President’s message

Dear members,

“Indeed, the Institute continues to build on its legacy over the past half-decade to serve the accounting profession and the public interest of our city.” The past few months have been incredibly eventful for the Institute, with two major events and the launch of a dedicated website to celebrate the Institute’s 50th anniversary. The much-anticipated inaugural global sustainability disclosure standards from the International Sustainability Standards Board (ISSB) were also finally issued during this time, while we worked tirelessly to execute our strategic plan for 2023.

The HKICPA 50th Anniversary Cup event at the Happy Valley Racecourse in June was a fantastic start to the Institute’s 50th anniversary celebrations. The special commemoration race dedicated to the Institute’s golden jubilee was exhilarating, and it was an honour to present the trophies to the winners of the race alongside Vice Presidents Roy Leung and Edward Au. I am grateful to have shared this experience with over 200 guests in attendance and to have had the chance to connect with fellow accountants, especially the younger members of the Institute.

The CPA Congress was another successful event, with over 700 online and offline attendees participating. I was pleased to catch up with even more members in person, as well as our esteemed Guests of Honour, including Paul Chan, Financial Secretary of the Government of the Hong Kong Special Administrative Region, Shu Huihao, Director General of the Accounting Regulatory Department of the Ministry of Finance, and Asmâa Resmouki, President of the International Federation of Accountants, who officiated the opening alongside myself and our leadership team. Our gratitude goes out to them for their presence and support. The Financial Secretary, who is also a former President of the Institute, was gracious enough to grant us an exclusive interview for the 50th Anniversary Interview Series. Be sure to give it a read!

The feedback we’ve received since the congress has been overwhelmingly positive, and the sessions were genuinely engaging and informative, providing a wealth of insights and information that will undoubtedly prove beneficial in all of our professional pursuits. I enjoyed moderating the first keynote session with Julia Leung, Chief Executive Officer of the Securities and Futures Commission. The second keynote session by Prof. K.C. Chan, Chairman of WeLab Bank and Senior Advisor to WeLab, was also remarkable. Don’t miss the two articles (morning / afternoon sessions) covering the keynotes and panel discussions in this issue.

“Indeed, the Institute continues to build on its legacy over the past half-decade to serve the accounting profession and the public interest of our city.”

Meanwhile, in June, the ISSB issued its two inaugural standards. This is a momentous occasion and the Institute has expressed its support and reiterated its commitment to contribute to the public good and play a leading role in the sustainability journey.

Indeed, the Institute continues to build on its legacy over the past half-decade to serve the accounting profession and the public interest of our city. Our recent visit to Beijing in May for the first time in three years to meet with representatives from the Ministry of Finance’s Accounting Department, Chinese Institute of Certified Public Accountants, and the China Securities Regulatory Commission was productive, and we shared the latest updates regarding the industry reform in Hong Kong, our three key focuses for the future, and our strategic focuses for 2023. We remain committed to engaging with stakeholders and creating opportunities for our profession and members. We continue to do so through initiatives such as the Institute’s GBA Field Visit Series, which held its second visit to Dongguan in June.

While we continue to celebrate the Institute’s 50th anniversary, we will also initiate different activities for the betterment of the profession. We encourage our members to stay tuned for more updates as we strive for excellence in our efforts to support the development of the accounting profession in Hong Kong and beyond.

Loretta Fong

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