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  • In light of the recent situation in Hong Kong, please login to the QP Learning Centre to check the noticeboard for the special arrangements for QP Workshops.
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  • In considering the unforeseen circumstances in Hong Kong and safety issues these entail, the Institute has decided to call off the Cross-straits, Hong Kong and Macau Accounting Profession Conference 2019 which was scheduled to be held on 27-28 October 2019 at the Kowloon Shangri-la Hotel. We are closely monitoring and reviewing the situation and any further announcements about rescheduling the Conference will be made in due course.
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Background

Introduced by the Institute in 2000, the Awards are Hong Kong's most well-established, dedicated CG awards. The main objectives of the competition are to encourage and promote good CG disclosures and practices and to acknowledge listed companies and public sector/not-for-profit organisations that exemplify the best CG standards in Hong Kong.

 

The competition has grown over the past 19 years from a total of three categories and ten possible awards to seven main categories and over 30 possible awards.

 

A category for H-share companies was introduced in 2006, with the aim of establishing benchmarks of good practice for this substantial and constantly expanding group of companies. In 2012, this category was extended to include other large Mainland enterprises, using the "Hang Seng Mainland 100" index as the basis for selection.

 

The non-HSI companies are divided into three separate categories, based on following market capitalization thresholds as at 30 April 2019:

 

(i) Large market capitalisation (Over HK$36 billion),

 

(ii) Medium market capitalisation (Above HK$6 billion to HK$36 billion); and

 

(iii) Small market capitalisation (HK$ $6 billion or less).

 

This year for the first time, public sector /not-for-profit organisations are divided into two categories, namely, (i) large and (ii) small- to medium-size, based on their total revenues. The large organisations category is for organisations whose gross annual revenue exceeds HK$1 billion, while the small- to medium-size category is for organisations whose gross annual revenue is no more than HK$1 billion.

 

For the CG awards, the judging process involves carrying out an assessment of the breadth and depth of information on the CG structures, practices and disclosures contained in the relevant entities' most recent annual report. The reviewers and judges look for disclosures and practices that significantly exceed the minimum legal and regulatory requirements and which demonstrate a commitment to a strong CG and ethical culture.

 

For the SSR Awards and Commendations, separate, tailor-made evaluation criteria have been developed to assess the extent and quality of information provided by candidates, and what this communicates about their underlying practices and culture.

 

CG-related information on the relevant entities' websites may also be taken into account by the judges and reviewers, in addition to the material contained in their annual reports or sustainability/ corporate social responsibility reports. For the award for Website CG Information, clearly, companies'/ organisations' websites constitute the main source of information.

 

Judges and reviewers are invited to take note of other publicly-available information, including media reports, which may give insights into individual entities' CG and ethical practices and culture.

 

Past Judges' Reports contain the results and commentaries on the CG, and also SSR (since 2011), performance of the award winners, as well as general observations on the standard of CG and SSR in Hong Kong, for the reporting year indicated below (click on the relevant link):

 

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