Important
Notice

Member services

 

In view of the stabilizing coronavirus situation in Hong Kong, the Hong Kong Institute of Certified Public Accountants announced resumption of the library facilities and normal services hours of counter on the 27th floor with effect from 4 May 2020 (Monday).

 

For the latest advice, guidance and other updates, from the Institute, regulators and other bodies, please visit our regularly-updated COVID-19 – CPA Information Centre webpage.

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COVID-19 CPA Information Centre

COVID-19 – CPA Information Centre

Disruption to all of our personal and business lives continues due to the spread of the COVID-19 coronavirus in Mainland China, Hong Kong and around the world. We at the Institute are acutely aware of the additional pressure this has put on our members to try and maintain their working routines and continue to provide quality service to employers and clients.

This information centre collates together information and messages from the Institute and other bodies that members may find helpful.

 

Member services

The counter on the 27th floor and library facilities are operating their normal service hours:

 

   Counter services  Library
Weekdays:    9:00 a.m. - 6:00 p.m.  9:00 a.m. - 7:00 p.m.
Saturdays:  9:00 a.m. - 12:00 noon     9:00 a.m. - 12:00 noon
Sundays and public holidays:      Closed   Closed


CPD workshops and sports and recreation events

After having assessed the developing COVID-19 situation, until further notice all face-to-face continuing professional development (CPD) workshops will be delivered as webinars, and all sports and recreation events are cancelled.

 

Free e-Learning CPD courses

There are a selection of free e-learning CPD courses available for members and QP students. There are both verifiable and non-verifiable CPD programmes. The verifiable CPD courses are: 

 

Non-verifiable CPD courses:


Practice review
Reviews are still being undertaken at the Institute’s office. Tentative plans to undertake on site practice review visits are being made and notifications will be sent to the relevant practice units once the schedule is finalized.

 

Complaint handling
We take great pride in the efficiency and fairness of our complaint handling process and discharge our duty to protect the public interest while respecting the interests of our members. To allow members involved in complaints to properly deal with enquiries and other related matters, our compliance team will consider requests for extension of deadlines on a case-by-case basis.

 

Institute’s messages

The Institute has sent members messages on the COVID-19 epidemic and the impact on its activities. The latest of which is below.

 

Date Latest message
22 May Updates on two Anti-epidemic Fund measures for practising accountants
  Full archive

 

 

 

 

New webpage on government relief measures 

The government has announced over 70 measures to support Hong Kong through the COVID-19 pandemic. To help members, the Institute has created a webpage containing important information about schemes most relevant to the community.

 

Free access to International Standards

Members can access ICAEW’s International Standards for free. Containing world-class technical resources, practical guidance, and live and recorded webinars, International Standards offers relevant and detailed information on accounting, auditing and ethics standards. For access, members need to complete a short registration process.


Support Programme for attending CPD

The Institute’s Support Programme has long been offering 5% of the seats at face-to-face CPD events free of charge to members who are unemployed or who are not working and planning to rejoin the workforce.


In light of the continuing restrictions and the replacement of face-to-face events with webinars, the Support Programme has been extended to include webinars. Eligible events are indicated in the event list.

 

HKICPA Trust Fund

The HKICPA Trust Fund, provides assistance to members and their families experiencing financial hardship. Details can be found here.

 

We recognize the need for flexibility in the current situation and so have lifted the requirement to complete a full application form. Applications can be sent to the Secretary (hkicpa_trust@hkicpa.org.hk) with a brief outline of the circumstances. Applications will be considered on a case-by-case basis by the fund’s trustees, who may seek further information or a full application.

 

 

 

 

 

Advice for auditors

 

Financial reporting

 

Listed companies reporting 

 

Small and medium sized entities

 

Restructuring and insolvency

 

Taxation

 

 

 

Exemption from compulsory quarantine arrangement

Practising members required to travel to the Mainland

The government announced on 18 May that certified public accountants (practising), partners, directors or employees of registered practice units who are required to travel to the Mainland to conduct audit work for companies listed in Hong Kong with Mainland operations may apply for exemption from the compulsory quarantine arrangement. The Institute is providing administrative support for the scheme, and has sent public interest entity auditors an email, information paper and forms (1, 2) for their completion. 

