Your quarterly news for CFOs and members working in business (22 July 2024)

The Institute’s latest sustainability initiatives

Launching the Sustainability Capacity Building Framework

We're excited to introduce the 1-2-7 Sustainability Capacity Building Framework – a meticulously crafted holistic approach that incorporates key principles of IFRS S1 and S2. The framework equips you with the necessary knowledge to address the challenges of the new era in sustainability reporting. Explore the dedicated webpage to learn more.

Beyond the framework, we're also launching the revamped Sustainability Information Center and the HKICPA Sustainability Community.

Enhancements to the Sustainability Information Centre

The revamped Sustainability Information Centre (formerly known as ESG Information Centre) has been launched as part of our ongoing commitment to supporting sustainability and capacity building.

Users will be able to obtain the latest sustainability-related information in a more user-friendly manner, as well as gain easy access to our sustainability-related trainings and webinars, including the newly launched 1-2-7 Sustainability Capacity Building Framework.

Introducing the HKICPA Sustainability Community

The Sustainability Community is a dedicated hub for individuals and organizations from diverse backgrounds, extending beyond CPAs, who specialize in and are passionate about sustainability.

The primary objectives are to facilitate connections between like-minded professionals, provide comprehensive insights into sustainability trends and regulations, foster inspiration and knowledge sharing, drive collective efforts in sustainability practices and climate action, and offer valuable networking opportunities with esteemed sustainability leaders.

Join the Sustainability Community today.

Best Corporate Governance and ESG Awards open for entries

The Institute is proud to launch the Best Corporate Governance and ESG Awards 2024.

The Awards continue to reflect the importance of both good corporate governance (CG) and environmental, social and governance (ESG) reporting and practices for listed companies (companies) and public sector / not-for-profit organizations (PSOs), and their investors and stakeholders. They encourage companies and PSOs to achieve high standards of CG and ESG and, as far as possible, to integrate good CG and ESG into their values, strategy and operations.

Read the judging criteria and application process in the brochure. Participation is free, and there are numerous opportunities for recognition and to enhance your organization’s reputation. Submit your application by 9 August.

Discover your influence – Nurturing our future accounting professionals

Authorized Employers (AE) and Authorized Supervisors (AS) are organizations and individuals accredited by the Institute to provide QP students with a quality training and work environment to acquire relevant practical experience for HKICPA membership admission. Becoming an AE or AS places your organization among prestigious firms, enabling you to attract top talents and develop employees.

Register as an AE or AS now.

Become a member of a specialist interest group

The Institute’s specialist interest groups (IGs) offer a platform for members to connect with peers in a similar arena and participate in relevant events. The groups provide extensive updates and engaging activities. Membership to the IGs is absolutely free. Explore our diverse selection of groups and become a member today.

News and updates

HKIMR publishes two new Applied Research reports on DeFi and metaverse

The Hong Kong Institute for Monetary and Financial Research (HKIMR), the research arm of the Hong Kong Academy of Finance (AoF), released two new Applied Research reports, titled Decentralised Finance: Current Landscape and Regulatory Developments and The Metaverse: Opportunities and Challenges for the Financial Services Industry on 25 June.

The reports explore two frontier technologies, decentralized finance (DeFi) and the metaverse, providing an in-depth analysis on these technologies and their uses in the financial services industry, as well as an overview of the regulatory landscape internationally and in Hong Kong.

New report from IFAC, ICAEW, and Basel Institute on Governance urges anti-corruption actions

The International Federation of Accountants (IFAC), the Institute of Chartered Accountants in England and Wales (ICAEW), and the Basel Institute on Governance published a joint report titled Integrated Mindset in Practice: Professional Accountants in Business and Anti-Corruption Compliance, to offer practical guidance and actionable strategies to approach anti-corruption initiatives with an integrated mindset, resulting in long-term value creation.

The approach of an “integrated mindset”, as highlighted in the report, encourages company leadership to view financial and sustainability data in an interconnected, holistic way.

Joint MBIG & FSIG cocktail reception: Regulatory investigation of and enforcement against listed companies and their officers between Mainland China and Hong Kong – Principles and case studies

A cocktail reception jointly presented by Mainland Business Interest Group (MBIG) and Financial Services Interest Group (FSIG) was successfully held in the evening of 10 July.

Our esteemed guest speaker, Jimmy Chan, formerly Director of Enforcement and Head of International and Policy of Securities and Futures Commission (SFC) and currently Partner and Head of Financial Regulation, Jingtian & Gongcheng, shared his extensive knowledge and insights garnered from handling securities regulatory investigations for over 20 years. His presentation covered a wide range of topics, including brief overview of HKEX’s enforcement proceedings, recent trends in SFC enforcement, actions taken against listed companies and directors, types of enforcement proceedings and sanctions, strategies for dealing with SFC investigations, issues around secrecy obligations and handling cross-border investigations.

Join our specialist interest groups to learn more about upcoming events, and be part of our thriving professional community.

Upcoming events and activities

ESG workshop on sustainability governance and risk management

Don't miss this workshop on 23 July, where expert speakers from Ernst & Young will guide participants through the development of mitigation plans and internal controls for sustainability-related risks. You will also learn best practices for the disclosure of sustainability governance and risk management within your organization. Eligible applicants may claim up to 80% of the reimbursable fees, while full-time students may claim up to 100% of the reimbursable fees.

Workshop: Countdown to HKEX's new climate disclosure requirements

Join this live-only workshop on 8 August to equip your organization with the latest insights on HKEX's enhanced climate-related disclosures. The event will explore the revised HKEX climate disclosure requirements in detail, using case studies. Key highlights include practical application and implementation reliefs, and considerations for better preparation.

PAIB Live AMA 你問我答

The series “PAIB Live AMA” offers a platform for engaging discussions and lively exchanges among PAIBs. Visit our designated webpage to find out more about the upcoming episode and catch up on any discussions you might have missed through archive episodes. Learn from seasoned speakers in a relaxed and casual format.

Don’t miss the following on demand online courses as well:

Joint FSIG-PICIG e-Seminar: The impact of the metaverse on real estate investment and development (archived webinar)

GPSSG e-Seminar: Value for money audit – Enhancing public sector performance and accountability (archived webinar)

GPSSG e-Seminar: Transforming higher education certificate verification: A closer look at the ACVP blockchain project (archived webinar)

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

6 takeaways from the CFO leadership council’s spring conference from CFO.com
Why your company needs to rethink its purpose to acquire loyal customers – and drive more sales from Entrepreneur.com
Working for a new boss: how to navigate the change from Financial Management
How AI can drive a proactive approach to corporate finance from Journal of Accountancy

Tax articles

If you require any technical assistance on this transmission, please contact the IT section at 2287-7800 or itsupport@hkicpa.org.hk.

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.

This email together with the file(s) transmitted is intended solely for addressee(s) only and may contain confidential or privileged information. If you received this email in error, please contact the sender and delete it together with its attachment(s) from your computer(s). You should note that the views expressed in this email are those of the author and do not necessarily represent those of the Institute. The recipient should check this email and all attachments for the presence of virus. The Institute will not accept liability for any damage caused by any viruses transmitted with this email.

Manage communication preferences | Privacy policy | Personal information | Contact us