Issue No. 141 (October 2024)

CPA Insights

Taxing times

Having worked in the private sector and for the government, Giselle Ng has experienced taxation from both sides of the fence.

Giselle might be a Tax Consultant at the conglomerate John Swire & Sons, and previously spent over five years working at the Inland Revenue Department of the Hong Kong government – but she says it's a surprise she ended up as an accountant in the first place.

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Tech Source

Hong Kong's family office regime poised to draw Asia's wealth

A look at whether, and to what extent, Hong Kong's newly created family office regime makes the city a highly competitive family office location.

This article was first published in A Plus Issue October 2023

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Student Matters

Top students and QP graduates of the June 2024 session

Congratulations to the 391 QP graduates who have successfully completed the QP, including the 13 candidates who were awarded the top student prize of the June 2024 session.

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HKICPA QP Top Student and BAFS Student Award Ceremony 2024

About 150 guests, including our friends from academia and sponsors joined the HKICPA QP Top Student and BAFS Student Award Ceremony 2024 on 21 September, sharing in the pride and joy of students who received awards and scholarships. We were honoured to have Mr. Joseph H.L. Chan, JP, Under Secretary for Financial Services and the Treasury as guest of honour to present awards to the outstanding students.

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Enhancements to the Qualification Program

We're thrilled to share enhancements to the Qualification Program (QP) aimed at improving attractiveness of the accounting profession and flexibility of the QP. These enhancements feature updated module exemptions and practical experience requirements to facilitate your QP progress. You can also look forward to computer-based exams, paperless learning, and the introduction of the Certificate in Accounting and Business in 2025.

Additionally, don't forget the exam support we offer to help you succeed in QP exams, including Masterclasses, the List of Current Hot Topics, and exam preparation resources on the QP Learning Centre. For more information, please refer to the full announcement.

Friendly reminders - Practical experience

A warm welcome to the 6 Authorized Employers and 17 Authorized Supervisors ("AS") who have recently joined the Institute's practical experience framework!

Newly registered QP students can now count up to 12 months of prior work experience towards the practical experience requirements before registering as a QP student. For the detailed criteria, please refer to FAQ 23 for the illustrative example.

Regular communication with your Counselor/ AS is crucial in supporting your technical and enabling competences development. Remember to meet with your Counselor/ AS to discuss training progress and update the Training Records on a regularly basis.

For students who have already completed the QP with sufficient practical experience for membership admission, remember to submit your membership applications on or before 6 January 2025.

Friendly reminders - Workshop rules and examination regulations

This is a reminder to students to take a moment and read through the Workshop Rules in section 3.8.1 and the Examination Regulations in section 3.9.3 of the QP Student Handbook. Highlights regarding the rules and regulations include:

Several cases of violation of QP examination regulations were identified in the June 2024 Session. Disciplinary actions were imposed on the convicted students, including:

Marks penalty in examinations from the students' results of the relevant paper for repeated violation of examination regulations.
Warning letters were issued to students who had violated examination regulations for the first time, including using the wrong answer booklets, failing to produce the printout of the docket, writing the name on the cover/ in the answer booklets, failing to write answers in black/ blue ink, etc.

In the current educational environment, AI tools can be beneficial for students seeking to enhance their research efforts. While students may use AI tools to assist with research and information gather for QP workshops, they are not allowed to use AI to directly generate answers or solutions for workshop questions and tasks. Students are also prohibited from copying and pasting the workshop case background and requirements into AI tools as this would compromise the confidentiality of the workshop content and may result in disciplinary actions.

Please remember that it is important to adhere to all Workshop Rules and Examination Regulations to avoid unnecessary penalties.

Highlight

Opening hours of the library and study room during Dec 2024 exam session

Date: 04 Nov 2024 - 27 Dec 2024

Monday - Friday: 09:00 - 20:00

Saturday: 09:00 - 12:00

Sunday & Public Holidays: Closed

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