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This month at the Institute (April 2023)
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Strategic Plan 2023
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The Institute’s Strategic Plan 2023 has been published, laying out the direction and goals for our organization over the next year, and reflecting our commitment to championing the accounting profession in Hong Kong and beyond.
The plan was developed and refined after vigorous efforts to review the Institute’s progress as well as taking into consideration the latest opportunities and challenges with members’ best interests in mind. By focusing on major objectives such as contributing to the city’s sustainability journey, cultivating internationally recognized talent, building a positive image for the profession, as well as facilitating opportunities in the GBA, the plan provides a platform for the Institute to forge a new path together with our members
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Monitoring of members' CPD compliance
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The Institute undertakes continuing professional development (CPD) compliance audit annually to ensure good faith compliance. Members selected for CPD compliance audit must submit their CPD records and supporting documents for verification. Failure to complete the CPD compliance audit may result in removal from the Institute’s membership. Learn more about CPD compliance audit exercise and find other FAQs on CPD here.
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President meet-the-media session – Luncheon
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Institute’s President Loretta Fong hosted a luncheon on 13 April to meet with ten senior reporters from local mainstream media outlets to share the details of the Institute’s 50th Anniversary signature celebration events and key initiatives under the “Strategic Plan 2023”.
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Valuation Discussion Forum
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Understanding insolvency with practical measures
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The Valuation Discussion Forum on 28 April aims to raise general awareness about the importance of quality valuation. Seasoned speakers from diverse backgrounds including regulators, PAIP, PAIB and valuers will share practical experience from their perspectives to facilitate an exchange from different angles. Register now to join the forum in face-to-face or webinar format.
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Starting on 13 May, the Institute's Insolvency Preparatory II webinar offers an in-depth and integrated study of the financial, management, legal and accounting aspects administration with emphasis on practical application. Enrollment is now open on a first-come-first-served basis until 8 May.
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Free well-being webinar – Yellow Emperor's Canon of Internal Medicine and traditional Chinese medicine on health preservation and dietetics
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Join the free webinar on 24 May if you are interested in traditional Chinese medicine and its approach to health and well-being. The Yellow Emperor's Canon of Internal Medicine is a foundational text in traditional Chinese medicine. Come hear the speaker share about the principles of traditional Chinese medicine, including the concept of qi (vital energy), the theory of yin and yang, and the five elements. The webinar also covers topics such as the diagnosis and treatment of illnesses, the importance of preventive medicine, and the role of diet and lifestyle in maintaining health.
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The Institute, in partnership with The Institute of Internal Auditors, is pleased to offer the 2023 CIA Challenge Exam – a fast track to attain the globally recognized Certified Internal Auditor (CIA) designation. Application period ends 30 April. Click here for details.
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Subscription to study materials of 2023 PRC CPA Uniform Examination
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The study materials of 2023 PRC CPA Uniform Examination are available for subscription now. Click here for further details and submit your subscription by 17 May.
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Participation in HKMA's Kiddie-Family Moneyland Programme
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The Kiddie-Family Moneyland Programme organized by the Hong Kong Monetary Authority (HKMA) has resumed starting from April after being Interrupted by the prolonged pandemic. The programme aims to disseminate “proper and responsible” money management value to pre-school institutions and nurture the children, as well as their families. The Institute’s Accountant Ambassadors are invited to participate in the parents’ talk as guest speakers to share on money management and family budgeting. Visit the HKMA’s website for the programme details.
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Reminder: CA ANZ special admission fee waiver for HKICPA members
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Don’t miss the chance to apply for membership with Chartered Accountants Australia and New Zealand (CA ANZ) as a second qualification through the Global Accounting Alliance special admission pathway, and enjoy a special admission fee waiver for the period from now until 30 June. If you are interested in applying, click here for further details and submission.
