Millennium Entrepreneurship Programme

Transcription

1 Millennium Entrepreneurship Programme The third Millennium Entrepreneurship Programme s prize presentation ceremony was held successfully on 28 June 2003 with Peter Wong, CEO, Greater China, and director of Standard Chartered Bank as the guest of honour. The Society s president David Sun acted as the chairman of the Final Judging Panel. The programme was organised by the Hong Kong Youth Institute and supported by the Hong Kong Society of Accountants as one of the co-organisers. With the aim of providing business education for secondary school students, the programme this year focused on the theme of Doing Business the Right Way. Competing against 56 school teams, Queen Elizabeth School won first prize by presenting the best case study involving business ethics. All the contestants of this year s programme comprised F4 and F6 students. Each team was assigned a professional as mentor to help them finalise the case study. Among these mentors were 26 Accountant Ambassadors of the Society. With the guidance of these professionals and the teacheradvisors of their own schools, the students were able to learn more about the importance of business ethics in preparation for their future careers. The chairman of the Final Judging Panel, Mr Sun said the theme this year was particularly relevant to today s commercial world. More than ever before, business Peter Wong (left) presenting a souvenir to Kennedy Liu, chairman of the Society s Community Services Committee. A group photo of the officiating guest with the panel of judges. leaders understand how essential it is for the next generation to learn good business and ethical practices at an early stage of their education, and to build on these firm foundations that will hold them in good stead throughout their future career. The Society has sponsored the Millennium Entrepreneurship Programme since 2002 as a co-organiser and found the event very motivating and constructive in building the business perspectives of students as well as fostering bonding and mutual understanding between the students and the Society s Accountant Ambassadors. English proficiency training packages launched On 10 July 2003, the Society held a press conference to announce the launch of two specialist writing training packages to improve the overall English writing competency of tax specialists and auditors in Hong Kong. Representing the Society to speak at the press conference were Andy Lee, chairman of the Language Proficiency Working Group, and Georgina Chan, director of education and training. The two other panel speakers were Dr Tony Lee, senior research officer (English) of the Standing Committee on Language Education and Research (SCOLAR), and Dr Jane Lockwood, head of the Centre for Professional and Business English (CPBE), Hong Kong Polytechnic University. The new packages, entitled Advanced Writing Programme for Auditors and Advanced Writing Programme for Tax Specialists, are launched by the Society in collaboration with the CPBE and are funded by the Language Fund as part of the Government Workplace English Campaign. This is the first time that specific highlevel English writing training has been provided locally for middle senior accountancy managers who are tax specialists and auditors. The training is expected to initially benefit about 5,000 members in audit and around 3,500 tax specialists in Hong Kong. Developed after almost two years effort, the training packages are tailor-made for face-to-face courses to be conducted initially by CPBE. The courses for the Advanced Writing Programme for Auditors and Advanced Writing Programme for Tax Specialists will require 20 and 30 hours of study respectively. According to Andy Lee, the training packages aim at helping accountancy professionals develop accurate and stylistically appropriate texts in the process of handling tax cases and on audit. Both courses use an authentic case study approach to enhance the practicability and relevance to participants. There is no doubt in our minds that these two high-level packages will fulfill an important niche in Hong Kong s accounting workplace, and would form an essential pathway to language training for the accountancy profession in the local scene, said Mr Lee. 10

