Foreword

2023 marks the 50th anniversary of the Hong Kong Institute of Certified Public Accountants. The theme of this year’s annual report, “Accounting for Success Now and Beyond,” encapsulates the Institute’s dedication to not only achieving success with the profession in the present, but also embracing the future with resilience and vision.

This year’s report includes a glimpse at some of the Institute’s most significant milestones, charting our path so far and taking stock of the magnificent legacy left by those before us. Each chapter includes a photo collage that reflects the rich and dynamic history of the Institute and the profession in their interactions within and with the broader society.

Explore the
HKICPA’s history
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Message from the
president

Indeed, the leaders who came before us have laid a strong platform, and now it is our turn to take the leap forward and create our own legacy for future accountants.
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Message from the
president

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Message from the
Chief Executive and Registrar

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Message from the
Chief Executive and Registrar

As we reflect on the remarkable achievements of the past year and celebrate the 50th anniversary of our Institute, we are filled with optimism for the future. The challenges and opportunities that lie ahead will require our unwavering commitment, collaboration, and adaptability.
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Annual summary

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Corporate
Governance

As we celebrate the Institute's 50th anniversary, we reflect on the remarkable journey of our organization in promoting and upholding corporate governance standards in Hong Kong. From our first report on corporate governance in the 90’s, to celebrating the 20th anniversary of the Best Corporate Governance Disclosure Awards and adding ESG as a main focus, the Institute has been at the forefront of Hong Kong’s corporate governance development. It has played a pivotal role in shaping the corporate landscape in the city, advocating for transparency, accountability, and ethical practices.

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Membership and
Qualification

At the heart of the Institute’s development lies our unwavering dedication to the recruitment, development, and recognition of accounting professionals. The Institute has continued to refresh its Qualification Programme to equip its talents with the knowledge and skills required for the evolving times, preparing our members and students to excel in their careers and make meaningful contributions to the profession. We also dedicate efforts to secure pathways for global recognition, empowering our members to find success on all continents.

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Member Services,
Development and Events

The Institute has always prioritized the holistic growth and well-being of our members. From impactful continuing professional development programmes to networking platforms, we have been a steadfast companion to our members throughout their career journeys. Members can also participate in sports and leisure events and well-being initiatives organized by the Institute to enhance their work-life balance. By fostering a supportive environment and providing valuable opportunities, the Institute enables its members to contribute meaningfully to the accounting profession and to the betterment of their communities.

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Mainland
Development

The dynamic relationship between Hong Kong and Mainland China has been a cornerstone of the Institute’s growth. Throughout its history, the Institute has served a pivotal role in facilitating the development of the accounting profession in the Mainland, forging connections, and promoting harmonization of standards. With the rapid development of the Chinese economy, as well as arising opportunities within the Guangdong-Hong Kong-Macao Greater Bay Area, the Institute continues to explore the exciting prospects for our members that lie ahead through deepening our engagement with our counterparts across the border.

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Standard Setting
and Professional Representation

As a leading standard-setter, the Institute has been at the forefront of shaping the accounting and auditing profession in Hong Kong. The Institute’s pivotal role in setting standards that align with international practices, adapting to evolving regulatory frameworks, and driving professional excellence, cannot be understated. Throughout the years, the Institute has engaged with government entities through consultations, participation in regulatory discussions, and provision of expertise, to address emerging issues in the financial market, align regulatory requirements, and enhance cooperation between the profession and the government.

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Thought Leadership,
Communication and
Community Engagement

From the very beginning, it has remained of utmost importance to the Institute that the accounting profession be perceived as essential and esteemed, establishing a positive image in the public domain. The Institute drives meaningful conversations, promoting knowledge sharing, and contributing to public discourse on pertinent issues. From thought-provoking research initiatives to impactful community outreach programmes, the Institute remains unwavering in its commitment to garner recognition from stakeholders for the Institute’s impactful work and the esteemed standing of the profession, and to champion the role of accountants as key catalysts for positive change.

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Finances and
Operations

Members of the Institute have played an instrumental role in shaping the growth and sustainability of our organization over the past 50 years. Their unwavering dedication and contributions have laid a strong foundation that has enabled the Institute to deliver exceptional value to our members, stakeholders, and the wider profession. As a positive force within the public realm, we have championed the highest standards of professionalism, contributed to the advancement of the accounting field, and played an active role in shaping the economic landscape of Hong Kong.

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Climate and
Sustainability

In the face of a rapidly changing world, the Institute acknowledges the vital importance of incorporating climate and sustainability aspects into the accounting profession. With its ongoing adaptation and evolution alongside the profession, the Institute remains steadfast in its dedication to advancing sustainable business practices, raising awareness, and offering guidance to members on environmental, social and governance issues. With a commitment to fostering a sustainable ethos, the Institute serves as a catalyst for progress, empowering accountants to embrace their responsibility in shaping a brighter and more sustainable world.

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