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Your quarterly news for CFOs and members working in business (17 October 2024)
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IT Conference 2024: Innovation through New Intelligence – Harnessing AI to Revolutionize Accounting Practices
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The IT Conference 2024 is just around the corner! As one of the Institute’s flagship events, we are pleased to announce that this year's conference will mark the return to an in-person format, reviving the cherished tradition last experienced in 2019. Join the industry leaders and professionals to delve into the transformative potential of AI in reshaping the accounting profession.
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Saturday, 9 November 2024
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9:00 a.m. – 1:00 p.m.
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Ballroom, The Ritz-Carlton, Hong Kong
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- Expert speakers: Hear from leading professionals at the Digital Policy Office and the Office of the Privacy Commissioner for Personal Data.
- Practical insights: Explore the latest government initiatives in AI adoption, and learn from distinguished speakers about their organizations' digitalization journeys and present practical use cases of AI in auditing and accounting.
- Innovative solutions: Engage with start-ups showcasing their innovative AI solutions in a panel discussion.
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Special offer – Members can take advantage of the early bird discount available for a limited time! Register now to secure your savings and ensure your spot at this insightful event. Plus, you will earn 3.5 CPD hours that count towards your professional requirements.
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Members’ Forum and networking reception
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Over 200 members attended the event on 20 September, where our leadership team shared insights on the Institute’s recent developments, strategic focuses, and upcoming initiatives, followed by a more relaxed networking reception.
The evening, part of the Institute’s ongoing efforts to boost member communications, foster collaboration, and support professional advancement, provided a valuable platform for direct engagement between members and the Council and management team.
Check out the photo album for snapshots of the event.
If you missed it, don’t worry! The archived session of the forum will soon be available to all members. Stay tuned!
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HKEX Listed Issuer Regulation Newsletter
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Hong Kong Exchanges and Clearing Limited (HKEX) has published its bi-annual Listed Issuer Regulation Newsletter, highlighting various key topics, including the new treasury share regime, guidance on preparing spin-off proposals, climate-related disclosure requirements in ESG reports, advancements in technology initiatives, guidance on rights issues within the paperless listing regime, updates on board diversity progress, reminders for timely financial reporting, and protocols for handling presentation materials during external meetings.
Members who are preparers of financial statements for listed entities are encouraged to read the newsletter and follow HKEX guidance to improve annual report disclosure to enhance transparency to stakeholders.
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Become a member of a specialist interest group
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The Institute’s specialist interest group (IGs) offer a platform for members to connect with peers in a similar fields and participate in relevant events, and membership to the IGs is absolutely free.
We are excited to announce the formation of the Government and Public Sector Interest Group (GPSIG)! This group serves as a platform for members working in the government and public sector to connect and share insights on common interests. We invite members to enrol in GPSIG to take part in engaging activities, discussions, and networking opportunities that will enhance your experience in this field.
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The new era of ethical challenges for professional accountants
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ACCA recently published a report highlighting the growing complexity of ethical dilemmas in the accounting profession.
The findings reveal that over half of accountants have witnessed unethical behavior during their careers, with about one-fourth of them reporting pressure to act unethically in the last three years.
Respondents were asked to identify their top three areas of ethical challenges over the past three years, with leadership and culture, AI and technology, and sustainability emerging as the most prominent issues.
The research also underscores critical areas for senior leadership to prioritize, including mental health and well-being, professional competence and continuous learning, technology and data ethics, ethical leadership and governance, diversity, equity, and inclusion, and sustainability reporting.
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Accounting for a Better World: Insights from IFAC’s Professional Accountants in Business Advisory Group
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The International Federation of Accountants (IFAC) has published an article providing a comprehensive overview of the discussions held during the Professional Accountants in Business (PAIB) Advisory Group meeting in March 2024.
Themed "Accounting for a Better World," the discussions emphasized the pivotal role of accountancy and finance professionals in fostering economic growth and sustainability across the continent. The article identifies five key areas where the profession can make a significant impact:
- building capital market efficiency and transparency through high-quality information and reporting,
- unleashing sustainable financing,
- greater regional integration,
- enabling business and entrepreneurial growth, and
- transforming public sector decision making.
Read the full article for further details.
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Upcoming events and activities
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Young Members Virtual Conference 2024 – Resilience and Innovation: Opportunities in Family Offices and Artificial Intelligence
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Join the virtual conference on 19 October, where we bring together a distinguished panel of speakers who will share their insights and expertise on the latest industry trends, empowering young CPAs to navigate family office and AI initiatives effectively.
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ESG workshops
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Don't miss out the chance to join the following sustainability-focused workshops, supported by the Hong Kong SAR Government's Pilot Green and Sustainable Finance Capacity Building Support Scheme. Eligible applicants may claim up to 80% of the reimbursable fees.
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(i) ESG workshop on reporting and assurance
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This workshop will be held on 24 October. Speakers will cover ESG reporting on framework and development, principles and key steps, as well as common challenges faced in ESG and financial reporting. An overview of ESG data assurance will also be presented, focusing on the types, scope and market practices, values, and the steps towards implementing ESG data assurance.
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(ii) ESG workshop on decarbonization strategy
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This workshop will be held on 29 November. Speakers will introduce decarbonizationand explore how to determine decarbonization ambition, including target setting and identifying decarbonization opportunities. They will also discuss monitoring and reporting decarbonization efforts.
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Technology & Innovation Series: iAM Smart and Corp ID: Two key digital infrastructures for driving smart city development
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The Institute proudly launches the “Technology & Innovation Series”, designed to help our members embrace technology and effectively navigate the evolving technology landscape. This initiative aims to enhance members’ capacity and efficiency in both management and operational aspects of digital transformation.
Kicking off this series is a seminar on iAM Smart and Corp ID: Two key digital infrastructures for driving smart city development.
Join the seminar on 30 October to explore how these initiatives enhance the operational efficiency of CPAs, by leveraging digital identities of individuals and corporations as a reliable and trusted source of information for conducting customer identity authentication and customer due diligence, and more. Digital Policy Office representatives will also be available to assist participants with registration at a designated booth.
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Ethics webinar: Technology-related Revisions to the Code
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Join the webinar on 13 November, where we will explore the new Technology-related Revisions to the Code of Ethics and how the changes strengthen the Code in guiding professional accountants in an era of rapidly evolving technology.
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PAIB Live AMA 你問我答
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The series “PAIB Live AMA” offers a platform for engaging discussions and lively exchanges among Professional Accountants in Business (PAIBs). This series allows participants to learn from seasoned speakers in a relaxed and casual format. Visit our designated webpage to find out more about the upcoming episode and catch up on any discussions you may have missed through archived episodes.
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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)
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If you have suggestions on specific topics or speakers for future PAIB events, please let us know at paib@hkicpa.org.hk.
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The following articles and publications may be of your interest:
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Business articles
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Tax articles
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