2 Dr Jane Lockwood, Dr Tony Lee, Andy Lee and Georgina Chan at the press conference to launch the two specialist writing training packages. He added that the Society was very pleased to see its long-standing cooperation with CPBE reap rewards. Through our longstanding joint efforts with CPBE, we will be able to mobilise Hong Kong s middle senior tax specialists and auditors to command more proficient English standards and effective communications skills. These are especially demanded of accountants nowadays if they want to stay competitive, said Mr Lee. In addition, we are particularly thankful to SCOLAR for its funding support, which demonstrates the Government s commitment to support workplace English, he added. Dr Tony Lee from SCOLAR said that English language training for professionals is their major concern, as contained in the on-going Hong Kong Workplace English Campaign. These two courses, like others also funded within the Hong Kong Workplace English Campaign, will provide quality English language training materials targeting specific professions and, we hope, will make the Hong Kong workforce better equipped for the international marketplace, added Dr Lee. Dr Jane Lockwood from the CPBE said many senior professionals, not only accountants, struggle with high level writing required for their jobs. She congratulated the Society s initiative in convening the Language Proficiency Working Group to provide advice to language projects. This group has assisted our language specialists by providing case studies and data on which to develop the materials for the training packages. Members of the group, who themselves are all senior accountants, worked closely with the authors to advise on content in the production of these high level writing materials. This kind of collaboration is very exciting and ensures that the materials are relevant and motivating to the participants, added Dr Lockwood. Georgina Chan added that the Society would grant 20 to 30 structured CPD hours to members upon the successful completion of the respective programmes. In addition, participants of the two courses will be eligible to claim a 50 per cent course fee subsidy from the Government Workplace English Campaign if they also pass one of the English Workplace Language tests created to demonstrate that they have attained the relevant benchmarks. The course materials will be available for over-the-counter sale at the Society at $80 (HKSA member) and $90 (non-hksa member) for Advanced Writing Programme for Auditors, and $90 (HKSA member) and $100 (non-hksa member) for Advanced Writing Programme for Tax Specialists. Meeting with the Secretary for Home Affairs On 18 June 2003, the Society initiated a meeting with Dr Patrick Ho, Secretary for Home Affairs, to introduce the Society s community service efforts and explore future cooperation opportunities with the Home Affairs Department (HAD). Attending the meeting on behalf of the Society were president David Sun, Council member and Community Services Committee s chairman Kennedy Liu, Council member Michael Chan, registrar and secretary-general Lee Dr Patrick Ho (centre) meets with the Society s representatives (from left) Lee Kai-fat, Kennedy Liu, David Sun and Michael Chan. Kai-fat and assistant director (public relations) Florence Chan. The Society s representatives introduced to Dr Ho the projects undertaken by the Accountant Ambassadors Programme over the years including the free accountancy advisory services, English tuition, mentoring services for university students, environmental protection, social service and charitable activities. Both parties further exchanged ideas on how to foster a closer cooperation relationship by mobilising the Society s members to contribute their professional knowledge in worthwhile community projects. The option of expanding the Society s Free Public Advisory Service Scheme to the high-traffic district offices under the HAD was also explored and discussed with a favourable reception from Dr Ho. 12

3 Self-regulatory reforms gain members support On 7 July 2003, the Society conducted an extraordinary general meeting (EGM) for members to vote on a resolution on amendments to the Professional Accountants Ordinance (PAO) and By-laws so as to change the membership structure of the Council, Investigation Panel/Committee and Disciplinary Panel/Committee, as well as to change the disciplinary proceeding. The resolution was carried by a majority of the Society s members present and voting in person or by proxy at the meeting. Explaining the background of the EGM, the Society s president David Sun said: The corporate scandals that have occurred overseas and locally since early last year has created public concern over a number of corporate governance issues, in particular the credibility of financial reporting and auditing practices. This in turn has led to many countries introducing reforms of the regulatory framework governing the accountancy profession to enhance public confidence. The Society s Council has been monitoring these developments carefully, and considering whether similar changes need to be made to our regulatory system. Council President David Sun (right) chairing the EGM on amendment to the PAO and By-laws. accepts that more transparency and lay participation in the Society s regulatory processes would provide the public with added comfort and assurance that their interests are, and will continue to be, served properly, Mr Sun added. Council s main reform proposals were submitted to the Financial Services and the Treasury Bureau in January The first phase of these proposals, together with other changes to the PAO and By-laws, including the much-anticipated re-branding, will be put to Legco through a Private Member s Bill, to be sponsored by Dr the Hon Eric Li Ka-cheung. The proposed reforms were set out in detail in a position paper sent to members in June The online version is available at publications. Mr Sun stressed that these proposals were vital in enhancing the oversight of the Society s governance and regulatory functions, and should therefore have a direct and positive impact on the accounting profession, including the major area of concern the regulation of auditors and the way in which the profession was perceived by the business community and the general public. Prior to the EGM, the Society organised a Members Forum on 24 June to answer members questions and receive their comment on the reform proposals. The Forum was hosted by president David Sun, Legco representative Dr Eric Li, vice-presidents Roger Best and Paul Chan, registrar and secretary-general Lee Kai-fat and senior director Winnie Cheung. A majority support from the Society s membership for the reform proposals was received. Demography of Society s membership The demographics of the Society s membership have changed since the publication of last year s Annual Report. The following statistics, valid as of 30 June 2003, will be updated for the Society s 2003 Annual Report to be published in November. Membership status No. of members Percentage of total Associate 18, % Fellow 3, % Total 21, % Since statistics on members and firms/corporate practices are also available for public inspection on our website: hk/membership/statistics/index.php, the Society will cease to publish the demographics of the Society s membership after this issue. Location of Residence No. of members Percentage of total Local 20, % Overseas 1, % Total 21, % Fellow Overseas Associate 0 5,000 10,000 15,000 20,000 Local 14

