Dear members,
As we enter the second half of 2024, I would like to share with you some of the highlights of the Institute’s efforts since the last issue, which demonstrate our commitment to enhancing the value and relevance of the accounting profession in Hong Kong and beyond.
One of our strategic priorities is to strengthen our relationships with key stakeholders in the international and Mainland China accounting arena, and to promote the high standards and quality of Hong Kong CPAs. In June, I led a delegation of the Institute’s leadership to Beijing, where we met with representatives from the Ministry of Finance (MoF), the Chinese Institute of Certified Public Accountants (CICPA), the China Securities Regulatory Commission, and the IFRS Foundation’s Beijing Office. We also signed a Memorandum of Understanding with CICPA to enhance cooperation between the accounting sectors of the Mainland and Hong Kong in the area of continuing professional development, aiming to nurture top-tier accounting talents for an innovation-driven economy.
Back in Hong Kong, we welcomed delegations from various organizations, with the MoF paying us a visit, as well as the Chartered Accountants Australia and New Zealand, the Association of International Accountants, the Qianhai Authority, and representatives from Shandong’s finance, tax, and legal institutions.
These collaborations reinforce Hong Kong’s position as a worldwide frontrunner in the accounting field, creating a cooperative atmosphere that provides our members with advantages from exchanged expertise and possibilities.
Another strategic priority is to engage our members and provide them with the resources and support they need to excel in both their careers and personal development, to help them meet the evolving demands of the profession and to foster a strong, supportive community.
In June, we launched the HKICPA Sustainability Community, a dedicated hub for individuals and organizations from diverse backgrounds, extending beyond CPAs, who specialize in and are passionate about sustainability. The primary objectives of the community are to facilitate connections between like-minded professionals, provide comprehensive insights into sustainability trends and regulations, foster inspiration and knowledge sharing, drive collective efforts in sustainability practices and climate action, and offer valuable networking opportunities with esteemed sustainability leaders. I encourage you to join the community and participate in its activities, which will help you to enhance your sustainability knowledge and skills, and to make a positive impact on the environment and society.
“These collaborations reinforce Hong Kong’s position as a worldwide frontrunner in the accounting field, creating a cooperative atmosphere that provides our members with advantages from exchanged expertise and possibilities.”
We also organized several events to foster a sense of belonging and camaraderie among our members, such as the Movie Night, while our members took part in a number of sporting events, including great success in the Integrity Cup 2024. These events reflect the Institute’s commitment to engaging our members and providing them with platforms to network, socialize, and have fun. I would like to thank all the participants, volunteers, and sponsors for their support and enthusiasm.
A third strategic priority is to promote financial education and engage the younger generation, who are the future of our profession and our society. The goal of our initiatives is to build a strong foundation for the next generation of CPAs, ensuring they possess the skills and knowledge to succeed.
In July, we published a “Financial Education Teaching Manual” for senior primary school students, in collaboration with the Hong Kong Institute of Vocational Education Childcare, Elderly and Community Services, our strategic partner. The publication is part of our initiative to enhance our “Rich Kid, Poor Kid” programme, and aims to equip teachers to enhance the financial literacy and awareness of students, igniting interest in an accounting career. We hope that the manual will be widely adopted by schools and teachers, and that it will benefit students and their families.
Moreover, we have organized numerous initiatives to captivate secondary school students earlier and to clearly articulate the excellent opportunities a career in accounting provides. A recap of our activities for the 2023/24 academic year was distributed in a communication this past July, detailing our engagement with nearly 10,000 secondary school students throughout this time.
I would love to hear your ideas and suggestions on how we can better serve members.
Roy Leung
President
