Issue no. 728 (14 February 2019)
  Dear members/member practices,  

Corporate Finance Series


The seminar and workshops in March and April will cover various topics related to the key financial decisions faced by organizations and the applications and practical issues of corporate financial management in the capital market.


ForensIG spring cocktail 2019

Come join the Forensics Interest Group's annual spring cocktail on 7 March where Thomas Atkinson, Executive Director, Enforcement, at the Securities and Futures Commission, will be the guest of honour. It will be a great opportunity to meet and mingle with fellow members and guests in a casual and relaxing atmosphere.

A closer look at the United States trade measures against Mainland China
Enrol in the lunch seminar on 12 March to learn about the trade measures imposed by the U.S. government and sanctions compliance issues for businesses. The panel of highly experienced forensics accountants and legal practitioners will also discuss the impacts on business operations and the tips to manage export control.

China Today Series
The seminars on 1 March and 24 Apr will provide an overview of the economic outlook of the Hong Kong and Mainland China economies in 2019 and enhance your understanding of the latest development of the Greater Bay Area.

Professional Diploma in Insolvency
The second module of the Institute's Professional Diploma in Insolvency programme will begin in March with a focus on corporate rescue and restructuring, as well as cross-border insolvency. Enrol by 8 March.

Valuation, audit review, and scrutiny beyond
Join the seminar on 11 March to understand the high-risk areas of concern by regulatory watchdogs and auditors' concerns in their review of valuation models and reports. Attendees will also learn how to identify major potential risk areas in valuation projects and assess the reasonableness of valuation results.

Don’t miss the budget commentary forum on 27 Feb where the speakers will share their perspectives on the government's 2019-20 budget and discuss its impacts on the community and economy.

Last call to join the Property, Infrastructure and Construction Interest Group seminar on 28 Feb to learn about the key features and advantages of Reverse Mortgage Programme.

Cross-border investment services mission to Chongqing and Xian
Join the joint investment and partnership mission organized by the Hong Kong Trade Development Council and the mainland government from 25 to 29 March to connect with mainland enterprises looking for overseas investment and business opportunities through a series of seminars, enterprise visits, business matching sessions and other networking activities. Register by 22 Feb.

Qianhai investment promotion
The Shenzhen Qianhai Authority is holding the Qianhai investment promotion seminar on 27 Feb to provide an overview of the latest development strategies and planning of the Qianhai zone. Register to explore business cooperation opportunities.
Official CPA photographers at the Standard Chartered Marathon

Members are encouraged to wear the Institute's running tee during your race this Sunday at the Standard Chartered Hong Kong Marathon 2019 and give a big smile to our staff and photographers who will be stationed at the photo shooting points at Tin Hau, Tsim Sha Tsui and the cheering zone of Victoria Park to capture your special moments. Don't forget to visit the Institute's booth at Causeway Bay Sports Ground before or after your race. Hot refreshments, physiotherapy treatments and group photo taking will be available.

Try-out session for badminton team

Put your name forward for the try-out session if you are interested to represent the Institute in the cross-border competitions, cross-professional tournaments and other recognized external competitions. All interested members must undergo a selection process on 15 March.

CPA graded bowling competition

Join the annual graded bowling competition on 31 March at the South China Athletic Association Bowling Centre for a morning of great fun and challenge on the lanes.

Table tennis team league

Sign up for the table tennis team league on 14 April to gain match experience. A maximum of 4 players are allowed for each team where male and female players can compete with each other.


Come join this year's first mini bridge tournament on 2 March to gain tournament experience.

Don’t miss the chance to become members of the Dragon Boat Interest Group for the 2019 season. Practice sessions will begin on 3 March.

Members' Handbook updates

Update no. 226 contains conforming amendments as a result of HKSA 250 (Revised) Consideration of Laws and Regulations in an Audit of Financial Statements and HKSAE 3000 (Revised) Assurance Engagements Other than Audits or Reviews of Historical Financial Information.

Update No. 227 relates to amendments to the Small- and Medium-sized Entity Financial Reporting Framework and Financial Reporting Standard.

Hong Kong and international pronouncements comparison

The Institute published a comparison table between Hong Kong and international quality control, auditing, review, other assurance, and related services pronouncements as at 31 Dec 2018.

Institute's comments

The Institute has submitted comments on the Insurance Authority's two consultations:

draft Insurance (Financial and Other Requirements for Licensed Insurance Broker Companies) Rules; and

revised draft Guideline on Enterprise Risk Management.

Circular on reporting related to the Private Columbaria Ordinance

Pursuant to the Private Columbaria Ordinance, the holder of a licence to operate a private columbarium is required to submit a written report prepared by a certified public accountant holding a practicing certificate or a firm or a corporate practice registered under the Professional Accountants Ordinance (Cap. 50) on the compliance by the columbarium with the restrictions set out in Condition No. 24(d) of Chapter 19 of the Application Guide for Private Columbarium Licence and Other Specified Instruments. The Institute issued a circular to provide general guidance for practising members to undertake the reporting engagement.

Revised profits tax returns 2018/19

The samples of 2018/19 profits tax returns and supplementary forms are now available from the Inland Revenue Department.

February IASB Update

The February 2019 IASB Update is now available.

FAQs for AML compliance

The Institute has issued additional questions and answers for matters related to AML compliance.

United Nations sanctions notices

The updated list of individuals and entities was published on 9 Feb pursuant to the United Nations Sanctions (ISIL and Al-Qaida) Regulation, which is also included in the Gazettal of Terrorists and Terrorist Associates under United Nations (Anti-terrorism Measures) Ordinance (Cap. 575).There are also amendments to four entries 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. Go to the Institute's dedicated webpage for further information.


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