Issue no. 718 (22 November 2018)
 
  Dear members/member practices,  
     
 
 
 
 
  Annual Career Survey  

The Institute is conducting its annual Career Survey. Focusing on employment prospects, new technologies and earning power this year, the survey aims to identify ways to better serve members' needs. Participants who complete the survey will have the chance to win prizes in the lucky draw, including a Dyson Pure Hot+Cool Link purifier fan heater, GoPro HERO6 video camera, and an Apple iWatch.


Institute releases new report on key audit matters

The communication of key audit matters marks a new era of auditor’s reporting by informing stakeholders of the most significant matters identified by auditors. The Institute has released its second-year report into the effects this new reporting has had on users of financial reports, to determine how the profession could better respond to stakeholders’ needs. Read the full report here.

 

Proposed one-year deferral of IFRS 17

On 14 Nov, the IASB tentatively decided to propose a one year deferral of IFRS 17 Insurance Contracts. Read more on the decision and what it means for Hong Kong here.


Submission of CPD declaration for membership renewal
Continuing professional development (CPD) records in MyCPA on the Institute website do not equate to a declaration of CPD compliance. You are still required to submit the CPD declaration with your 2019 Annual Return for Renewal online by 15 Dec.

Risk Management Series – Professional liability
The Risk Management Series between December and February will focus on professional liability, covering common issues arising from requests for information from liquidators and regulators, cyber risks to businesses, particularly accountants, as well as liability risks, and various risk transfer tools that are available.

Cross-border debt recovery in insolvency cases
Join the 4 Dec lunch seminar to understand various issues arising from cross-border debt recoveries, with case examples providing further practical insights for insolvency practitioners.

U.S. tax reforms and their cross-border impact on taxpayers
The 6 Dec evening seminar will cover the key changes to the United States' federal income tax system, focusing on the relevant international tax provisions concerning both corporate and individual taxpayers.

e-Seminar on the guide to the AML procedures manual
The Anti-Money Laundering Procedures Manual for Accountants released in June aims to provide guidance to help users to fulfill their obligations under the Anti-Money Laundering and Countering-Terrorist Financing Ordinance and other applicable ordinances. The recorded e-seminar provides information about how to make effective use of the manual.

Video on Report on Improving Corporate Governance in Hong Kong
Click here to access a recorded seminar where one of the co-authors highlights recommendations in the Institute's major comparative study on corporate governance.

Reminders
Last call for nomination for the 2019 Council Co-option and Committee Appointment. Submit your nomination before 26 Nov.

The workshop on 4 Dec will talk about the Belt and Road initiative, its impact on various industries and related financing providers, as well as the key financing considerations and related risk mitigants.

The joint seminar on 14 Dec will focus on dual class shares (DCS), including the performance of DCS companies over time and the implications for policymakers.

Don't miss the Hong Kong Federation of Insurers' IFRS 17 forum on 27 Nov. Register now with the event code "HKICPA094".


China investment policy
Join the Hong Kong Trade Development Council's free seminar on 6 Dec to hear speakers from China's Ministry of Commerce, and learn about the latest investment policies in the Mainland.
 
Podcast on IFRS 17

Podcast on the November 2018 IASB meeting on IFRS 17 Insurance Contracts is now available.


IASB Update

The November IASB Update has been issued together with the updated work plan.


AML notice – United Nations sanctions and updated list of terrorists

The updated list of individuals, groups, undertakings and entities was published on 20 Nov pursuant to section 25 of the United Nations Sanctions (ISIL and Al-Qaida) Regulation and appears also in an updated list of terrorists and terrorist associates published in the gazette, pursuant to the United Nations (Anti-Terrorism Measures) Ordinance (Cap. 575). Members can find the latest news regarding AML lists and regulations on the Institute's dedicated webpage.

 
Oxfam Trailwalker 2018

Congratulations to all seven Institute teams who took part in the Oxfam Trailwalker 2018 event last week. All teams crossed the finish line between 16 and 36 hours, while team SARA finished the race at a record-breaking time at 16 hours and 42 minutes. Click to see photos and keep supporting the teams (8031, 8032, 8033, 8086, 0065, 0066 and 0067) by making a donation to Oxfam before 18 Dec.


CPA Singing Contest winners

Congratulations to Jacqueline Hsui who clinched the solo division and "My Favourite Performance" award, while Helen Ho and Dicky Chan won the group division and the "Best Stage Presence" award at the CPA Singing Contest on 17 Nov. Click to see full results and photos.


Golf day

Join the golf day and tee off with your fellow members at the Phoenix Hill Golf Club in Dongguan on 15 Dec.


Reminders

Don't miss the bridge gathering on 8 Dec and the 4th mini bridge tournament on 29 Dec to explore the fun of this tactics game and gain more match experience.

Form your own team or join as a member of a team in the bowling winter league between December to March.

 

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