Introduction
The Institute’s Council has undertaken the annual review of strategy and is pleased to share the considerations, updates and realignments that have contributed to the finalization and issue of the Strategic Plan 2025. At the overarching level the Vision, Mission and Values (VMV) were reviewed. After taking into account the updates to VMV in 2024 and again comparing the current VMV with those of our counterparty institutes it was concluded that the VMV remain relevant and that no further refinement is necessary this year.
The strategic direction of the last three years was focusing on repositioning of the Institute following the further regulatory reform in 2022. With the period of transition and evolution having now largely passed it was considered appropriate to realign the strategic themes that shape the Institute’s Strategy reflecting the current market needs and demands of the accounting profession, and articulate our value proposition to members and public at large towards the development of the profession and Hong Kong.
For 2025 the Council has considered how to keep the Strategic Plan relevant and dynamic and decided to realign the existing seven strategic areas adopted since 2022 into three strategic themes under the heading of “Building Trust”, “Nurturing Talent” and “Driving Development & Transformation” and three areas of HKICPA’s work, namely QP, CPD and Standard Setting. These are three core areas of the Institutes work that fall across all three themes but from year to year, depending on the focus of particular projects and work streams, may lean more into one theme than another.
To support this approach an exercise had been carried out to demonstrate that all key elements of the existing seven strategic areas that remain relevant are embedded under the three new strategic themes that are premised around elevating the Institute’s contribution to the sustainable future of the profession and Hong Kong as an international financial centre. This exercise also showed that all existing key member engagement and development related initiatives are covered under the strategic themes and that the Institute would continue its focus on delivering value to members and engaging members in various sectors.
The challenges and circumstances that were considered in determining the strategic themes can be summarized as below:
| Diminishing member value | Heightened regulatory scrutiny |
| Increased media scrutiny |
Loss of trust in certain jurisdictions |
| Pressing need for international presence | Evolving workforce dynamics |
| Talent shortage & lack of appeal to younger generations | Limited resources for transformation |
| Disruption from emerging technologies | Increasing environmental stress |
| Non-CPA involvement in sustainability assurance | New requirements in sustainability |
The following 12 focus areas have been identified, under which a number of key actions have been defined to contribute to the goal of addressing and achieving the aims of the strategic themes.
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Read the pdf version of the Strategic Plan 2025 here.
