HKICPA Trust Fund
Hong Kong Institute of Certified Public Accountants (HKICPA) has established a trust fund for the relief of poverty by providing assistance to people experiencing severe financial hardship and who are members of HKICPA or dependants of people who were members of HKICPA when they died.
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The trustees seek to support members to continue working as CPAs, aiming to help them during a period of severe financial hardship to re-establish their financial independence
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Bereavement, old age, unemployment through ill-health, accident are examples of causes of poverty which may be considered in applications to the HKICPA Trust Fund. The trustees may also consider applications where members have been unemployed for at least six months and are experiencing severe financial hardship. |
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Where a member is unemployed and in severe financial hardship, the trustees may consider funding the annual membership fee for up to three consecutive years.
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Grants and loans |
Applications
Completed application forms for financial assistance towards payment of the Institute's annual subscription fees must be returned to the administrator of the trust fund prior to the payment due date of the subscription year. The trustees' decision to approve or reject an application for assistance shall be final. Trustees consider each application on its merit and they have the absolute discretion to approve or reject an application. Applicants will only be informed of the decision of the Trustees.
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Application Forms
(i) Application for financial assistance towards payment of the Institute's annual membership fees where the applicant is unemployed up to three years.
(ii) Application for financial assistance towards payment of the Institute's annual membership fees where the applicant is unemployed as a result of ill-health.
(iii) Application for grants or loans
The HKICPA Trust Fund, being a charitable trust, is exempt from tax under section 88 of the Inland Revenue Ordinance. Administration of the trust fund is vested with four trustees who are the incumbent president, the incumbent immediate past president, one vice president and a former council member of the Institute.
CPD matters
The Institute may grant exemption from CPD to members in certain circumstances. For information about the exemption criteria, please refer to paragraphs A28 - A29 and Appendix of Statement 1.500 (Revised March 2021). Generally, no exemption will be granted to members holding practising certificates or specialist designations or directorships of any companies.
The Institute offers free attendance of selected CPD events for unemployed members. Click here for information about this support programme.
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For further information about CPD exemption, please contact our CPD Compliance Hotline on 2287-7228 or email to cpdcompliance@hkicpa.org.hk.
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