits of the HKICPA Authorised Employer Scheme, not just to the QP students, but also to her firm, as a way of monitoring staff development throughout the period of the practical experience training. "The HKICPA provides us with a great set of guidelines to follow," she enthuses. "Keeping track of where our staff stand in relation to these guidelines gives us a very good idea of what is important when gauging our staff members' development." Click here for more details.

Top CPA Candidates in the September 2005 Session

Module B (Financial Management) Top prize winner 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. Study tips: Understanding the concepts of each topic is vital to the examination. Memorising facts is no use, but being able to fully appreciate the underlying principles of the materials is of the utmost importance. By doing this, you can really apply the concepts to the case study questions. I would strongly encourage you to form study group with your peers. This provides a good platform for workshop preparation, sharing knowledge and tackling problems. Study group discussions and QP workshops always unveil areas that you think you understand, but which in fact you might not.

Module D (Taxation) Top prize winner 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. Study tips: When studying this module, it is important to identify the key areas under each topic and keep an eye on major changes made in recent years, as well as on basic principles. Being well prepared before attending workshops can help maximise your understanding and it is definitely an efficient way to learn and revise, especially during busy periods.

CPA QP Examination Panelists' Reports

New Release of Question & Answer (Q&A) Booklets

New CPA QP Q&A booklets for Modules B and D (September 2005 Session) and the final professional examination (December 2005 Session) are now available for sale at the Institute's reception desk. The booklets cost HK$45 each. Students can enjoy free online access to these Q&A booklets at the QP learning support centre. The Q&A booklets are also available at the Institute's library.

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.

Online Examination Assistance Seminars

Examination assistance seminars on financial reporting and auditing were held in March 2006. Webcast videos for these seminars are now available free-of-charge at the QP learning support centre.

Training Functions

Smart Techniques for Answering Case-based Questions

Contributed by Albert Hung, programme director of HKU-SPACE

Students must first of all clarify the nature of the issues in the question. There are generally three levels: corporate, business and operational issues. Different levels require tailor-made approaches and depth of answer. Often, a case question asks about a mixture of issues. For example, when preparing an answer on a corporate issue, students should support their answers with some strategic views that are relevant to the long-term development of the entity, industry or profession. The arguments should not be one-sided. Students must show that they have related their arguments to the conclusions they have made at the business issue level. Click here to find out more.

The Institute will conduct a readership survey on this e-newsletter, Prospective CPA, by sending you an email in early April 2006. Your views are very important to help us serve you better. Please spare a few minutes and fill in the online questionnaire when it arrives in your inbox.

All respondents go into a lucky draw for a HKICPA leather folio worth $480.

• Council has recently approved 11 applications for registration as authorised employers (AEs) and 10 applications for authorised supervisors (ASs). Please click here for the list.
  
  
• A full list of all authorised employers and supervisors is accessible at the Institute's homepage.
  

CPA QP in Mainland China

The first intake of CPA QP students in Mainland China commenced their studies in February 2006. The students attempted their first and second workshops for Module A in March at the Beijing National Accounting Institute. The workshop facilitators were impressed by the students' enthusiasm.

Our registered students in the Mainland who are interested in enrolling for the May 2006 intake can click here for enrolment application details.

Under the Mutual Examination Paper Exemptions Agreement signed as part of CEPA II, QP graduates will be exempted from two subjects: "Financial Cost Management" 「財務成本管理」 and "Auditing" 「審計」of the PRC CPA Uniform Examination「中國註冊會計師全國統一考試」. This will be a great advantage to those students who would like to head north for expanding their career horizons.

Enrolment Deadline

The May 2006 intake for Modules B & D will commence on 30 May and the enrolment deadline is 28 April 2006. Please click here for enrolment application details.

The Institute of Chartered Accountants in Australia

The Institute of Chartered Accountants in Australia (ICAA) was constituted by Royal Charter in 1928. It has over 43,000 members worldwide. The diversity of its designation continues to spread, with 43 per cent of members now working in commerce and 39 per cent in public practice at locations throughout Australia and in 107 countries around the world. Other members fill positions in government, academia and elsewhere.

The ICAA focuses on leadership, protects the standards and reputation of the accounting profession and influences the policies and regulations that affect the profession.

Through the reciprocal membership agreement signed between the ICAA and the Institute in 2002, Institute members who are qualified through our CPA QP and trained under an authorised employer or supervisor registered with the Institute may apply for ICAA membership (other conditions apply). You can find more details about the ICAA from its website at <http://www.icaa.org.au>.

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