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Seminar

TUE No. DateTopicSpeaker

401

(SESSION HELD)

13 Apr 04

New Institute Independence Pronouncements

This session will introduce the new Institute independence pronouncements (Statement 1.203A and Guidance 1.308) recently issued by the Institute to adopt Section 8 of the IFAC Code of Ethics for Professional Accountants.

Stephen Chan

402A

(SESSION HELD)

25 May 04

SME Financial Reporting Framework and Standards

This session will cover the proposed introduction of a Financial Reporting Standard for Small and Medium-sized entities in Hong Kong for periods beginning on or after 1 January 2005.

Simon Riley

402

(SESSION HELD)

18 May 04

SME Financial Reporting Framework and Standards

This session will cover the proposed introduction of a Financial Reporting Standard for Small and Medium-sized entities in Hong Kong for periods beginning on or after 1 January 2005.

Simon Riley

403

(SESSION HELD)

1 Jun 04

New Audit Risk SASs

This session will cover the new Audit Risk Standards issued by the Institute in January 2004: SAS 315 "Understanding the entity and its environment and assessing the risks of material misstatement"; SAS 330 "The auditor's procedures in response to assessed risks"; and SAS 500 "Audit evidence".

Stephen Chan

404

(SESSION HELD)

15 Jun 04

Tax Issues Relating to Source of Employment under DIPN10

This session will review the current position regarding source of employment for Salaries Tax purposes and the application of IRD’s DIPN10 in determining what constitutes a non- HK source employment and eligibility for a time claim. The IRD's current approach to time claims and the Board of Review's comments on DIPN10 will be examined, as will the impact of a non-HK source employment on the calculation of benefits such as housing and stock options.

David Southwood, Deputy Chair, the Institute Taxation Committee & Principal - Taxation Services, Grant Thornton

Peter Tisman

404A

(SESSION HELD)

29 Jun 04

Tax Issues Relating to Source of Employment under DIPN10

This session will review the current position regarding source of employment for Salaries Tax purposes and the application of IRD’s DIPN10 in determining what constitutes a non- HK source employment and eligibility for a time claim. The IRD's current approach to time claims and the Board of Review's comments on DIPN10 will be examined, as will the impact of a non-HK source employment on the calculation of benefits such as housing and stock options.

David Southwood, Deputy Chair, the Institute Taxation Committee & Principal - Taxation Services, Grant Thornton

Peter Tisman

405

(SESSION HELD)

20 July 04

Auditors Beware: New Auditing Guidance This session will cover the new Auditing Guidance for:

  • reporting on failure to account for interest on client account - audits of solicitors' accounts under the SAR and ARR (revised PN840);
  • audits of licensed corporations and associated entities of intermediaries (PN820); &
  • auditors of listed companies and the auditors' employees who are served with a direction by the SFC under s179 of the SFO to require production of audit working papers (Statement 1.307).

It will also cover the new reporting requirements for auditors under the new LegCo Election Financial Assistance Scheme.

Stephen Chan

406

(SESSION HELD)

7 Sep 04

New Hong Kong Accounting Standards

A number of new Hong Kong Accounting Standards will apply from 1 January 2005 . This session will cover the significant changes from the existing SSAPs.

Simon Riley

403A

(SESSION HELD)

27 Sep 04

New Audit Risk SASs

This re-run session will cover the new Audit Risk Standards issued by the Institute in January 2004: SAS 315 "Understanding the entity and its environment and assessing the risks of material misstatement"; SAS 330 "The auditor's procedures in response to assessed risks"; and SAS 500 "Audit evidence".

Stephen Chan

407

(SESSION HELD)

5 Oct 04

New Quality Control Standards for Auditors

This session will cover:

  • Hong Kong Standard on Quality Control 1 “Quality Control for Firms that Perform Audits and Reviews of Historical Financial Information, and Other Assurance and Related Services Engagements”; and
  • Hong Kong Standard on Auditing 220 “Quality Control for Audits of Historical Financial Information”, adopting the equivalent International Auditing Standards.
Stephen Chan

408

(SESSION HELD)

19 Oct 04

Shape up your profile and be the CPA of choice!

The Institute is launching the online recruitment portal to enable recruiters to search for the right CPAs to fill their increasing HR demand. The portal also enables companies to search for the right CPA firms to cater for their business needs. CPA Source is the official site of the Hong Kong CPAs, the first of its kind career management portal offered by the Institute as a free service to CPAs. CPA firms can also list their profile (at a nominal fee) and become searchable by business prospects globally. The session will take the audience step by step of how to complete your details online and become search-ready for the recruiters and business prospects.

Gary Wong

412

(SESSION HELD)

9 Nov 04 The Companies (Amendment) Ordinance 2004 was passed by the Legislative Council on 9 July 2004 . When it commences, the Ordinance will affect the law relating to the incorporation procedures for limited companies and oversea (non-Hong Kong) companies. It also introduces new shareholders' remedies and amends the law relating to prospectuses. This session aims to provide a brief outline of the new legislation. The main focus will be on the changes to the incorporation procedures and the new statutory derivative action available to minority shareholders. William Tsang, Member, The Institute Expert Panel on Legal Matters & Proprietor, Y. H. Tsang & Co.

Peter Tisman

410

(SESSION HELD)

23 Nov 04 Maintaining a safe and sound enterprise-wide privacy framework is key to protect your customers, your business integrity and goodwill. Learn about the components of the Privacy Framework and how CPAs can deliver best practice in Privacy Compliance to your organizations and your clients. Gary Wong

409

(SESSION HELD)

26 Oct 04

Revised Standards on Fraud Consideration and Audit Planning for Auditors

 

This session will cover:

  • Hong Kong Standard on Auditing 240 “The Auditor's Responsibility to Consider Fraud in an Audit of Financial Statements”; and
  • Hong Kong Standard on Auditing 300 “Planning an Audit of Financial Statements”, adopting the equivalent International Auditing Standards.
Stephen Chan

411

(SESSION HELD)

30 Nov 04

New Hong Kong Auditing, Assurance and Related Services Standards

 

This session will cover:

  • proposed new Preface to Hong Kong Standards on Quality Control, Auditing, Assurance and Related Services; and
  • the Institute 's IAASB Pronouncements Convergence Project which aims to converge the Institute 's Auditing Standards with International Auditing Standards.
Stephen Chan

407A

(SESSION HELD)

7 Dec 04

New Quality Control Standards for Auditors

 

This re-run session will cover the following 2 important Auditing Standards issued recently by the Institute:

  • Hong Kong Standard on Quality Control 1 “Quality Control for Firms that Perform Audits and Reviews of Historical Financial Information, and Other Assurance and Related Services Engagements”; and
  • Hong Kong Standard on Auditing 220 “Quality Control for Audits of Historical Financial Information”,

 

adopting the equivalent International Auditing Standards.

 

Whilst quality control policies and procedures are not new to the accounting profession, these two Standards introduce several new concepts and requirements, including the extension of certain aspects to “other assurance and related services engagements”. Certain of the new requirements will have far reaching implications and necessitate more rigorous quality control policies and procedures being implemented by auditors.

 

Auditors should start to make a critical assessment of their existing quality control policies and procedures and audit documentation to see whether they are sufficient to comply with the systems of quality controls under HKSQC 1 which are required to be set up by 15 June 2005, and in terms of HKSA 220, quality controls over audits of historical financial information which are required to be set up for periods beginning on or after 15 June 2005.

Stephen Chan

409A

(SESSION HELD)

14 Dec 04

Revised Standards on Fraud Consideration and Audit Planning for Auditors

 

This re-run session will cover the following 2 important Auditing Standards of the Institute:

  • recently issued Hong Kong Standard on Auditing 240 “The Auditor's Responsibility to Consider Fraud in an Audit of Financial Statements”; and
  • soon to be issued Hong Kong Standard on Auditing 300 “Planning an Audit of Financial Statements”,

 

adopting the equivalent International Auditing Standards.

 

Auditors will enter a much expanded arena of procedures to detect fraud as they implement HKSA 240. The revised Standard aims to have the auditors' consideration of fraud blended into the audit process and continually updated until the audit's completion. HKSA 240 describes a process in which the auditors (1) gather information needed to identify risks of material misstatement due to fraud, (2) assess these risks after taking into account an evaluation of the entity's programs and controls and (3) respond to the results. Under HKSA 240, auditors will gather and consider much more information to assess fraud risks than they have in the past.

 

HKSA 300 requires the auditors to plan the audit more rigorously so that the engagement will be performed in an effective manner. Auditors are required to establish an overall audit strategy which helps guide the development of the more detailed audit plan and ensures that risk assessment procedures and further detailed audit procedures are appropriately targeted. HKSA 300 provides the necessary requirements and guidance for the auditors to perform this important aspect of the audit and will assist in improving auditors' performance.

Stephen Chan

501
(Re-run)

(SESSION HELD)

10 Jan 05

New Audit Risk Standards Introduce Risk-Based Audit Approach

  • HKSA 315, "Understanding of the Entity and Its Environment and Assessing the Risks of Material Misstatement "
  • HKSA 330, "The Auditor’s Procedures in Response to Assessed Risks"
  • HKSA 500, "Audit Evidence"

This re-run session will explain how these new Standards will affect the way auditors conduct their audits.

  • The new Standards enable auditors to more clearly focus on areas where there is a greater risk of misstatement of the financial statements. It is anticipated that implementation of the new Standards will increase the quality of audits by improving the linkage of audit procedures and assessed risks.
  • Changes in practice that the new Standards seek to achieve, include:
    • Obtaining, and documenting, a broader understanding of the entity and its environment, including its process for identifying business risks relevant to financial reporting objectives, and its information systems and internal control;
    • An audit team discussion of the susceptibility of the entity’s financial statements to material misstatement;
    • Determining which risks identified are "significant risks" that require special audit consideration; and
    • Designing and performing further audit procedures that are linked to the assessed risks.

 

Auditors should note that new Audit Risk Standards will be effective for audits of financial statements for periods beginning on or after 15 December 2004.

Stephen Chan

502

(SESSION HELD)

17 Jan 05

21 Replacement Hong Kong Auditing Standards

Are you aware that a complete set of new auditing standards will come into force?

Are you aware of their proposed implementation date?

Do you have a plan to deal with these changes?

This session will explain the impact on auditors of the 21 proposed Hong Kong Standards on Auditing and Review Engagements under consultation , highlighting the key changes and new requirements and guidance introduced as compared with their SAS counterparts:

 

HKSA 210 (SAS 140) - Engagement letters

HKSA 250 (SAS 120) - Consideration of laws and regulations

HKSA 260 (SAS 610) - Communication with those charged with governance

HKSA 320 (SAS 220) - Audit materiality

HKSA 402 (SAS 480) - Using service organizations

HKSA 501 (SAS 401) - Considerations for specific items

HKSA 505 (SAS 402) - External confirmations

HKSA 510 (SAS 450) - Opening balances

HKSA 520 (SAS 410/470) - Analytical procedures

HKSA 530 (SAS 430) - Audit sampling

HKSA 540 (SAS 420) - Accounting estimates

HKSA 545 (SAS 421) - Fair value measurements and disclosures

HKSA 550 (SAS 460) - Related parties

HKSA 560 (SAS 150) - Subsequent events

HKSA 570 (SAS 130) - Going concern

HKSA 580 (SAS 440) - Management representations

HKSA 610 (SAS 500A) - Considering the work of internal audit

HKSA 620 (SAS 520) - Using the work of an expert

HKSA 710 (SAS 450) - Comparatives

HKSA 720 (SAS 160) - Other information in documents containing audited financial statements

HKSRE 2400 (SAS 700) - Engagements to review financial statements

 

The 20 proposed HKSA are intended to be effective for audits of financial statements for periods beginning on or after 15 December 2004. Auditors should look at their software, audit manuals and audit documentation to make sure that they will comply with the new Standards.

Stephen Chan
503 30 May 2005

New Audit Risk Standards Introduce Risk-Based Audit Approach

 

HKSA 315, “Understanding of the Entity and Its Environment and Assessing the Risks of Material Misstatement”

 

HKSA 330, “The Auditor's Procedures in Response to Assessed Risks”

 

HKSA 500, “Audit Evidence”

 

This re-run session will explain how these new Standards will affect the way auditors conduct their audits.

 

The new Standards enable auditors to more clearly focus on areas where there is a greater risk of misstatement of the financial statements. It is anticipated that implementation of the new Standards will increase the quality of audits by improving the linkage of audit procedures and assessed risks.

 

  • Changes in practice that the new Standards seek to achieve, include: Obtaining, and documenting, a broader understanding of the entity and its environment, including its process for identifying business risks relevant to financial reporting objectives, and its information systems and internal control;
  • An audit team discussion of the susceptibility of the entity's financial statements to material misstatement;
  • Determining which risks identified are “significant risks” that require special audit consideration; and
  • Designing and performing further audit procedures that are linked to the assessed risks.

 

Auditors should note that new Audit Risk Standards will be effective for audits of financial statements for periods beginning on or after 15 December 2004.

 

Application deadline: 26 May 2005

Steve Ong
504 14 Jun 2005

New Quality Control Standards for Auditors

 

This re-run session will cover the following 2 important Auditing Standards issued by the Institute.

 

  • Hong Kong Standard on Quality Control 1”Quality Control for Firms that Perform Audits and Reviews of Historical Financial Information, and Other Assurance and Related Services Engagements”; and
  • Hong Kong Standard on Auditing 220 “Quality Control for Audits of Historical Financial Information”, adopting the equivalent International Auditing Standards.

 

Whilst quality control policies and procedures are not new to the accounting profession, these two Standards introduce several new concepts and requirements, including the extension of certain aspects to “other assurance and related services engagements”. Certain of the new requirements will have far reaching implications and necessitate more rigorous quality control policies and procedures being implemented by auditors.