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Latest offers of merchandise discounts
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Enjoy exclusive offers and discounts from our Merchandise Discount Programme. Upon purchase please present valid HKICPA membership card. Below are some of our latest offers:
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Additional 32% off on Canadian wine products
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Special discounts on SME report generation tool & AI translation platform
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Sports and recreational events
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CPA Sports Carnival 2023
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For the very first time, the Institute is going to co-host the CPA Sports Carnival 2023 with The Society of Chinese Accountants & Auditors on 7 May at Siu Sai Wan Sports Ground. Themed “Happy 香港 • 活力 CPA”, the event aims at providing an occasion for professional accountants to communicate and interact with each other through engaging in different sports activities and to share the benefits of exercise. Bring your kids and family for a fun time at the Carnival where fun booths will also be available.
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CPA Marathon Competition 2023
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Dragon boat representative team recruitment
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Congratulation to the winners of the CPA Marathon Competition! Their achievements in this year’s Standard Chartered Hong Kong Marathon will be recognized at the prize presentation ceremony on 24 April. All CPA runners are also invited to attend the ceremony and share your running experiences.
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The Dragon Boat Interest Group is recruiting team members to represent the Institute for the 2023 season. Experienced paddlers are welcome to join. Click here for more information and submit your online registration by 30 April.
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Other upcoming activities
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Electronic filing of Profits Tax
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Ushering in the new era of profits tax filing, all corporations and businesses can voluntarily e-file tax returns under eTAX for year of assessment 2022/23. Particular attention should be paid to the following updated filing requirements:
- All corporations and businesses, regardless of the amount of their gross income and the mode of return filing, must submit profits tax return together with all supporting documents.
- At the same time, all relevant supplementary forms and other forms required must be e-filed under eTAX.
- If a taxpayer chooses not to e-file the return, the taxpayer has to print and sign a paper Control List for the required forms e-filed and then furnish the signed Control List together with tax return and supporting documents in paper form.
Learn more about the new features and requirements in the letter to Tax Faulty members or at the Inland Revenue Department (IRD)’s website.
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Electronic filing of Employer’s Return
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Employer’s Returns of Remuneration and Pensions (Form BIR56A) for the year ended 31 March 2023 were issued on 3 April. Employers are required to complete and file the return to the IRD within one month together with the Form IR56B for reporting of remuneration paid to the employees.
Employers can file the employer’s returns on-line through the e-TAX platform. The IR56 Forms Preparation Tool can be used to prepare the data file of annual Form IR56B for uploading to the IRD via the online mode or the mixed mode. To facilitate employers submitting the data file via the mixed mode, commencing from this year, only the 1-page (i.e. Cover Page) Control List generated from the system is required to be signed and submitted by each employer, which replaces the prior requirement of signing on each and every page of the Control List. In addition, to tie in with employers in preparing early for the submission, the IR56 Forms Preparation Tool can be used to prepare the data file of annual IR56B starting from 1 March each year.
Visit the IRD’s website for details.
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2023 HKGFA-HKFSI Certificate in Green and Sustainable Finance (Third Cohort)
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The Hong Kong Green Finance Association (HKGFA) and Hong Kong Financial Services Institute (HKFSI) will be running the Certificate in Green and Sustainable Finance – Third Cohort on 6, 13 and 20 May. The course will consist of six modules, ranging from environmental, social and corporate governance, green finance policies to carbon neutrality and other aspects, to provide forward-looking green finance knowledge and hands-on experience.
As a supporting organization, Institute members can enjoy a 10% discount on enrolment fee. Participants will also receive a Certificate of Completion from the HKGFA and HKFSI if they achieve 70% attendance and complete the case study group presentation. Don’t miss this opportunity to learn about green and sustainable finance from experts in the industry and academia. Enrol by 3 May.
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Recently qualified members, join the ICAEW at a special rate
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Members who qualified through the Qualification Programme in or after 2014 can apply to join the Institute of Chartered Accountants in England and Wales (ICAEW) at a special rate. Find out more about the scheme here. Enquiries: ICAEW Hong Kong office - tel. no. 3653 7015; email candice.tang@icaew.com
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