Issue no. 694 (7 June 2018)
  Dear members/member practices,  
  HKCPS visit to Guangdong  
The Hong Kong Coalition of Professional Services ("HKCPS") organized a delegation of its member bodies to visit Guangdong on 1 and 2 Jun. The Institute's delegation was led by Vice President, Patrick Law, who is a member of the board of HKCPS. The visit provided an opportunity for direct dialogue between Hong Kong professionals and the Guangdong government.

The delegation met representatives of the Guangdong government to express our wish list for the further opening of the Greater Bay Area (GBA) market. The Institute requested that the government relax the requirements that the partner of an accounting firm must reside in the Mainland for no less than six months every year; and the main shareholder/partner of an accounting firm must be a Mainland citizen. The Institute also asked to add Hong Kong CPAs who are Hong Kong permanent residents but have not acquired CICPA memberships to the list of "Other Professionals" eligible to take up partner positions in special general partnership firms. In response, the government officials committed to making continuous effort to open the market, and to facilitating greater connectivity within the GBA.

On the following day the delegation visited new transport infrastructure designed to support economic development in the GBA.

Reminder: Financial Controllership Programme
Last call for the Financial Controllership Programme. Take the opportunity to develop competencies needed to become a finance leader who adds value to your business. The enrolment deadline has been extended to 12 Jun.

Anti-money laundering and countering-terrorist financing: From practical perspectives
At the seminar on 4 Jul, the speaker will clarify some common misunderstandings of the anti-money laundering / countering-terrorist financing regime and suggest appropriate policies and procedures, risk assessment methods, and discuss a range of compliance issues participants should be aware of so that business organizations are able to respond to the regulatory requirements.

Delegation to Jiangmen and Zhongshan

The Small and Medium Practitioners Committee is organizing a visit to Jiangmen and Zhongshan on 3 Jul. Join the visit to explore possible business cooperation opportunities brought by the Greater Bay Area. Enrol by 19 Jun.

IT series

The IT series in July will highlight key developments in cybersecurity and data privacy in Hong Kong as well as across the globe, and suggest the practical steps to safeguard against cyberattacks and adhere to data privacy principles.

Enrol in the workshop on 25 Jun to learn the skills needed for managing and resolving conflicts constructively and confidently.
Enrol in the e-learning course and follow-up face-to-face seminar on 26 Jun to gain practical tips on how to structure and issue a convertible bond for listed companies.
Don't forget to enrol in the MBIG seminar on 29 Jun on the opening of the Mainland's financial markets, and learn the latest developments on RMB internalization.

HKTDC seminar on EU General Data Protection Regulation

With the implementation of the European Union General Data Protection Regulation on 25 May, the Hong Kong Trade Development Council will organize a series of public seminars to invite experts to share what the Hong Kong SMEs should know to comply with the latest EU requirement. Registration for the upcoming free seminar on 18 Jul is now open.


Marathon results

The team of Immediate Past President Mabel Chan and Nickolas Ball won the Chairman Cup of the Standard Chartered Hong Kong Marathon 2018. The duo, together with winners of the Chamber of Commerce Cup, received awards at the prize presentation ceremony on 31 May. Click to see results and photos.

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 May; and (ii) revokes the previous 18 May Notice. There is also an amendment to one entry on the list of designations associated with ISIL (Da’esh) or Al-Qaida. For details, please refer to the press release issued by the United Nations Security Council Committees.

HKFRS 17 Insurance Contracts Implementation Support Group

Summaries of the 20 Apr, 27 Apr and 10 May meetings of the Hong Kong Insurance Implementation Support Group are now available.

2018 IFASS meeting

Report of the International Forum of Accounting Standard Setters meeting held in April is now available.

Sports and Recreation Night 2018

Come celebrate the achievements of our CPA sports stars at the Sports and Recreation Night on 27 Jul at the Grand Stage. Over 200 members and friends from the 15 sports and recreation interest groups will join this fun-filled annual gathering. The evening includes exciting games, performances and lucky draws. Sign up now!

Five-Point Invitational Competition

Congratulations to the Institute's badminton and table tennis teams who won the competition on 3 Jun against several government departments, including Audit Commission, Companies Registry, Inland Revenue Department and The Treasury. Click to see photos.


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