 

Auditors should start to make a critical assessment of their existing quality control policies and procedures and audit documentation to see whether they are sufficient to comply with the systems of quality controls under HKSQC 1 which are required to be set up by 15 June 2005, and in terms of HKSA 220, quality controls over audits of historical financial information which are required to be set up for periods beginning on or after 15 June 2005.

 

Application deadline: 7 June 2005

Steve Ong
505 5 Jul 2005

Revised Standard on Fraud Consideration

 

This re-run session will cover the Hong Kong Standard on Auditing 240 “The Auditor's Responsibility to Consider Fraud in an Audit of Financial Statements”.

 

Auditors will enter a much expanded arena of procedures to detect fraud as they implement HKSA 240. The revised Standard aims to have the auditors' consideration of fraud blended into the audit process and continually updated until the audit's completion. HKSA 240 describes a process in which the auditors (1) gather information needed to identity risks of material misstatement due to fraud, (2) assess these risks after taking into account an evaluation of the entity's programs and controls and (3) respond to the results. Under HKSA 240, auditors will gather and consider much more information to assess fraud risks than they have in the past.

 

Application deadline: 26 June 2005

Steve Ong
506 2 Aug 2005

21 Replacement Hong Kong Auditing Standards

 

Are you aware that a complete set of new auditing standards will come into force?

 

Are you aware of their proposed implementation date?

 

Do you have a plan to deal with these changes?

 

This session will explain the impact on auditors of the 21 new Hong Kong Standards on Auditing and Review Engagements soon to be issued, highlighting the key changes and new requirements and guidance introduced as compared with their SAS counterparts:

 

HKSA 210 (SAS 140) Engagement letters

HKSA 250 (SAS 120) Consideration of laws and regulations

HKSA 260 (SAS 610) Communication with those charged with governance

HKSA 320 (SAS 220) Audit materiality

HKSA 402 (SAS 480) Using service organizations

HKSA 501 (SAS 401) Considerations for specific items

HKSA 505 (SAS 402) External confirmations

HKSA 510 (SAS 450) Opening balances

HKSA 520 (SAS 410/470) Analytical procedures

HKSA 530 (SAS 430) Audit sampling

HKSA 540 (SAS 420) Accounting estimates

HKSA 545 (SAS 421) Fair value measurements and disclosures

HKSA 550 (SAS 460) Related parties

HKSA 560 (SAS 150) Subsequent events

HKSA 570 (SAS 130) Going concern

HKSA 580 (SAS 440) Management representations

HKSA 610 (SAS 500A) Considering the work of internal audit

HKSA 620 (SAS 520) Using the work of an expert

HKSA 710 (SAS 450) Comparatives

HKSA 720 (SAS 160) Other information in documents containing audited financial statements

HKSRE 2400 (SAS 700) Engagements to review financial statements

 

The 20 proposed HKSA are intended to be effective for audits of financial statements for periods beginning on or after 15 December 2004. Auditors should look at their software, audit manuals and audit documentation to make sure that they will comply with the new Standards.

 

Application deadline: 26 July 2005

Steve Ong
506A 6 Sep 2005

21 Replacement Hong Kong Auditing Standards

 

Are you aware that a complete set of new auditing standards have come into force?

 

Are you aware of their proposed implementation date?

 

Do you have a plan to deal with these changes?

 

This session will explain the impact on auditors of the 21 new Hong Kong Standards on Auditing and Review Engagements issued, highlighting the key changes and new requirements and guidance introduced as compared with their SAS counterparts:

 

HKSA 210 (SAS 140) Engagement letters

HKSA 250 (SAS 120) Consideration of laws and regulations

HKSA 260 (SAS 610) Communication with those charged with governance

HKSA 320 (SAS 220) Audit materiality

HKSA 402 (SAS 480) Using service organizations

HKSA 501 (SAS 401) Considerations for specific items

HKSA 505 (SAS 402) External confirmations

HKSA 510 (SAS 450) Opening balances

HKSA 520 (SAS 410/470) Analytical procedures

HKSA 530 (SAS 430) Audit sampling

HKSA 540 (SAS 420) Accounting estimates

HKSA 545 (SAS 421) Fair value measurements and disclosures

HKSA 550 (SAS 460) Related parties

HKSA 560 (SAS 150) Subsequent events

HKSA 570 (SAS 130) Going concern

HKSA 580 (SAS 440) Management representations

HKSA 610 (SAS 500A) Considering the work of internal audit

HKSA 620 (SAS 520) Using the work of an expert

HKSA 710 (SAS 450) Comparatives

HKSA 720 (SAS 160) Other information in documents containing audited financial statements

HKSRE 2400 (SAS 700) Engagements to review financial statements

 

The 20 proposed HKSA are effective for audits of financial statements for periods beginning on or after 15 December 2004. Auditors should look at their software, audit manuals and audit documentation to make sure that they will comply with the new Standards.

 

Application deadline: 30 August 2005

Steve Ong
507 27 Sep 2005

Balance sheet I: Non-financial tangible assets other than leases and investment property

Understanding the balance sheet depends on understanding
how non-financial assets and liabilities are recognised, measured and disclosed. In a series of 3 independent sessions, we will cover key  recognition, measurement and disclosure requirements for non-financial assets and liabilities.


The first session will summarise the HKFRS requirements for the recognition, measurement and disclosure of non-financial tangible assets other than leases and  investment property.

 

The session will first address the classification of assets and
the applicable standards. It will then briefly outline the key provisions relating to non-financial tangible assets found in HKAS 16 Property, Plant and Equipment, HK(IFRIC)-Int 1Changes in Estimated Decommissioning, Restoration and Similar Liabilities, HKAS 2 Inventories, HKAS 36 Impairment of Assets and HKFRS 5 Non-current Assets Held for Sale and Discontinued Operations, and how they apply to:

Initial recognition of non-financial tangible assets

  • Subsequent measurement of property, plant and equipment: cost or revaluation
  • Depreciation
  • Impairment of property, plant and equipment and inventories
  • Assets held for sale
  • Disclosure issues.

Application deadline: 22 Sept 2005
Patricia McBride
508 4 Oct 2005
(Re-run)

New Audit Risk Standards Introduce Risk-Based Audit Approach

 

HKSA 315, “Understanding of the Entity and Its Environment and Assessing the Risks of Material Misstatement”

 

HKSA 330, “The Auditor's Procedures in Response to Assessed Risks”

 

HKSA 500, “Audit Evidence”


This re-run session will explain how these new Standards will affect the way auditors conduct their audits. The new Standards enable auditors to more clearly focus on areas where there is a greater risk of misstatement of the financial statements. It is anticipated that implementation of the  new Standards will increase the quality of audits by improving the linkage of audit procedures and assessed risks.


Changes in practice that the new Standards seek to
achieve, include:

  • Obtaining, and documenting, a broader understanding of the entity and its environment, including its process for identifying business risks relevant to financial reporting objectives, and its information systems and internal control;
  • An audit team discussion of the susceptibility of the entity’s financial statements to material misstatement;
  • Determining which risks identified are “significant risks” that require special audit consideration; and
  • Designing and performing further audit procedures that are linked to the assessed risks.

 

Auditors should note that new Audit Risk Standards are effective for audits of financial statements for periods beginning on or after 15 December 2004.

 

Application deadline: 29 Sep 2005

Steve Ong
509 25 Oct 2005

Balance sheet II: Intangible assets

 

This session will summarise the HKFRS requirements for the recognition, measurement and disclosure of intangible assets, including goodwill.

 

The session will outline the key provisions relating to intangible assets found in HKAS 38 Intangible Assets, HKFRS 3 Business Combinations and HKAS 36 Impairment of Assets and how they apply to:


• Initial recognition of intangible assets, both purchased
and internally generated
• Subsequent measurement of intangible assets other than
goodwill: cost or revaluation
• Amortisation
• Impairment
• Assets held for sale
• Disclosure issues.

Application deadline: 20 Oct 2005

Patricia McBride
510 1 Nov 2005

Balance sheet III: Leases and investment property / Non-financial liabilities

 

This session will summarise the HKFRS requirements for the recognition, measurement and disclosure of leases and investment property. It will complete the overview of the non-financial part of the balance sheet by considering the requirements of HKAS 37 Provisions, Contingent Liabilities and Contingent Assets.

 

The session will briefly outline the key provisions relating to leases (HKAS 17 Leases and HK-Int 4 Leases – Determination of the Length of Lease Term in respect of Hong Kong Land Leases) and investment property (HKAS 40 Investment Property), noting the changes introduced in converging with IFRSs.

 

The session will include a discussion of the key provisions relating to the recognition of provisions and the disclosure of contingent assets and contingent liabilities. The session
will conclude with a brief summary of proposed changes to HKAS 37.

Application deadline: 27 Oct 2005

Patricia McBride
511 8 Nov 2005
(Re-run)

Revised Standards on Fraud Consideration and Audit Planning for Auditors

This re-run session will cover the following 2 important
Auditing Standards:
• Hong Kong Standard on Auditing 240 “The Auditor’s
Responsibility to Consider Fraud in an Audit of Financial
Statements”; and
• Hong Kong Standard on Auditing 300 “Planning an Audit
of Financial Statements”,
adopting the equivalent International Auditing Standards.

 

Auditors will enter a much expanded arena of procedures to
detect fraud as they implement HKSA 240. The revised
Standard aims to have the auditors’ consideration of fraud
blended into the audit process and continually updated until
the audit’s completion. HKSA 240 describes a process in
which the auditors (1) gather information needed to identify
risks of material misstatement due to fraud, (2) assess these
risks after taking into account an evaluation of the entity’s
programs and controls and (3) respond to the results. Under
HKSA 240, auditors will gather and consider much more
information to assess fraud risks than they have in the past.
HKSA 300 requires the auditors to plan the audit more
rigorously so that the engagement will be performed in an
effective manner. Auditors are required to establish an overall
audit strategy which helps guide the development of the more
detailed audit plan and ensures that risk assessment procedures
and further detailed audit procedures are appropriately
targeted.

 

HKSA 300 provides the necessary requirements and guidance
for the auditors to perform this important aspect of the audit
and will assist in improving auditors’ performance.

Application deadline: 3 Nov 2005

Steve Ong
512 22 Nov 2005

Presentation issues

 

With companies starting to prepare their 2005 financial
statements, this session will overview a number of
presentation issues. The session will focus on disclosures in
HKAS 1 Presentation of Financial Statements, HKAS 7 Cash
Flow Statements, HKAS 8 Accounting Policies, Changes in
Accounting Estimates and Errors and HKFRS 5 Non-current
Assets Held for Sale and Discontinued Operations.
In particular, the session will cover:
• Selection of presentation currency
• Changes to the format of the four statements
• Changes in accounting policy and correction of errors
• Related party disclosures
• New non-financial disclosures

Application deadline: 17 Nov 2005

Patricia McBride
513 29 Nov 2005
(Re-run)

New Quality Control Standards for Auditors

 

This re-run session will cover the following 2 important
Auditing Standards:


• Hong Kong Standard on Quality Control 1”Quality
Control for Firms that Perform Audits and Reviews of
Historical Financial Information, and Other Assurance
and Related Services Engagements”; and
• Hong Kong Standard on Auditing 220 “Quality Control
for Audits of Historical Financial Information”, adopting
the equivalent International Auditing Standards.
Whilst quality control policies and procedures are not new to
the accounting profession, these two Standards introduce
several new concepts and requirements, including the
extension of certain aspects to “other assurance and related
services engagements”. Certain of the new requirements
will have far reaching implications and necessitate more
rigorous quality control policies and procedures being
implemented by auditors.


Auditors should make a critical assessment of their existing
quality control policies and procedures and audit
documentation to see whether they are sufficient to
comply with the systems of quality controls under HKSQC
1 which are required to be set up by 15 June 2005, and in
terms of HKSA 220, quality controls over audits of
historical financial information which are required to be set
up for periods beginning on or after 15 June 2005.

Application deadline: 24 Nov 2005

Steve Ong
514 7 Dec 2005

Financial instruments: new disclosures and other changes

 

The financial instruments standards contain some of the
most complex requirements in accounting standards. This
session will discuss the new disclosure requirements for
financial instruments and the recent changes to HKAS 39
Financial Instruments: Recognition and Measurement.
HKFRS 7 Financial Instruments: Disclosures (recently
released) replaces HKAS 30 Disclosures in the Financial
Statements of Banks and Similar Financial Institutions and
the disclosure requirements in HKAS 32 Financial
Instruments: Disclosure and Presentation. HKFRS 7 brings
into one standard the disclosures that entities need to
make about financial instruments. This session will outline
the main requirements of HKFRS 7 and highlight the key
changes to financial instruments disclosures for reporting
periods beginning on or after 1 January 2007. It will also
cover the new requirement in HKAS 1 Presentation of
Financial Statements to disclose information about the
management of capital.

 

HKAS 39 Financial Instruments: Recognition and
Measurement (and some other standards) have recently
been amended for changes including the introduction of
constraints on the use of the fair value option, changes to
cash flow hedge accounting and requirements related to
financial guarantees. The changes apply to reporting
periods beginning on or after 1 January 2006. This session
will outline the new requirements.

