HKICPA SSD

Institute workshops on Hong Kong Risk-Based Capital (HKRBC) – June series The HKRBC, introduced by the Insurance Authority, adopts a new approach to capital adequacy and regulatory reporting for the insurance industry in Hong Kong and is expected to take effect in mid-2024. Given the effective date approaching soon, all insurance companies need to be ready for their implementation. The Institute conducted two series of face-to-face workshops on HKRBC in 2023 and will be holding another series in June. (https://lnkd.in/gmpTSSxg) In addition to the content covered in the 2023 workshops, the speakers will provide updates on the developments of HKRBC. They will also share their insights and practice experience on the major challenges in implementing HKRBC, as well as observations on solutions to accelerate the regulatory reporting filing process. Those who did not attend the workshops in 2023 should not miss this opportunity. ·        Long term insurance: 12 and 13 June  ·        General insurance: 17 and 27 June Space is limited for face-to-face workshops. Register now to secure your place. #hkicpa #workshop #HKRBC

Institute Virtual Roundtable Discussion: IASB ED on Business Combinations-Disclosures, Goodwill and Impairment  The Institute will be holding a virtual roundtable on 27 May to obtain views from stakeholders on the International Accounting Standards Board (IASB) Exposure Draft (ED) (https://lnkd.in/gdmdPGJV) Business Combinations—Disclosures, Goodwill and Impairment. The ED would affect any entity that enters into a business combination or has cash-generating units containing goodwill, as well as the impairment test for all assets to which International Accounting Standard 36 Impairment of Assets applies.   Members and other interested parties are highly encouraged to join the roundtable to understand the effects of the ED and express their views on how business combinations should be reported. Register (https://lnkd.in/g4uWYRJC) to reserve your place by 17 May. #hkicpa #roundtable #iasb #exposuredraft

Live webinars: Embarking on the journey of IFRS Sustainability Disclosure Standards The Institute is holding a series of webinars (https://lnkd.in/gvi34F3U) to explain the key concepts, principles and core requirements of the two inaugural IFRS Sustainability Disclosure Standards, namely IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures. The webinars will also include illustrative examples to enhance understanding. - 2 May: The essentials of IFRS S1 and IFRS S2 - 20 June: Dive deeper with a focus on IFRS S2 #hkicpa #webinar #sustainability #ifrs

Workshop for audit managers/seniors in-charge (Re-run) Tailored for audit managers or seniors in-charge with more than two years of auditing experience, the Institute’s workshop (https://lnkd.in/gRgGPYb8) held across 15, 29 and 30 April focuses on advanced auditing topics such as risk assessment procedures, auditing accounting estimates and going concern assessment. Auditing concepts, practical skills, as well as recent practice experience relevant to participants will also be shared. #hkicpa #workshop #audit

📣HKICPA invites comments on Proposed Revisions to the Definitions of Listed Entity and Public Interest Entity in the Code. The proposal incorporates changes resulting from the IESBA’s final pronouncement issued in April 2022, with local refinements to define a public interest entity (PIE) more explicitly to align with the circumstances in Hong Kong. Notably, the proposal incorporates the following additional PIE categories in the Institute’s Code of Ethics for Professional Accountants, taking into account the specific context of Hong Kong: • MPF schemes registered under the MPF Ordinance. • ORSO schemes registered under the ORSO Ordinance with total assets exceeding HK$100 million by reference to the most recent set of audited financial statements. We invite all stakeholders to share their insights by 𝟐𝟕 𝐀𝐩𝐫𝐢𝐥 𝟐𝟎𝟐𝟒. 📖Read the proposed exposure draft and the explanatory memorandum here: (https://lnkd.in/g4mrw7e2) 🗣Share your feedback: (https://lnkd.in/gr9hX63X) 🎥During the consultation period, we will release a video to help stakeholders understand the proposed revisions. 📌Follow us here on Youtube to stay informed: (https://lnkd.in/gxmPGeAw) #hkicpa

Institute live webinar on Hong Kong Financial Reporting Standard (HKFRS) 17 – Insurance Contracts: Audit and Financial Reporting Issues The new comprehensive accounting standard, HKFRS 17 Insurance Contracts, has been in effect for over a year. The Institute will hold two live webinars (https://lnkd.in/g_QJ2d-A) on 27 March and 20 May to share with participants the significant and challenging issues relating to the transition and implementation of the requirements of HKFRS 17. These webinars will provide insights from both accounting and auditing perspectives, based on the experience gained during the first complete reporting cycle under the new standard.   #hkicpa #hkfrs17 #livewebinar

Educational publication: Financial Reporting Considerations for Closing Out 2023 The Institute has issued the educational publication Financial Reporting Considerations for Closing Out 2023. (https://lnkd.in/dfbj9ZJF) This publication aims to provide preparers with key reminders and insights for the preparation of their 2023 annual financial statements prepared under Hong Kong Financial Reporting Standards (HKFRSs). It discusses the topical financial reporting issues, the new and revised HKFRSs mandatorily effective from 1 January 2023 and the key amendments to HKFRSs that are effective on 1 January 2024 and thereafter. The considerations highlighted in the publication are also relevant for upcoming interim period-ends and financial year-ends. #hkicpa #financialreporting #hkfrs

Institute live webinar on Hong Kong Financial Reporting Standard (HKFRS) 17 – Insurance Contracts: Audit and Financial Reporting Issues The new comprehensive accounting standard, HKFRS 17 Insurance Contracts, has been in effect for over a year. The Institute will hold two live webinars (https://lnkd.in/g_QJ2d-A) on 27 March and 20 May to share with participants the significant and challenging issues relating to the transition and implementation of the requirements of HKFRS 17. These webinars will provide insights from both accounting and auditing perspectives, based on the experience gained during the first complete reporting cycle under the new standard.   #hkicpa #hkfrs17 #livewebinar

A Plus Article: Goodbye IAS 1; Hello IFRS 18 A new standard on presentation and disclosure in financial statements https://lnkd.in/gGdfpqVs #hkicap #ifrs18 #ias #aplus

𝐌𝐚𝐤𝐢𝐧𝐠 𝐚 𝐠𝐥𝐨𝐛𝐚𝐥 𝐢𝐦𝐩𝐚𝐜𝐭 - 𝐀𝐝𝐯𝐚𝐧𝐜𝐢𝐧𝐠 𝐄𝐭𝐡𝐢𝐜𝐚𝐥 𝐒𝐮𝐬𝐭𝐚𝐢𝐧𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐏𝐫𝐚𝐜𝐭𝐢𝐜𝐞𝐬 Contribute your voice in the HKICPA’s Invitation to Comment on the newly released IESBA Exposure Drafts! The proposed new standards and revisions are a significant step forward in establishing ethical standards for sustainability reporting and assurance across professions. Be part of this global milestone that will have a far-reaching impact in this rapidly growing area. 📖Learn more about the Invitation to Comment: 🔗https://lnkd.in/g7zdCmFz 📌 Access here for the IESBA Exposure Drafts: 🔗 https://lnkd.in/gTxMDp4d HKICPA SSD #IESSA #EthicsinSustainability