Issue no. 770 (6 December 2019)
  Dear members/member practices,  

Professional Development Framework for PAIBs


The Institute’s Professional Accountants in Business (PAIB) Committee recently published the Professional Development Framework for PAIBs to provide a useful and accessible guide to the competencies necessary for PAIBs to perform both their current and desired roles. The framework can help them to shape their careers, realize their objectives, and take control of their learning to achieve their goals. It can also be used by employers and company boards to help evaluate their finance functions. Read more about how to apply the framework in the A Plus how to column.

Annual report published

The Institute's 2019 annual report, "Nurturing success – The Qualification Programme turns 20”, detailing the activities of the Institute over the financial year is available now. The report includes a timeline of the Qualification Programme (QP) and photo essays illustrating how graduates of the QP nurture the success of their clients and employers, and add value across a wide range of sectors. Read the interactive version (recommended browser Google Chrome) or the pdf versions.

BCGA winners

This year's Best Corporate Governance Awards (BCGA) handed out a record high number of 26 awards, three more than last year, including eight first-time winners, one winner for the new Self-nomination Awards - Commendation on Corporate Governance Improvements. The awards presentation luncheon was held yesterday with James H. Lau Jr, JP, Secretary for Financial Services and the Treasury, as the guest of honour. Click here to see the full results, judges' report and press release. You may also read the key observations from the BCGA judges and reviewers in the A Plus thought leadership column.


Annual dinner highlights

On 2 Dec, nearly 500 members and guests came together to enjoy our annual dinner themed "Together We Shine". The Hon Mrs Carrie Lam Cheng Yuet-ngor, Chief Executive of the HKSAR, was our guest of honour. Click to see photos and a video highlight of events from the past year.

A Plus – Special report on corporate tax

The November issue of A Plus looks at developments in the corporate taxation specialization and how technology is changing the role of corporate tax professionals. It also features an interview with KK So, Chairman of the Institute’s Taxation Faculty Executive Committee on his career and the ways that tax industry is evolving. Other articles include interviews with David Kneebone, General Manager at the Investor and Financial Education Council and CPAs who took part in the AC Fun Run.

Opening of bank accounts and recent trend on corporate banking services

At the seminar on 3 Jan, representatives from Bank of China will share approaches to mitigating possible difficulties in opening bank accounts and key considerations in loan applications, as well as the recent trend of electronic payment services.

Network and association
The speaker of the seminar on 6 Jan will share her experience in expanding small- and medium-sized practices’ business outside Hong Kong.

BEPS 2.0
The seminar on 15 Jan will look at the Organization for Economic Cooperation and Development’s Base Erosion and Profit Shifting (BEPS) 2.0 proposals, from the background to the proposals, ideas on the revised nexus and profit allocation rules, minimum tax proposals to potential impacts on Hong Kong's offshore regime.

Overview of the Listing Rules – Listing Rules Compliance (Session 1)
The seminar on 21 Jan will focus on compliance with the listing rules and related issues, including the legal obligations of inside information disclosure, the new requirements for trading suspension and the delisting power of the Hong Kong Stock Exchange.

Last chance to join the case studies workshop on 13 Dec about the requirements and procedures for arranging syndicated loans.

Don’t miss the seminar on 16 Dec to understand the Prevention of Bribery Ordinance in relation to the duties and responsibilities of directors and professionals in preventing corruption and other malpractices.

Attend the seminar on 20 Dec to learn the methods to resolve conflicts and foster collaboration, and how to achieve win-win situation.

Enrol in the Mentorship Programme 2020-21 by 15 Jan to learn from your seniors and enrich your career and personal development as a mentee; or contribute back to the profession as a mentor.

Sports competition results

Congratulations to the Institute's basketball team who came second in the RSCP Basketball Tournament which concluded on 4 Nov. Click to see photos.

The Institute's snooker teams finished second and third in the friendly match on 22 Sep and won the champion in the RSCP Snooker Tournament on 17 Nov against other professionals including barristers, surveyors, doctors and lawyers. Click to see photos.

4th mini bridge tournament

Sign up for the 2019’s 4th mini bridge tournament on 28 Dec to gain tournament experience.

Final call to become a CPA Runner

Submit your registration ID if you have successfully enrolled in the Standard Chartered Marathon on 9 Feb, your family members and friends are also welcome to become one of our CPA Runners to enjoy the privileges, including a new design runners' tee, bag drop service and race pack collection at the Institute. Click here for details.

Institute's comments

The Institute has submitted comments on the International Accounting Standards Board (IASB) Exposure Draft ED/2019/6 Disclosure of Accounting Policies.

AASC meeting minutes

Minutes of the 378th meeting of the Auditing and Assurance Standards Committee are now available.


This e-seminar will give an overview of the Small and Medium-sized Entity Financial Reporting Framework and Financial Reporting Standard (SME-FRF & SME-FRS), including which entities are eligible to use it, the transitional requirements in the first year of adoption, as well as the proposed amendments to the standard published in September.

IFAC launches “Exploring the IESBA Code”

The International Federation of Accountants (IFAC) has launched its first installment of a 12-month publication series titled Exploring the International Ethics Standards Board for Accountants (IESBA) Code, which takes a detailed look at the International Code of Ethics for Professional Accountants (including International Independence Standards). Each installment will highlight key aspects and recent revisions to the code.

IASB podcast

The November IASB podcast is now available.

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.

Singing technique classes

Join a singing technique classes starting in late December to improve your vocal skill for singing pop songs.


Quick links:

A Plus

Technical resources centre LinkedIn
SMP and SME resource centre See past e-circulars
CPD programmes At-a-glance calendar
Hong Kong CPA Practice Directory Change personal information
HKICPA Source Email us

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