Application deadline: 2 Dec 2005

Patricia McBride
515 16 Dec 2005
(Re-run)

21 Replacement Hong Kong Auditing Standards

 

This re-run session will explain the impact on auditors of
the 21 new Hong Kong Standards on Auditing and Review
Engagements issued, highlighting the key changes and
new requirements and guidance introduced as compared
with their SAS counterparts:
HKSA 210 (SAS 140) Engagement letters
HKSA 250 (SAS 120) Consideration of laws and regulations
HKSA 260 (SAS 610) Communication with those charged with
governance
HKSA 320 (SAS 220) Audit materiality
HKSA 402 (SAS 480) Using service organizations
HKSA 501 (SAS 401) Considerations for specific items
HKSA 505 (SAS 402) External confirmations
HKSA 510 (SAS 450) Opening balances
HKSA 520 (SAS 410/470) Analytical procedures
HKSA 530 (SAS 430) Audit sampling
HKSA 540 (SAS 420) Accounting estimates
HKSA 545 (SAS 421) Fair value measurements and disclosures
HKSA 550 (SAS 460) Related parties
HKSA 560 (SAS 150) Subsequent events
HKSA 570 (SAS 130) Going concern
HKSA 580 (SAS 440) Management representations
HKSA 610 (SAS 500A) Considering the work of internal audit
HKSA 620 (SAS 520) Using the work of an expert
HKSA 710 (SAS 450) Comparatives
HKSA 720 (SAS 160) Other information in documents containing
audited financial statements
HKSRE 2400 (SAS 700) Engagements to review financial statements
The 20 HKSA are effective for audits of financial statements
for periods beginning on or after 15 December 2004.
HKSRE 2400 is effective from June 2005. Auditors should
look at their software, audit manuals and audit
documentation to make sure that they comply with the
new Standards.

Application deadline: 8 Dec 2005

Steve Ong
601 26 Jan 2006

Practice Notes relating to Audit of Listed Issuers

This session will give an outline of the recent Practice Notes issued relating to Audit of Listed Issuers

 

• PN 720 Acting as Scrutineer at a General Meeting of
a Listed Issuer
• PN 730 Guidance for Auditors Regarding Preliminary Announcements of Annual Results

 

PN 720 provides guidance to auditors who have been requested by a Listed Issuer to act as scrutineer when a poll is called at a general meeting. PN 730 provides guidance for auditors on their responsibilities with regard to the preliminary announcement of results for the full financial year of a listed issuer.

Application deadline: 24 January 2006

Stephen Chan
Steve Ong

602 7 Feb 2006

Business Combinations: New Accounting Guideline on
Merger Accounting and other recent developments

 

Accounting Guideline (AG) 5 Merger Accounting for Common Control Combinations sets out the basic principles and procedures of merger accounting when recognising a common control combination. This session will give an outline of the guidance in AG 5 and work through a few examples applying the guidance.
This session will also give a brief outline of other recent developments in terms of the accounting for business combinations, including those resulting from the Companies (Amendment) Ordinance 2005 and those proposed under the IASB exposure draft on the proposed revised IFRS 3 Business Combinations.

 

Application deadline: 2 February 2006
Elsa Ho
603 21 Feb 2006

New Code of Ethics
Issues relevant to Auditors and CPAs in Public Practice

 

The Institute has recently issued a new Code of Ethics for Professional Accountants that is converged with the IFAC Code of Ethics for Professional Accountants. The new Code of Ethics will be effective from 30 June 2006.
This session will explain the conceptual framework established by the new Code which introduces a threats and safeguards approach to virtually all areas of professional ethics similar to the current approach to independence for assurance engagements. It will focus on ethics for professional accountants in public practice with examples of situations to illustrate the concept introduced by the new Code.

 

Application deadline: 16 February 2006
Stephen Chan Elaine Chan
604 14 Mar 2006

Introduction to Financial Instruments

 

This session is designed for those who are still struggling with the basic requirements of HKAS 32 Financial Instruments: Disclosure and Presentation and HKAS 39 Financial Instruments: Recognition and Measurement. It will cover existing requirements, and forthcoming changes, at an introductory level:

• Distinction between debt and equity
• Types of financial assets and financial liabilities
• Recognition and derecognition
• Measurement: fair value, amortised cost, impairment
• Derivatives, including embedded derivatives
• Hedge accounting: the three hedge relationships and associated requirements

 

Application deadline: 9 Mar 2006
Patricia McBride
605 21 Mar 2006

New Code of Ethics


Issues relevant to Professional Accountants in Business (PAIBs)

Similar to the earlier session on ethics for auditors and CPAs in public practice, this session will explain the conceptual framework established by the new Code which introduces a threats and safeguards approach to virtually all areas of professional ethics similar to the current approach to independence for assurance engagements.

 

The focus will be on ethics for PAIBs. While the existing Professional Ethics Statements primarily focus on ethics for professional accountants in public practice, Part C of the new Code deals specifically with ethics for PAIBs. This session will discuss some common examples of situations with ethical implications encountered by PAIBs in their work places.

 

Application deadline: 16 Mar 2006

Stephen Chan Elaine Chan

606 11 Apr 2006

Issues in Preparing Financial Statements

 

This session will discuss a number of issues relating to the preparation and use of financial statements. Preparers, auditors and users of financial statements need to understand their increased responsibilities now that Hong Kong Financial Reporting Standards are steadily becoming more ‘principles-based’. The session will provide an opportunity for members to raise issues they encountered in applying HKFRSs.

In addressing these issues, this session will cover
• The purpose of financial statements – the differing perspectives of users and preparers
• Principles-based standards and rules-based standards – advantages and disadvantages
• Selection of accounting policies and application of accounting standards: the requirements of HKAS 8 Accounting Policies, Changes in Accounting Estimates and Errors
• The importance of the Framework for the Preparation and Presentation of Financial Statements in selecting and applying accounting policies
• The impact of materiality on financial reporting

Application deadline: 6 Apr 2006
Patricia McBride
607 25 Apr 2006

Improving Audit Documentation

 

This session will cover the new Hong Kong Standard on Auditing (HKSA) 230, Audit Documentation, adopting the equivalent International Auditing Standard.

 

HKSA 230:

 

• Places increased emphasis on the timely preparation of audit documentation necessary to provide a sufficient and appropriate record of the basis for the auditor’s report
• Establishes a new requirement that the audit is carried out in accordance with HKSAs and applicable legal and regulatory requirements.
• Establishes a new requirement that the auditor completes the assembly of the final audit file on a timely basis after the date of the auditor’s report.
• Establishes a new requirement that the auditor should not delete or discard audit documentation after the final audit file has been assembled, unless the retention period for the audit documentation has elapsed.

 

Application deadline: 20 Apr 2006

Steve Ong

608 18 Apr 2006
(Re-run)

Issues in Preparing Financial Statements

 

This session will discuss a number of issues relating to the preparation and use of financial statements. Preparers, auditors and users of financial statements need to understand their increased responsibilities now that Hong Kong Financial Reporting Standards are steadily becoming more ‘principles-based’. The session will provide an opportunity for members to raise issues they encountered in applying HKFRSs.

 

In addressing these issues, this session will cover
• The purpose of financial statements – the differing perspectives of users and preparers
• Principles-based standards and rules-based standards – advantages and disadvantages
• Selection of accounting policies and application of accounting standards: the requirements of HKAS 8 Accounting Policies, Changes in Accounting Estimates and Errors
• The importance of the Framework for the Preparation and Presentation of Financial Statements in selecting and applying accounting policies
• The impact of materiality on financial reporting

 

Application deadline: 6 Apr 2006
Patricia McBride
609 28 Mar 2006
(Re-run)

Introduction to Financial Instruments

 

This session is designed for those who are still struggling with the basic requirements of HKAS 32 Financial Instruments: Disclosure and Presentation and HKAS 39 Financial Instruments: Recognition and Measurement. It will cover existing requirements, and forthcoming changes, at an introductory level:

• Distinction between debt and equity
• Types of financial assets and financial liabilities
• Recognition and derecognition
• Measurement: fair value, amortised cost, impairment
• Derivatives, including embedded derivatives
• Hedge accounting: the three hedge relationships and associated requirements

 

Application deadline: 24 Mar 2006
Patricia McBride
610 Tuesday
9 May 2006
(Re-run)

Improving Audit Documentation

 

This session will cover the new Hong Kong Standard on Auditing (HKSA) 230, Audit Documentation, adopting the equivalent International Auditing Standard.

 

HKSA 230:

• Places increased emphasis on the timely preparation of audit documentation necessary to provide a sufficient and appropriate record of the basis for the auditor’s report
• Establishes a new requirement that the audit is carried out in accordance with HKSAs and applicable legal and regulatory requirements.
• Establishes a new requirement that the auditor completes the assembly of the final audit file on a timely basis after the date of the auditor’s report.
• Establishes a new requirement that the auditor should not delete or discard audit documentation after the final audit file has been assembled, unless the retention period for the audit documentation has elapsed.

 

Application deadline: 4 Apr 2006

Steve Ong

611 Tuesday
2 May 2006
(Re-run)
Introduction to Financial Instruments

This session is designed for those who are still struggling with the basic requirements of HKAS 32 Financial Instruments: Disclosure and Presentation and HKAS 39 Financial Instruments: Recognition and Measurement. It will cover existing requirements, and forthcoming changes, at an introductory level:

• Distinction between debt and equity
• Types of financial assets and financial liabilities
• Recognition and derecognition
• Measurement: fair value, amortised cost, impairment
• Derivatives, including embedded derivatives
• Hedge accounting: the three hedge relationships and associated requirements

Application deadline: 27 Apr 2006
Patricia McBride
612 Tuesday
16 May 2006

Issues in Preparing Financial Statements

 

This session will discuss a number of issues relating to the preparation and use of financial statements. Preparers, auditors and users of financial statements need to understand their increased responsibilities now that Hong Kong Financial Reporting Standards are steadily becoming more ‘principles-based’. The session will provide an opportunity for members to raise issues they encountered in applying HKFRSs.

In addressing these issues, this session will cover


• The purpose of financial statements – the differing perspectives of users and preparers
• Principles-based standards and rules-based standards – advantages and disadvantages
• Selection of accounting policies and application of accounting standards: the requirements of HKAS 8 Accounting Policies, Changes in Accounting Estimates and Errors
• The importance of the Framework for the Preparation and Presentation of Financial Statements in selecting and applying accounting policies
• The impact of materiality on financial reporting

 

Application deadline: 11 May 2006

Patricia McBride
613 Tuesday
23 May 2006

Proposed changes to HKAS 1

 

HKAS 1 Presentation of Financial Statements is the standard that governs the appearance and layout of financial statements (the presentation and disclosure requirements). The IASB is now proposing some radical changes to the way the income statement looks and is seeking comments. This session will review the major changes proposed to HKAS 1, including:

 

• renaming the income statement and balance sheet
• changing the income statement to a "statement of recognised income and expense" and permitting this statement to be presented in one of two formats
• removing one of the existing options for the statement of changes in equity
• presenting a balance sheet at the start of each period The session will also address the preparation of comment letters on Exposure Drafts, to assist members in expressing their views about proposed changes to the Institute's Financial Reporting Standards Committee and Auditing and Assurance Standards Committe

 

Application deadline: 18 May 2006

Patricia McBride
614
Tuesday
6 Jun 2006

New Standards on Pro Forma Financial Information

 

This session will introduce the new Hong Kong Standard on Investment Circular Reporting Engagements 300 Accountants’ Reports on Pro Forma Financial Information in Investment Circulars and Accounting Guideline 7 Preparation of Pro Forma Financial Information for Inclusion in Investment Circulars.

 

For preparers of pro forma financial information, it will cover the presentation of the information and the types of adjustments that are commonly made to the unadjusted financial information. For reporting accountants, it will cover the matters that are to be considered when reporting on pro forma financial information in investment circulars and the format of reports to be issued.

This session will also give a brief update of the latest development of the Accountants’ Report Project which seeks to develop standards and guidance for reporting accountants in the conduct of engagements involving investment circulars to be issued in connection with securities transactions.

 

Application deadline: 1 June 2006

Elaine Chan
615
Tuesday
27 Jun 2006

Discussion Paper on “Requests for Special Purpose Reports”

 

This session will introduce the key features of the discussion paper developed by the Auditing and Assurance Standards Committee on Special Purpose Reports. The aim of the discussion paper is to help clarify to practising members and users of their reports the principal types of special purpose engagements and the form and content of the related reports.

 

This session will:
• explain in general terms the nature of assurance, agreed-upon procedures and compilation engagements;
• explain the two categories of assurance engagements that may be undertaken; and
• discuss the nature of agreed-upon procedures engagements and compilation engagements. This session will also highlight some of the practical issues
that may arise when undertaking such engagements and guidance on how to address them.

 

Application deadline: 22 June 2006

Steve Ong
616
Tuesday
11 Jul 2006

Commonly asked financial reporting questions

 

From time to time, the HKICPA receives technical queries on the application of Hong Kong Financial Reporting Standards and the Financial Reporting Framework and Financial Reporting Standard for Small and Medium sized Entities. The HKICPA staff will respond to such technical queries in accordance with the HKICPA staff policy on handling technical queries, a copy of which can be found in http://app1.hkicpa.org.hk/professionaltechnical/policy/techqs.pdf

This session will go through a number of commonly asked financial reporting questions, especially those received in the first half of 2006, and the staff responses to those questions.

 

Application deadline: 6 July 2006

Elsa Ho
617
Tuesday
13 Jun 2006
(Re-run)

Improving Audit Documentation

 

This session will cover the new Hong Kong Standard on Auditing (HKSA) 230, Audit Documentation, adopting the equivalent International Auditing Standard.

 

HKSA 230:

 

• Places increased emphasis on the timely preparation of audit documentation necessary to provide a sufficient and appropriate record of the basis for the auditor’s report
• Establishes a new requirement that the audit is carried out in accordance with HKSAs and applicable legal and regulatory requirements.
• Establishes a new requirement that the auditor completes the assembly of the final audit file on a timely basis after the date of the auditor’s report.
• Establishes a new requirement that the auditor should not delete or discard audit documentation after the final audit file has been assembled, unless the retention period for the audit documentation has elapsed.

 

Application deadline: 4 May 2006

Steve Ong

618
Monday
28 Aug 2006

Commonly asked financial reporting questions

 

From time to time, the HKICPA receives technical queries on the application of Hong Kong Financial Reporting Standards and the Financial Reporting Framework and Financial Reporting Standard for Small and Medium sized Entities. The HKICPA staff will respond to such technical queries in accordance with the HKICPA staff policy on handling technical queries, a copy of which can be found in http://app1.hkicpa.org.hk/professionaltechnical/policy/techqs.pdf. This session will go through a number of commonly asked financial reporting questions, especially those received in the first half of 2006, and the staff responses to those questions.

