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PHOTO: TERRY DUCKHAM Your chop Your Logo About our name: A PLUS stands for excellence, a reference to our top-notch accountant members who are success ingredients in business and in society. It is also the quality that we strive for in this magazine — going an extra mile to reach beyond grade A. President: Keith Pogson Email: president@hkicpa.org.hk Vice Presidents: Susanna Chiu, Clement Chan Chief Executive and Registrar: Raphael Ding Email: ce@hkicpa.org.hk Deputy Director of Communications: Stella To Editorial Advisers: Daniel Lin, Clement Chan, K.M. Wong Editorial Manager: John So Editorial Coordinator: Maggie Tam OFFICE ADDRESS: 37/F, Wu Chung House, 213 Queen’s Road East, Wanchai, Hong Kong Tel: +852-2287-7228 Fax: +852-2865-6603 MEMBER AND STUDENT SERVICES COUNTER: 27/F, Wu Chung House, 213 Queen’s Road East, Wanchai, Hong Kong WEBSITE: www.hkicpa.org.hk EMAIL: hkicpa@hkicpa.org.hk M&L Editor: George W. Russell Managing Editor: Gerry Ho Email: gerry.ho@mandl.asia Copy Editors: Jemelyn Yadao, Alisha Haridasani Production Manager: Jasmine Hu Design Manager: Jennifer Chung Editorial Assistant: Lucid Wong EDITORIAL OFFICE: 2/F, Wang Kee Building, 252 Hennessy Road, Wanchai, Hong Kong ADVERTISING ENQUIRIES: Advertising Director: Derek Tsang Email: derek.tsang@mandl.asia Tel: +852-2656-2676 A PLUS is the official magazine of the Hong Kong Institute of Certified Public Accountants. The Institute retains copyright in all material published in the magazine. No part of this magazine may be reproduced without the permission of the Institute. The views expressed in the magazine are not necessarily shared by the Institute or the publisher. The Institute, the publisher and authors accept no responsibilities for loss resulting from any person acting, or refraining from acting, because of views expressed or advertisements appearing in the magazine. © Hong Kong Institute of Certified Public Accountants December 2012. Print run: 33,810 copies Subscription: HK$760 for 12 issues per year. See www.hkicpa.org.hk/aplus for details.
Two lay members named to Council The government has appointed Melissa Brown and Tam Wing-pong as new lay members of the Council of the Hong Kong Institute of CPAs. The appointments were made under the Professional Accountants Ordinance (Chapter 50). Brown, a fund manager, is a member of the Securities and Futures Commission public shareholders group. Tam, a veteran civil servant, was the postmastergeneral of Hong Kong before his retirement. Their terms will start in December and last until 30 November 2014. They succeed Catherine Leung and Ambrose Cheung. Annual report released, features arts as theme This year’s Institute annual report is now available in English for members. The report features Hong Kong’s booming art industry as its theme and draws parallels with the accounting profession. The Chinese version will be available soon. Members hold meetings with Guangdong officials Representatives of the Institute, its taxation faculty and other CPA firms met with senior representatives from the Guangdong Provincial Local Taxation Bureau last month. Matters discussed in the meeting included the role and regulation of tax agents and valueadded tax reform in Guangdong. Table tennis team is a hit at tournament The Institute’s table tennis team came second in this year’s joint professional table tennis tournament, held on 4 November. The team competed against six other professional bodies representing barristers, surveyors, doctors, architects, lawyers and dentists. In the cross-border competitions in Guangzhou, also held last month, the Institute’s badminton team won its championship, while the football and table tennis teams came second. Obituary The Institute notes with regret the passing of Ho Sik-lan. 4 December 2012 NEWS THE INSTITUTE Companies take home awards for corporate governance disclosure Prudential, CLP receive top annual prizes The Hong Kong Institute of CPAs has announced the results of the Best Corporate Governance Disclosure Awards 2012. This year saw several companies honoured for the first time, including The Link Real Estate Investment Trust, which won both platinum and significant improvement awards, Pacific Basin Shipping, awarded a special mention in the non-Hang Seng Index (large market capitalization) category; COSCO International Holdings, which received platinum award in the non-HSI (mid-to-small market capitalization) category; and Ping An Insurance (Group) Company of China, which took the gold award in the H-share companies and other Mainland enterprises category. The judges presented diamond awards, the highest honour, to Prudential and CLP Holdings, noting that many companies and organizations in Hong Kong still have more to do to bring their corporate governance practices to the highest standards. “This year, we refined the marking scheme taking into account the latest developments,” said Stephen Law, chairman of the awards organizing committee. Evidence of good governance practices, which judges were particularly looking out for, included “preparing for the changing demands and expectations reflected in the new corporate governance code under the listing rules, which is being implemented in phases starting this January, and to have increased awareness of the impact their activities have on the community and the environment,” Law said. The winners received their awards at a ceremony held on 23 November, with Sir C.K. Chow, chairman of Hong Kong Exchanges and Clearing, as the guest of honour. Group honours Institute president for advancement of women’s rights Keith Pogson, president of the Institute, was named the 2012 Champion for the Advancement of Women at the Women of Influence Awards. Pogson, who is also managing partner for Asia-Pacific financial services at Ernst & Young, was nominated by The Women’s Foundation, an organization dedicated to the lives of women in Hong Kong, for advocating the advancement of women in the workplace. He told the South China Morning Post that he was both “flattered” and “surprised” to have won the award. “I am also slightly saddened there are not more men out there advocating and championing the advancement of women,” he added, noting that he is usually one of a few men at meetings held by the foundation. Pogson provides mentorship to talented women with leadership potential. He is also helping to identify women who can become mentors. He has been involved in this work at E&Y for about five years and at the foundation for two years. He stressed the importance of mentorship for young female professionals, saying that “it is about gender diversity and how to develop a person’s full potential regardless of gender.” In 2012, the proportion of female members of the Institute rose to close to 50 percent. “This is a trend that will continue with increasing numbers of women entering the field,” said Pogson.
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Page 43 and 44: 121 TechWatch The latest standards
Page 45 and 46: Tech Q&A The Institute has issued a
Page 47 and 48: Events Your guide to courses, works
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