HONG KONG INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS
Membership Details for the Year 2025
Banking Regulatory Advisory Panel
| Objective |
The Banking Regulatory Advisory Panel (“Advisory Panel”) is grouped under the auspices of the Auditing and Assurance Standards Committee (“AASC”) to develop
and update practice notes and other guidance to members on the banking industry related matters. |
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| Composition |
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The Advisory Panel reports to the AASC. Members include representatives from the industry and subject experts from firms. The Advisory Panel consists of six to eight
members who collectively possess the following skillsets:
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| (a) |
have practical experience and direct knowledge of financial and regulatory reporting in the banking industry; and |
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| (b) |
be knowledgeable on the latest development of relevant legislation and regulations. |
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Terms of Reference
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| 1. |
To advise if the following affect the interests of members and the profession:
| (a) |
matters related to the Banking Ordinance; and |
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| (b) |
rules and regulations issued by the banking industry regulator, namely, the
Hong Kong Monetary Authority (“HKMA”). |
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| 2. |
To review and comment on consultative papers, existing and proposed banking legislation and regulations which affect the interests of members and the
profession. |
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| 3. |
To provide support to the Financial Reporting Standards Committee, AASC and the Ethics Committee in developing and updating accounting, assurance and
ethics standards and guidance/ practice notes to members on banking related matters including: |
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| (a) |
reviewing and commenting on related exposure drafts issued by the Institute or other professional bodies (e.g. International Accounting Standards Board (IASB) or International Federation of Accountants (IFAC) etc.); and |
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| (b) |
updating practice notes, where appropriate, based on the latest development of the standards and industry practice. |
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| 4. |
To attend meetings with the Institute, the HKMA, the Hong Kong Association of Banks and other professional bodies on ad hoc accounting and assurance matters specific to the banking industry. |
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| 5. |
To act as the liaison between the Institute and the HKMA on banking matters. |
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| 6. |
To contribute to the activities of the Institute by taking up the role of leader, forum chair and/ or article writer for designated banking related matters or projects. |
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