Issue no. 727 (31 January 2019)
  Dear members/member practices,  

Budget proposals: rising to challenges and staying competitive


The Institute released its budget proposals for the government's 2019-20 budget at a press briefing on 28 Jan, hosted by Taxation Faculty Executive Committee Chairman, KK So, and Budget Proposals Sub-committee Convenor, Curtis Ng. The proposals include recommendations on tax support for research and development and for a home rental deduction, as well as measures to improve roadside air quality and to help mitigate the impact of economic pressures on the community. Click here for the press release and proposals.

Budget commentary forum
The Institute will hold a budget commentary forum after the budget on 27 Feb with Prof. Ho Lok Sang, Dean and Professor of Economics of Chu Hai College of Higher Education, Hon. Kenneth Leung, Legislative Councillor (Functional Constituency - Accountancy), David M. Webb, founder of, KK So and Curtis Ng. They will discuss the budget's impacts on the community and economy.

A Plus – Natural capital accounting
The January issue of A Plus looks at how companies can benefit from putting a value on natural resources; and the new business opportunities for collaboration and innovation through the Hong Kong Monetary Authority's new open Application Programming Interface framework. Other articles include interviews with Catherine Williams, Co-founder of the Institute’s Forensics Interest Group, on her winding path to becoming a forensic accountant; and CPA footballers share their highlights.

Career survey 2019 lucky draw winners
Congratulations to the 15 winners of the career survey 2019 lucky draw. The winners will be notified individually and the survey results will be available soon.

Minutes of AGM and Council meeting
Minutes of the Institute's 46th annual general meeting and December Council meeting have been published. Click here and login to read them.

Office closures and holiday e-circular break
The Institute offices and library will be closed at 4 p.m. on 4 Feb (Chinese New Year's Eve) and from 5 to 7 Feb (Chinese New Year holiday). There will also be no e-circular next week.

Aligning the R&D and transfer pricing arrangements in Mainland China in the post BEPS era

The seminar on 15 Feb will provide updates on the development of the transfer pricing regime in China in the post base erosion and profit shifting era with a focus on the research and development activities and intellectual property ownership.

Ethical decision making
At the workshop on 26 Feb, representatives from the Independent Commission Against Corruption will discuss the model for ethical decision making. Participants will develop useful perspectives for identifying ethical issues and the skills needed for resolving ethical dilemmas.

Wealth management series
Enrol in the seminars in February and March to learn how artificial intelligence can help investors.

Soft skills series
The seminars and workshops from February to May will cover various types of soft skills to further your business development or career advancement.

Internal control series
Attend the seminars in March to enhance your understanding of the best practices in managing fraud risks in an organization and the legal and regulatory framework governing businesses. You can also learn about the investigative powers and procedures of the Securities and Futures Commission and the Independent Commission Against Corruption.

Independent non-executive directors practices for accountants
The executive programme for accountants jointly organized by the Institute and the Hong Kong Institute of Directors begins on 4 Mar. Come join the workshops if you are interested in understanding more about the roles and responsibilities, and best practices of independent non-executive directors for preparing their current or future roles, as well as the related legal and regulatory updates.

Applying blockchain in real business scenarios
Join the seminar organized by the Hong Kong International Chamber of Commerce on 19 Feb to gain insights on the developments and trends of blockchain technology. The speaker will share real business cases how blockchain can be applied to create value. Register on or before 4 Feb to enjoy a special discount.

Enrol in the two-day workshop in February to build up your systematic business mindset, from financial investment theory to practical application.

Don't miss the Advanced Hong Kong Tax Course starting on 23 Feb to enhance your ability to analyse contemporary taxation issues and develop sound tax planning solutions.

Join the Property, Infrastructure and Construction Interest Group seminar on 28 Feb to gain insights on the key features and advantages of the Reverse Mortgage Programme.

Introduction of keelboat sailing

Enrol in the two-day keelboat sailing course in February and March to explore the exciting world of sailing.

Dragon boat team recruitment

The Dragon Boat Interest Group is recruiting members for the 2019 season. New recruits and experienced paddlers are both welcome. Sign up by 22 Feb. Practice sessions will begin on 3 March. Click here for details.

Mini bridge tournament

The first mini bridge tournament of 2019 will take place on 2 March.

Members' Handbook update

Update no. 225 contains amendments to Definition of Material in HKAS 1 Presentation of Financial Statements and HKAS 8 Accounting Policies, Changes in Accounting Estimates and Errors.

Institute's comments

The Institute has commented on the consulation proposal on Licensing Regime under the Property Management Services Ordinance.

International meeting highlights

The summaries of decisions of below meetings are now available.

IAASB's December board meeting

IESBA's December board meeting

January IASB Update

The January 2019 IASB Update is now available.

Circular from the Securities and Futures Commission

The Securities and Futures Commission issued a circular to licensed corporations on the revised form of the financial return to enable them to report excluded lease liabilities. Effective from 1 Feb, the form supersedes all previous versions and shall be used for a return required to be submitted under section 56 of the Securities and Futures (Financial Resources).

AML notice

Visit the Institute's anti-money laundering dedicated webpage for the updated lists of terrorists, terrorist associates and relevant persons/entities under United Nations sanctions.


Don’t miss the singing technique classes starting in February to improve your vocal skill for singing pop songs.

Last call to join the free seminar on 15 Feb to understand developmental needs of children at their different stage of early childhood.

Enrol in the training course beginning on 23 Feb to improve your bridge playing skills.

Last chance to form a team to join the 3-on-3 basketball competition on 2 Mar to compete in this fast-paced game.

Remember to put your name forward to represent the Institute at the RSCP golf tournament on 13 March.


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