4 Gender Distribution No. of members Percentage of total Male 12, % Female 8, % Total 21, % Female Male President s engagements On behalf of the Society, the president David Sun attended the following events in June/July: The signing ceremony of the Mainland/Hong Kong Closer Economic Partnership Arrangement (CEPA) witnessed by Premier Wen Jiabao, and the speech by Premier Wen after the signing ceremony on 29 June at Government House. The Radio Television Hong Kong s seminar on CEPA on 30 June as a panel speaker. The briefing on CEPA hosted by the Secretary for Financial Services and the Treasury on 2 July. The dinner reception of the Certified Management Accountants of Canada, Hong Kong Branch on 11 July. Practising Certificate (PC) No. of members Percentage of total PC holders (Full-time) 1, % PC holders (Part-time) 1, % Non-PC holders 17, % Total 21, % PC holders (Full-time) PC holders (Part-time) Non-PC holders Age Group No. of members Percentage of total 29 or below 2, % 30 to 34 5, % 35 to 39 5, % 40 to 44 3, % 45 to 49 2, % 50 to 54 1, % 55 or over % Total 21, % or over 29 or below Cessation of 2004 pocket diary The Society will stop giving away the members' pocket diary for 2004 in view of the imminent name and logo change of the Society in our rebranding campaign. To mark the launch of the rebranding, the Society will be exploring the possibility of sourcing other commemorative souvenirs in due course as a keepsake for members. We thank members for their kind understanding in this regard. Public service appointments The following persons have been re-appointed/appointed to the Council of the Open University of Hong Kong: David Sun ( ) has been re-appointed as a member and treasurer for one year with effect from 20 June Desmond Chan ( ) has been re-appointed as a member for three years with effect from 20 June Marvin Cheung, SBS, JP ( ) has been appointed as a member for the period from 15 August 2003 to 19 June Eddy Fong, SBS, JP ( ) has been appointed as a member for the period from 15 August 2003 to 19 June Canning Fok ( ) has been appointed as a member of the Hong Kong Port Development Council for the period from 1 June 2003 to 31 December Louis Leung ( ) and Norman Yuen, JP ( ) have been re-appointed as adjudicators of the Registration of Persons Tribunal for two years with effect from 1 June Stephen Liu ( ) has been appointed as a member of the Panel of Adjudicators of the Obscene Articles Tribunal for three years with effect from 15 June Marcellus Wong ( ) has been re-appointed as a member of the General Committee of the Federation of Hong Kong Industries for two years with effect from 18 July

