President’s message

Dear members,

As we approach the end of the year, I am excited to share several updates and important events with you in the last quarterly issue of A Plus of 2023, and also my final message in the magazine before the next Council election in December.

First and foremost, I am thrilled to see the Institute’s 50th anniversary celebrations continue with the special CityBus and MTR branding campaign bringing more awareness of the Institute and its members’ achievements to the public. Public buses and a section of the Admiralty MTR station adorned with our 50th anniversary branding and messages were launched in October and will run until mid-November. These advertisements serve as a tribute to the Institute and its members’ crucial roles in making Hong Kong a bona fide international financial centre over the past 50 years, and it is important that we are able to share those messages to ensure members receive the recognition that aligns with the tremendous roles they play in society.

Of course, our celebrations will come to a conclusion with the Gala Dinner to be held in December. This will be a special occasion where we intend to give recognition to the history of the Institute, and the development of our beloved profession throughout the past five decades. We hope that by recognizing the broad shoulders we stand on, we will see the platform we share, of which we, and future generations of the profession, can build our own legacy upon. I hope to see you there at the event.

“We hope that by recognizing the broad shoulders we stand on, we will see the platform we share, of which we, and future generations of the profession, can build our own legacy upon.”

Traditionally, the Institute has focused on offering a public response to the each year’s Budget by the government. This year, we also made the effort to share our thoughts on the Chief Executive’s 2023 Policy Address. We welcomed the government’s commitment to reinforcing Hong Kong’s international financial centre status, particularly initiatives outlined in the policy address to promote green finance, improve stock market liquidity, the development of Hong Kong as a regional intellectual property trading centre, and talent integration across the Greater Bay Area. As we celebrate our 50th anniversary, the Institute remains committed to collaborating with stakeholders to strengthen the professional services in the accounting sector, ultimately enhancing Hong Kong’s status as an international financial centre and an attractive location for investment, and contributing to our nation’s success.

Indeed, our profession has an important role to play in converging the paths to success for both our city and the nation as a whole. In September, we were proud to hold a remarkable celebration dinner to commemorate the 74th National Day of the People’s Republic of China. The event brought together the Institute, the Association of Hong Kong Accounting Advisors, Hong Kong Association of Registered Public Interest Entity Auditors Limited, Hong Kong Business Accountants Association, and The Society of Chinese Accountants and Auditors at the JW Marriott Hotel Hong Kong. With approximately 470 participants in attendance, the evening was a true testament to unity and solidarity within the accounting profession.

I also had the immense honour of representing the Institute, alongside other Hong Kong delegates, at the Third Belt and Road Forum for International Cooperation held in Beijing in October. The forum provided valuable opportunities for representatives from participating countries and jurisdictions to collaborate and explore ways to achieve win-win situations. International cooperation is vital in maximizing the impact of sustainable development worldwide.

In his inspiring speech, President Xi Jinping presented the eight major steps to support high-quality belt and road cooperation, one of which was to promote green development. As a mature centre for raising capital, Hong Kong has an excellent advantage in facilitating low carbon or zero carbon transition across the belt and road. The accounting profession in Hong Kong will have a critical role when this comes into play, and it will be an exciting opportunity for us to contribute to Mainland China’s “Belt and Road Initiative.”

As President of the Hong Kong Institute of CPAs, it has been truly an honour to represent our esteemed Institute and I feel privileged to have had the chance to share the Institute’s developments through A Plus. By the next issue, a new president will be sharing his or her message with you, and I will continue to enjoy the content as a proud member – just like you. Together, we will continue to drive the profession forward, making significant contributions to Hong Kong’s economic growth and the development of the accounting industry.

Thank you for your unwavering support, and I look forward to celebrating our remarkable 50-year legacy with you at the Gala Dinner.

Loretta Fong

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