 

Application deadline: 23 August 2006

Elsa Ho
619
Thursday
21 Sep 2006

Application of the conceptual framework to independence

 

The Institute has applied for some time a conceptual framework to independence that requires the consideration of threats and safeguards under the Code of Ethics for Professional Accountants and the superseded Professional Ethics Statement 1.203A. This session will go through some of the common circumstances that may create threats to independence with respect to assurance engagements undertaken by professional accountants in public practice and the application of the conceptual framework to those circumstances. It will also go through some of the technical queries that HKICPA staff has received on the application of the conceptual framework.

 

Application deadline: 14 September 2006

Elaine Chan
620
Tuesday
10 Oct 2006

Fair Value Measurement Guidance

 

A number of HKFRSs contain requirements to measure specified assets and liabilities at fair value. This has created concerns as to how fair values should be computed if they are not readily available. The IASB is expected to release an Exposure Draft providing guidance on applying fair value measurements very shortly and the HKICPA will release a similar Exposure Draft immediately thereafter.

 

The purpose of the Exposure Draft is to assist entities in applying the fair value easurements required or permitted by various financial reporting standards. At present, the guidance that is available is spread across a number of standards, leading to nconsistencies in measuring fair value. This Exposure Draft is designed to provide codified and consistent guidance for measuring fair value. The Exposure Draft will not change the application of fair value measurement requirements. That is, it will not address when fair value measurement is required or permitted and it will not consider how changes in fair value should be recognised.

 

This session will explain the proposals in the Exposure Draft. This will include:

 

• a discussion of the extent to which the proposals resolve the practical issues in applying fair value measurement; and
• an examination of the changes proposed by the Exposure Draft to existing financial reporting standards.

 

Application deadline: 5 October 2006

Patricia McBride
621
Tuesday
7 Nov 2006

The New Audit Report Standards - HKSA 700 and HKSA 701

 

This session will introduce the key features of the new Audit Report Standards, HKSA 700 “The Independent Auditor’s Report on a Complete Set of General Purpose Financial Statements” and HKSA 701 “Modifications to the Independent Auditor’s Report”. Both HKSA 700 and HKSA 701 will replace SAS 600 “Auditors’ reports on financial statements”.

 

This session will cover:

• The major differences between unqualified Audit Reports issued under HKSA 700 as compared to SAS 600
• The major differences between qualified Audit Reports issued under HKSA 701 as compared to SAS 600
• Circumstances where an auditor’s report may be modified by adding an emphasis of matter paragraph

 

Application deadline: 2 Nov 2006

Steve Ong
622
Tuesday
28 Nov 2006

Financial Reporting Council Ordinance

 

The passage of the Financial Reporting Council Ordinance was the last stage of a regulatory reform package first promoted by the Institute over three years ago. In this post-Enron world, the Financial Reporting Council will investigate standards of financial reporting and audits of listed companies, while the Institute will retain responsibility for audits of non-listed companies and acting as prosecutor in disciplinary proceedings. The session will outline developments during the Bill’s passage through LegCo. The principal provisions of the Ordinance will be outlined and the structure of the FRC will be explained as will the FRC’s powers and members’ obligations in these respects. Reference will also be made to the Institute’s funding obligations, the arrangements for which necessitated amendments to the Professional Accountants Ordinance.

 

Application deadline: 23 Nov 2006

Tony Harrod
623
Tuesday
12 Dec 2006

Financial Reporting Review 2006

 

This session will provide an overview of the changes in financial reporting 2006. In particular, this session will highlight the new standards, amendments to, and interpretations of, HKFRSs that are effective for the periods beginning on or after 1 January 2006 and therefore may need to be considered for the first time in the preparation of the 2006 annual financial statements. This session will also highlight the exposure drafts issued in 2006 but not yet become effective so as to give some indication as to the likely developments in future financial reporting.

 

Application deadline: 7 December 2006

Elsa Ho
624
Wednesday 20 Sep 2006

Commonly asked financial reporting questions

 

From time to time, the HKICPA receives technical queries on the application of Hong Kong Financial Reporting Standards and the Financial Reporting Framework and Financial Reporting Standard for Small and Medium sized Entities. The HKICPA staff will respond to such technical queries in accordance with the HKICPA staff policy on handling technical queries, a copy of which can be found in http://app1.hkicpa.org.hk/professionaltechnical/policy/techqs.pdf. This session will go through a number of commonly asked financial reporting questions, especially those received in the first half of 2006, and the staff responses to those questions.

 

Application deadline: 15 September 2006

Elsa Ho
625
Tuesday
14 Nov 2006

Fair Value Measurement Guidance

 

A number of HKFRSs contain requirements to measure specified assets and liabilities at fair value. This has created concerns as to how fair values should be computed if they are not readily available. The IASB is expected to release an Exposure Draft providing guidance on applying fair value measurements very shortly and the HKICPA will release a similar Exposure Draft immediately thereafter.

 

The purpose of the Exposure Draft is to assist entities in applying the fair value easurements required or permitted by various financial reporting standards. At present, the guidance that is available is spread across a number of standards, leading to nconsistencies in measuring fair value. This Exposure Draft is designed to provide codified and consistent guidance for measuring fair value. The Exposure Draft will not change the application of fair value measurement requirements. That is, it will not address when fair value measurement is required or permitted and it will not consider how changes in fair value should be recognised.

 

This session will explain the proposals in the Exposure Draft. This will include:

• a discussion of the extent to which the proposals resolve the practical issues in applying fair value measurement; and
• an examination of the changes proposed by the Exposure Draft to existing financial reporting standards.

 

Application deadline: 9 Nov 2006

Patricia McBride
626
Tuesday
21 Nov 2006

The New Audit Report Standards - HKSA 700 and HKSA 701

This session will introduce the key features of the new Audit Report Standards, HKSA 700 “The Independent Auditor’s Report on a Complete Set of General Purpose Financial Statements” and HKSA 701 “Modifications to the Independent Auditor’s Report”. Both HKSA 700 and HKSA 701 will replace SAS 600 “Auditors’ reports on financial statements”.

This session will cover:

• The major differences between unqualified Audit Reports issued under HKSA 700 as compared to SAS 600
• The major differences between qualified Audit Reports issued under HKSA 701 as compared to SAS 600
• Circumstances where an auditor’s report may be modified by adding an emphasis of matter paragraph

Application deadline: 16 Nov2006

Steve Ong
627
Tuesday
16 Jan 2007

Financial Reporting Review 2006

 

This session will provide an overview of the changes in financial reporting 2006. In particular, this session will highlight the new standards, amendments to, and interpretations of, HKFRSs that are effective for the periods beginning on or after 1 January 2006 and therefore may need to be considered for the first time in the preparation of the 2006 annual financial statements. This session will also highlight the exposure drafts issued in 2006 but not yet become effective so as to give some indication as to the likely developments in future financial reporting.

 

Application deadline: 11 January 2007

Elsa Ho
628
Tuesday
5 Dec 2006

The New Audit Report Standards - HKSA 700 and HKSA 701

 

This session will introduce the key features of the new Audit Report Standards, HKSA 700 “The Independent Auditor’s Report on a Complete Set of General Purpose Financial Statements” and HKSA 701 “Modifications to the Independent Auditor’s Report”. Both HKSA 700 and HKSA 701 will replace SAS 600 “Auditors’ reports on financial statements”.

 

This session will cover:

• The major differences between unqualified Audit Reports issued under HKSA 700 as compared to SAS 600
• The major differences between qualified Audit Reports issued under HKSA 701 as compared to SAS 600
• Circumstances where an auditor’s report may be modified by adding an emphasis of matter paragraph

 

Application deadline: 30 Nov2006

Steve Ong
701
Tuesday
27 Feb 2007

Proposed New Audit Independence Requirements

 

The IFAC's International Ethics Standards Board for Accountants Exposure Draft on Auditor Independence Requirements proposes to update and strengthen the auditor independence requirements contained in the IFAC
Code of Ethics for Professional Accountants. As part of the HKICPA International Convergence Programme, the
new proposals will affect the HKICPA Code of Ethics for Professional Accountants.

 

This session will contain the significant proposed modifications to the Code:

• Extending the partner rotation requirements to all key audit partners on an audit of an entity of significant public interest;
• Updating requirements related to the provision of non-assurance services, including setting out guidance
on the provision of tax services to audit clients;
• Providing guidance on key audit firm personnel accepting employment with audit clients that are entities of significant public interest; and
• Extending the independence requirements to the audits of a wide range of

entities of significant public interest.

 

Application deadline: 23 Feb2007

Steve Ong
702
Tuesday
13 Mar 2007

Fair Value Measurements Discussion Paper

HKFRSs contain requirements to measure specified assets and liabilities at fair value. This has created concerns as to how fair values should be developed if they are not readily available. The IASB released a Discussion Paper in Dec 2006 and the Institute is seeking comments on the Discussion Paper.

The Discussion Paper is a first step in a project designed to ensure that fair value measurements required or permitted by existing financial reporting standards are defined and applied consistently. At present, the guidance that is available is inconsistent and spread across a number of standards. It is important to note that the project will not change any requirements to measure assets and liabilities at fair value. That is, it will not address when fair value measurement is required or permitted and it will not consider how changes in fair value should be recognised.

This session will contain similar content to the sessions in 2006 that explained the anticipated proposals and will include a discussion of the extent to which the proposals resolve the practical issues in applying fair value measurement.

Application deadline: 9 Mar 2007

Patricia McBride
703
Tuesday
20 Mar 2007

Group and Treasury Share Transactions and Service Concession Arrangements - HK(IFRIC) Interpretations 11 and 12

HK(IFRIC) Interpretation 11, which is converged with IFRIC Interpretation 11, addresses how to apply HKFRS 2
Share-based Payment to share-based payment arrangements involving an entity’s own equity instruments
or equity instruments of another entity in the same group. This session will cover share based payment arrangements involving an entity’s own equity instruments and those involving equity instruments of the parent.

IFRIC Interpretation 12, which is converged with IFRIC Interpretation 12, gives guidance on the accounting by
operators for public-to-private service concession arrangements. Service concessions are arrangements whereby a government or other public sector entity grants contracts for the supply of public services such as roads, airports and energy and water supply. Control of the assets remains in public hands but the private sector operator is responsible for construction activities, as well as for operating and maintaining the public sector infrastructure. This session will cover the general principles on recognising and measuring the obligations and related rights in service concession arrangements.

Application deadline: 16 Mar 2007

Elaine Chan
704
Tuesday
17 Apr 2007

Operating Segments - HKFRS 8

HKFRS 8, which is converged with IFRS 8, sets out requirements for disclosure of information about an entity's operating segments and also about the entity's products and services, the geographical areas in which it operates and its major customers. IFRS 8 forms part of the International Accounting Standards Board's work in its joint short-term convergence project with the US Financial Accounting Standards Board to reduce the differences between IFRSs and US GAAP. HKFRS 8 will replace HKAS 14 Segment Reporting and aligns segment reporting with the requirements of the US standard SFAS 131 Disclosures about Segments of an Enterprise and Related Information.

This session will cover the management approach to reporting on the financial performance of operating segments and disclosure requirements.

Application deadline: 13 Apr 2007

Elaine Chan
705
Tuesday
24 Apr 2007

Review of Interim Financial Information Performed by the Independent Auditor of the Entity - HKSRE 2410

The proposed HKSRE 2410, which will be issued as part of the HKICPA International Convergence Programme, is limited to a review of interim financial information performed by the independent auditor of the financial statements of the entity. HKSRE 2410 will replace SAS 700 Engagements to review Interim Financial Reports.

This session will contain the guidance on the auditor's professional responsibilities when the auditor undertakes an engagement to review interim financial information of an audit client and on the form and content of the report.

Application deadline: 20 Apr 2007

Steve Ong
706
Tuesday
15 May 2007
Companies (Revision of Accounts and Reports) Regulation – What should the Auditors do?

Companies (Revision of Accounts & Reports) Regulation, gazetted on 16 Feb2007, sets out the implementation details for companies to revise their financial statements to prevent reliance being placed on any previously issued financial statements. Subject to negative vetting by lawmakers, the regulation will come into operation on 20 Apr 2007. The regulation will enable company members and investors to be informed of a company's accurate business and financial situation, promoting market transparency and upgrading corporate governance.

 

This session will contain an outline of the significant proposals and discuss how auditors should consider the subsequent events and prepare a new audit report on the revised financial statements.

 

Application deadline: 10 May 2007

Steve Ong
707
Tuesday
29 May 2007

The IASB's International Convergence Programme – Borrowing costs and related parties

 

The IASB is working towards convergence with other national standard setters where appropriate.

 

This session will discuss the recently released changes to HKAS 23 Borrowing Costs resulting from the IASB’s convergence programme with the US FASB. The session will also consider the exposure draft on related parties which addresses when state-owned enterprises should be disclosed as related parties (convergence with the Mainland) and a revised definition of related parties (convergence with Japan).

 

Application deadline: 24 May 2007

Patricia McBride
708
Tuesday
12 Jun 2007

Consultation Paper on the Rewrite of the Accounting and Auditing Provisions of the Companies Ordinance - Highlights of the Proposals

 

The proposals are based on the work of a working group comprising of representatives of the HKICPA and relevant government departments established in 2002 to undertake a comprehensive review of the accounting and auditing provisions of the Companies Ordinance. The rewrite aims to make the company law more user-friendly and provide Hong Kong with a modernized legal infrastructure commensurate with its status as a major international business and financial centre. As the first of a series of public consultations, this consultation paper sets out the proposals to improve the accounting and auditing provisions in the Companies Ordinance, for comment by 29 Jun 2007.

