Strategic Plan 2024 out now
The Institute has published its Strategic Plan 2024, which outlines the objectives for the Institute in the upcoming year in line with its mission to further the development of the accounting profession, provide support in meeting members’ needs, and contribute to the sustainable development of Hong Kong.
Following a comprehensive review of the progress made under the previous plan, both the Council and the Institute have collaborated to update and refine the Strategic Plan.
Council recognized that many key factors and considerations that were identified in previous years continue to be relevant but are evolving, which means a refinement of focus, objectives and actions is required. It therefore agreed to carry forward, with some refinements, seven strategic focuses under three key areas: deliver member value; standing and future of the profession; and be a sustainable and versatile Institute.
In addition, the plan presents three major focuses for this year, and a diverse range of initiatives and actions aim to support these key areas, namely the enhancement of talent development; the reinforcement of communication and engagement with members; and climate change and sustainability.
Meeting with ISSB
The Institute’s leadership hosted Jingdong Hua, Vice-Chair of the International Sustainability Standards Board (ISSB), Zhengwei Zhang, Beijing Office Director and Special Advisor to Chair of the ISSB, and Jialing Si, Regulatory Affairs Manager for Asia for the ISSB on 25 March, to discuss the latest developments in Hong Kong as well as the Institute’s work on sustainability disclosure standard setting and capacity building.
This meeting showcases our strong relationship and ongoing collaboration with local and international stakeholders as we work towards the appropriate adoption of ISSB standards in Hong Kong. As stated in the government’s vision statement on developing the sustainability disclosure ecosystem in Hong Kong also issued on 25 March, the HKICPA has a significant role to play as the sustainability reporting standard setter in Hong Kong. Read our press release to learn more.
The Institute’s Chief Executive also attended a meeting between members of the Green and Sustainable Finance Cross-Agency Steering Group and ISSB on 27 March, to discuss and promote sustainability disclosures by companies and financial institutions in Hong Kong. An industry roundtable with around 20 representatives from listed companies and different financial services sectors was held to exchange views on the experiences in and the unique circumstances for entities making sustainability disclosures in Hong Kong and Asia. Read the Securities and Futures Commission’s press release on the event.
Visit from CA ANZ
The Institute received a delegation from Chartered Accountants Australia and New Zealand (CA ANZ), including Ainslie van Onselen, Chief Executive Officer, Simon Grant, Group Executive – Advocacy and International Development, and Elizabeth Chan, Head of Hong Kong, on 18 April, to share updates on both institutions and explore collaboration opportunities. The meeting brought together key representatives from both organizations to discuss important matters in our profession.
Topics covered included updates by the Institute and CA ANZ on their latest initiatives, achievements, and future plans, highlighting their commitment to promoting excellence in the accounting profession. Collaborations between the Institute and CA ANZ Hong Kong were also discussed to bring valuable opportunities for professional development and knowledge sharing. A crucial discussion revolved around innovative ideas and strategies to attract and retain top talent while ensuring the profession’s continued growth and relevance.
The Institute’s response to 2024-25 Budget
The Hong Kong government’s 2024-2025 Budget included a range of measures proposed by the Institute in its budget submission. The Institute welcomed the government’s budget for its pragmatic and balanced approach, taking into account the needs of different sectors of society, while pursuing further economic development, and aiming to maintain a fiscally prudent stance and transparency in public finances.
The Institute believes that the budget gives further impetus to Hong Kong’s economic development, its vibrancy and attractiveness to investors and talent, as well as its status as a leading international financial centre. As Hong Kong is expected to face continuing challenges from the external environment, we hope the government will look to build on the measures in the budget to strengthen Hong Kong’s long-term economic development. Read the Institute’s press release to learn more.
Networking lunch
With the aim of fostering stronger connections between the Institute and members, the Institute held a networking lunch on 10 April, providing an opportunity for Council and the Institute management to engage with nearly 40 members. The networking lunch marked the first of many exciting member engagement activities planned for this year.
2024 Membership Renewal Reward Scheme
To extend our deepest gratitude for our members’ continued support and loyalty, the Institute launched the 2024 Membership Renewal Reward Scheme. Eligible members who completed the 2024 membership renewal process on or before 31 December 2023 or meet the criteria may receive two complimentary continuing professional development courses. Access the 2024 Membership Renewal Reward Scheme webpage and log in until 18 May, and choose from the list of the available courses.
Spring Cocktail
Around 250 guests from the Government of HKSAR, Liaison Office of the Central People’s Government in the HKSAR, regulators, professional bodies, academia, and various business sectors, joined the Institute’s Council, Past Presidents, and committee members to celebrate the Year of the Dragon at the spring cocktails reception on 23 February. Check out the photos here.
AC Fun Run 2024
Jointly organized by the Institute, the Association of Chartered Certified Accountants and the Society of Chinese Accountants and Auditors, the AC Fun Run returned in a physical format for the first time since 2019 on 25 February at Tseung Kwan O South Waterfront Promenade. Around 630 runners from the accounting profession and other professional bodies came together with their family and friends to compete in three fun-filled categories for charity. Secretary for Financial Services and the Treasury, Christopher Hui, was Guest of Honour. See the photos here.
Council meeting minutes
The abridged minutes from the January, February (Strategy Day) and March 2024 Council meetings are now available.
