HKICPA Charitable Trust

To provide timely support to the Institute’s members who are experiencing severe financial hardship and to contribute to social services and emergency relief projects in the community, the Institute established the HKICPA Trust Fund and the HKICPA Charitable Fund in 2001 and 1998 respectively. Since the inception of these funds, the Institute has made cumulative donations of nearly HK$7,000,000, benefitting over 70 non-governmental organizations and nearly 200 Institute members. The HKIAAT Trust Fund, established by the HKIAAT in 1999, also provided financial assistance to its members before it ceased to operate.

To further enhance our long-term strategic development and administrative efficiency, the HKICPA Trust Fund, HKICPA Charitable Fund and HKIAAT Trust Fund have been consolidated into the “HKICPA Charitable Trust”. This consolidated trust carries out the functions of the three previous Trust Funds, providing support to social services and emergency relief projects, and financial assistance, in particular, to members facing bereavement, old age, unemployment due to ill-health or poverty caused by accident. The consolidated trust also plays an important role in supporting education in general such as awarding scholarships to individuals who are studying the Qualification Programme (QP) offered by the Institute and taking examinations held by HKICPA. The consolidated trust also assists persons studying accountancy and finance and enhances of education.

Membership fee waiver

Where a member of the Institute is unemployed for at least six months and are experiencing severe financial hardship and in severe financial hardship, he/she may consider filing applications to the HKICPA Charitable Trust, the trustees may consider funding the annual membership fee for up to three consecutive years.

Grants and loans

To help members return to work, the Trustees will consider applications from members who have been unemployed for at least 6 months. A grant may be given on a one-off basis or in the form of monthly allowance for a designated period to successful applicants. Apart from a grant, an interest-free loan may also be offered to successful applicants under a pre-determined repayment schedule. The grant or loan offered shall be designated to help members return to work, which may include replacement laptops, mobile phones and service plans, internet service plans, clothes to present a professional image, and transport subsidies. Applicants may also request other items depending on their needs. The Trustees consider applications on a case by case basis, taking into account the circumstances of each applicant.

The amount of a grant or a loan and the period designated for monthly grants or loan repayments will be determined by the Trustees according to individual circumstances. The period designated for monthly grants or loan repayments schedules will not exceed two years. Loans will only be considered by the Trustees where there is a reasonable likelihood of repayment. Loans will be evidenced in written form.

Applications

Completed application forms for financial assistance towards payment of the Institute's annual subscription fees must be returned to the administrator of the HKICPA Charitable Trust prior to the payment due date of the subscription year. The Trustees' decision to approve or reject an application for assistance shall be final. Trustees consider each application on its merit and they have the absolute discretion to approve or reject an application. Applicants will only be informed of the decision of the Trustees.

(i)   Application for financial assistance towards payment of the Institute's annual membership fees where the applicant is unemployed up to three years. 

(ii)  Application for financial assistance towards payment of the Institute's annual membership fees where the applicant is unemployed as a result of ill-health. 

(iii) Application for grants or loans

Donation

The HKICPA Charitable Trust is financed by donations from the Institute's members and the public, as well as revenue generated from rebates received by the Institute on expenditures made through the Institute's affinity credit cards. The fund also received a donation from the HKIAAT Trust Fund before its dissolution. Your donation, regardless of amount, is valuable. Please fill out the donation form and return it with a cheque to the Institute. Tax-deductible receipts will be issued for donations of HK$100 or above. 

 For further information about the HKICPA Charitable Trust or its reliefs and assistance, please contact administrator of the Charitable Trust, on 2287-7216.