New leaders ... Pang Tsun Loy, Michael P 899 Wong Ching Hung, Thomas N 1,084 Wong Wang Tai, Ivan P 537

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  • Institute News

    THE HONG KONG ACCOUNTANT JANUARY 20056

    New leaders elected At the 32nd Annual General Meeting of the Hong Kong Institute of CPAs, Edward KF Chow was elected president, and Paul MP Chan and Mark C Fong were elected vice- presidents.

    Other newly elected mem- bers of the Council include Dr Cho Lung Pui Lan, Stella, Leo CM Lee, Doug Oxley, Carlson Tong, Tsai Wing Chung, Philip, Paul F Winkelmann and Amy WS Yung.

    Council election result

    Elected candidates

    Name Category No. of votes Paul MP Chan P 3,520 Cho Lung Pui Lan, Stella N 2,354 Leo CM Lee N 2,192 Doug Oxley N 2,392 Carlson Tong P 2,226 Tsai Wing Chung, Philip P 2,752 Paul F Winkelmann P 2,146 Amy WS Yung P 1,933

    Other candidates

    Name Category No. of votes Chan Po Fun, Peter P 602 Cheng Kin Chung N 419 Chew Fook Aun N 932 Susanna Chiu N 1,083 Choi Sau Yuk N 761 Choy Chak Wa, Peter N 578 Fok Ka Hing, Eric N 1,383 Kung Yiu Fai, Elve N 1,332 Lam Yiu Chau, David N 489 Leung Wing On, Louis P 1,190 Li Wai Keung N 403 Anthony Nedderman P 517 Pang Tsun Loy, Michael P 899 Wong Ching Hung, Thomas N 1,084 Wong Wang Tai, Ivan P 537 Wu Shek Chun, Wilfred N 420 Yam Chi Ming, Stephen N 538

    P: Those members who are in full time practice as certified public accountants (practising) N: Those members who are not in full time practice as certified public accountants (practising), who

    may or may not hold a practising certificate

    The 32nd AGM in progress

  • Institute News

    THE HONG KONG ACCOUNTANT JANUARY 20058

    At the meeting, Council also appointed two co-opted members, Chew Fook Aun and Susanna Chiu.

    For the first time, under the new Pro- fessional Accountants Ordinance, immedi- ate past president Roger Best will continue to serve on the Council for one more year and the Chief Executive of the HKSAR has appointed four non-accountants to the Council. They are Edward Wai Sun Cheng, Sir CK Chow, Paul MY Chow and Sophia Kao.

    Speaking at the AGM, the outgoing president Roger Best said that the passage of the Pro fe s s iona l Accountant s (Amendment) Ordinance 2004 was the most important accomplishment of the year.

    ‘The Ordinance allowed us to change our name, create a new brand, and give our members an internationally recognised designation,’ he said. ‘It also officially put in place a host of regulatory reforms that will help safeguard Hong Kong’s reputation as an international financial centre.’

    According to Mr Best, another worthy development is that Hong Kong is now fully converged with international standards of accounting and ethics, signifying that Hong Kong’s accounting profession is now aligned with international best practice.

    The new president, vice-presidents to- gether with the chief executive and regis- trar met the media after the AGM to share the Institute’s vision and new directions in 2005.

    Composition of the Council 2005

    Elected Members Edward KF Chow (President) FCPA Paul MP Chan (Vice-President) FCPA Mark C Fong (Vice-President) FCPA Albert SC Au FCPA Michael KH Chan FCPA Cho Lung Pui Lan, Stella FCPA Wilson Fung FCPA Leo CM Lee FCPA Doug Oxley FCPA David Tak-kei Sun FCPA Carlson Tong FCPA Tsai Wing Chung, Philip CPA Paul F Winkelmann FCPA Amy WS Yung FCPA

    Immediate Past President Roger Best FCPA

    Appointed Members Edward Wai Sun Cheng CK Chow Paul MY Chow Sophia Kao

    Co-opted Members Chew Fook Aun FCPA Susanna Chiu FCPA

    Ex-officio Members Gordon WE Jones Representative of the Financial Secretary, Government of the HKSAR

    Lucia Li FCPA Director of Accounting Services, Government of the HKSAR

    Chief Executive and Winnie CW Cheung FCPA Registrar

    The new leaders meeting the press after the election

    The outgoing president Roger Best gave a vote of thanks to fellow Council members, chief executive & registrar and numerous committee members for contributing to the overall success of the Institute

    New president Edward Chow (centre) with the two vice-presidents Paul Chan (left) and Mark Fong

  • Institute News

    THE HONG KONG ACCOUNTANT JANUARY 200510

    Profiles of the newly elected president, vice presidents and prominent laypersons appointed to Council

    In accordance with provisions contained in the Professional Accountants (Amendment) Ordinance 2004, the chief executive of the HKSAR has appointed four prominent laypersons to sit on HKICPA’s Council for 2005. They are: Edward Wai Sun Cheng, Sir CK Chow, Paul MY Chow and Sophia Kao.

