Issue no. 778 (13 February 2020)
  Dear members/member practices,  

Budget proposals: Together for a better Hong Kong


The Institute released its budget proposals for the government's 2020-21 budget at a press briefing on 10 Feb, hosted by President, Johnson Kong, Past Chairman of Taxation Faculty Executive Committee (TFEC), So Kwok Kay, and Deputy Chairman of TFEC, William Chan. The proposals include 13 different measures to retain Hong Kong’s long-term competitiveness and help relieve the financial pressures on citizens. Recommendations include supporting citizens and local businesses, developing the tax regime, as well as expanding environmental measures. Click here for the proposals and the press releases.


  Impact of coronavirus  

The current exceptional circumstances are posing a significant challenge to our profession and to our whole society. Members are urged to give priority to their own and their family’s health and the Institute encourages all employers to have adequate measures in place to protect their staff. As mentioned in our earlier email, listed companies (in particular) may face pressure to finalize their accounts before reporting deadlines. Members in business should therefore engage with their auditors as soon as possible, while auditors must be mindful of their responsibilities to uphold the basic principles in the auditing standards. We will continue to monitor the situation and reflect concerns to the relevant regulators.


Study anywhere with the Institute’s e-courses
The Institute has a wide range of e-courses on topics including corporate governance, management accounting and reporting (in partnership with CIMA), financial markets, and more. Explore the full range of courses, and access the learning you need whenever and wherever you want.

INED Essentials Training Program
The Hong Kong Independent Non-Executive Director Association’s INED Essentials Training Program in March is a unique training programme for independent non-executive directors (INEDs) and those who plan to join the INED field.The six modules will train participants in key areas of importance for INEDs. Institute members can register for the course at the special discounted price of HK$3,200.
IFRIC Update

The January IFRS Interpretations Committee Update is now available.

IFRS for SMEs Update

The January IFRS for SMEs Update is now available.

IASB podcast

The January IASB podcast begins with an update on three projects from its research programme. Afterwards, the feedback received to the proposed amendments to IFRS 17 Insurance Contracts and latest developments in the IASB work on financial reporting implications of the reform of interest rate benchmarks were also discussed.

Podcast on IFRS 17

A podcast from the IASB’s January meeting about amendments to IFRS 17 Insurance Contracts 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.


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