Issue No. 134 (January 2023)

CPA Insights

Financing the Future

Kaiser Wan, vice president of a major Chinese investment bank shares how the QP has equipped him with skillsets that have been the key to his path in the investment banking industry.

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Tech Source

Tax appeal in Hong Kong

In Hong Kong, the profits tax assessment is prepared by the Inland Revenue Department. The business may raise an objection and/ or appeal if they do not agree with the resulting profits tax assessment. This article gives you some general information on the tax appeal process in Hong Kong.

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Student Matters

HKICPA – Preeminent body of top-tier certified public accountants

Stepping into its 50th anniversary with almost 48,000 members and over 14,000 registered students among its ranks, the Hong Kong Institute of Certified Public Accountants (the Institute) is the only statutory body for the registration of certified public accountants in Hong Kong and has a long and distinguished history of cultivating top talent in the industry. Established in 1973 under the Professional Accountants Ordinance, the Institute and its storied Qualification Programme (QP) represent a well-travelled path to a career of excellence.

Beyond opening the door to a wide range of career options, the Institute provides unrivaled access to top-tier overseas accountancy bodies through recognition agreements in which our members are eligible for full or partial exemption for membership admission. In particular, the Institute’s members are offered the best preferential treatment from the Chinese Institute of Certified Public Accountants (CICPA) to become a CICPA member. Our members are exempted from four out of six papers of the CICPA exam and need only pass the tax and law papers to become CICPA members.

Don’t hesitate and kick-start your journey today to obtain this prestigious qualification synonymous with success and prestige. Apply for registration as a QP student now!

Practical experience

The Institute’s revised Practical Experience Framework (PEF) has been launched in December 2022. The changes allow for more flexibility in acquiring your practical working experience and enable transparent communication with your Authorized Employer/ Authorized Supervisor via the brand new online system for tracking your development progress to become a CPA.

If you have become a registered QP student on or after 1 January 2023, you should obtain the appropriate type and level of practical experience under the requirements of the revised PEF, and use the online system to record your development progress for professional competence. Please click here for key information on the revised PEF and related supporting tools including the PEF Support Manual, learning videos, the FAQ, and more.

For those registered as QP students who have started accumulating practical experience before 1 January 2023, you can continue to attain the practical experience under the previous framework within the three-year transitional period. Please click here for more details.

We would also like to welcome three Authorized Employers and ten Authorized Supervisors to the PEF. For students who have already completed the QP and obtained sufficient practical experience for membership admission, please submit your membership applications on or before 13 March 2023.

Event Highlight

Calling all Standard Chartered Hong Kong Marathon runners!

If you have successfully registered for the Standard Chartered Hong Kong Marathon on 12 February 2023 and are interested in competing with other QP student runners, join the Institute’s CPA Marathon Competition now. Simply provide your marathon race information with us by 20 January 2023 for registration and put forward your marathon results after the race according to details announced on a later date.

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.

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