Further to my previous email in May and update in my column in the April issue of A Plus on the subject, I am using my column this month to update you on the actions of Council in relation to the extraordinary general meeting Resolutions.
Concerning Resolution 1 on the redistribution of the reserves held by the Institute.
Council has completed its holistic review of the fee structure and decided to introduce a membership fee waiver for 2019 and 2020 for members whose names were on the register at 31 December 2017. The fee waiver for 2019 will be for the full fee (i.e. HK$2,300), and a review will be conducted before 2020 to determine the appropriate level of the waiver, ensuring sufficient reserves are maintained for expected operating expenses.
In addition, fees for most CPD seminars will be reduced by 20 percent from 1 July 2018, non-PC holder partner’s annual registration fees will be halved, and the eligible age for waiver of membership fee will be lowered to 65. For more details, please see the abridged Council minutes for the month of May 2018 available in the “Members’ area” of the Institute’s website.
Concerning Resolution 2 on implementing one member, one vote for the election of the president and vice-presidents.
A Taskforce has been set up and considered several options proposed by the management, with the objective of holding a poll of all members under the current Council election framework. The Taskforce is examining practicality and seeking legal advice. Given the resolution’s potential bearing on the Professional Accountants Ordinance, amendment of the legislation will also be considered in parallel.
Concerning Resolution 3 on the recruitment of Chief Executive and Registrar.
The Search Committee has engaged Korn Ferry as the recruitment consultant for a global search. The committee will meet again in July to consider the list of potential candidates.
Raphael Ding will serve out his contract on 30 June 2018. The Council thank him for his service to the Institute, and wish him all the best for his future endeavours.
Jonathan Ng, Executive Director, Education and Training, will be the Acting Registrar from 1 July 2018.
“The Council thank Raphael Ding for his service to the Institute, and wish him all the best for his future endeavours.”