Issue no. 533 (26 February 2015)
  Dear members/member practices,  
  Response to budget 2015-16: steps in right direction but lacks clear vision  

The budget is wide-ranging in funding initiatives but short on specifics, according to the Institute, which talked to the media after the financial secretary's budget speech. The Institute's comments were widely covered by the media including South China Morning Post, Hong Kong Economic Times, Hong Kong Economic Journal, Ming Pao, China Daily, Sing Pao, Hong Kong Commercial Daily, RTHK, ET Net and Infocast. Click here to see the Institute's press releases and budget proposals submitted earlier.

In the evening of the budget announcement day, members attended a lively panel discussion commenting on the budget.

Members pick their favourite 2014 A Plus stories

"A tale for two cities" and "Food for thought " were voted as the most favourite 2014 A Plus cover story and CPA life story respectively by members who participated in a survey. Congratulations to Chow Hoi Ling, Agnes and Tsang Hing Bun for winning the HK$800 Sogo coupon each in lucky draw.

Updates from meetings with Mainland tax authorities

Speakers of the Taxation Faculty seminar on 12 March will explain significant China tax issues raised at the Institute's 2014 annual liaison meetings with the State Administration of Taxation and the Guangdong Provincial Local Taxation Bureau.


Annual report wins global gold award

The Institute again won in the Mercury Excellence Awards, a global competition honoring excellence in professional communication, with its 2014 annual report "Growing with Hong Kong" clinching a gold award for writing and an honor for interior design.

IAASB survey on quality control

IAASB is conducting a survey in connection with its new quality control initiative. Give your comments by taking part in the survey by 27 March.

Prospect and opportunities of China M&A

The Corporate Finance Interest Group seminar on 9 March will talk about the prospect of China's mergers and acquisitions activities and how they could provide new business opportunities for Hong Kong CPAs.

Understanding costs, price and variances

Sign up for the workshop on 14 March to learn more about the two main price variances: materials price and sales price and the impact on cashflow. +

SmartHK in Jinan

Members and CPA practices are invited to participate in the Hong Kong Trade Development Council's SmartHK in Jinan, Shandong Province on 27-28 May to promote Hong Kong's business solution and professional services to Mainland enterprises. Submit your application to HKTDC by 13 March to enjoy 20% discount or call 2584-4487/4016 for details.

Guangdong recruitment programme

If your company has job openings in Guangdong and wants to recruit Hong Kong graduates or students studying at Guangdong universities, you can send the form to Hong Kong Economic and Trade Office in Guangdong which is coordinating a recruitment programme.

Enrol in the China tax course by 4 March, which will cover key China tax laws and practice and their application to tax computation. The course is a compulsory component of the Institute's Professional Diploma in China Tax.
Learn more about the concept of individual accountability with reference to enforcement of directors’ duties in Australia, U.S. and U.K. at the seminar on 3 March. +
The seminar on 4 March will talk about Canadian tax implications and opportunities, and reporting requirements for non-residents investing or starting a business in Canada. +
The INED practices programme between March and April will enhance your understanding of the roles and responsibilities of independent non-executive directors.
If you wish to challenge mountain running, come join the trail running classes starting in March and April.

Places are still available for the Jive, Waltz, Jazz Funk and Jazz classes in March.

Institute comments on IASB discussion paper
Click to see our comments on IASB discussion paper on Reporting the Financial Effects of Rate Regulation.

Invitation to comment
The Institute is seeking comments on IASB exposure draft on Classification of Liabilities.

HKFRS update
Zhonghui Anda has published updates on amendments on disclosure initiative and applying the consolidation exception for investment entities.
Mini bridge tournament
Join the first mini bridge tournament of the 2015 season on 14 March if you are interested in this popular mind game.

Bowling events
The graded bowling competition will take place on 29 March at the South China Athletic Association Bowling Centre.

Join the bowl-for-fun day on 21 March where our bowling team will provide you basic coaching. It is also good for you to practise for the graded bowling competition.

Advanced short game

Come join the advanced short game on 11 April at Kau Sai Chau Public Golf Course to hone your golf skills.

Reminders (continued)
Last chance to join our dragon boat representative team to compete in the 2015 race season. A selection process will be conducted.

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Hong Kong CPA Practice Directory See past e-circulars
HKICPA Source  

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