Issue no. 684 (23 March 2018)
  Dear members/member practices,  

Institute's attendance at the FRC Bills Committee


Chief Executive and Registrar Raphael Ding appeared before the Bills Committee on Financial Reporting Council (Amendment) Bill 2018 on
20 Mar. He presented the Institute's views to the committee, focusing on five issues.

Firstly, calling for the public release of documents detailing the various components of the new system, including internal guidelines for initiating disciplinary actions on inspection cases and for sanctioning, the memoranda of understanding between the FRC and Institute and between FRC and audit regulators outside Hong Kong; secondly, the lack of monitoring and regulations for overseas auditors; thirdly, the high budget of the FRC, noting that the increase in the estimated annual expenditure was five times that of the Institute for similar activities, he also stated that investors should pay for the system as the beneficiaries; fourthly, he reported the Institute's concern with the proposal to meet European Commission equivalence, namely filling the FRC with non-practitioners only; and finally, the Institute wishes to see the government include its promised policy commitments within the bill, such as the internal guidelines for initiating disciplinary actions on inspection cases and for sanctioning, checks and balances to prevent those responsible for inspection and investigation from participating in sanctioning, the reviewer system to deal with disputed investigation and inspection findings.

You can read the Institute's full submission to the panel (in English) here and the Chief Executive's speech (in Chinese) here.

Compliance series
The three seminars in the compliance series in April will cover the following topics: discrimination laws, the proposed changes to the Corporate Governance Code and related listing rules, and how the EU's General Data Protection Regulation will affect Asia.

Practical techniques on environmental KPI interpretation and presentation
The seminar on 10 Apr will discuss critical considerations when selecting key performance indicators in environmental, social and governance reporting, and for formulating the presentation method and comparison techniques.

Seminar on Manager-In-Charge regime & guidance on corporate advisory work on valuations
Come join the CFIG lunch seminar on 10 Apr where representatives from the Securities and Futures Commission will share their observations on the Manager-In-Charge regime and other regulatory developments, and explain their expectation of the financial advisers' work on valuations in corporate transactions.

Performance coaching workshop
The workshop on 12 Apr will highlight the fundamental principle of performance coaching, the mindset and approach when conducting performance coaching, as well as the skills to conduct the coaching.

Making Hong Kong the next REIT hub
The seminar on 12 Apr will cover the elements in Hong Kong capital markets that could be improved upon to enhance its position as the hub for Real Estate Investment Trust (REIT) listing. Factors which investors look for when assessing their investments in REITs will also be discussed.

Members discount for the 19th Annual Corporate and Regulatory Update
The Hong Kong Institute of Chartered Secretaries will organize the 19th Annual Corporate and Regulatory Update on 5 Jun to discuss the latest corporate and regulatory developments as well as emerging trends from regulatory bodies. Institute members can register at the member's rate by selecting "HKICPA" under Supporting Organization.
IASB investor update
The March IASB investor update is now available.
Dance event

Dance and dine at the monthly dance dinner on 27 Apr at
百樂會 in Tsim Sha Tsui.


Don’t forget to join the beginner or intermediate snooker training courses starting on 8 Apr.

to CPD learning centre and events calendar for more activities.

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