Issue no. 688 (27 April 2018)
  Dear members/member practices,  
  Appointment of new auditors  
As detailed in the email from the Chief Executive on 25 Apr, Mazars CPA Limited has resigned as auditor of the Institute with effect from 23 Mar, after the Institute and Mazars were unable to reach an agreement on the fees for providing services required under the Professional Accountants Ordinance, namely, audit of the financial statements of the Institute and its subsidiaries for the financial year ending 30 Jun and the 2018 Council election vote counting.

The newly appointed auditors, PKF Hong Kong Limited, will hold office until the Institute's next Annual General Meeting.
Connecting Finance and Natural Capital Supplement Launch and Workshop
On 23 Apr the Institute hosted the launch of the Natural Capital Coalition's Supplement to the Natural Capital Protocol. Attended by business and finance leaders the event offered attendees first access to the new global guidance, heard practical case studies from leading financial institutions, and debated the drivers and challenges to becoming pioneers of natural capital. Click here for event photos.

Blockchain technology and cryptocurrencies: Fuelling financial evolution or illicit activities?
At the lunch seminar on 7 May, experienced practitioners will share how blockchain technology and cryptocurrencies work, examine whether they are facilitating illicit practices, and discuss what the future regulation of cryptocurrencies may be like.

U.S. tax reform
Enrol in the seminar on 7 May on key provisions of the U.S. tax reform, including domestic provisions on tax rate reduction, repeal of alternative minimum tax, net operating loss revisions and international provisions such as new interest limitation rule, transition tax, and participation exemption which will impact U.S. inbound/outbound investments.

Identification of potential improvement for ESG performance under a win-win situation
At the seminar on 9 May, the speaker will share his insights on the purpose of identifying potential tangible and intangible benefits in the journey of environmental, social and governance reporting.

Impairment - A challenge in every financial reporting

Take an e-learning course and follow-up face-to-face seminar on 15 May to gain in-depth knowledge about valuation methodologies for impairment assessment.

Join the FSIG lunch seminar on 9 May to understand the data analytics techniques and tools, as well as manage loans' portfolios.
Don't forget to enrol in the Mainland China tax conference on 19 May to learn how the latest Mainland tax developments are affecting Hong Kong and international businesses.
Last call to enrol in the MBIG cocktail reception on
4 May to meet the CFO of selfie app developer Meitu.

Shanghai-Hong Kong Commercial Mediation Forum
The Joint Mediation Helpline Office, Hong Kong Mediation Council and Shanghai Commercial Mediation Centre together will host an event titled "Development, Opportunities and Future of Mediation in Hong Kong, Mainland and the Belt and Road Regions cum the 4th Shanghai-Hong Kong Commercial Mediation Forum" on 19 May in Hong Kong. Enrol online to learn more about the future of mediation in the region.

IIA HK's Annual Conference 2018
The Institute of Internal Auditors is hosting its annual conference titled "Audit in a Disruptive World" on 4 Jun. Topics relating to cryptocurrencies and its impact on internal auditing, use of data analytics and artificial intelligence to detect and prevent fraud, and cyber risk incidents and ethics of the latest regulatory requirements will be discussed.

Debut of the China International Import Expo
The China International Import Expo, organized by Ministry of Commerce of the People's Republic of China and Shanghai Municipal People's Government, will be held from 5 – 10 Nov at the National Exhibition and Convention Center in Shanghai. Visit the website to find out more about participating in the event.
United Nations sanctions notices

Gazettal of Terrorists and Terrorist Associates under United Nations (Anti-terrorism Measures) Ordinance (Cap. 575) includes updating of specification of terrorists and terrorist associates designated by the United Nations Security Council Committees. The Notice (i) specifies the updated list of terrorists and terrorist associates designated by the Security Council 1988 Committee on 10 Apr and the Security Council 1267/1989/2253 Committee on 29 Mar; and (ii) revokes the previous 13 Apr Notice. There are also amendments to one individual associated with the Taliban. For details, please refer to the press release issued by the Security Council Committees.

Gazettal of the United Nations Sanctions (Somalia) (Amendment) Regulation 2018 in English / Chinese.

Invitation to comment

The Institute is seeking comments on the IESBA Consultation Paper: Proposed Strategy and Work Plan, 2019-2023. Comments are sought by
15 Jun.

Introducing the revised Conceptual Framework

New IASB webinars are available to introduce the revised Conceptual Framework for Financial Reporting.

Dance events
Intermediate level cha-cha-cha and elementary level samba classes will both begin on
10 May in Wanchai.
Join the next round of beginners jazz classes on
19 May in Mongkok.

Dance and dine at the monthly dance dinner on 25 May at
百樂會 in Tsim Sha Tsui.

Tennis training courses

Come join the tennis training course starting in late May and learn from a professional coach. Elementary and intermediate sessions are available.


Last chance to enrol to the swimming classes between May and July.


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

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.