    For members information the Institute is pleased to introduce the newly-elected president, two vice presidents and those laypersons appointed to Council.

    Mr Edward KF Chow (president) Mr Edward KF Chow is a fellow member of the Hong Kong Institute of Certified Public Accountants and chairman of China Infrastructure Group Holdings PLC. He has been a Council member of the Institute since December 1996 and was elected vice president in 2002 and 2004.

    Mr Chow is actively involved in the Institute’s work. He has served as chair- man and deputy chairman of the following committees and working groups of the Institute: • Corporate Governance Committee

    (chairman) • Professional Accountants in Business

    Committee (chairman) • Corporate Communications Strategy

    Steering Committee(deputy chairman)

    • Editorial Board (deputy chairman) • Ethics Committee (deputy chairman) • Expert Panel on Listing (deputy

    convenor) • International Recognition Task Force

    (deputy chairman) • Mainland Affairs Committee (deputy

    chairman) Mr Chow also represents the Institute on the following: • IFAC’s PAIB Committee • FSTB’s Corporate Governance

    Working Group and the Advisory Committee on Human Resources

    Development in the Financial Services Sector

    • SFC’s Advisory Committee on Investor Education

    Outside of the accounting profession, Mr Chow serves the following organisations: • Chinese People’s Political

    Consultative Conference – Zhejiang Province (member)

    • Election Committee of Hong Kong SAR (member)

    • Business and Professionals Federation of Hong Kong (vice chairman)

    • Hong Kong Institute of Directors (deputy chairman)

    • OECD/World Bank Corporate Governance Roundtable (core member)

    Mr Paul MP Chan (vice president) Mr Paul M P Chan is a fellow member of the Hong Kong Institute of Certified Public Accountants. He is managing partner of Paul Chan & Partners. He has been a Council member of the Institute since December 1999 and was elected vice president in 2003 and 2004.

    Mr Chan is actively involved in the Institute’s work. He has served as chairman and deputy chairman of the following com- mittees and working groups of the Institute: • Small and Medium Practitioners Com-

    mittee (chairman) • Taxation Committee (chairman) • GAAP for Small Business Working

    Group (chairman) • Member Innovation and Technology

    Steering Board (chairman) • Mainland Affairs Committee (deputy

    chairman) On the international scene, Mr Chan is a member of IFAC’s SMP Permanent Task Force, IASB’s Advisory Panel on Financial Reporting by SMEs and in Emerging and Transitional Economies, and the HK-UK Business Partnership.

    Outside the accountancy profession, he is chairman of Breakthrough Limited, a part-time member of the Central Policy Unit of the HKSAR, a member of the Board of Review (Inland Revenue), the Transport Advisory Committee and the Beat Drugs Fund Association. He is also a subject specialist of Hong Kong Council for Academic Accreditation and serves on the advisory committee of a number of universities/educational institutes. He is also a member of the Chinese People’s Political Consultative Conference – Qingdao city.

    Mr Mark C Fong (vice president) Mr Mark C Fong is a fellow member of the Hong Kong In- stitute of Certified Public Accountants and senior partner of Moores Rowland Mazars. He has been a Council member of the In- stitute since December 1998.

    Mr Fong is actively involved in the Institute’s work. He has served as chair- man and deputy chairman of the following committees and working groups of the Institute: • Ethics Committee (chairman) • Registration and Practising

    Committee (chairman) • Continuing Professional

    Development Committee (deputy chairman)

    • Small and Medium Practitioners Committee (deputy chairman)

    On the international scene, Mr Fong is a member of IFAC’s Ethics Committee. He is also an executive committee member of Moores Rowland International (MRI), and the chairman of MRI Asia Pacific. Mr Fong also serves as member of the Ad- visory Committee on Accounting and Finance of the Hong Kong Polytechnic University, member of Election Commit- tee of Hong Kong SAR, and independent non-executive director of two listed companies.

  • Institute News

    11JANUARY 2005 THE HONG KONG ACCOUNTANT

    Edward Wai Sun Cheng Mr Cheng is currently chief executive of USI Holdings Limited and the co-chairman of SUN- DAY Communications Limited.

    Mr Cheng’s career spans more than 20 years in business, law and finance. He gradu- ated from Cornell University with a bachelor degree in political science and economics, and Oxford University with a bachelor degree in jurisprudence and a master degree. He was qualified as a solicitor in the United Kingdom and Hong Kong and spent some time with the London law firm, Slaughter & May, specialising in corporate finance and mergers and acquisitions.

    In Hong Kong Mr Cheng worked with Hutchison’s China operations, setting up joint ventures