Issue no. 747 (26 June 2019)
  Dear members/member practices,  

The Institute appoints new Chief Executive and Registrar


The Institute today announced the appointment of Margaret Chan as the new Chief Executive and Registrar. Margaret Chan will assume her new position on 11 July. Announcing the appointment, President Patrick Law said the Council is delighted to have secured Margaret for this important position. Click to see the press release.


Network building activities under the GBA initiative


A delegation led by Vice-President Johnson Kong of 30 small- and medium-sized practices visited Huizhou on 20 June to learn about the latest economic development there and explore possible business and cooperation opportunities brought by the Greater Bay Area (GBA) initiative. Click to see photos.

The Guangdong-Hong Kong-Macau CPA practices alliance also held a regular gathering in Guangzhou on 21 June, with close to 150 participants attending to strengthen relationships among accountants in the GBA. Click to see photos.

Leadership visit to Mainland

Led by President Patrick Law, the Institute's annual visit
to the Mainland was held on 20-21 June. The leadership met with senior officials from the China Securities Regulatory Commission, the Ministry of Finance and the Chinese Institute of Certified Public Accountants. Click to see photos.


National Day Celebration Dinner

The 70th National Day Celebration Dinner for the accounting profession will take place on 12 Sept at the Hong Kong Convention and Exhibition Centre. Mark your diary, event details will be announced soon.

Becoming an insolvency specialist

The Specialist Designation in Insolvency is open to members with considerable experience and competencies in insolvency practice, and who have gained the SQ (Insolvency). Holders of the Specialist Designation in Insolvency are entitled to use "SD (Insolvency)" after their names. The current application round will close on 6 Aug.

The rational planning model in strategic management

At the seminar on 5 July, the speaker will introduce the rational planning model and how it can help an organizations make strategic decisions. This seminar also serves as an introduction to the Institute’s Financial Controllership Progamme module on strategic decision planning.

Handling tax disputes in Hong Kong
At the seminar on 15 July, the speakers will introduce the Hong Kong tax dispute settlement process, and share their experience in handling and resolving tax disputes with the Inland Revenue Department and higher level authorities.

Considerations on supply chain transformation and reconfiguring manufacturing footprint
Join the seminar on 18 July for discussion and case sharing on key strategic considerations for restructuring global supply chains in light of the uncertain outcome of the Sino-U.S. trade discussions, as well as the international trade and customs considerations for relocation of production lines from Mainland China to countries in South East Asia.

Cybersecurity threats and privacy
The seminar on 24 July will focus on the latest cybersecurity threats, privacy issues, laws and regulations. The speakers will provide an overview of recent incidents of data breach, key types of cybercrime and discuss influential cases.

Last call to the workshop on 9 July to understand the General Data Protection Regulation and its underlying principles, and how the new rules apply to a Hong Kong-based organization.

Join the seminar on 12 July to gain insights on the HKEX's proposed new environmental, social and governance reporting requirements and to develop a methodology to fulfil them.

Don’t miss the workshop on 15 July to learn how to achieve your organization's objectives and demonstrate competence with measurable goals.

Come join the MBIG evening seminar on 29 July to gain insights about 5G and its impact on our daily lives and business environment.

Accounting & Finance Show Hong Kong
The Accounting & Finance Show will take place at Hong Kong Convention and Exhibition Centre on 25-26 Sept. This free event will feature over 100 presentations from finance experts, illustrating the world’s best technology and solutions, and bringing together finance leaders and practitioners, accountants in practice, advisors and consultants.
Singing technique seminar

Sign up for the singing technique seminar on 22 July to improve your contemporary singing skills and learn techniques to enhance your vocal ability.

Institute's comments

The Institute has submitted comments on the IAASB Consultation Paper Extended External Reporting Assurance.

June IASB update

The June 2019 IASB Update is now available with the updated work plan.

June IFRIC update

The June 2019 IFRIC Update includes a summary of the decisions reached by the IFRS Interpretations Committee in its public meetings. In particular, it includes an agenda decision which explains how an entity applies existing IFRS Standards to holdings of cryptocurrencies. The Institute has previously submitted comments on this tentative agenda decision.

Webcast on borrowing costs and revenue recognition

The IFRS Interpretations Committee recently published an agenda decision on over time transfer of a constructed good in response to the application of IAS 23 Borrowing Costs to the construction of a multi-unit housing development. A webcast was released to explain the conclusions and discuss the application of IAS 23 and its interaction with IFRS 15 Revenue from Contracts with Customers in the context of the agenda decision.

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.

RSCP tennis tournament

Congratulations to the Institute's tennis team who were champions at the RSCP tennis tournament on 24 June, beating other professionals including dentists, doctors, lawyers and surveyors. Click to see results and photos.

RSCP annual dinner

Come mingle with members of other professional bodies and support our CPA singers at the RSCP annual dinner and singing contest on 27 July at the Hong Kong Academy of Medicine.


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