HONG KONG
UPCOMING EVENTS CIMA China Awards 2011 - CFO Forum & Awards ceremony With an uncertain global economic outlook and a double dip recession looming, together with politicians divided regarding financial reforms and regulations, businesses have never before been put into such a difficult situation. CIMA China will invite more than 300 finance leaders to this CFO Conference in Shanghai. With cool heads and a philosophy rooted in management accounting, they will decipher the ambiguities in the economy and search for real growth in the China market. Furthermore, it is also the CIMA Annual Awards, dubbed as the 'Finance Oscars'. The winners of the Annual Awards will walk the red carpet and share their respective best practices with their peers, laying the foundations for a more dynamic China. Date: Time: Venue: Registration:
Friday 2 December 2011 1.00-4.45pm (CFO forum), 4.45-6.00pm (CIMA awards ceremony 2011), 6.00pm (networking) Suncuba Grand Ballroom 3/F, Gran Melia, 1288 Lujiazui Ring Road Pudong,Shanghai 021-38678888 Please email infochina@cimaglobal.com
CIMA supported seminar on the UK Bribery Act and doing business with the UK The UK Bribery Act 2010 has come into force since 1 July 2011. In view of the Act’s extra-territoriality and its implications on business with operations in or dealings with the UK, the Hong Kong Ethics Development Centre of the ICAC is organising a presentation on the Act for company directors and professionals in Hong Kong to facilitate their understanding and compliance with the new law. Date: Time: Venue: Fee: CPD: Speakers: Organiser: Registration:
Monday 5 December 2011 6.00pm (registration), 6.30-8.00pm (seminar) ICAC Building, 303 Java Road, North Point, Hong Kong Gratis 1.5 CPD hours Mr Richard Alderman, Director of Serious Fraud Office (SFO), UK Mr Tse Man-shing, Director of Corruption Prevention, ICAC, Hong Kong Hong Kong Ethics Development Centre of the ICAC Please download application form here and register with ICAC directly
Joint seminar – Franchising in China This seminar, hosted jointly by CIMA and CUSCS and supported by CMA Canada, aims at sharing the experience of the development process of Swisher Greater China in terms of its pioneering work, brand development, management belief and development in Hong Kong and then Great China cities. Franco Lam, chairman of Swisher Greater China, will speak on topics including: • how to develop a franchisee business • how to discover and explore a 'blue ocean market' • the core values of management: caring for people • developing an organisation in an 'untapped' market such as mainland China. Date: Time: Venue: Fee: CPD: Language: Registration:
Friday 9 December 2011 6.30pm (cocktail reception), 7.15pm (seminar) School of Continuing & Professional Studies, The Chinese University of Hong Kong 1/F Lecture Theatre, Bank of America Tower, 12 Harcourt Road, Central, HK Gratis 1 CPD hour Cantonese Please register online before 25 November 2011
CIMA HONG KONG
CIMA Hong Kong Newsletter October/ November 2011
OCTOBER/ NOVEMBER 2011
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UPCOMING EVENTS CIMA social event – hiking at the Hong Kong Geopark We will be organising a hiking trip for members and students, it is a good chance to gather and exchange the joys of study and work. We will visit Ma Shi Chau an ideal location for studying strata, rock properties, sedimentation features and different geological compositions. The event packed day will include a lunch and lots of fun. Date: Time: Location: Fee: Capacity: Registration:
Sunday 8 January 2011 9.00am-4.00pm Ma Shi Chau (Assemble/dismiss: Kowloon Tong MTR station) HK$70 for CIMA members/students HK$200 for guest 50 persons Places allocated on a first- come, first-served basis; CIMA reserves the right to change the details of the event. Please download the registration form here and return by 16 December 2011
CIMA supported ACT Cash & Treasury Management Conference The Association of Corporate Treasurers (ACT) is holding their first one-day conference on cash and treasury management in Hong Kong, bringing together treasury and finance professionals from across North Asia to share knowledge and expertise. Topics include: • the importance of effective liquidity management • cash flow and working capital optimisation • trade finance and the internationalisation of the RMB • the impact of changing regulation on businesses • emerging investment opportunities Attend this conference to join the ACT’s global network and ensure that you remain at the leading edge of strategic treasury practice. Date: Venue: Time: Fees: CPD: Registration:
Wednesday 11 January 2012 Renaissance Harbour View Hotel, Wanchai, Hong Kong 8.30am (registration), 9.00am-4.30pm (conference) HKD5,500 (register by 2 December 2011 to take advantage of the early bird discount of HKD3,700) 8 CPD hours Please download the registration form here and return by 23 December 2011
CIMA supports ‘Asian Financial Forum 2012’ A global financial conference, the Asian Financial Forum (AFF) focuses on major issues, challenges and opportunities in the Asian region. The two-day event attracts some of the world’s most influential leaders in business, finance and government. Date: Venue: Fees: More information: Registration:
Monday 16 and Tuesday 17 January 2011 Hong Kong Convention and Exhibition Centre, Hong Kong HKD3,100 (50% discount by quoting the CIMA registration code TTM165) www.asianfinancialforum.com Please click here and register with AFF directly
CIMA will be distributing some of its latest thought leadership work at the resources centre of the Asian Financial Forum 2012.
