Issue no. 572 (10 December 2015)
  Dear members/member practices,  
  Council election results and
AGM this Friday

Click to see the seven members who have been elected to the new Council. The official results and the number of votes received by each candidate will be announced at the AGM on 11 Dec. (tomorrow), 5:30 p.m. at 27/F, Wu Chung House. All members are invited. The new president and vice presidents will be elected at a special meeting afterwards. Click here for the AGM notice and annual report.

IFAC roundtable on global regulation

In partnership with the Institute, IFAC hosted a high-level roundtable on 8 Dec. in Hong Kong to discuss the urgency of the regulatory challenge facing the business and the profession and how we can promote growth-friendly regulation in the region. The discussion was based on IFAC's recent survey reports "From Crisis to Confidence: The Role of Good Regulation".


Annual dinner highlights
On 7 Dec., nearly 630 members and guests came together to enjoy a fun-filled annual dinner themed as "CPAs Go Green". Financial Secretary John Tsang Chun-wah was the guest of honor and IFAC CEO Fayezul Choudhury was our special guest. Click to see event photos.

U.S. GAAP reporting: near-term changes and key proposals underway

At the seminar on 12 Jan., speakers from the U.S. Financial Accounting Standards Board will talk about latest development of the U.S. GAAP and how the standard's near-term key changes will impact future reporting. +

Common Reporting Standard in Hong Kong

The seminar under the Compliance Series on 20 Jan. will highlight the implementation issues of Common Reporting Standard for Automatic Exchange of Information in Hong Kong, the standard's near-term timelines and its major difference with FATCA.

Networking lunch cum seminar with Shenzhen CPAs

The seminar on 6 Jan. for practising members will discuss possible ways to overcome the difficulties when investing in Mainland start-ups and how to enhance investment and asset value in face of RMB volatility. +

China taxation seminars
Learn more about China taxation issues at the following seminars in 2016:
Tax anti-avoidance in relation to multinational enterprises on 27 Jan. +

How to better manage investigations from Chinese tax authority on 11 March. +

China tax journals

Subscriptions to the China Taxation (中國稅務) and International Taxation in China (國際稅收) for 2016 are now available. +

Enrol in the TUE session on IFRS/HKFRS 9 on 15 Dec. which will cover issues about timeline and transition, classification of financial assets, impairment and hedge accounting. +

The seminar on 16 Dec. will talk about data privacy and network security, as well as cyber risk and cyber insurance. +

Fourth mini bridge tournament winners
Arthur Hon and Dora Lo won the championship in the final match of the mini bridge tournament on 5 Dec. Lo also clinched the year-end grand prize – Bridge Interest Group trophy. Click to see results and photos.

Reminder: tennis training courses
Places are still available for the elementary and intermediate tennis courses beginning in January.
Institute comments on IASB exposure draft
Click to see our comments on IASB exposure draft Clarifications to IFRS 15.

Illustrative condensed financial statements 2016
PwC has issued sample interim financial reports to illustrate the financial reporting requirements that would apply to a parent entity in a consolidated entity under IFRS as issued at 30 Sept. 2015. +

Integrated reports: benefits for pension funds
Click to see an article from a member of the South African Integrated Reporting Committee working group discussing how integrated reports can bring benefits to pension funds.
Singing with ukulele
Enrol in the 8-session "singing with ukulele" class if you are interested in the Hawaiian instrument. Participants will receive a certificate upon completion of the course.

Golf events
Sign up for the golf day at Phoenix Hill Golf Club on 16 Jan. to enjoy an outbound trip. New special rate is now available.

Join the golf day at Kau Sai Chau Public Golf Course on 25 Jan. where south course and east course are available for players of different levels.

Wine discount
Pudao Wines is offering 25-35% discounts on selected wines until 31 Dec 2015.
to CPD learning centre and events calendar for more activities.

Quick links:
A Plus At-a-glance calendar
Technical resources Visit our website
SMP and SME resource centre Facebook
CPD learning resource centre Change personal information
Hong Kong CPA Practice Directory Email us
HKICPA Source See past e-circulars

For general enquiry regarding content of this circular, please call 2287-7228.


If you require any technical assistance on this transmission, please contact IT support team at 2287-7800 or

Your personal data collected from the enrolment process and administration of courses will be used for the purpose of the administration of the course on which you are enrolled. Such data collected may be accessible by the Institute's officers, persons or committees processing the application and related matters. In addition, the Institute may use the collected data for statistical research and analysis and, if applicable, for validation of CPD hours. The Institute intends to use the personal data of your name, email address and correspondence address to inform you, where relevant, of CPD activities, members' benefits, goods, services, facilities and events organized or provided by the Institute or other organizations. Members and registered students may opt out of receiving such materials at any time by logging in here. Non-members may opt out of receiving such materials at any time by sending an email to the Institute at or a letter to the Institute's privacy officer. For more information about the privacy policy of the Institute, please click here.

Some sections contain information from outside sources. We endeavour to link to reputable sources but the Institute is not responsible for the accuracy of the content and the content does not necessarily represent the views of the Institute.

For merchandise discounts, please click here for terms & conditions.

This email together with the file(s) transmitted is intended solely for addressee(s) only and may contain confidential or privileged information. If you received this email in error, please contact the sender and delete it together with its attachment(s) from your computer(s). You should note that the views expressed in this email are those of the author and do not necessarily represent those of the Institute. The recipient should check this email and all attachments for the presence of virus. The Institute will not accept liability for any damage caused by any viruses transmitted with this email.