 

This session will contain a summary of the high level proposals ranging from providing an accounting reference date, making the directors' report a more forward-looking document, ensuring directors consider carefully whether they have disclosed all relevant audit information to the auditors and enhancing auditors' rights to access to information and providing them with qualified privileges.

 

Application deadline: 7 Jun 2007

Steve Ong
709
Tuesday
26 Jun 2007

Insurance Contracts

 

HKFRS 4 Insurance Contracts was issued in August 2004 pending the completion of the IASB's major project addressing the accounting for insurance contracts.

 

The IASB is expected to issue a Discussion Paper in Apr/May 2007 which will be the first step in developing a comprehensive standard on accounting for insurance contracts. This session will outline the issues identified in the Discussion Paper and tentative proposals for addressing those issues.

It is important to note that insurance contracts can be issued by companies other than insurance companies. For example, a product warranty issued by a party other than a manufacturer, dealer or retailer meets the definition of an insurance contract. As a result, the developments in accounting for insurance contracts will have a wider impact than just insurance companies.

 

Application deadline: 21 Jun 2007

Patricia McBride
710
Tuesday
17 Jul 2007

Exposure Draft of IFRS for SMEs - Is it suitable for Hong Kong?

 

The HKICPA has issued an Invitation to Comment on the IASB exposure draft of IFRS for SMEs for comment until 1 September 2007.

This session will contain an overview of the IASB's exposure draft and a comparison of the key differences between the IASB IFRS for SMEs and the HKICPA SME-FRS including the scope, concepts and pervasive principles, financial statement presentation, cash flow statement, financial assets and financial liabilities, investment property, property, plant and equipment, leases, revenue, government grants, borrowing costs, impairment, income taxes, foreign currency translation.

 

Application deadline: 12 July 2007

Elaine Chan
801
Tuesday
19 Feb 2008
HKFRSs Year End Update

This session will contain an outline of the key changes in HKFRSs that need to be applied in 31 Dec 2007 year-end reports.

Application deadline: 14 Feb2008
Patricia McBride
802
Wednesday 27 Feb 2008 PN 820 - The Audit of Licensed Corporations and Associated Entities of Intermediaries

This session will discuss the proposed key changes of the revised Practice Note that has been updated in consultation with the Securities and Futures Commission in relation to the audit of licensed corporations and associated entities of intermediaries.

Application deadline: 22 Feb2008
Steve Ong
803
Tuesday
11 Mar 2008
Liability or Equity - HKAS 32 Financial Instruments: Presentation

This session will discuss the key principles to use in differentiating what is a liability or an equity with reference to HKAS 32 Financial Instruments: Presentation


Application deadline: 6 Mar 2008
Patricia McBride
804
Tuesday
8 Apr 2008
Reporting on General Charitable Fund-Raising Activities covered by Public Subscription Permits issued by Social Welfare Department (Other than Flag Days) and Audit of Accounts of Owners' Corporation of Buildings

This session will discuss the limited assurance engagement to be conducted in accordance with HKSAE 3000 Assurance Engagements Other Than Audits or Reviews of Historical Financial Information on reporting on general charitable fund-raising activities covered by Public subscription permits issued by the Social Welfare Department and will also cover the key features of an audit of accounts of Owners' Corporation of Buildings under the Building Management Ordinance.

Application deadline: 3 Apr 2008
Steve Ong
805
Tuesday
22 Apr 2008
HKAS 1 (Revised) Presentation of Financial Statements

This session will discuss the main changes from the previous version and the introduction of a statement of comprehensive income in preparation for 2009.

Application deadline: 17 Apr 2008
Steve Ong
805A
Tuesday
29 Apr 2008
(Re-run)
HKAS 1 (Revised) Presentation of Financial Statements

This session will discuss the main changes from the previous version and the introduction of a statement of comprehensive income in preparation for 2009.

Application deadline: 24 Apr 2008

Steve Ong
806
Friday
9 May 2008
FAQs on HKFRSs, HKSAs and HKICPA Code of Ethics

This session will highlight the frequently asked questions received by Standard Setting Department from the HKICPA’s technical enquiry system and go through a number of commonly asked questions, especially those received recently, and the staff responses to those questions.

Application deadline: 5 May 2008
Steve Ong
807
Tuesday
13 May 2008
Issues in Implementing HKFRSs - Part I

HKFRSs have been converged with IFRSs for 3 years. It is time to look at some common implementation issues in order to avoid making these mistakes and to improve the quality of financial reporting in Hong Kong. This session will cover implementation issues relating to HKFRS 3 Business Combinations.

Application deadline: 6 May 2008
Florence Wong
808
Tuesday
20 May 2008
Issues in Implementing HKFRSs - Part II

HKFRSs have been converged with IFRSs for 3 years. It is time to look at some common implementation issues in order to avoid making these mistakes and to improve the quality of financial reporting in Hong Kong. This session will cover implementation issues relating to HKAS 1 Presentation of Financial Statements, HKAS 14 Segment Reporting (replaced by HKFRS 8 Operating Segments), HKAS 18 Revenue and HKAS 21 The Effects of Changes in Foreign Exchange Rates.

Application deadline: 14 May 2008
Florence Wong
806A
Friday
23 May 2008
(Re-run)
FAQs on HKFRSs, HKSAs and HKICPA Code of Ethics

This session will highlight the frequently asked questions received by Standard Setting Department from the HKICPA’s technical enquiry system and go through a number of commonly asked questions, especially those received recently, and the staff responses to those questions.

Application deadline: 19 May 2008
Steve Ong
809
Tuesday
27 May 2008
Modified Audit Opinions

This session will discuss the different types of modified audit opinions and how to apply different types of opinions in different circumstances.

Venue: KPMG Professional Development Centre, 28th Floor, Oxford House, Taikoo Place, 979 King's Road, Island East, Hong Kong

Application deadline: 21 May 2008
Steve Ong
810
Tuesday
10 Jun 2008

Issues in Implementing HKFRSs - Part III

HKFRSs have been converged with IFRSs for 3 years. It is time to look at some common implementation issues in order to avoid making these mistakes and to improve the quality of financial reporting in Hong Kong. This session will cover implementation issues relating to HKAS 24 Related Party Disclosures, HKAS 28 Investments
in Associates and HKAS 36 Impairment of Assets.

Venue: KPMG Professional Development Centre, 28th Floor, Oxford House, Taikoo Place, 979 King’s Road, Island East, Hong Kong

Application deadline: 3 Jun 2008

Florence Wong
811
Tuesday
17 Jun 2008
Discussion Paper - Reducing Complexity in Reporting Financial Instruments

This session will outline some of the causes of complexity in reporting financial instruments and the possible intermediate and long-term approaches to reduce
complexity.

Application deadline: 11 Jun 2008
Steve Ong
812
Tuesday
24 Jun 2008
Points to Note for Auditors - Part I

This session will discuss some of the key issues on applying HKSQC 1 Quality Control for Firms That Perform Audits and Reviews of Historical Financial Information, and Other Assurance and Related Services Engagements.

Application deadline: 18 Jun 2008
Steve Ong
805B

Monday
30 Jun 2008
(Re-run)

HKAS 1 (Revised) Presentation of Financial Statements

This session will discuss the main changes from the previous version and the introduction of a statement of comprehensive income in preparation for 2009.

Venue: KPMG Professional Development Centre, 28th Floor, Oxford House, Taikoo Place, 979 King’s Road, Island East, Hong Kong

Application deadline: 24 Jun 2008

Steve Ong
813
Tuesday
8 Jul 2008

Points to Note for Auditors - Part II

This session will discuss the key principles of planning and finalisation of an audit and will cover HKSA 300 Planning an Audit of Financial Statements, HKSA 315 Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement, HKSA 330 The Auditor’s Procedures in Response to Assessed Risks, HKSA 570 Going Concern and HKSA 580 Management Representations.

 

Application deadline: 2 July 2008

Steve Ong
806B

Friday
11 Jul 2008
(Re-run)

FAQs on HKFRSs, HKSAs and HKICPA Code of Ethics

This session will highlight the frequently asked questions received by Standard Setting Department from the HKICPA’s technical enquiry system and go through a number of commonly asked questions, especially those received recently, and the staff responses to those questions.

Application deadline: 7 July 2008
Steve Ong
814
Tuesday
22 Jul 2008

Points to Note for Auditors - Part III

This session will focus on fraud consideration, auditing related party transactions and audit documentation. It will cover HKSA 230 Audit Documentation, HKSA 240 The Auditor’s Responsibilities to Consider Fraud in an Audit of Financial Statements and HKSA 550 Related Parties.

 

Application deadline: 16 July 2008

Steve Ong
815
Tuesday
29 Jul 2008

Issues in Implementing HKFRSs - Part IV

HKFRSs have been converged with IFRSs for 3 years. It is time to look at some common implementation issues in order to avoid making these mistakes and to improve the quality of financial reporting in Hong Kong. This session will cover implementation issues relating to HKAS 32 Financial Instruments: Presentation and HKAS 39 Financial Instruments: Recognition and Measurement.

 

Application deadline: 23 July 2008

Florence Wong
816
Tuesday
5 Aug 2008
Rescheduled to
21 Aug 2008

HK(IFRIC)-Int 13 Customer Loyalty Programmes

This session will discuss the accounting by entities that grant award credits to customers. HK(IFRIC)-Int 13 Customer Loyalty Programmes applies from 1 July 2008.

Venue changed to:
27/F, Wu Chung House, 213 Queen's Road East, Wan Chai, Hong Kong.

Application deadline: 30 July 2008

Florence Wong
817
Tuesday
12 Aug 2008

HKAS 27 (Revised) Consolidated and Separate Financial Statements

This session will contain an outline of the key changes in HKAS 27 that are effective for periods beginning on or after 1 July 2009 with an illustration of change in ownership interest of subsidiary.

 

Application deadline: 6 August 2008

Florence Wong
818
Tuesday
19 Aug 2008

HKFRS 3 (Revised) Business Combinations

This session will contain an outline of the key changes in HKFRS 3 that are effective for periods beginning on or after 1 July 2009.

 

Application deadline: 13 August 2008

Florence Wong
819
Tuesday
26 Aug 2008

Amendments to HKAS 32 Financial Instruments: Presentation and HKAS 1 Presentation of Financial Statements - Puttable Financial Instruments and Obligations Arising on Liquidation

This session will contain an outline of the key changes in HKAS 32 and HKAS 1 that are effective for periods beginning on or after 1 January 2009 and their application issues.

 

Application deadline: 20 August 2008

Florence Wong
802A

Friday
29 Aug 2008
(Re-run)

PN 820 (Revised) - The Audit of Licensed Corporations and Associated Entities of Intermediaries

This session will discuss the key changes of the revised Practice Note that has been updated in consultation with the Securities and Futures Commission in relation to the audit of licensed corporations and associated entities of intermediaries.

Application deadline: 25 August 2008
Steve Ong
812A

Tuesday
2 Sep 2008
(Re-run)
Rescheduled to
1 Sep 2008

Points to Note for Auditors - Part I

This session will discuss some of the key issues on applying HKSQC 1 Quality Control for Firms That Perform Audits and Reviews of Historical Financial Information, and Other Assurance and Related Services Engagements.

Venue: KPMG Professional Development Centre,
28th Floor, Oxford House, Taikoo Place, 979 King's Road, Island East, Hong Kong

Application deadline: 26 August 2008

Steve Ong
807A
Thursday
4 Sep 2008
(Re-run)

Issues in Implementing HKFRSs - Part I

 

HKFRSs have been converged with IFRSs for 3 years. It is time to look at some common implementation issues in order to avoid making these mistakes and to improve the quality of financial reporting in Hong Kong.

 

This session will cover implementation issues relating to HKFRS 3 Business Combinations.

Venue: KPMG Professional Development Centre,
28th Floor, Oxford House, Taikoo Place, 979 King's Road, Island East, Hong Kong

Application deadline: 29 August 2008

Florence Wong
808A
Tuesday
9 Sep 2008
(Re-run)

Issues in Implementing HKFRSs - Part II

 

HKFRSs have been converged with IFRSs for 3 years. It is time to look at some common implementation issues in order to avoid making these mistakes and to improve the quality of financial reporting in Hong Kong.

This session will cover implementation issues relating to HKAS 1 Presentation of Financial Statements, HKAS 14 Segment Reporting (replaced by HKFRS 8 Operating Segments), HKAS 18 Revenue and HKAS 21 The Effects of Changes in Foreign Exchange Rates.

 

Application deadline: 3 September 2008

Florence Wong
813A
Tuesday
30 Sep 2008
(Re-run)

Points to Note for Auditors - Part II

 

This session will discuss the key principles of planning and finalisation of an audit and will cover HKSA 300 Planning an Audit of Financial Statements, HKSA 315 Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement, HKSA 330 The Auditor’s Procedures in Response to Assessed Risks, HKSA 570 Going Concern and HKSA 580 Management Representations.

Venue: KPMG Professional Development Centre,
28th Floor, Oxford House, Taikoo Place, 979 King's Road, Island East, Hong Kong

Application deadline: 24 September 2008

Steve Ong
810A
Tuesday
14 Oct 2008
(Re-run)

Issues in Implementing HKFRSs - Part III

 

HKFRSs have been converged with IFRSs for 3 years. It is time to look at some common implementation issues in order to avoid making these mistakes and to improve the quality of financial reporting in Hong Kong.

This session will cover implementation issues relating to HKAS 24 Related Party Disclosures, HKAS 28 Investments in Associates and HKAS 36 Impairment of Assets.

 

Application deadline: 8 October 2008

Florence Wong
814A
Tuesday
21 Oct 2008
(Re-run)

Points to Note for Auditors – Part III

 

This session will focus on fraud consideration, auditing related party transactions and audit documentation. It will cover HKSA 230 Audit Documentation, HKSA 240 The Auditor's Responsibilities to Consider Fraud in an Audit of Financial Statements and HKSA 550 Related Parties.

