30 January 2024 2023 Annual Accounting Update

Jan 6, 2024

The Hong Kong Institute of Certified Public Accountants (“HKICPA”) has announced various new and revised amendments to accounting standards. In this seminar, our speakers Ernest Lee and Gigi Lam will share these exciting developments in accounting in Hong Kong and other areas of focus in financial reporting for you to stay sharp to the market.

The focused areas include:

 New or revised accounting standards

 Application of the HKICPA’s guidance on abolition of Mandatory Provident Fund-Long Service Payment offsetting mechanism in Hong Kong

 Climate related financial reporting

Speaker :Mr Ernest Lee, Technical Partner, Deloitte China

Ernest Lee is a Technical Partner of Deloitte China. He provides technical support to some of the largest audit engagements of the Firm. With extensive experience in the accounting profession, he provides valuable technical advice on matters related to accounting, audit and governance for companies in various industries in Hong Kong and Mainland China. He is a CPA (Practising) and a fellow member of the ACCA and ICAEW.

Ernest actively contributes to setting financial reporting standards locally and internationally. He is a Past Chairman (2019-2021) of the Financial Reporting Standards Committee of the Hong Kong Institute of Certified Public Accountants (HKICPA). The Committee is responsible for setting financial reporting standards in Hong Kong and during his tenure, he represented the HKICPA on many international and regional meetings on standard setting. He has been a member of various HKICPA's Advisory Panels on financial reporting matters for a number of years. For more than 10 years, he served on the Review Panel for the HKICPA's Best Corporate Governance Disclosure Awards and provided technical support to the HKICPA's Professional Standards Monitoring.

Speaker : Ms. Gigi Lam , Technical Director, Deloitte China

Gigi is a Technical Director of Deloitte China. She is a member of the HKICPA. Before joining the technical department, she had spent eight years in audit practice in Hong Kong, where she served listed and multinational clients from various sectors including retail, manufacturing, real estate and transportation. In her current role, she advises audit clients on applications of IFRS and HKFRS standards and provides accounting technical support to audit clients' transactions and Initial Public Offerings. She is also a regular speaker of accounting and financial reporting-related training delivered internally to audit practitioners and externally to audit clients, members of HKICPA and the Association of Chartered Certified Accountants.