5 Publication of Disciplinary Findings In the June 2003 issue of The Hong Kong Accountant, the Council announced its policy on the publication of disciplinary findings. The Council now sets out the details of the implementation of this policy as follows: A. If a Disciplinary Committee finds in favour of the Society as the complainant, as a normal practice, the findings of the Disciplinary Committee will be published by way of a press release, on the Society s website and in The Hong Kong Accountant with reference to the respondent professional accountant by name. 1. Press release (a) The article to be published will be an abbreviated account of the background and charges of the complaint, the Order made by the Disciplinary Committee and the reasoning. (b) The secretariat will send a draft of the article to be published to the chairman of the Disciplinary Committee and the respondent professional accountant for comment. (c) A draft of the article to be published, amended as may be necessary as a result of (b) above, will be submitted to Council for its approval, subject to which the article will be released to the press. 2. Publication on the Society's website and in The Hong Kong Accountant (a) The article to be published will be an account of the background and charges of the complaint, the Order made by the Disciplinary Committee and the reasoning. Such an account will be more detailed than the account referred to in 1(a) above. (b) A draft of the article to be published will be submitted to Council for its approval, subject to which the article will be published in the Society s website and The Hong Kong Accountant. B. If the Disciplinary Committee finds in favour of a professional accountant as the respondent, subject to the agreement of the professional accountant, the findings of the Disciplinary Committee will be published by way of a press release, on the Society s website and in The Hong Kong Accountant with reference to the respondent professional accountant by name. All of the procedures set out in 1 and 2 in A above will apply. Basketball competition The 2003 HKSA basketball competition was held between 18 May and 21 June during weekends at Shek Tong Tsui Sports Centre. This year, nine teams took part in the competition and they played in two groups in the single league preliminary round. The firstplace team of each group advanced to the final match to compete for the President s Cup donated by Mr Joseph M Lai, a past president of the Society. The two second-place teams competed for a special award. An exciting three-point shootout game was also held on the final match day to add more fun to the competition. The prize presentation ceremony was honoured by Mr Andy Lee, Council member and chairman of the Corporate Services Committee (CoSC), Mr Kevin Yuen and Mr Gabriel Tam, deputy chairman and member of CoSC respectively. Messrs Kevin Yuen, Gabriel Tam and Andy Lee (seventh to ninth from the right, second row) together with the exhilarated finalists. The winners Champion team PwC I Runner-up team BIG Winning team of the Special Award ACF Winning team of three-point shootout Ernst & Young game Top scorers (in the preliminary round) Mr Tony Lo Ngai Hang (a team member of Ernst & Young) Mr Chan Man Hoi (a team member of ACF) Players competing at the Special Award match. 18

6 Dragon boat races Thirty members of the Society s Dragon Boat/Water Sports Interest Group (DB/ WSIG) participated in the Discovery Bay dragon boat races on 4 June The Society s team came second and fourth respectively in the second heat and final of the Cup competition. A ladies team, formed jointly with Airport Authority Hong Kong, came third in the Ladies Cup competition. The team also won the Silver Bowl of Stanley Short Course Races on 29 June and the 2nd runner-up of the Societies Cup of Sai Kung Summer Vigor mini dragon boat race on 6 July. Apart from dragon boat rowing, the DB/WSIG organises a variety of activities relating to water sports. Please visit our homepage at (under Member Services - Members column) for more details. The joyful team. Getting ready to race. Removal of a CPA practice The Council approved the removal of the following CPA practice in June 2003 and its name has been removed from the Society s register accordingly. Firm Removal date Arthur Andersen & Co !" Statistics update As of 15 July 2003, the Society s statistics were as follows: 21,134 Members 3,202 Practising Certificate Holders 1,093 Firms 138 Corporate Practices New registrations The Council recently approved the registration of the following corporate practices effective in May or June 2003: Corporate practice Name of directors C & H Partners (CPA) Limited Chan Siu Wa, Jeffrey!"#$%&'()*+ Hon Yiu Ming, Matthew CCP C.P.A. Limited Cheung Wai Sun, Tony!"#$%&'() Cheung Wing Yuen, Dominic Fung Chi Ming Lai Yick Fung E & W CPA Co. Limited Chung Hon Shing, Edmond!"#$%&'() Wan Man Hong Wan Man Wah Fung & Lai CPA Limited Fung Chun Kai!"#$%&'()*+ Lai Wai Leung PY Chiu CPA Limited Chiu Leung Pui Yee!"#$%&'( Chiu Wing Cheong (Non-member director) Welco CPA Ltd. Choy Sik Fai!"#$%&' Wong Koon Wai, William 20

