Hong Kong Institute of CPAs Annual Report 2018

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Introduction

Welcome to our annual report which focuses on the future and Accounting Plus. In the age of Accounting Plus, the career options open to CPAs are wide and varied, and CPAs are ready and able to take on the challenges and opportunities of the future. The artwork above reflects the accounting profession as forward-thinking and prepared for disruptive new technologies. Accountants Plus embrace innovation and have the relevant skills and insights needed to help organizations get to the next level in an ever-competitive business environment.

Continue scrolling down to watch our President Eric Tong reflect on the highlights of the past year for the Hong Kong Institute of CPAs, and discuss what Accounting Plus means for the future of the profession. You can read about our journey this year, and see photo essays of how our members progress in areas beyond auditing and assurance, and financial reporting, and how they are adding value to business across myriad of industries.

Read the president's message

Message from
the president

Read the president's message

Highlights

Institute in numbers

As of June 2018, there were 4,769 practising members at that date, up from 4,627 last year. There were a total of 17,486 students at the Institute, including 2,301 from the Mainland. In terms of demographics, women account for 57 percent of the overall studentship, and men account for 43 percent.

Membership growth

As of June 2018, membership stood at 42,612, up from 41,332 last year.

Members taking up leadership positions

Among the 7,921 professional accountants in practice respondents to the member census, 3,346 are partner, director, or sole practitioner level. Among the 25,382 professional accountants in business respondents, 4,798 are CEO, CFO or COO level.

Membership age and gender distribution

As of June 2018, the age group with the most number of members is 30-34. In terms of demographics, there is a total of 21,342 female members and 21,270 male members at the Institute.

Constitution,
Governance
and Finance

As a statutory organization, we are committed to maintaining high quality governance as well as preserving and bolstering the confidence of our members, their employers and clients and the general public.

Membership
and Qualification

The continuing growth in the Institute's membership illustrates the accounting profession's attractiveness in the age of Accounting Plus.

Standards,
Ethics and
Regulation

The Institute is the body responsible for setting accounting, auditing and ethics standards in Hong Kong and is committed to full convergence with international standards.

Member Support
and Professional
Development

The Institute is dedicated to supporting its diverse members throughout their professional lives. As well as catering for their professional training needs, the Institute organizes various networking events, cocktail receptions and visits – to help our members achieve work-life balance.

Mainland and
International

The international experience of Hong Kong CPAs shapes the profession. It is what allows them to play a vital role in running and advising a wide range of global organizations.

Communication
and Engagement

Effective communications with members and stakeholders and a strong brand help promote engagement with the Institute and its activities and attract new entrants to the profession.

Thought
Leadership

Our thought leadership advocates on issues which have an impact on our profession and is dedicated to the betterment of Hong Kong and the wider world.

Corporate Social
Responsibility
Report

The Institute takes corporate social responsibility seriously. It focuses on incorporating social and environmental considerations into its business operations to achieve sustainable development for the organization, staff and society as a whole.

Council
members

Elected members	Council meeting attendance △
Eric Tong (President)	11/11
Law Fu Yuen, Patrick (Vice President)	11/11
Johnson Kong (Vice President)	11/11
Raymond Cheng	11/11
Cho Lung Pui Lan, Stella	11/11
Fong Wan Huen, Loretta	10/11
Fung Ling Yip	11/11
Ronald Kung *	9/11
Lee Suk Yee	11/11
Leung Man Chun	11/11
Leung Man Kit	11/11
Leung Sze Kit, Roy	10/11
Li Kin Hang	11/11
Charbon Lo	11/11

Immediate Past President
Mabel M.B. Chan	11/11

Government-appointed lay members
Melissa Brown *	5/11
Chui Yik Chiu, Vincent	7/11
Tam Wing-pong *	9/11
Wong Kam Pui, Wilfred	8/11

Ex-officio members
Ada Chung (Representative of the Financial Secretary, Government of the HKSAR)	11/11
Charlix Wong# (Director of Accounting Services, Government of the HKSAR)	10/10

Acting Registrar
Jonathan Ng ^ (Secretary)	10/10

△ Attendance from 14 December 2017 to 30 September 2018.

* Ronald Kung, Melissa Brown and Tam Wing-pong were absent from the photo shooting session.
# Charlix Wong took over as Director of Accounting Services on 3 January 2018 after the retirement of Martin Siu (attendance: 1/1) on 2 January 2018.
^ Jonathan Ng has been Acting Registrar since 1 July 2018 after the previous Chief Executive and Registrar, Ding Wai Chuen, Raphael (attendance: 9/9), left the Institute on 30 June 2018. Mr. Ng has attended 2 meetings as Acting Registrar and 8 meetings as a member of the Institute's management.

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View our full Annual Report 2018