President’s message


Dear members,

This month involved a number of events demonstrating the importance of openness and communication. In today’s business world, it is by working together, and leveraging each other’s skills, that we can build a brighter future. In order to work effectively with each other we need to maintain strong relationships and wide networks.

It was my honour to be a keynote speaker at the 2019 China Accounting and Financial Innovation Forum at United International College in Zhuhai on 18 October. In my presentation, I spoke about how the digital economy is changing the accounting profession, how members are preparing for new opportunities and what support the Institute is providing to its members. It was an interesting event, and I enjoyed the opportunity to meet with academics and industry experts, and discuss with them how technology was changing our world.

I was invited to be a member of the Hong Kong Institute of Directors’ Panel of Judges for the Directors of the Year Awards 2019. The awards recognize outstanding boards and directors, their efforts in governance, and also promote good corporate governance to a wider audience. The judging panel met in mid-October and engaged in frank discussions during our review of the entrants. The importance of good corporate governance has grown in Hong Kong because of events like these awards, and the Institute’s own Best Corporate Governance Awards, which are now in their 20th year. The Institute’s awards event is coming up in December.

I met the new President of Institute of Chartered Accountants in England and Wales, Fiona Wilkinson, at their Annual Gala Dinner in Hong Kong at the end of the month. It was a good opportunity to meet with their senior leadership and other representatives and think about how we can continue to work together for the betterment of the profession, including ways to improve gender diversity.

A Plus is a key way for the Institute to maintain its communication with the over 44,000 members, 17,000 students and 2,000 stakeholders we have. With this in mind, I direct your attention to the interview of the new Chief Executive and Registrar, Margaret W.S. Chan. From my experience, the profile feature helps us to explain to you our views and experiences, how we want to help the profession develop, and how the Institute can better serve our members.

“In today’s business world, it is by working together, and leveraging each other’s skills, that we can build a brighter future.”

We’re now into the main conference season of the Institute, helping members to prepare for their futures. At the IT Conference 2019 held on 19 October, renowned speakers and panellists shared their insights on how technology is changing the profession, and how businesses and professionals can seize the opportunities available through technical advancements to drive their success.

If you’re a young member or a small- and medium-sized practitioner (SMP) then I hope to see you at one of the conferences designed especially for you in November.

For young members, the Young Members Conference will be held on 23 November and feature both young and seasoned speakers from different fields discussing issues helpful for your career development. Speakers will share their work experiences while recruitment consultants will provide tips on career planning. I look forward to seeing some of you there.

For SMPs, the 2019 SMP Symposium on 29 November will feature sessions on issues of importance to members of this important group. Speakers will cover developments at the Institute and internationally, findings from the Institute’s practice reviews, implementation of the anti-money laundering regime, and changes to financial reporting and auditing standards.

The Institute’s Nomination Committee is calling for candidates for co-option to the Council for 2020. If you are willing to help the profession’s development by serving as a co-opted Council member, please put forward your nomination.

Lastly, the 2019 Oxfam Trailwalker is also coming up. The Institute is fielding five teams for the event, and I’ll be there to see them off and offer my encouragement. Working together and leveraging each other’s energy and determination will see them through the gruelling 100-kilometre-walk.

Patrick Law

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October 2019 issue
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