NAVIGATION

Best Corporate Governance and ESG Awards 2024

The Institute successfully concluded its Best Corporate Governance and ESG Awards 2024 (Awards) with the presentation luncheon ceremony taking place at the JW Marriott Hotel on 25 November 2024, in a celebratory and enjoyable atmosphere. Visit the webpage for details.

To see the full list of award winners and insights into their achievements, as well as general observations on current standards of corporate governance and environmental, social and governance practices in Hong Kong, check the Judges’ Report. Additionally, you can view more photographs from the presentation ceremony in our gallery.

Alongside the Awards, the Institute conducted a research on the prevalence and quality of information technology and cybersecurity-related disclosures in annual and sustainability/ ESG reports, among the 82 Hang Seng Index companies. Please refer to the cybersecurity report for insights into this research.

Reminder: Upcoming live webinars on financial reporting

Don’t miss the following upcoming live webinars to stay updated on the latest developments in financial reporting standards.

11 December 2024: Common application issues of HKFRSs
21 January 2025: Accounting updates for Small and Medium-sized entities

Institute submission

The Institute has submitted its comment letter on the International Accounting Standards Board (IASB) Exposure Draft Climate-related and Other Uncertainties in the Financial Statements.

IASB November 2024 podcast and update

The IASB podcast, highlighting preliminary decisions of the IASB at its November meeting, and a summary of the November meeting, are now available.

Invitation to comment

The Institute has issued the following exposure drafts and would like to seek your comments by the respective due dates:

Proposed Amendments to Hong Kong Standard on Auditing 700 (Revised), Forming an Opinion and Reporting on Financial Statements and Proposed Conforming and Consequential Amendments to Other Hong Kong Standards on Auditing and Other Non-authoritative Materials by 15 December. It proposes disclosing the auditor’s name and practising certificate number in the auditor’s report for an audit of an entity’s financial statements prepared for reporting under the laws and regulations in Hong Kong conducted by a practice unit in accordance with Hong Kong Standards on Auditing.
Exposure Draft, PN 860.1 (Revised), The Audit of Retirement Schemes by 15 December. The revised practice note reflects the implementation of eMPF due to the amended Mandatory Provident Fund Schemes Ordinance and relevant guidelines.

Future of sustainability assurance engagements

The International Federation of Accountants and Accountancy Europe co-hosted the webinar “Shaping the Future of Sustainability Assurance Engagements” which explored the vital role of professional standards in sustainability assurance. Check out the webinar for more details.

Considerations for auditing cryptocurrencies

The publication by the Institute of Chartered Accountants in England and Wales (ICAEW) highlights common risks in the audit of cryptocurrencies and provides examples of procedures that can be performed to address these risks.

If you are interested in accessing the ICAEW’s online audit and assurance resources, please contact the Member Engagement Department at me@hkicpa.org.hk for free enrolment on a first-come, first-served basis. Spots are limited. Please note that your name and email address will be shared with the ICAEW for communication purposes.

HKICPA resource centre

Access resources and publications at the Institute’s Resource Centre to the Code which will keep you updated on the latest ethics pronouncements. Watch this video showcasing how to easily access these valuable resources.

The Institute’s Ethics Committee meeting

Minutes of the 265th meeting are now available.

Webinar series - Perspectives on sustainability disclosure

In the upcoming Episode 6 of the webinar series, "Making the transition from TCFD recommendations to ISSB standards", experts from the International Sustainability Standards Board (ISSB) and stakeholders will discuss findings from the IFRS Foundation's Progress on Corporate Climate-related Disclosures—2024 Report. This episode will also cover how companies can prepare their disclosures to comply with the ISSB standards. Click here to register or view past episodes.

ISSB November 2024 podcast and update

In the podcast, the ISSB chair and vice-chair share insights into recent developments from the ISSB and an update from the ISSB’s November meeting. In addition, a summary of the November meeting is now available.

Official Receiver’s Office Circular No.1/2024

The Official Receiver’s Office (ORO) has issued a circular for the attention of insolvency practitioners, regarding payments to the Companies Liquidation Account and special and ordinary bank accounts, pursuant to section 202 of the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap. 32). For any questions related to this circular, please contact Mr. Patrick Chan of the ORO at 2867 2515.

Announcements by the Inland Revenue Department

Members may wish to be aware of the following matters:

Announcements by the government

Members may wish to be aware of the following matters:

Anti-money laundering (AML) notices and news

AML notices:

For the current lists of terrorists, terrorist associates and relevant persons/ entities under United Nations sanctions, members should refer regularly to the Institute's AML webpage. Other useful documents and guidance can also be found on the same page.

Other AML news:

Hong Kong Customs detects money laundering case involving $53 million following narcotics investigation

Publications from other organizations:

Companies are slow to embrace the innovative potential of GenAI: report from CFO.com
How to position your business for success this holiday season by investing in your employees and community from Entrepreneur.com
Financial controllers brace for significant changes from Financial Management
Managing change: 3 strategies to avoid a tech transformation tailspin from Journal of Accountancy
How to get more value from your new tech? Five technologists weigh in by McKinsey & Company

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