search icon cross white
spacer bookmark cross
search icon
Search Tags

  Total: Bookmarks

 Bookmark(s) Click icon to add bookmark(s) to my profile

  •  Local Bookmark is Empty

 User Profile Bookmark(s)

  •  Profile is Empty
bookmark cross white
search icon cross white
search icon
Search Tags

忘記密碼/使用者名稱 重新發送啟動電郵 註冊帳號 幫助網絡登錄

HKICPA calls for views from stakeholders on the proposed framework for One Member One Vote election of the President and Vice-Presidents

01 March 2021

(HONG KONG, 1 March 2021) In pursuance of the resolution about "one member one vote" to elect the President and Vice Presidents passed at the Extraordinary General Meeting in 2018, the Council of the Hong Kong Institute of Certified Public Accountants (the “Institute”) has released the consultation paper which sets out proposals for possible changes to various parts of the election model that would enable the one member one vote initiative. The Institute is now calling for views from members and stakeholders in a three-month consultation period from now until 31 May 2021.

In response to members’ request for one member one vote, the Council set up the Task Force for EGM Resolution 2 in 2018 and under its recommendation established an Independent Working Group (“IWG”) in 2020, entrusted with the responsibility of reviewing the current election model and developing a possible framework to implement the election of President and Vice-Presidents by all members of the Institute. After due consideration of complex issues involved in the amendments of the Professional Accountants Ordinance (“PAO”), the IWG came up with the respective proposals stipulated in the consultation paper.

A number of nomination models has been considered by the IWG that would enable the election of President and Vice-Presidents by all CPAs and narrowed these down to three possible options. “The three options in the proposed election framework are not the only possible solutions and there will always be different views. The consultation paper is intended to be a starting point and a catalyst for the necessary discussions that members are strongly urged to participate in, given the importance of the matter,” said Mr. Raymond Cheng, President of the Hong Kong Institute of Certified Public Accountants.


The Council endorsed the consultation paper developed by the IWG. “The proposals are not cast in stone and the Council fully anticipates that members may come to a different view, after reading the consultation paper. As always, the Institute listens to different views of members and the consultation demonstrates our strong commitment in addressing members’ needs,” said Mr. Cheng.

The Council noted the sentiments reflected and recognized the call for one member one vote, albeit the resolution may be subject to challenges on legal grounds. The Council also noted the varying perspectives around the options in the consultation paper and these differences in views are shown in the covering letter to the consultation paper for the purposes of facilitating stakeholders in making their informed decisions.    

“The Institute is a statutory body under the PAO. To change the election model would require comprehensive legislative amendments, a full consultation of all stakeholders and support from both the Government and the Legislative Council would be pivotal,” Mr. Cheng explained.

The Council wants to hear the views of all members and relevant stakeholders. In this connection, the Institute has planned some forums for members and stakeholders to apprise them of the key objectives of the consultation and to gauge their views on the matter.

The consultation paper is available at HKICPA’s website at HKICPA's website.