7 New authorised supervisors Appointment from 11 June 2003 to 30 June 2006 Mr Cheung, Wing Yuen, Dominic* Mr Sum, Pui Ying Mr Ho, Kwok Cheong* Mr Tam, King Tong* Mr Ho, Wai Shun, Wilson* Miss Tang, Lai Kwan Mr Hui, Hon Chiu, Jeffrey Mr Tse, Tak Ming, Ivan* Mr Kam, Chi Sing, Roger* Mr Wong, Chun Kit Ms Law, Elizabeth* Miss Yau, Wan Wah, Lindy* Miss Leung, Sau Lai* Mr Yau, Yin Kwun, Joseph* Mr Lui, Kwok Pan Ms Yim, Woon Ha Mr Rasheed, John Henley Mr Yuen, Chi Hung, Francis Mr Siu, Ping Kwong * Practising certificate holder for (Data as at 13 June 2003) downloadable from the Membership Services Lists List of Authorised Employers / Authorised Supervisors section on the Society s website at More information about the scheme and the role of authorised employers and authorised supervisors are also available. For enquiries, please call the Society s Membership Section at / Full lists of authorised employers and authorised supervisors are available for information in the Society s website at: membership/. Come join as trainers Member practices, individual members and their employing organisations are cordially invited to register as an authorised employer/authorised supervisor of the Society to train prospective accountants by completing and returning the application form that is Authorised Supervisors and Assigned Supervisors of Authorised Employers at the training course. HKAAT news Professional Accountant HKAAT graduate Register with HKAAT Press Interviews: Oriental Daily News On 24 February 2003, a reporter from Oriental Daily News interviewed the Association s president Mr George Ho and secretary general Ms Christine Liu on the Professional Bridging Examinations (PBE). During the interview, Mr Ho talked about the reasons for launching the PBE, its format and rules, recognition of the qualification by the HKSAR Civil Service Bureau, entry to the Masters programme and the path to attaining a professional accountancy qualification after completing the PBE. In addition, a PBE student Mr Wong Chi Hung attended the interview, and explained why he chose to take the PBE and his tips for preparing the examinations. Relevant work experience Complete the HKSA Qualification Programme Complete Professional Bridging Examinations Complete HKAAT eight-paper by examinations or exemption Hong Kong Economic Times Supplement - Money Times Hong Kong Economic Times interviewed the Association s secretary general Ms Christine Liu about the PBE in mid April As well as outlining general information on the PBE such as the format and rules, progression pathway, etc, Ms Liu also talked about the revision and preparatory courses offered by various institutes and the examination technique seminars organised by the Association to help students prepare for the examinations. The interview report was published in the newspaper s supplement, Money Times, on 28 April Radio programme Metro Finance FM104 PBE student Mr Wong Chi Hung was also interviewed by Metro Finance FM104 in March During the interview Mr Wong briefly talked about the format and characteristics of the PBE, while outlining his study plans and special tips in preparing for the examinations. The interview was broadcast in the programme To Infinity and Beyond on 4 June

8 Top Students of the December 2002 Accounting Technician Examinations Paper 1 Financial Accounting Wong Kit Mui Ms Wong is a self-study student who registered with the Association in November This was the second time she sat the Accounting Technician Examinations. Paper 2 Business Communication Tsui Oi May Ms Tsui registered with the Association in July 2002 and was sitting the Accounting Technician Examinations for the first time. She is now studying the HKAAT diploma course at the Hong Kong School of Commerce. Paper 3 Cost Accounting Lo Ka Ki Mr Lo registered with the Association in October 2000 and was granted exemption from Paper 1 Financial Accounting based on a pass with credit in LCC&I Accounting Third Level. He studied the Cost Accounting Course at VTC Financial Services Development Centre in He also received the top prizes for Paper 5 Hong Kong Taxation and Paper 6 Hong Kong Business Law of the Accounting Technician Examinations in the December 2001 diet. Paper 4 Information Technology Applications in Accounting Leung Suk Ha Ms Leung first registered as a student of the UKAAT/HKAAT Joint Examination Scheme. She was granted an exemption from Paper 1 Financial Accounting and Paper 3 Cost Professional Bridging Examinations Name of paper Paper I Financial Reporting Paper II Management Accounting Paper III Financial Management Paper IV Legal Environment Accounting based on her Certificate in Accounting Studies obtained from Hong Kong College of Technology. She is now a senior accounts clerk at Chempac Hongkong O/B Sara Lee Hong Kong Limited. Paper 5 Hong Kong Taxation Yiu Mang Wah Registered with the Association in November 2001, Ms Yiu was sitting the Accounting Technician Examinations for the second time. She studied the HKAAT Certificate Programme on Hong Kong Taxation in the Hong Kong Management Association in Ms Yiu is now working with Yat Shun Manufacturing Co Ltd as an Accounts Clerk. Paper 6 Hong Kong Business Law Li Man Kit Mr Li registered with the Association in July He was granted an exemption from Paper 1 Financial Accounting based on a pass with credit in LCC&I Accounting Third Level. He studied the Hong Kong Business Law course at the Hong Kong School of Commerce and is now a Contract Clerk in the Highways Department. Paper 7 Advanced Accounting Chan Chun Fai Mr Chan registered with the Association in November He studied the Advanced Accounting course in the Hong Kong Management Association in 2002 and now Speaker Mr Patrick Ng Mr Andy Li Mr Michael Wong Mr Kenneth Chang Experienced lecturers were invited to the seminars. works with Mightybush Co Ltd as an Accounting Clerk. Paper 8 Auditing Cheung Wai Hon Mr Cheung registered with the Association in October 2000 and was granted an exemption from Paper 1 Financial Accounting based on a pass with distinction in LCC&I Accounting Third Level. He studied the Auditing course at the Hong Kong School of Commerce in Mr Cheung also received the top prize for Paper 5 Hong Kong Taxation of the Accounting Technician Examinations in the June 2002 diet and is now an Accounts Clerk at Parktree Holdings Limited. Examination Technique Seminars The Association organised a series of examination technique seminars in April and May 2003 with an aim to assist students in preparing for the Accounting Technician Examinations and Professional Bridging Examinations. Experienced lecturers from educational institutes were invited to speak. Each seminar recommended techniques and strategies for tackling the examinations. In order to equip themselves well for the examinations, students were also reminded to practise past examination papers more. During the Q&A session, lots of different questions were raised and addressed by the speakers and chairpersons. The Association would like to take this opportunity to thank all speakers and the chairpersons for their kind support. Accounting Technician Examinations Name of paper Speaker Chairperson Paper 2 Business Communication Ms Fiona Yip Mr Yeung Che Keung Paper 4 Information Technology Applications in Accounting Mr Yeung Che Keung Mr Yeung Che Keung Paper 5 Hong Kong Taxation Mr Fung Siu Wah Mr Andy Li Paper 6 Hong Kong Business Law Mr Alfred Chan Mr Andy Li Paper 7 Advanced Accounting Mr Cheng Chun Hung Mr P C Liu Paper 8 Auditing Mr Simon Lee Ms Lindy Yau 24