 

Application deadline: 15 October 2008

Steve Ong
815A
Tuesday
28 Oct 2008
(Re-run)

Issues in Implementing HKFRSs - Part IV

 

HKFRSs have been converged with IFRSs for 3 years. It is time to look at some common implementation issues in order to avoid making these mistakes and to improve the quality of financial reporting in Hong Kong.

This session will cover implementation issues relating to HKAS 32 Financial Instruments: Presentation and HKAS 39 Financial Instruments: Recognition and Measurement.

 

Application deadline: 22 October 2008

Florence Wong
805C
Tuesday
11 Nov 2008
(Re-run)

HKAS 1 (Revised) Presentation of Financial Statements

  

This session will discuss the main changes from the previous version and the introduction of a statement of comprehensive income in preparation for 2009.

 

Application deadline: 5 October 2008

Steve Ong
817A
Tuesday
18 Nov 2008
(Re-run)

HKAS 27 (Revised) Consolidated and Separate Financial Statements

  

This session will contain an outline of the key changes in HKAS 27 that are effective for periods beginning on or after 1 July 2009 with an illustration of change in ownership interest of subsidiary.

 

Application deadline: 12 Nov2008

Florence Wong
818A
Tuesday
25 Nov 2008
(Re-run)

HKFRS 3 (Revised) Business Combinations

 

This session will contain an outline of the key changes in HKFRS 3 that are effective for periods beginning on or after 1 July 2009.

 

Application deadline: 19 Nov2008

Florence Wong
901
Tuesday
13 Jan 2009
HKFRSs Year End Update

This session will contain an outline of the key changes in HKFRSs that need to be applied in 31 Dec 2008 year-end reports.

Time: 19:00 - 20:00
Venue: HKICPA Training Centre, 27th Floor, Wu Chung House, 213 Queen's Road, Wan Chai, Hong Kong

Application deadline: 7 January 2009
Steve Ong
902
Thursday
5 Feb 2009
Alert on Going Concern and Liquidity Risk - HKSA 570 Going Concern

This session will discuss the auditor's responsibility in the audit of financial statements with respect to the going concern assumption used in the preparation of the financial statements, including considering management's assessment of the entity's ability to continue as a going concern

Time: 19:00 - 20:00
Venue: HKICPA Training Centre, 27th Floor, Wu Chung House, 213 Queen's Road, Wan Chai, Hong Kong

Application deadline: 30 January 2009
Steve Ong
903
Tuesday
3 Mar 2009
HKAS 1 (Revised) Presentation of Financial Statements

This session will discuss the main changes from the previous version and the introduction of a statement of comprehensive income in preparation for 2009.

Time: 19:00 - 20:00
Venue: HKICPA Training Centre, 27th Floor, Wu Chung House, 213 Queen's Road, Wan Chai, Hong Kong

Application deadline: 25 Feb2009
Steve Ong
904
Tuesday
24 Mar 2009
Amendments to HKAS 39 Financial Instruments: Recognition and Measurement and HKFRS 7 Financial Instruments: Disclosures - Reclassification of Financial Assets and Eligible Hedged Items and HK(IFRIC) - Int 16 Hedges of a Net Investment in a Foreign Operation

This session will discuss recently released changes to HKAS 39 and HKFRS 7 on the reclassification of financial assets and cover the application of hedge accounting in a one-sided risk in a hedged item and inflation in a financial hedged item.

Time: 19:00 - 20:00
Venue: HKICPA Training Centre, 27th Floor, Wu Chung House, 213 Queen's Road, Wan Chai, Hong Kong

Application deadline: 18 Mar 2009
Florence Wong
905
Tuesday
7 Apr 2009
Challenges in Auditing Fair Value Accounting Estimates - HKSA 545 Auditing Fair Value Measurements and Disclosures

This session will discuss the auditing of fair value measurements and disclosures, including audit considerations relating to the measurement, presentation and disclosure of material assets, liabilities and specific components of equity presented or disclosed at fair value in financial statements.

Time: 19:00 - 20:00
Venue: HKICPA Training Centre, 27th Floor, Wu Chung House, 213 Queen's Road, Wan Chai, Hong Kong

Application deadline: 1 Apr 2009
Steve Ong
906
Thursday
30 Apr 2009
HKAS 27 (Revised) Consolidated and Separate Financial Statements

This session will contain an outline of the key changes in HKAS 27 that are effective for periods beginning on or after 1 July 2009 with an illustration of change in ownership interest of subsidiary.

Time: 19:00 - 20:00
Venue: HKICPA Training Centre, 27th Floor, Wu Chung House, 213 Queen's Road, Wan Chai, Hong Kong

Application deadline: 24 Apr 2009
Florence Wong
901A
Tuesday
16 Jun 2009
HKFRSs Update

This session will contain an outline of the key changes in HKFRSs that need to be applied for accounting periods beginning on or after 1 January 2009.

Application deadline: 10 Jun 2009
Steve Ong
907
Tuesday
23 Jun 2009
Annual Improvements to HKFRSs 2008

This session will discuss the 35 improvement amendments made to HKFRSs effective on or after 1 January 2009.

Application deadline: 17 Jun 2009
Irene Leung
905A
Tuesday
14 Jul 2009
Challenges in Auditing Fair Value Accounting Estimates - HKSA 545 Auditing Fair Value Measurements and Disclosures

This session will discuss the auditing of fair value measurements and disclosures, including audit considerations relating to the measurement, presentation and disclosure of material assets, liabilities and specific components of equity presented or disclosed at fair value in financial statements.

Application deadline: 8 July 2009
Steve Ong
908
Tuesday
21 Jul 2009
2009 HKFRS 3 (Revised) Business Combinations

This session will contain an outline of the key changes in HKFRS 3 that are effective for periods beginning on or after 1 July 2009.

Application deadline: 15 July 2009
Irene Leung
909
Tuesday
11 Aug 2009
HKFRS 7 Financial Instruments: Disclosures

This session will discuss the application of the disclosure requirements for financial instruments in the financial statements.

Application deadline: 5 August 2009
Irene Leung
902A
Tuesday
25 Aug 2009
Alert on Going Concern and Liquidity Risk - HKSA 570 Going Concern

This session will discuss the auditor's responsibility in the audit of financial statements with respect to the going concern assumption used in the preparation of the financial statements, including considering management's assessment of the entity's ability to continue as a going concern.

Application deadline: 19 August 2009
Steve Ong
101
Tuesday
12 Jan 2010

New and revised HKFRS and HK(IFRIC) Interpretations

 

This session aims to give the participants an overview of the upcoming changes in standards and interpretations applicable to Dec 2009 year end and also those that have been issued but not yet effective for Dec 2009 year end. We will also briefly touch on some of the practical issues on application of existing HKFRSs/IFRSs.

 

Application deadline: 5 January 2010

Steve Ong
Winnie Chan
102
Tuesday
26 Jan 2010

Financial Statement Presentation: HKAS 1

We will revise with you the basic concepts on presentation of financial statements under HKAS 1 and explains the core principle and key changes to the standard effective 1 January 2009. This session aims to refresh the participants on some fundamentals on financial statements presentation as well as to keep them abreast of the consequential results on financial statements presentation for the IASB's project on performance reporting.

Application deadline: 12 January 2010

Steve Ong
Winnie Chan

103
Tuesday
23 Feb 2010

Annual Improvements for 2008 and 2009 

 

This session aims to provide an overview of the Improvements to HKFRSs issued in 2008 and 2009. Special sections relating improvements to HKAS 16, HKAS 17, HKAS 27, HKAS 28, HKAS 38 and HKAS 40 will be discussed.

 

Application deadline: 17 Feb 2010

Steve Ong
Winnie Chan
104
Tuesday
2 Mar 2010

Overview of IFRS/HKFRS 9

 

This session will bring to you the most current update on the replacement project of IAS/HKAS 39, specifically on HKFRS 9 Financial Instruments which was issued on Nov12, 2009 and which introduces new requirements for the classification and measurement of financial assets. Requirements covered in this newly published IFRS/HKFRS 9 will be discussed and their impacts will be explained.

 

Application deadline: 23 Feb 2010

Steve Ong
Winnie Chan
105
Tuesday
9 Mar 2010

Consolidated and Separate Financial Statements

 

This session aims to explore the key areas of change and complexity within HKAS 27 (revised) and increase ability of participants to obtain further understanding of this new HKFRS in dealing with issues arising from this standard.

 

Application deadline: 2 Mar 2010

Steve Ong
Winnie Chan
106
Tuesday
16 Mar 2010

Revenue: Recognition and Measurement

 

This session aims to explore the key areas of HKAS 18 and increase ability of participants to deal with issues arising from this standard. An overview of HK(IFRIC)-Int 13 Customer Loyalty Programmes, HK(IFRIC)-Int 15 Agreements for the Construction of Real Estate and HK(IFRIC)-Int 18 Transfers of Assets from Customers will also be introduced in this session.

Application deadline: 9 Mar 2010

Steve Ong
Winnie Chan
107
Tuesday
23 Mar 2010

Liabilities: An overview of HKAS 37

 

This session aims to explore the keys terms within the scope of HKAS 37 as well as an overview of the recognition criteria and measurement basis of a liability under HKAS 37. The objective is to increase ability of the participants to deal with issues arising from the standard.

Application deadline: 16 Mar 2010

Steve Ong
Winnie Chan
108
Tuesday
30 Mar 2010

Impairment of Non-current, Non-financial Assets: HKAS 36

 

This session aims to explore key areas of complexity and challenges within HKAS 36 on impairment of non-current, non-financial assets. Basic principles of impairment as well as different approaches for impairment testing under the provisions of HKAS 36 will be explained.

 

Application deadline: 23 Mar 2010

Steve Ong
Winnie Chan
109

13 Apr 2010

 

HKAS 16 Property, Plant and Equipment, HKAS 23 Borrowing Costs & HK(IFRIC)-Int 1 Changes in Existing Decommissioning, Restoration and Similar Liabilities

Steve Ong

Winnie Chan

110

20 Apr 2010

 

HKAS 2 Inventories
HKFRS 5 Non-current Assets Held for Sale and Discontinued Operations

Steve Ong

Winnie Chan

111

11 May 2010

 

HKAS 17 Leases

Steve Ong

Winnie Chan

112

18 May 2010

 

HKAS 11 Construction Contracts
HKAS 40 Investment Property

Steve Ong

Winnie Chan

113

25 May 2010

 

HKAS 38 Intangible Assets
HKAS 20 Accounting for Government Grants and Disclosure of Government Assistance

Steve Ong

Winnie Chan

114

8 Jun 2010

 

HKFRS 3 Business Combinations

Steve Ong

Winnie Chan

115

15 Jun 2010

 

HKAS 28 Investments in Associates
HKAS 31 Interests in Joint Ventures
HKAS 24 Related Party Disclosures

Steve Ong

Winnie Chan

116

29 Jun 2010

 

An overview of updates on new and amended HKFRSs and Interpretations (Re-run)

Steve Ong

Winnie Chan

117

6 Jul 2010

 

 

Overview of IFRS/HKFRS 9 Financial Instruments and new developments

Steve Ong

Winnie Chan

118 13 Jul 2010

 

HKAS 12 Income Taxes and HKAS 21 The Effects of Foreign Exchange Rate

Steve Ong

Winnie Chan

119

3 Aug 2010

 

HKAS 18 Revenue and new developments

Steve Ong

Winnie Chan

120

17 Aug 2010

 

HKAS 37 Provisions, Contingent Liabilities and Contingent Assets and new developments

Steve Ong

Winnie Chan

121

24 Aug 2010

 

Accounting Bulletin 4 "Guidance on the Determination of Realised Profits and Losses in the Context of Distributions Under the Hong Kong Companies Ordinance"

Steve Ong

Winnie Chan

122

21 Sep 2010

 

HKAS 36 Impairment of Assets and new developments

Steve Ong

Winnie Chan

123

28 September 2010

 

Practice Note 740 Auditor's letter on Continuing Connected Transactions under the Hong Kong Listing Rules

William Crowe

KPMG

124

12 October 2010

(Tuesday)

Update to Clarified Auditing Standards Steve Ong
125

25 October 2010

(Monday)

Update to Clarified Auditing Standards

(Re-run)

Steve Ong
126

9 November 2010

(Tuesday)

Update to Clarified Auditing Standards

(Re-run)

Steve Ong
127

16 November 2010

(Tuesday)

Update to Clarified Auditing Standards

(Re-run)

Steve Ong
128

30 November 2010

(Tuesday)

Practice Note 740 Auditor's letter on Continuing Connected Transactions under the Hong Kong Listing Rules

(Re-run)

William Crowe

KPMG

129

7 December 2010

(Tuesday)

Fraud and Going Concern Considerations with reference to HKSA 240 and HKSA 570 Steve Ong
130 11 Jan 2011 New and revised Accounting Standards/Guidance 2010/2011 Steve Ong / Winnie Chan
131 25 Jan 2011 Risk Assessments and Auditors' Responses under New Clarified HKSAs 540 and 550 Steve Ong / Winnie Chan
132 15 Feb 2011 Accounting for Financial Instruments (Part I) Steve Ong / Winnie Chan
133 22 Feb 2011

Accounting for Financial Instruments (Part II)

