This month at the Institute (24 June 2021)

Members’ Forum with the FSTB on "Further reform of regulatory regime of accounting profession"

On 8 June the Secretary for Financial Services and the Treasury published a blog post “Further reform of regulatory regime of accounting profession” on the Financial Services and the Treasury Bureau’s (FSTB) website.

The proposals will see the Financial Reporting Council’s (FRC) investigation and disciplinary powers to be expanded to cover all CPAs and practice units and its inspection power to cover all practice units. The registration of practice units and PIE auditors, and the issuance of practising certificates will also be vested with FRC.

As well as the forum announced in our email on Monday on 28 June, where representatives from the FSTB will explain the proposals, a second forum will be held with the FRC.

Register for the forum with the FSTB now to learn more and ask questions about the proposals. Registration for the second forum will open next week.

New publication

A Plus – Special report on the work and skills of CPAs working in IPO advisory

The May issue of A Plus looks at the wide range of skills and expertise required from CPAs working in IPO advisory, and what needs to be done to successfully take a company public. Other articles include interviews with Terence Chow, Chief Executive Officer, Asia, RBC Wealth Management; Gilbert Chan CPA, Managing Director and Co-founder of Giraffe Capital Limited; and CPA table tennis players.

Institute updates

Minutes of Council meetings

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

CPA Virtual Run 2021 – Event Highlights

Photo highlights from the CPA Virtual Run 2021 are now available. Check out the prize presentation ceremony and photos of CPA runners in action.

Industry updates

Gazettal of new inspection regime for the Companies Register

On 18 June, the Government gazetted the updates to the Companies Ordinance introducing the new inspection regime for the Companies Register.

Under the new regime, directors’ correspondence addresses and partial identification numbers will be available for public searches of the register. Only “specified persons” will be able to access the usual residential addresses and full identification numbers.

Practising accountants, liquidators and bankruptcy trustees are among the “specified persons” able to access the protected information.

The Institute issued a Financial Reporting, Auditing and Ethics Alert on the new regime yesterday. Read the press release and blog post from the Financial Services and the Treasury Bureau for more information about the changes, which become effective in three phases beginning in August.

REO 2021 special voter registration

Under the Improving Electoral System Ordinance 2021, there are major changes to the composition of the Election Committee (EC), EC Subsectors and Legislative Council functional constituencies (FC). For members who are eligible to be registered as a voter in an EC subsector and/or an elector in a FC, please submit an application to the Registration and Electoral Office (REO) before 5 July.

Install the HKICPA Events app

Disclaimer: Some sections contain information from outside sources. We endeavour to link to reputable sources but the Institute is not responsible for the accuracy of the content and the content does not necessarily represent the views of the Institute.

This email together with the file(s) transmitted is intended solely for addressee(s) only and may contain confidential or privileged information. If you received this email in error, please contact the sender and delete it together with its attachment(s) from your computer(s). You should note that the views expressed in this email are those of the author and do not necessarily represent those of the Institute. The recipient should check this email and all attachments for the presence of virus. The Institute will not accept liability for any damage caused by any viruses transmitted with this email.

Manage communication preferences | Privacy policy | Personal information | Contact us