Important
Notice

The Hong Kong Institute of Certified Public Accountants announced that from Wednesday 15 July 2020 until further notice, the closure of the library facilities and the adjustment of the services hours of the counter on the 27th floor from 11:00 a.m. to 3:00 p.m. from Monday to Friday, whilst counter services hours on Saturday remains unchanged (from 9:00 a.m. to 12:00 noon).


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Insolvency Best Practice and Ethics

Insolvency Guidance Notes

The Insolvency Guidance Notes (IGNs) were announced at a press conference held in September 2005 and became effective for insolvency appointments made on or after 1 October 2005.

 

The IGNs represent the first practical guidance issued by the Institute in this area of specialization and the first coordinated guidelines on insolvency issued in Hong Kong.

 

Currently, there are four IGNs, covering some of the more important areas of insolvency practice. The IGNs, which are contained in Volume I of the Members' Handbook (as Statements 1.600-1.603) are as follows:

 

 

[Please note: The above IGNs are currently being updated and the revised versions will be posted soon.]

 

 

Professional Ethics in Liquidation and Insolvency

Members of the Institute who work in the insolvency field should also familiarize themselves with Part E, Section 500 of the Code of Ethics for Professional Accountants – Professional Ethics in Liquidation and Insolvency. This sets out requirements relating to conflicts of interest and other threats to the fundamental principles under the Code, and provides examples of how these requirements apply in specific situations.

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