Steve Ong / Winnie Chan
134 8 Mar 2011

Fraud and Going Concern Considerations with reference to HKSA 240 and HKSA 570

Steve Ong / Winnie Chan
135 22 Mar 2011 Accounting for Group Accounts (Part I) Winnie Chan
136 29 Mar 2011 Accounting for Group Accounts (Part II) Winnie Chan
137 19 April 2011 (Tuesday) HKAS 12 Income Taxes and latest updates Winnie Chan
138 26 April 2011 (Tuesday) Practice Note 740 Auditor's letter on Continuing Connected Transactions under the Hong Kong Listing Rules (Re-run) Steve Ong
/ Ambrose Wong
139 3 May 2011 (Tuesday) New and revised Accounting Standards/Guidance 2010/2011 (Re-run) Steve Ong / Winnie Chan
140 31 May 2011 (Tuesday) HKSA 600 (Clarified) Special Considerations - Audits of Group Financial Statements (Including the Work of Component Auditors) Steve Ong
141 14 June 2011 (Tuesday) Accounting Bulletin 4 "Guidance on the Determination of Realised Profits and Losses in the Context of Distributions Under the Hong Kong Companies Ordinance" Steve Ong
142 21 June 2011 (Tuesday) HKFRS 9 Financial Instruments and latest updates Steve Ong / Winnie Chan
143 26 July 2011 (Tuesday) New and Revised Accounting Standards/Guidance 2010/2011 Steve Ong / Winnie Chan
144 27 September 2011 (Tuesday) HKSA 600 (Clarified) Special Considerations - Audits of Group of Financial Statements (Including the Work of Component Auditors) (re-run) Steve Ong/ Winnie Chan
145 4 October 2011 (Tuesday) New standards on consolidation, joint ventures and disclosure - HKFRS 10, 11 and 12 Steve Ong / Winnie Chan / Ben Lo
146 25 October 2011 (Tuesday) Accounting Bulletin 4 "Guidance on the Determination of Realised Profits and Losses in the Context of Distributions Under the Hong Kong Companies Ordinance" Steve Ong / Winnie Chan 
147 1 November 2011 (Tuesday) New and Revised Accounting Standards/Guidance for the year ending 31 December 2011 Steve Ong / Winnie Chan / Ben Lo
148 15 November 2011 (Tuesday) New standard on fair value measurement - HKFRS 13 Steve Ong / Winnie Chan / Ben Lo
149 6 December 2011 (Tuesday) Practical Application on HKFRS 3 and HKAS 27 on business combinations and consolidation Steve Ong / Winnie Chan
150

13 December 2011

(Tuesday)

HKFRS 9 Financial instruments and latest updates Steve Ong / Winnie Chan
151 11 November 2011 (Friday) New and Revised Accounting Standards/Guidance for the year ending 31 December 2011 (re-run) Steve Ong / Winnie Chan
152 20 December 2011 (Tuesday) New standards on consolidation, joint ventures and disclosure - HKFRS 10, 11 and 12 (re-run) Steve Ong / Winnie Chan / Ben Lo
153 16 January 2012 (Monday) New and Revised Accounting Standards/Guidance 2011/2012 (Re-run) Steve Ong / Winnie Chan
154 31 January  2012(Tuesday) New standards on consolidation, joint ventures and disclosure - HKFRS 10, 11 and 12 (Re-run) Steve Ong / Ben Lo
155 21 February 2012 (Tuesday) Accounting Bulletin 4 "Guidance on the Determination of Realised Profits and Losses in the Context of Distributions Under the Hong Kong Companies Ordinance" (Re-run) Steve Ong / Winnie Chan
156 28 February 2012 (Tuesday) New standard on fair value measurement - HKFRS 13 (Re-run) Steve Ong / Ben Lo
157 13 March 2012 (Tuesday) HKSA 600 (Clarified) Special Considerations - Audits of Group of Financial Statements (Including the Work of Component Auditors) (Re-run) Steve Ong / Winnie Chan
158

20 March 2012

(Tuesday)

HKFRS 9 Financial instruments and latest updates (Re-run) Steve Ong / Winnie Chan
159

27 March 2012

(Tuesday)

New and Revised Accounting Standards/Guidance 2011/2012 (Re-run) Steve Ong / Winnie Chan
160

3 April 2012

(Tuesday)

New standards on consolidation, joint ventures and disclosure - HKFRS 10, 11 and 12 (re-run) Ben Lo
161

17 April 2012

(Tuesday)

Applications of HKFRSs - commonly asked questions Winnie Chan
162

24 April 2012

(Tuesday)

Ethics Circular 1 - Guidance for Small and Medium Practitioners on the Code of Ethics for Professional Accounts Ambrose Wong
163 22 May 2012 Application of HKFRS 2 Share-based Payments Candy Fong (Deloitte)
164 25 May 2012 New standard on fair value measurement - HKFRS 13 (Re-run) Ben Lo / Eky Liu
165 29 May 2012 Ethics Circular 1 - Guidance for Small and Medium Practitioners on the Code of Ethics for Professional Accounts Ambrose Wong
166 5 June 2012 Audit and Beyond: How to do a even better job on auditing through a closer look at the implementation of the Hong Kong Auditing Standards Winne Chan 
167 19 June 2012 Guardian Role of Professionals in Upholding Ethical Governance
Representative from Hong Kong Ethics Development Centre, ICAC)
168 26 June 2012 Ethics Circular 1 - Guidance for Small and Medium Practitioners on the Code of Ethics for Professional Accountants (Re-run) Ambrose Wong
169 31 July 2012 Impact of Cloud Computing on Financial Reporting Mr. Yin Toa Lee, Ernst & Young
170 7 August 2012 HKAS 36 Impairment of Assets Ben Lo / Eky Liu
171 4 September 2012 New standards on consolidation, joint ventures and disclosure - HKFRS 10, 11 and 12 (re-run) Ben Lo / Eky Liu
172 18 September 2012 Ethics Circular 1 - Guidance for Small and Medium Practitioners on the Code of Ethics for Professional Accountants (Re-run) Ambrose Wong
173 21 August 2012 An interim checkpoint on New and Revised Accounting Prouncements as at 30 June 2012 Winnie Chan
174 20 September 2012 Presentation and disclosures of financial instruments - Impacts of HKFRS 7 Winnie Chan
175 22 October 2012 Introduction into internal controls: Concepts and what it may mean to you

David F. Samy  /
Edmond Kuo
(Ernst & Yoing)

176 16 October 2012

Audit and Beyond: A closer look at the implementation of the Clarified Hong Kong Auditing Standards (Re-run)

Winnie Chan
177 25 October 2012 New standard on fair value measurement - HKFRS 13 (Re-run) Ben Lo / Eky Liu
178 20 November 2012

New standard on consolidation, joint ventures and disclosure - HKFRS 10, 11 and 12 (Re-run)

Ben Lo
179 4 December 2012

Guardian Role of Professionals in Upholding Ethical Governance (Re-Run)

 

Presenter: Representative from Hong Kong Ethics Development Centre, ICAC

180 11 December 2012 An Overview of Hedge Accounting under HKAS 39
Presenter: Ms. Teo Chew Ping, Partner of Deloitte
1301 8 January 2013 Application issues on HKAS 12 Income Taxes Ms. Candy Fong, Technical Partner, Deloitte Touche Tohmatsu
1302 22 January 2013 Leaseholds revisited – latest developments in the IASB's quest to revise IAS 17

Simon Riley

1303 18 February 2013 IFRS 9: What to expect from changes to classification & measurement and impairment Mr. Yin Toa Lee, 
Partner, Ernst & Young
1304

12 March 2013
(Cantonese Session)

Guardian Role of Professionals in Upholding Ethical Governance (Re-Run)
Presenter: Representative from Hong Kong Ethics Development Centre, ICAC
1305 26 March 2013 A checkpoint on new and revised financial pronouncements as at 31 December 2012 Winnie Chan
1306 16 April 2013

Common application issues on HKFRS

Presenter: Joel Chan, Partner, RSM Nelson Wheeler
1306 9 April 2013
(Presenter: Mr. Yin Tao Lee, Partner, Ernst & Young)
New standards on consolidation, joint ventures and disclosures (Re-run) – with update on transition guidance and investment entities

Ben Lo 

Eky Liu

1308 14 May 2013 Getting familiar with internal controls
Presenters:
David Samy, Executive Director and Angel Chong, Manager, Ernst & Young
1309 11 June 2013 Guardian Role of Professionals in Upholding Ethical Governance (Re-Run) Presenter: Representative from Hong Kong Ethics Development Centre, ICAC
1310 30 July 2013
Code of Ethics for Professional Accountants

Topics to be covered include:
  • Fundamental principles;
  • Common questions by small and medium sized practitioners; and
  • Current developments in ethics standard setting

Simon Riley

Ambrose Wong

1311 20 August 2013 Application of HKFRS 2 Share-based Payment (Re-run) Candy Fong
Partner, Deloitte
1312 23 September 2013 Common application issues on HKFRS (Re-run) Joel Chan
Partner, RSM Nelson Wheeler
1313 12 September 2013 Derivatives
  • What are derivatives?
  • How to identify derivatives?
  • How to account for derivatives?
  • Embedded derivatives – closely related or not?
Ada Siu, Senior Manager, PricewaterhouseCoopers
1314 22 October 2013

Compound financial instruments

  • What are compound instruments?
  • How to identify and classify each component?
  • How to allocate the considerations to each component?
Ada Siu, Senior Manager, PricewaterhouseCoopers
1315 17 December Accounting for Financial Instruments: Hedge accounting Ada Siu, Senior Manager, PricewaterhouseCoopers
1316 3 September 2013
Code of Ethics for Professional Accountants (Re-run)

Topics to be covered include:
  • Fundamental principles;
  • Common questions by small and medium sized practitioners; and
  • Current developments in ethics standard setting
Simon Riley
Ambrose Wong
1317 9 September 2013 An Overview of Hedge Accounting under HKAS 39 (Re-run)

Teo Chew Ping, Partner

Deloitte

1318 5 December 2013 Overview of HKAS 8 Accounting Policies, Changes in Accounting Estimates and Errors Eros Lau, Partner,
Deloitte Touche Tohmatsu
1319 10 December 2013 Getting familiar with internal control (Re-run)

David Samy, Partner, EY

Angel Chong, Senior Manager, EY

Jeffry Lau, Manager, EY

1401 28 January 2014 Common HKFRS application issues Gary Stevenson, Director, Technical & Training, BDO Limited
1402 7 February 2014 Basic principles and insights on Fair value measurements Eros Lau, Partner and Edwina Tam, Principal, Deloitte
1403 11 February 2014 New Companies Ordinance – Financial reporting issues Paul Yeung, Technical Director and Benny Tang, Manager, PKF Hong Kong
1404 18 February 2014

A checkpoint on new and revised accounting pronouncements as at 31 December 2013

Winnie Chan, Associate Director and Eky Liu, Manager, Standard Setting, HKICPA
1405 25 February 2014 Practical guidance in preparing financial statements for 2013

Joel Chan, Quality Assurance Partner,
Zhonghui Anda CPA Limited

1406 4 March 2014 HKFRS/IFRS 9 New Hedge Accounting Model Yin Toa Lee, Partner, EY
1407 1 April 2014 New Companies Ordinance – Financial reporting issues Paul Yeung, Technical Director and Benny Tang, Manager, PKF Hong Kong
1408 25 March 2014 Getting Practical with Internal Control
David Samy, Partner and Bernadette Lo, Manager, EY Advisory Services Limited
1409 20 March 2014

Common questions by SMPs when applying Code of Ethics for Professional Accountants (Re-run)

Topics to be covered include:

  • Fundamental principles;
  • Common questions by small and medium sized practitioners; and
  • Current developments in ethics standard setting
Simon Riley, Head of Professional Services, BDO Limited and Ambrose Wong, Associate Director of Standard Setting, HKICPA
1410 13 May 2014

Revised Small and Medium-sized Entity Financial Reporting Framework and Financial Reporting Standard

 

[E-seminar will be developed on the topic. The Institute's Technical Learning and Support Unit will also organize additional seminars on the subject.]

Catherine Morley, Chairman of HKICPA Financial Reporting Standards Committee and SME-FRF & SME-FRS Working Group
1411 15 April 2014 Islamic Finance AB Nasir, Founding Principal, Nasirs®
1410 13 May 2014

Revised Small and Medium-sized Entity Financial Reporting Framework and Financial Reporting Standard

 

[E-seminar will be developed on the topic. The Institute's Technical Learning and Support Unit will also organize additional seminars on the subject.]

