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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.