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CIMA Hong Kong Newsletter October/ November 2011
CIMA Hong Kong Newsletter October/ November 2011
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NEWS North Asia Regional Board meets in Shanghai In July 2011 the CIMA council approved the formation of the North Asia Regional Board (NARB). In preparation of the official formation on 31 October 2011, there was a pre-meeting on 17 and 18 October in Shanghai. Vicky Li the regional director for the North Asia region welcomed the initial board members to the meeting. At the meeting Richard Kenworthy was elected as the Chairman for the 2011/12 NARB and Lawrence Yuen the Deputy Chairman. Members of the board come from across North Asia including mainland China, Hong Kong and South Korea. The board will be supported by Damian Yip who will act as the board secretary. The outcomes from the meeting will be circulated to members and students in the coming future and CIMA looks forward to all members and students in the area to their active participation in North Asia. Back row L-R Vicky LI, Dale XIANG, Laurence YUAN, Richard KENWORTHY, Wing Sun LI, Kenneth CHAN, Seow Kong NG. Front row L-R Damian YIP, Yichao YANG, Simon HURST. Paul CHAN was unable to attend.
Simple, practical proposals for better reporting of corporate governance Good corporate governance is essential to create trust and engagement between companies and their investors, so contributing to the long-term success of the business. Yet even where good corporate governance is in place, governance reporting remains for the most part formulaic. This report offers suggestions on how companies can adopt a new reporting structure that integrates key governance information with the rest of their business reporting; implement, measure and communicate sound business principles; and tell the governance story, while also ensuring compliance with relevant codes and legislation.
Assessors wanted for the 2012 Global Business Challenge competition The CIMA Global Business Challenge (GBC) is a unique international business competition developed with the aim of discovering and nurturing undergraduates around the world to become the future business leaders. Its success has made it one of CIMA’s annual flagship events and 2012 will be the fourth Global Business Challenge to date. The competition is based on the CIMA T4 final exam. Participants are to write a business report based on the given scenario and the winning team will represent their university and Hong Kong to compete against representatives from other 21 regions at the global final in Sri Lanka. The submitted business reports at the first stage of the competition will be marked by a panel of assessors who are CIMA members. Each assessor would need to mark around ten reports and a briefing session would be given on how the marking should be done. With the rigours marking from previous HK assessors, two of GBC finals have been won by a Hong Kong team. So if you want share your management accounting experience and be part of selecting the team that represents Hong Kong, become an assessor by contacting Cherry Chu for more details at cherry.chu@cimaglobal.com or 2511 2003.
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CIMA Hong Kong Newsletter October/ November 2011
NEWS HOT JOB FOR THE MONTH Senior Consultant – Finance Shared Service Centre / CoE Resources Global Professionals, a US based and listed professional services firm is looking for a seasoned project professional to assist a multinational client for its regional Finance Shared Service Centre (SSC)/Centre of Excellence (CoE) initiative. Resources Global Professionals | For more details please click here. Act now to upload your CV to MyJobs and get your portfolio ready for quick application to appealing vacancies. Recruiters please contact Mr Scott Lee at 3741 1956 or email scott.lee@cimaglobal.com for free job posting matters.
