Issue no. 743 (30 May 2019)
  Dear members/member practices,  
  Supervision and Evaluation Bureau visit to the Institute  

On 22 May, Vice-President Johnson Kong hosted a delegation of officials from the Supervision and Evaluation Bureau of the Ministry of Finance led by Director General Guo Jin Xing. The Institute introduced the latest on developments of audit regulatory reform in Hong Kong and the parties discussed co-operation on cross-border audit cases. Click here to see photos.

A Plus – Doing big things

With Micro-, Small- and Medium-sized Enterprises Day approaching on 27 June, the May issue of A Plus features four Institute members on the ups and downs of running small- and medium- sized firms. Other articles include entrepreneurs discussing how to navigate through the start-up phase in Hong Kong; and interviews with the Executive Vice President and Chief Financial Officer of Lenovo, the Finance Director - Asia of Merlin Entertainments, and four of the Institute's champion CPA singers.

Council meeting minutes

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


Roundtable discussions and forum on quality management for firms and engagements

During 23 to 24 May, the Institute hosted roundtable discussions with the International Auditing and Assurance Standards Board (IAASB), local and global CPA firms, as well as a public forum to discuss the IAASB's recent proposals on quality management for firms and engagements. Prof. Arnold Schilder, chairman of the IAASB, and others explained the key requirements, listened to our stakeholder views and shared their experiences on how to implement the proposals.

Financial Controllership Programme

The Financial Contollership Programme 2019 is open for enrolment until 5 June. The FCP is tailor-made to give aspiring and new financial controllers the skills they need to be effective in their roles. The Institute held a graduation ceremony for the 25 graduates who successfully completed the 2018 programme on 10 May. Click to see photos.

Corporate rescue procedure and insolvent trading
Join the workshop on 5 June to learn about corporate rescue and how it is conducted in Hong Kong. The workshop also covers insolvent trading and its impact to directors.

Understanding credit derivatives
The workshop on 8 June will introduce various types of credit derivatives and examine the structure and application of credit default swaps.

Commercial lending
Attend the workshop on 15 June to understand more about commercial lending through real-life cases.

Managing corporate fraud & risk in Asia
At the 18 June forensics lunch seminar, participants will learn how to manage actual threats in view of uncertain global economic climate.

Application of Mainland China and Hong Kong double taxation arrangement – Requirements of beneficial ownership
The seminar on 26 June will cover interpretations of selected articles of the double taxation arrangement between Mainland China and Hong Kong, in particular, concerning the assessment of beneficial ownership requirements for profit repatriations from investments in Mainland China to foreign companies.

Global Directorship Programme 2019
The Hong Kong Institute of Directors and the University of Cambridge Institute for Sustainability Leadership are jointly organizing the Global Directorship Programme again this year. Join an exclusive group of 21 directors and C-suite executives at the local and overseas courses to learn to achieve excellence in board practices in a global setting. Interested members can enjoy a special rate.

Company secretary series
The new series from June to August will cover a range of topics to help company secretaries keep track of their responsibilities and equip participants with the necessary skills to succeed in their roles.

Investment series
Enrol in the new series in July and August to understand the nature and structure of various financial products in the market and to further enhance your investment decision-making capability.
Inland Revenue Board of Review invites members

Please submit nominations for the Inland Revenue Board of Review by 13 June to the Institute's Advocacy and Practice Development Department with the subject "Board of Review nomination".

Invitation to comment

The Institute is seeking comments on the International Accounting Standards Board Exposure Draft ED/2019/2 Annual Improvements to IFRS Standards 2018-2020.

Webcast on Extended External Reporting Assurance consultation paper

The International Auditing and Assurance Standards Board will hold a two-hour webcast on Thursday, 13 June at 7:00 p.m. HKT to introduce the key aspects of the Extended External Reporting Assurance consultation paper currently open for public comment. Register to learn more and ask questions.

AML notice - United Nations sanctions

The updated list of individuals and entities was published on 22 May pursuant to the Gazettal of Terrorists and Terrorist Associates under United Nations (Anti-terrorism Measures) Ordinance (Cap. 575). One entry was removed from the list associated with ISIL (Da’esh) and Al-Qaida. For details, please refer to the press release issued by the United Nations Security Council Committee. Visit the Institute's dedicated webpage for further information.

eSports Fun Day for young members

The Young Members Committee brings you an exciting eSports fun day on 15 June, featuring two game tournaments: FIFA and Mario Kart. The event will be an excellent opportunity to unwind and network with fellow young members. Register now to reserve your spot as a competitor or as a spectator.


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