 

Other professions that can apply for exemption

 

Advice on general meetings

The government is beginning to loosen the social distancing regulations implemented to prevent the spread of COVID-19. For companies with annual general meetings in the next few weeks, there are specific exemptions to the regulations to allow them to hold their AGMs. More details can be found in the press release from the government. Other bodies have also released guidance:

  • The SFC and the HKEX released a joint statement on 1 April.
  • The Companies Registry has a webpage containing answers to questions about holding a general meeting.
  • The Hong Kong Institute of Chartered Secretaries has also published guidance and messages on the topic on 31 March, 9 April, and 21 April

 

Government services

  • Companies Registry – On 4 May the Companies Registry resumed its public services. Refer to the announcement for details.
  • Inland Revenue Department – On 4 May the department’s public services resumed normal opening hours. Refer to the department's website for opening hours of its various offices.
  • The Judiciary – All court proceedings generally resumed from 4 May. The court and tribunal registries will also be re-opened in stages from 6 May, beginning with the registries of the Court of Final Appeal and the High Court. Refer to the announcement for details.
  • Official Receiver's Office – On 4 May the Official Receiver's Office resumed its public services. Refer to the announcement for details.

Inland Revenue Department announcement of deadlines

On 30 March the Inland Revenue Department (IRD) announced various issuing and filing deadlines for the 2019/20 financial year.

  • Electronic filing of Employer’s Return for year ending 31 March 2020:
    The IRD has issued Employer’s Return to the employers on 1 April requesting them to report income details of their employees.  Employers can file the returns via the IRD’s eTAX, traditional means or the IRD’s mixed mode service.
  • Profits tax returns:
    The IRD will issue 2019/2020 profits tax returns to “active” companies on 4 May, around a month later than normal. Profits tax returns in unrepresented cases are due for filing within one month of issue. However, companies which are represented by authorized tax representatives will get extensions under the IRD’s block extension scheme.
    This year there are also special extensions available under the block extension scheme for companies with accounting date code “N” (i.e. those whose accounting year end dates falls within 1 April to 30 November 2019). For N-code companies represented by tax representatives, filings are due by 30 June.
    For unrepresented N-code companies that do not expect to be able to meet their one-month deadline  which means filing their returns by 3 June, they can request IRD in writing for an extension of time. Requests will be considered on a case-by-case basis.
  • Country-by-country reporting notification deadline:
    The IRD will allow Hong Kong entities and their service providers to file country-by-country reporting (CbCR) notifications via the CbCR portal on or before 1 June for all accounting periods ending between 31 December 2019 and 29 February 2020.
  • Individual tax returns:
    The IRD will issue 2019/2020 individual tax returns on 1 June, which is also around one month later than usual. Taxpayers are required to complete and send the tax returns back to the IRD on or before 30 June. Taxpayers who elect for electronic filing via eTAX receive an automatic one month extension.

On 9 April the IRD announced that deadlines for the second payments for salaries tax, personal assessment and profits tax will be extended automatically for three months if the first payments are duly settled before the payment due dates. The extension does not apply to property tax, salaries tax due for individuals who will leave Hong Kong for good, and payments in which instalment arrangements are in place.

 

 

 

 

The HKSAR government

  • The HKSAR government’s COVID-19 Thematic Website, a one-stop platform for the local situation of the COVID-19 epidemic, including figures and dashboards relating to the epidemic, infection situation updates, government’s measures, health advice and guidance, as well as public services special arrangement updates.
  • Information Services Department, latest news on the COVID-19 from news.gov.hk.

 

International bodies

 

Global Accounting Alliance members

 

Accounting firms

 

Law firms

 

Others

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