9 SME Market Day At the SME Market Day 2003 organised by the Hong Kong Trade Development Council on 5-7 June, the Society set up a booth to promote the professional services offered by CPA practices in Hong Kong to local and overseas enterprises. An Accounting Conference entitled Adopting a Proper Business Set-up Model in China was held during the event. Free consultation services provided at the Society s booth. Results of Survey on Electronic Voting and Election of Council Members Participation rate At the close of the deadline, a total of 2,081 replies were received (representing a response rate of 10%). Mode of Response Mr Paul MP Chan, the HKSA vicepresident and chairman of SMPC, spoke about!"#!"#$%. Dr Patrick LT Wong, deputy chairman of SMPC, delivered a speech on!"#. Replied by fax/mail 34.6% (719) Replied online 65.4% (1,362) (Total 2,081 responses) The Society s booth at the SME Market Day. Mr David Cho, guest speaker, addressed the participants on!"#$%&'(). Response Q1: Do you support adding electronic voting to the existing mode of voting by ballot paper? No view 2.2% (45) Do not support 3.9% (80) Support 93.9% (1,922) Participants flooded the Accounting Conference titled Adopting a Proper Business Set-up Model in China. (Total 2,047 responses) The panel speakers responded to the floor. 26

10 Q2: Do you support maintaining the status quo of choosing one to six candidates or requiring the voting of six candidates? Society s PAIBC and CIMA explore further opportunities for cooperation Change to six votes 17.8% (368) No view 16.1% (333) No change (one to six votes) 66.1% (1,369) (Total 2,070 responses) Council's decision Council has decided to go by the voting results to add electronic voting to the existing mode of voting via legislative amendment and to maintain the existing mode of voting one to six candidates in future Council elections. Council would like to thank all those who have responded to the survey. The chairman of the Society s Professional Accountants in Business Committee (PAIBC), Edward Chow, and the deputy director, business and practice, Peter Tisman, met the Chartered Institute of Management Accountants (CIMA) director of international development, Katherine Grimshaw, during Ms Grimshaw s visit to Hong Kong in July. The discussion touched on various matters of mutual interest, including the development of enforceable ethical standards for PAIBs, current IFAC projects affecting PAIBs and opportunities for the profession in the Mainland. It was agreed that the scope for further cooperation between the HKSA and CIMA should be explored. From left to right, Peter Tisman, Katherine Grimshaw, Edward Chow. AUGUST 2003 THE HONG KONG ACCOUNTANT 27