Issue no. 759 (19 September 2019)
 
  Dear members/member practices,  
     
 
 
 
 

National Day Celebration Dinner

 

The 70th National Day celebration dinner for the accounting profession was held on 12 Sept and welcomed around 700 members and guests. We were privileged to count Paul Chan Mo-po, Financial Secretary of the HKSAR Government, Tan Tieniu, Deputy Director of the Liaison Office of the Central People's Government in the HKSAR, and Yang Yirui, Deputy Commissioner of the Ministry of Foreign Affairs of the People's Republic of China in the HKSAR as our guests of honour. Click here to see photos of the evening.


Delegation to Foshan under the GBA initiative

A delegation of 30 small- and medium-sized practices, led by Vice-President Johnson Kong, visited Foshan on 10 Sept 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.

 

Council meeting minutes

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


Mandatory CPD requirements for 2020 membership renewal

Members who joined the Institute before 1 Dec 2016 are required to complete 120 hours of continuing professional development (CPD) in the three years ending 30 Nov 2019 – of which 60 hours must be verifiable. Time is running short before the year-end membership renewal. Click to learn more about CPD requirements.


Leading high performing teams: Maximize revenue generating machine

Enrol in the workshop on 30 Sept to gain knowledge of the four essential team leadership skills and techniques to maximize the performance potential of your team members.


Practical Banking Issues Series
The seminars in October will cover practical banking issues concerning opening company bank accounts, requirements of loan applications and financing services for small- and medium-sized enterprises.

Debt restructuring – recent developments in Singapore’s Schemes of Arrangement
Sign up for the lunch seminar on 8 Oct to learn more about the latest developments in Singapore of the scheme of arrangements and its application in debt restructuring situations under recent legislative reforms.

Reminders
Don’t miss the seminar on 30 Sept to enhance your understanding of cybersecurity and IT risk management, and hear important areas of concern for small and medium practices (SMPs), as well as insights and technical guidelines to help SMPs build a trustworthy and secure company.

Join the case studies workshop on 5 Oct to learn how to identify investment opportunities and how to apply event-driven investing strategies in equity markets to enhance portfolio returns.

 
HKIS 35th Anniversary Run - Runderful Pro

On 15 Sept, President Patrick Law and the Institute's running teams participated in the Presidents’ Invitation Cup and 10KM Professional Institutions’ Invitation Cup of the HKIS 35th Anniversary Run - Runderful Pro. Click to see the photos.


AC Fun Run 2019

Join the inaugural AC Fun Run 2019 on 3 Nov at Tseung Kwan O organized by the Institute, the Society of Chinese Accountants and Auditors, and the Association of Chartered Certified Accountants. Family and friends are also welcome.


Reminder

Last call for football enthusiasts to join one of the two football leagues held between October 2019 and August 2020. Enrol in team A for fun-filled competition or team B for challenge fuelled one to enjoy the games and improve your football skills with fellow members.

 
Institute’s comments

The Institute has submitted comments on the IAASB’s Discussion Paper on Audits of less complex entities in exploring possible options to address the challenges in applying the International Standards of Auditing.


IASB article on better information about business combinations

In its goodwill and impairment project, the International Accounting Standards Board (IASB) is investigating how companies can provide users of financial statements with better information about business combinations at a reasonable cost. It is also considering the challenging question of how to account for goodwill after a business combination. This article discusses the IASB’s preliminary views on these matters and encourages responses to the IASB’s forthcoming discussion paper.


Classification of financial instruments under HKAS 32: Debt vs Equity

The workshop on 29 Oct will provide a brief recap of key HKAS 32 Financial Instruments: Presentation requirements and will discuss how to apply them to some commonly-seen financial instruments in Hong Kong, such as convertible bonds and preference shares.


Industry update relating to licensed corporations

Join the seminar on 31 Oct for an update on the Securities and Futures Commission’s review of brokers’ internal controls for protection of client assets and supervision of account executives. Some past cases where control deficiencies in brokers had jeopardized client interests will also be shared.


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.

 

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