Issue no. 752 (2 August 2019)
  Dear members/member practices,  
  Consultation on the Hong Kong Business Valuation Quality initiative  

In early 2019, the Hong Kong Business Valuation Quality Initiative Task Force – of which the Institute is an active member – was set up to investigate ways to improve business valuation quality in the Hong Kong market. The task force recently issued its consultation paper on the proposed framework to enhance valuation standards and professionalism. The Institute and task force are seeking comments on the proposals by 15 Nov.

    A Plus – Influencing the fabric of reporting  

The July issue of A Plus discusses the significant role the Institute plays in helping to shape financial reporting standards and preparing stakeholders for their implementation. Other articles include the benefits and risks of smart homes, and interviews with the Chairman of the Canadian Chamber of Commerce in Hong Kong, the Airport Authority's Executive Director of Finance and some CPA golfers. This issue also brings you a new three-interviewee column, "Second Opinions", asking three experts for their views on a question, and a new “Young Member of the Month" feature. Look for more new content next month.


Distressed asset/ debt investments – Understanding litigation funders' perspectives and appetite

The lunch seminar on 16 Aug will discuss third party litigation funding, including as an alternative investment strategy. The speaker will also cover the opportunities available to third party funders in winding-up and arbitration cases, the funding structures, the investment process and the associated risks.

Professional Diploma in China Tax – China Tax Course
The China Tax Course starting on 24 Aug is a compulsory component of the Institute's Professional Diploma in China Tax, which provides foundation knowledge on taxation laws, practice and computation. The course can also be taken on a standalone basis to complement your China tax knowledge. Join the demo lesson on 8 Aug to learn more.

Best Corporate Governance Awards 2019
Don't forget to submit entries for the Institute's Best Corporate Governance Awards 2019 by 12 Aug. The awards promote a culture of good corporate governance and sustainable business practices, helping to enhance investor and public confidence in the Hong Kong capital market. Click here for more details, including the judging criteria, entry form and self-nomination form.

Last chance to enrol in the workshop on 6 Aug for an overview of full-scale cybersecurity management plans for enterprises and how having one helps companies to survive in the environment full of cybersecurity risks.

Don’t miss the workshop on 12 Aug to learn how to develop staff by implementing individual competency-based development plans and connect staff with the organization to enhance their commitment.

Enrol in the seminar on 12 Aug for a discussion about the new Mainland China foreign investment law and tax issues relevant to multinational companies.

Last call to join the CFIG lunch seminar on 12 Aug to understand more about the open-ended fund companies regime, and how it will further develop Hong Kong's asset management industry.

Join the free seminar on 20 Aug to gain knowledge on the Stock Exchange of Hong Kong's environmental, social and governance reporting requirements in relation to disclosure of anti-corruption information and the Independent Commission Against Corruption review of listed companies' anti-corruption information disclosure.

Don't miss the MBIG evening seminar on 21 Aug to learn about the latest development and business models of the Mainland elderly care services industry illustrated by case studies.

Sign up for the case studies workshop on 31 Aug to understand dual and triple currency investment, target redemption note/forward, and term sheet analysis.

Business ethics development lecture
The Hang Seng University of Hong Kong will organize a free business ethics development lecture on 5 Aug. Topics include business ethics in action, data ethics in personal data protection, suspicious transaction reporting and environmental, social and governance reporting guide, governance and environmental ethics. Click here to register.

HKIoD Directors' Symposium 2019
The Directors' Symposium 2019 organized by The Hong Kong Institute of Directors (HKIoD), and themed "Embracing Innovation for Sustainable Growth", will take place on 17 Sept. The symposium will showcase visions and innovation of various industries, including artificial intelligence, construction, energy, investment banking, pharmaceutical, real estate investment and virtual banking. Register before 16 Aug to enjoy the early bird fee at HK$980.
Members' Handbook update

Update no. 231 contains amendments to accounting standards that are effective for annual reporting periods beginning on or after 1 Jan 2019.

Post-implementation review

The Institute has published the feedback statement on the post-implementation review of the Small and Medium-sized Entity Financial Reporting Framework and Financial Reporting Standard.

New FAQs on revenue recognition considerations in the engineering and construction industries

The Institute has issued new questions and answers for matters related to the revenue recognition considerations in the engineering and construction industries under HKFRS 15 Revenue from Contracts with Customers.

AASC minutes

Minutes of the 375th meeting of the Auditing and Assurance Standards Committee are now available.

IASB July update

The July 2019 IASB Update, which includes summaries of the discussions of the monthly meeting and the joint meeting with Financial Accounting Standards Board, as well as the updated work plan, is 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

Enrol in the singing technique classes starting in August to improve your vocal skill for singing pop songs. Join a class that suits your level or the stage performance technique class to build your confidence on stage.

Golf day

Join the golf day and tee off with your fellow members at Kau Sai Chau Public Golf Course on 24 Aug.

IFA Asia Pacific Regional Tax Conference
The Asia Pacific Regional Tax Conference organized by the International Fiscal Association (IFA) will take place 1 - 3 June 2020. Join to gain up-to-date knowledge on cross-border and other tax disputes in the coming era, and to build invaluable international connections with like-minded professionals.

Quick links:

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SMP and SME resource centre See past e-circulars
CPD programmes At-a-glance calendar
Hong Kong CPA Practice Directory Change personal information
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