This month at the Institute (28 January 2021)

New committee appointments

The appointments to the new term of the Institute’s committees, panels and working groups to support the activities of the Council have been finalized. Learn about the various committees and their composition for the year ahead.

The Institute has established a new Task Force on Legal and Compliance for Accountants to consider challenges faced by members relating to certain legal and compliance matters, and to propose ways that the Institute can help members navigate them.

Blessings for the year of the ox

The Institute wishes you and your family, friends and colleagues a prosperous and fruitful year of the ox. Visit the celebration webpage now to watch season greeting videos featuring the President; Council members, and chairmen and deputy chairmen from of some of the Institute’s committees; and download some e-fai chun and seasonal animated stickers for WhatsApp and Signal.

QP December 2020 examinations held successfully

The Institute successfully held the final offerings of the Module Examinations of the current Qualification Programme (QP) on 28 and 29 December 2020 amid the COVID-19 pandemic. Together with the Final Examination held in November, the entire December 2020 Session of the QP has been completed. Preparation for the first offering of the Professional Level of the new QP continues ahead of the June 2021 examination session. Learn more about the new QP here.

New publications

COVID-19 disclosures by listed companies: A research study

A Plus – Road to success

The Institute published a new report on corporate disclosures in relation to the COVID-19 pandemic, undertaken alongside the Best Corporate Governance Awards. The report reviews how Hong Kong listed companies with 31 March 2020 year ends communicated the impact of COVID-19 in their annual reports and additional disclosures. It also makes recommendations for how companies should improve their disclosures.

The December issue of A Plus features Ellis Cheng, Chief Financial Officer of Kerry Logistics Network Limited, on what it takes to take a logistics company global. Other articles include the final in the series on the Best Corporate Governance Awards 20th anniversary on how winners will continue to enhance corporate governance practices in the future; speakers of the PAIB Virtual Conference 2020 discussing how their organizations were responding to the COVID-19 crisis; and interviews with Jacky Lai, Assurance Partner at EY; and CPAs who volunteer at NGOs.

New Alert issued: Financial reporting considerations to close out 2020

The Institute’s latest Alert (Issue 37) is designed for reporting periods ended on or after 31 December 2020. It focuses on financial reporting issues that may be relevant in the current challenging environment, and highlights changes in financial reporting standards of which to be aware.

Budget proposals: Preparing for the recovery

The Institute released its budget proposals for the government's 2021-22 budget. The proposals include 21 different measures to prepare for the recovery. Recommendations include enhancing public finance and taxation, helping citizens and businesses to adapt to the “new normal” through more extensive digital transformation, as well as environmental measures to improve the local environment and citizens’ well-being. Click here for the press release and proposals.

Institute updates

HKICPA Events mobile app survey

The Institute is conducting a survey of members who are users of the HKICPA Events app, to understand how to improve it and create more value for members.

The survey responses will be analysed and a report prepared, which will be used to help determine future improvements to the app. App users will have received an invitation email, and a link can also be found in the app.

Minutes of the 48th AGM

The minutes from the Institute's 48th annual general meeting (AGM) held on 10 December 2020 are now available for members to read. Click here and login to your account to view them.

Minutes of Council meetings

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

Industry updates

Building a Better Future – The Roles of the Accounting Community Report

The Prince’s Accounting for Sustainability Project’s Accounting Bodies Network – of which the Institute is a member – has released a report that looks at how the accounting community are responding to COVID-19. The report details the bodies' immediate response to the pandemic by exploring insights and highlighting key examples. It then moves on to explore the actions bodies will take in order to reset and rebuild a more sustainable economy. It sits alongside a report setting out recommendations for actions that chief financial officers and others from across the finance and accounting community can take to build back better, drawing on lessons from the pandemic response.

Install the HKICPA Events app

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