STUDENT SERVICES 2011 Elections Committee Subsector Elections For those members who are eligible to vote in the Elections Committee Subsector Elections, please find the final list of candidates that have been nominated for the Accountancy Subsector. MA Chun-fung Horace WAI Chi-kin Victor AU Siu-cheung Albert FUNG Ying-wai Wilson MACPHERSON Ayesha Abbas WAN Ho-yuen Terence CHAN Chi-kong HO Chiu-ping MOK Koon-yip WONG Hin-wing CHAN Clement Kam-wing HO Hung-wai MULLENS Francis Robert WONG Lung-tak Patrick CHAN Kwok-wai IP Koon-wing Ernest NG Kam-wah Webster WONG Wang-tai CHAN Mei-bo Mabel KUNG Yiu-fai Ronald PO Kam-man WU Tak-lung CHAN Sui-kuen Agnes LAI Kar-yan SHING Mo-han Yvonne YAM Chi-ming Stephen CHAU Suet-fung Dilys LAM Chi-yuen SHIU Shu-ming YAN Man-sing Frankie CHENG Chung-ching Raymond LAM Oi-yan Fiona SHUI Cheuk-ting YEUNG Chi-wai CHENG Yuk-wo LAM Sin-lai Judy SUN David Tak-kei YEUNG Chun-wai Anthony CHIU Lai-kuen Susanna LAU Sim SUN Po-yuen YEUNG Kai-cheung Patrick # CHOI Yi-tak LAU Vivian Vi-kuen SO Kai-kuen YIP Ngai-hang CHONG Yiu-kan Sherman LEE Kin TAM Hok-lam Tommy YUEN Shu-tong CHOW Kwong-fai Edward LEUNG Kai-cheong Kenneth TONG Carlson YUEN Tsz-chun CHOW Siu-lui LEUNG Wing-on Louis TOU Kin-chuen YUNG Kin CHOW Yeung-tuen Richard LI Ka-cheung Eric TSAI Wing-chung Philip CHOY Kai-sing LO Wa-kei Roy TSANG Kwong-chiu Kevin FUNG Henry LUNG Pui-lan Stella # CIMA member
HONG KONG PAST EVENT CFO Innovation Asia Conference On 26 October CIMA participated in the CFO Innovation Asia Forum ‘Bridging the Gap: How CFOs make a sustained difference in challenging times’ held in Mira hotel. This event attracted over one hundred senior finance executives from various companies and, through exhibiting a booth, CIMA was able to promote the brand as well as our thought leadership work and other training/recruitment services to these senior finance professionals. We had staff from both HK and South China joining the exhibition and it was a great pleasure to see several CIMA members attended the event too. Forthcoming we will be participating is the 2011 HKIHRM Annual Conference and Exhibition. CIMA Hong Kong Newsletter October/ November 2011
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HONG KONG PAST EVENT Joint seminar - An investment vehicle in the property market - REITÂ It has been a while since CIMA last conducted a networking CPD in HKU SPACE, nevertheless the turn out was excellent with nearly 120 members and students participating. Certainly the credit should go to Mr Victor Yeung, MD of LaSalle Investment Management (Securities) who shared an interesting topic which attracted such a large crowd. During the speech Victor has, not only introduced what a REIT is, but also highlighted the uniqueness of REIT and its possible growth in HK & China. We shall look forward to seeing you in the upcoming seminar held 9 December where we have invited an entrepreneur to share his ideas and success on developing franchisee business in HK, Macau and mainland China.
Gathering dinner for students and graduates of the CIMA x CUHK SCS joint programmes This is definitely a night to remember; the joint programmes have accumulated over 150 students, with 20 of them successfully graduated the ultimate qualification - Advanced Diploma in Management Accounting and be entitled for eleven papers exemption from CIMA. While some of them are studying hard for the strategic level exams in November the students and graduates are nice enough to organise a gathering dinner on 13 October, which 50 people attended. The night comprised of attendees who are graduates of the programme who first joined in late 2009, as well as new students who just kicked off in the June 2011 intake. Our members and also course instructors Mr Teddy Iu, Mr Ken Fan and Mr Henry Ha were also invited to this lovely gathering. Apart from tasty food and drinks the students have also prepared a lucky draw session, for this we must send our compliments to all the sponsors who added colors to the night. In fact these programmes have not only facilitated students in progressing through CIMA qualification, but it has also provided an opportunity for candidates to form study buddy group in tackling the final papers of CIMA, and definitely to build friendships for life.
Other past events and engagements Preparatory courses for Paper E1, F3, P3 and T4 Divisional council members attended the Accountants National Day Dinner Mr Richard Kenworthy, Chairman attended CPA Congress organised by CPA Australia Mr Richard Kenworthy, Chairman attended Annual Dinner organised by CGA
14 September – 29 October 2011 21 September 2011 14 October 2011 24 October 2011
CONTACT US CIMA Hong Kong Division Suites 2005 Tower One Times Square 1 Matheson Street Causeway Bay Hong Kong T. +852 2511 2003 F. +852 2507 4701 E. hongkong@cimaglobal.com www.cimahongkong.com Opening hours 9.30am-5.30pm (Monday-Wednesday, Friday) 9.30am-7.00pm (Thursday)
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CIMA Hong Kong Newsletter October/ November 2011