Your quarterly news for CFOs and members working in business (20 October 2021)

The CPA Conference 2021 – Transcending together

Over 250 members attended this flagship event for the Institute on 2 October, during which the keynote speakers, Mr. Kenny Sham, Director, Head of Marketing (Hong Kong, Taiwan & Macau), The LEGO Group, and Mr. John Tsang, Founder, Esperanza, shared their insights on brand value creation and transformation and on doing business with purpose respectively.

Other prominent panelists in four thematic sessions also explored the business lessons learnt from the pandemic, the urgent need for digital transformation, the future of the finance function, as well as the evolving skill sets and the path forward for the accounting profession.

See the photo album for snapshots of the event.

E-learning of the conference is under production and will soon be available. Stay tuned.

News and updates

COSO New Guidance: Realize the Full Potential of Artificial Intelligence

The Committee of Sponsoring Organizations of the Treadway Commission (COSO), in collaboration with Deloitte, has recently issued “Realize the Full Potential of Artificial Intelligence”. This new guidance leverages the principles from COSO’s Enterprise Risk Management – Integrating with Strategy and Performance Framework (2017), and serves as a guide to help organizations align risk management with strategy and execution of their AI initiatives.

Professional accountants at the heart of sustainable organizations

ACCA has recently published a report that explores the future of the accountancy profession, examines the drivers of change shaping sustainable organizations as we look ahead, and the next decade of work for finance professionals as well as the capabilities and the skills most prized.

The research also shows that, to capitalize on new opportunities, the finance professional will need to be equipped with a number of core emerging capabilities – must-have skills and behaviours that are essential across all roles and at any career stage in the future which underpin professional competence and effective performance.

Upcoming events and activities

IT Virtual Conference: Coming out from Virtual Reality to the New Reality

At the upcoming IT Virtual Conference on 23 October, the speakers will discuss the technology validation platform, modernization of finance in the new normal, virtual/augmented reality technologies, innovative trends and best practices on the future of work, as well as moving from compliance to business advisory.

Enrol now to explore what technologies and transformation initiatives should organizations consider under the "new reality”.

Annual Accounting Update Conference 2021: You Gotta Move On

Join this year's Annual Accounting Update Conference, which will be held virtually on 13 November, during which renowned speakers will cover setting and application of financial reporting standards, future of corporate reporting, as well as other emerging issues.

FSIG webinar: Evolution of e-payment in retails and P2P

At the upcoming Financial Services Interest Group (FSIG) webinar on 16 November, the speaker will share the development of electronic payment solutions, functions and benefits of different payment solutions in Hong Kong, and the latest trend in P2P payment.

If you have suggestions on specific topics or speakers for future PAIB events, please let us know at paib@hkicpa.org.hk.

Features and articles

The following articles and publications may be of your interest:

Business articles

Your business survived the pandemic – now what? from CFO.com
How CFOs can create resilient processes from Financial Management
Executives, let stakeholders drive your strategy from Harvard Business Review
9 best practices to improve your communication skills and become a more effective leader from Entrepreneur
How to use COSO to implement and scale AI projects from Journal of Accountancy

Tax articles

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