Issue no. 697 (29 June 2018)
  Dear members/member practices,  
  Roundtables on international standard setting  
As part of the outreach activities undertaken by the Monitoring Group in connection with its proposals on changes to international auditing and ethical standard setting, the Institute co-hosted two roundtables with the Monitoring Group earlier this week. These international discussions could result in major changes that impact the auditing and ethical standards followed by Hong Kong auditors. The roundtables were chaired by a senior staff member of the UK Financial Reporting Council and were attended by representatives of the Institute, Hong Kong and Singapore auditors, Hong Kong Stock Exchange, the International Federation of Accountants, the International Forum of Independent Audit Regulators, the Global Accounting Alliance, the International Ethics Standards Board for Accountants, the Japanese and Korean professional bodies and the Japanese Financial Services Authority.

Tender invitation from the Ministry of Finance

The Ministry of Finance of China has recently issued an invitation for tender to study the Internationalization of China’s Certified Public Accounting Profession. Organizations including, but not limited to, research institutions, educational institutions, and CPA firms are encouraged to apply. The objective of the study is to make recommendations for internationalizing China's CPA profession including regulatory regime, policies to promote internationalization, and development of CPA firms' international networks, etc. Details including the project Terms of Reference can be found here.


Council meeting minutes

The abridged minutes from the May Council meeting are now available for members to read. Click here and login to your account to view them.

How to plan ahead for potential disruptions to your supply chain caused by the looming China-U.S. trade war
At the 17 Jul event, the speaker will provide an update on the factors driving the new tariffs and will consider the potential supply chain strategies to mitigate disruption and tax issues for your business.

Performance coaching

The workshop on 23 Jul will discuss the importance of performance coaching (to employees, management, as well as the organization) and introduce a practical three steps approach in conducting performance coaching.

PICIG seminar on IFRS/HKFRS 16 Leases

Come join the Property, Infrastructure and Construction Interest Group seminar on 23 Jul where Mr. Byron Khoo, Partner, Assurance – Professional Practice of EY will introduce the scope of the new HKFRS 16 with a focus on its impacts on property, infrastructure and construction industries, as well as explain an accounting model for lessees and relevant implementation issues.

Family offices in Hong Kong

At the seminar on 26 Jul, the speaker will share insights about the development of the family offices in Asia, particularly in Hong Kong and provide an introduction on how to structure them.

FSIG seminar – FinTech for you

Register for the Financial Services Interest Group lunch seminar on 31 Jul where Dr. Paul Sin, Partner, Consulting of Deloitte will talk about some of the core technologies that drive the growth of FinTech such as Artificial Intelligence, Blockchain, Open Application Programming Interfaces and Digital Business Model.

Don't forget to enrol in the seminar on 6 Jul on investment strategies for non investment professionals.
Last call for the workshop jointly organized with ICAEW on 19 Jul to gain knowledge about the strategies and techniques to become a more resilient individual.
Early bird discount for the World Congress of Accountants in Sydney this November will end on
30 Jun. Seize your chance to network with accountants from around the world.

Corporate Governance Excellence Awards

Submit your nominations for companies or organizations that foster the highest standards in corporate governance, business ethics and board leadership by 24 Aug for the Corporate Governance Excellence Awards jointly organized by the Chamber of Hong Kong Listed Companies and Hong Kong Baptist University Centre for Corporate Governance and Financial Policy.

IASB update

The June IASB Update is now available.

IFRIC update

The June IFRIC Update is now available.

Accounting for cryptocurrencies

This publication by CPA Canada offers an overview of cryptocurrencies and an analysis on possible approaches to account for them under IFRS.

Dance events
Elementary level samba and intermediate level cha-cha-cha classes will both begin on 5 Jul in Wanchai.
Join the next round of beginner jazz classes on 14 Jul in Mongkok.
Dance and dine at the monthly dance dinner on 20 Jul at
百樂會 in Tsim Sha Tsui.

Football League

Football Interest Group is inviting members who are football enthusiasts to form a team to participate in either 7-a-side or 11-a-side league, to be held between August 2018 and July 2019. Sign up to enjoy competitive games and improve your football skills with fellow members.

Golf day

Players of all handicaps are welcomed to the upcoming golf day on 28 Jul at Kau Sai Chau Public Golf Course.

Volleyball team recruitment

The Institute is recruiting members to participate in the Recreation and Sports Club for Hong Kong Professional Bodies Volleyball Tournament. Interested members should submit their names and competition history by 10 Jul. A selection process will then be conducted.


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