Catherine Morley, Chairman of HKICPA Financial Reporting Standards Committee
1412 20 May 2014

Common questions by SMPs when applying Code of Ethics for Professional Accountants (Re-run)

Topics to be covered include:

  • Fundamental principles;
  • Common questions by small and medium sized practitioners; and
  • Current developments in ethics standard setting
Simon Riley, Head of Professional Services, BDO Limited and Ambrose Wong, Associate Director of Standard Setting, HKICPA
1413 27 May 2014 Getting Practical with Internal Control (Re-run) David Samy, Partner and Paulo Chak, Manager, EY Advisory Services Limited
1414 13 June 2014 Revised Small and Medium-sized Entity Financial Reporting Framework and Financial Reporting Standard (Re-run) Nelson Lam, Deputy Chairman of HKICPA Financial Reporting Standards Committee and Chairman of SME-FRF & SME-FRS Working Group
1415 9 July 2014 Practical guidance in preparing financial statements for 2013 (Re-run) Joel Chan, Quality Assurance Partner, Zhonghui Anda CPA Limited
1416
[Cantonese class]
29 July 2014 (Tuesday) New Companies Ordinance – impact on directors' duties
Charles Chan, Chairman and CEO, Crowe Horwath (HK) CPA Limited
1417[Cantonese class] 12 August 2014 (Tuesday) New Companies Ordinance – from company secretarial perspective Susan Lo, Executive Director and Eva Ngai, Director, Corporate Services, Tricor Services Limited
1418
[English class]
19 August 2014 (Tuesday) New Companies Ordinance – implication on financial reporting William Lim, Technical Partner, Deloitte
1419[Cantonese class] 26 August 2014 (Tuesday) Revised SME-FRF & SME-FRS Winnie Chan, Associate Director and Eky Liu, Manager, HKICPA
1420 11 September 2014 (Thursday)

Common questions by SMPs when applying Code of Ethics for Professional Accountants (Re-run)

Topics to be covered include:
- Fundamental principles;
- Common questions by small and medium sized practitioners; and
- Current developments in ethics standard setting

Simon Riley, Head of Professional Services,
BDO Limited and Ambrose Wong, Associate Director of Standard Setting, HKICPA
1421 [cancellation] 30 September 2014 Overview of the new revenue standard – HKFRS 15/IFRS 15 Candy Fong, Technical Partner, Deloitte
1422 28 October 2014 Guardian Role of Professionals in Upholding Ethical Governance (Re-run) Representative from Hong Kong Ethics Development Centre, ICAC
1423 11 November 2014

Common questions by SMPs when applying Code of Ethics for Professional Accountants (Re-run)
Topics to be covered include:

- Fundamental principles;

- Common questions by small and

      medium sized practitioners; and

- Current developments in ethics standard

      setting

Simon Riley, Head of Professional Services, BDO Limited and Ambrose Wong, Associate Director of Standard Setting, HKICPA
1424 19 November 2014

Accounting for Financial Instruments

- Derivatives

- Compound financial instruments

Ada Siu, Senior Manager, PricewaterhouseCoopers
1425 2 December 2014

Accounting for Financial Instruments

- Hedge accounting

Ada Siu, Senior Manager, PricewaterhouseCoopers
1426 29 December 2014

Overview of the new revenue standards

-HKFRS15/IFRS 15

Candy Fong, Technical Partner, Deloitte Touche Tohmatsu
1501

20 January 2015

Guidance on preparation of combined financial statements

Shelley So, Partner and Anuj Puri, Senior Manager, PricewaterhouseCoopers
1502

27 January 2015

[Cantonese session]

Practical Issues on HKFRS Joel Chan, Quality Assurance Partner, Zhonghui Anda CPA Limited
1503

6 February 2015

Common questions by SMPs when applying Code of Ethics for Professional Accountants (Re-run)

Topics to be covered include:

-Ÿ   Fundamental principles;

-Ÿ   Common questions by small and medium sized practitioners; and

Current developments in ethics standard setting
Simon Riley, Head of Professional Services, BDO Limited and Ambrose Wong, Associate Director of Standard Setting, HKICPA
1504

1 April 2015

 

[Cantonese]

Guardian Role of Professionals in Upholding Ethical Governance (Re-run)

 

The seminar will be held from 6:30 p.m. to 8:30 p.m. It will include a 30-minute tour visit of the exhibition hall of ICAC Headquarters and a 90-minute presentation.

 

Representative from Hong Kong Ethics Development Centre, ICAC

1505 5 May 2015

Environmental, Social and Governance Reporting

- Does it affect the value of the company?

Stella Law, Director of Crowe Horwath (HK) Consulting & Valuation Limited
1507 19 May 2015 New accounting requirements for 2015: Are you prepared? Sanel Tomlinson, Partner, Professional Practice, Accounting, KPMG
1506 22 June 2015

Guardian Role of Professionals in Upholding Ethical Governance (Re-run)

Representative from Hong Kong Ethics Development Centre, ICAC

1508 23 June 2015 Risk Management and Internal Control of The Corporate Governance Code and Corporate Governance Report Ricky Cheng, BDO, Director, Risk Advisory Services
1509 21 July 2015

Common questions by SMPs when applying Code of Ethics for Professional Accountants (Re-run)

 

Topics to be covered include:

-  Fundamental principles;

- Common questions by small and      Medium sized practitioners; and

- Current developments in ethics standard setting

 

Eky Liu, Associate Director, Standard Setting of HKICPA
1510

18 Aug 2015

(6:30pm-8:30pm)

TUE Sessions on Convertible Instruments: Common issues and applications

- Part 1: Accounting for a Convertible Instrument - a Holder and an Issuer

Fran Hung, Partner, Audit, Deloitte China

1511

27 Aug 2015

(6:30pm-8:30pm)

TUE Sessions on Convertible Instruments: Common issues and applications

- Part 2: Accounting for a Convertible Instrument - Common Issues Encountered and Structuring with Deliberations

Fran Hung, Partner, Audit, Deloitte China

1512 31 Aug 2015

Part 9: Preparation of Financial Statements

Candy Fong, Technical Partner, Deloitte
1513 4 Sep 2015 Business Review and Specified Financial Statements and Non-statutory Accounts
Ernest Lee, Partner, Professional Practice, Ernst & Young, China
1514 8 Sep 2015 The revised SME-FRF and SME-FRS
Winnie Chan, Associate Director and Grace Lau, Manager, HKICPA
1515 18 Sep 2015 Companies Ordinance (Cap 622)
– sharing of experience on new practices

Susan Lo, Executive Director and Eva Ngai, Director, Corporate Services, Tricor Services Limited

1516 27 October 2015 TUE series on application of new and revised HKFRS/IFRS for 2015 William Lim, Technical Partner, Deloitte China
1517 20 October 2015 TUE session on IPO Property Valuation Exercise in the Hong Kong Stock Exchange and Common Financial Instruments Valuation during an IPO

Leo Lo
Director, Crowe Horwath (HK) Consulting & Valuation Limited

 

Stella Law
Director, Crowe Horwath (HK) Consulting & Valuation Limited

1519 10 November 2015 Industry Update Relating to Investment Funds

Janet Cheung
Partner, Head of Valuation and Modelling
KPMG

 

Trevor Lee
Director, Investment Products
Securities and Futures Commission

 

Wynnie Yeung
Senior Manager, Supervision Division
Mandatory Provident Fund Schemes Authority

1518 9 Decembr 2015

Guardian Role of Professionals in Upholding Ethical Governance (Re-run)

 

[This seminar will be held from 6:30 pm to 8:30 pm. It will include a 30-minute tour visit of the exhibition hall of ICAC Headquarter and a 90-minute presentation.]

Representative from Hong Kong Business Ethics Development Centre, ICAC
1520 24 November 2015 TUE session on Accounting for Share-Based Payment Awards Under IFRS/ HKFRS 2

Timothy Lee
Senior Manager, Capital Markets and Accounting Advisory Services
PricewaterhouseCoopers

 

Lynne James
Senior Manager, Capital Markets and Accounting Advisory Services
PricewaterhouseCoopers

1521 14 December 2015 Seminar on revised Auditor's Report

Gayle Donohue
Partner

PwC

Paul Hebditch
Partner
Ernst & Young

 

Yvette Tan
Director

KPMG

1522 15 December 2015 TUE session on IFRS/HKFRS 9 Financial Instruments

Bronte Jim

Senior Manager, Accounting Advisory Services

PricewaterhouseCoopers

1601 1 March 2016
(Tuesday)

Overview of new and revised HKFRS for 2015

- Entities preparing their annual financial statements for 2015 will be considering the consequential effects of the newly effective standards and requirements. This session provides an opportunity to refresh your knowledge and will highlight the new and revised standards issued but not yet effective in order to help you plan your implementation work early.

Winnie Chan

Grace Lau

1602 8 March 2016
(Tuesday)

Hong Kong Financial Reporting Standard for Private Entities and the 2015 amendments

 

- In 2015, IASB has made limited amendments to the IFRS for SMEs. The Institute has adopted those amendments in HKFRS for Private Entities which will be effective for annual periods beginning on or after 1 January 2017. This session provides an overview of the HKFRS for Private Entities as well as the 2015 amendments.

Winnie Chan

Grace Lau

1603 18 March 2016
(Friday)

The Small and Medium-sized Entity Financial Reporting Framework and Financial Reporting Standard (SME-FRF & SME-FRS)(Revised 2014)


The Institute has issued the SME-FRF & SME-FRS (Revised) in March 2014 to align with the requirements of the new Hong Kong Companies Ordinance (Cap. 622). This seminar provides an outline of the qualifying criteria to apply the revised SME-FRF and SME-FRS and the main changes of
the standard.

Winnie Chan

Grace Lau

1604 23 February 2016 Seminar on AATB 1 - Assistance Options to New Applicants and Sponsors in connection with Due Diligence Obligations, including Internal Controls over Financial Reporting

Chairperson:

Mr. Paul Lau
Partner, Head of Capital Markets Advisory Group
KPMG

 

Speakers:

Ms. Katharine Wong
Partner, Capital Markets Advisory Group
KPMG

 

Mr. Matt Emsley
Head of corporate, Greater China
Herbert Smith Freehills

1605 3 March 2016 Common questions by SMPs when applying Code of Ethics for Professional Accountants (Re-run)
Topics to be covered include:
- Fundamental principles;
- Common questions by small and Medium sized practitioners; and
- Current developments in ethics standard setting
Eky Liu
1606 30 June 2016 Guardian Role of Professionals in Upholding Ethical Governance (Re-run) Representative from Hong Kong Business Ethics Development Centre, ICAC
1607 31 May 2016 Revised Auditor's Report (Re-run)

Gayle Donohue
Partner

PwC

Paul Hebditch
Partner
Ernst & Young

 

Yvette Tan
Director

KPMG

1608 26 July 2016 Practical application issues on the new HKFRSs and the Companies Ordinance

Nelson Lam

Chairman

Nelson CPA Limited

1609 19 July 2016

Financial Instruments: Liabilities or Equity Classification:Common issues and applications

 

Part 1: Classifications as liabilities or equity: Requirements of HKAS 32,HKAS 39
/HKFRS 9?

Candy Fong
Member of HKICPA Financial Reporting Standards Committee
1610

28 July 2016

[Reschedule to
23 August 2016}

Financial Instruments: Liabilities or Equity Classification: Common issues and applications

 

Part 2: Accounting for Convertible Instrument - Common Issues Encountered and Structuring with Deliberations

Candy Fong
Member of HKICPA Financial Reporting Standards Committee
1611 18 October 2016 Regulatory Update on Securities Market

Mr. Stephen Po
Senior Director
Intermediaries Supervision
Securities and Futures Commission


Mr. Frankie Fan
Senior Manager
Intermediaries Supervision
Securities and Futures Commission


Mr. Ivan Wan
Senior Manager
Intermediaries Supervision
Securities and Futures Commission

1612 25 October 2016 Latest updates of The International Valuation Standards and  impacts on fair value measurement

Ms. Stella Law

Director of Crowe Horwath (HK) Consulting & Valuation Limited

1613 8 December 2016 Guardian Role of Professionals in Upholding Ethical Governance (Re-run) Representative from Hong Kong Business Ethics Development Centre, ICAC
1614 16 November 2016

Technical seminars: HKFRS 15 Revenue from Contracts with Customers

- Overview and fundamentals of HKFRS 15

Nelson Lam

Chairman, Nelson CPA Limited

1615 29 November 2016

Technical seminars: HKFRS 15 Revenue from Contracts with Customers

- Practical and complex issues in applying HKFRS 15

Nelson Lam

Chairman, Nelson CPA Limited

1616 8 November 2016 THE LONG-FORM AUDITORS' REPORT – what does it mean for this year's audit?

Candy Fong

William Lim

1617 16 December 2016 2016 Financial Reporting Update-Application issues of HKFRS 15, HKFRS 9 and new and revised HKFRSs for 2016 financial year-end

Mr. Peter Telders
Partner, Ernst & Young

Mr. Jonathan Kent-Uritam
SeniorManager, Ernst & Young

 

Mr. Joseph Lee
Head, Trustee Supervision
Mandatory Provident Fund Schemes Authority

 

Ms. Virginia Choi Ping Noronha
Director, Investment Products Division
Securities and Futures Commission

1618 24 November 2016 Industry Update Relating to Investment Fund

Mr. Andy Wong

Mr. Samson Lee

1701 6 January 2017 Technical seminars on listing on the Hong Kong Stock Exchange:Preparation of accountants’ report for notifiable transactions and IPO

Mr. Andy Wong

Mr. Samson Lee

1702 17 January 2017 Technical seminars on listing on the Hong Kong Stock Exchange: Work of reporting accountants for notifiable transactions and IPO

Mr. Andy Wong

Mr. Billy Lau

1703 7 February 2017 Understanding the revised auditor's report and treatment of Key Audit Matters Ms. Loretta Fong
1704 25 April 2017 Guardian Role of Professionals in Upholding Ethical Governance Representative from Hong Kong Business Ethics Development Centre, ICAC
1706 7 July 2017 Application issues of HKFRS 15 Mr. William Lim
1707 (cancellation) 21 July 2017 Guardian Role of Professionals in Upholding Ethical Governance

Representative from Hong Kong Business Ethics Development Centre, ICAC

1708 24 July 2017 IFRS 17 "Insurance contracts" in a nutshell

Nelson Lam

Nelson CPA Limited

1709 31 October 2017 Guardian Role of Professionals in Upholding Ethical Governance

Representative from Hong Kong Business Ethics Development Centre, ICAC

1710 24 October 2017 Technical seminar: Updates and application of new and revised HKFRSs for 2017

Nelson Lam

Nelson CPA Limited

1711 5 December 2017

Guardian Role of Professionals in Upholding Ethical Governance

 

[This seminar will be held from 6:30 pm to 8:30 pm at ICAC Headquarter. It will include a 30-minute tour visit of the exhibition hall of ICAC Headquarter and a 90-minute presentation.]

Representative from Hong Kong Business Ethics Development Centre, ICAC

1712 29 December 2017 Technical Update Evening: Transitioning to HKFRS 9 Candy Fong
SCPD18011701 17 January 2018 HKFRS 16 "Leases" -Fundamental Concepts Seminar

Sanel Tomlinson, Partner, KPMG

Mimi Ho, Senior Manager, KPMG

SCPD18022301 23 February 2018 Companies Ordinance (Cap. 622) in financial reporting – Are you familiar with the requirements? Ms. Dilys Cheng
Partner, Assurance, PricewaterhouseCoopers

 

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