Join a league of its own Be a CPA

Transcription

1 Join a league of its own Be a CPA Ms. Tera Mak / Ms. Shelby Tai Manager Student Education & Training Hong Kong Institute of Certified Public Accountants

2 Agenda Accountancy career prospects Introduction of HKICPA Route to CPA & Structure of QP Benefits of QP & QP Affiliate Club Q & A 2

3 Accountancy Introduction career on HKICPA prospects Ms. Tera Mak Manager Student Education & Training Hong Kong Institute of Certified Public Accountants 3

4 Why Accountancy? Reputable professional qualification Good job prospect Good financial rewards Broad exposure Challenging Versatile Job security (no matter in good or bad economy) 4 4

5 Who can Join the Accountancy Profession? Good Accountant Honest and confident Sensitive to numbers Inquisitive Sociable (need to communicate with different people) Hard working (long working hours for fresh graduates) Interest in business and economic development Good communication skills (oral and written) Analytical 5

6 Scope of Accountancy Profession Accountancy Audit Taxation Education Financial Advice and Management Professional Accountants Insolvency Management Consultancy 6 Company Secretarial Legal Services Assistance Information Management

7 Daily Work of a CPA Planning and briefing Supervising and training Liaising with clients Providing range of services Examples: Finalize accounts Issue auditors report Prepare & review tax computation Provide corporate secretarial service Provide business advice 7

8 Occupational Sectors for CPAs CPA firms Commercial companies Government Education 8

9 Career Path in CPA Firms Partner (Yr. 12+) Senior Manager (Yr. 9-11) Manager (Yr. 6-8) Senior Accountant (Yr. 3-5) Staff (Yr. 1-2) 9

10 Career Path in Commercial Companies Finance Director / CFO Financial Controller Accounting Manager Senior Accountant Accountant Assistant Accountant 10

11 Career Path in the Government Audit Commission Treasury Inland Revenue Department Auditor / Examiner Accounting Officer Assistant Assessor / Tax Inspector 11

12 Salary Trend in 2009/10 Role Salary (HK$'000/yr) Accounting & Finance Chief financial officer million+ Financial controller million Finance manager Financial analyst Accountant (Pre-qualified/qualified) Treasury Treasury director million+ Treasury manager million Taxation Tax director million+ Tax manager million Internal audit Internal audit director million+ Senior internal audit manager million Audit manager Source: Salary Survey 09/10, Michael Page International

13 13 Introduction of HKICPA on HKICPA

14 14 The ONLY statutory licensing body of professional accountants in Hong Kong. 香港唯一法定專業會計師註冊組織

15 HKICPA Scope of Work Registration of accountants, issue of Practising Certificates Setting Codes of Ethics and Standards of Accounting and Auditing Regulating the professional conduct and standards of members Organising professional examinations and related counselling courses Providing Continuing Education and other services to members Promoting the Accountancy profession 15

16 Members' Growth Rate 30, Aug 2010

17 CPA (Practising) (3,769) 12.3% CPA (26,841) 87.7% 17 (Statistics as at Aug 2010)

18 18 Introduction on HKICPA Route to CPA

19 4 Entry Routes to Join the QP Recognised Accounting Degree Holders^ Non-Accounting Degree Holders Sub-Degree Holders CICPA members (Exempted from Three Modules) Conversion Programme HKIAAT + Professional Bridging Examination 19 Qualification Programme ^PRC and overseas university graduates will be assessed on a case-by-case basis.

20 CPA Admission Requirements Qualification Programme (QP) Members of recognised accountancy bodies 5 types of agreements + 3-year practical experience in accounting (1/1/05 AE/AS) CPA (HKICPA member) PC Exam + auditing experience CPA (Practising) 20

21 21 Structure Introduction of QPon HKICPA

22 QP Components QP 22

23 Qualification Programme (QP) Module A Financial Reporting Module B Corporate Financing Module C Business Assurance Module D Taxation Module Workshops (study materials provided) Open-book Exam Final Examination Open-book Exam 23

24 Why Workshops? Develop research, problem solving and communication skills Learn from the fellow students and Workshop Facilitators Provide the practice and the hands on experience Provide feedback on learning and development 24

25 Why Open-book Examination? Assimilate working environment Emphasise application instead of memorising 25

26 Practical Experience Requirement Requirements for supervision under an Authorized Employer / Authorized Supervisor Length of service and working days requirement Basic and principal practical experience components Generic competencies 26

27 Benefits of QP Introduction on HKICPA Ms. Shelby Tai Manager Student Education & Training Hong Kong Institute of Certified Public Accountants 27

28 Internationally Recognised Get both designations of CPA / CA Exempted from three papers of the PRC CPA Uniform Examination Recognised by ICA in Australia, Canada, England & Wales, Ireland, New Zealand, Scotland, Zimbabwe and South Africa. CICPA (China) 28

29 CEPA Agreement Extension of MEPE HKICPA members exempted from THREE Papers of the PRC CPA Uniform Examination Accounting ( 會計 ) Auditing ( 審計 ) Exempted Financial Cost Management ( 財務成本管理 ) Corporate Strategies & Risk Management ( 公司戰略與風險管理 ) To be signed 29

30 Shortest route to qualify as CPA (Practising), with full exemptions* from Hong Kong PC Examinations *All QP students registered on or after 1 January 2008 and hold a non-hong Kong accountancy degree will need to sit and pass the Aptitude Test on Hong Kong Law for Practicing Certificate issuance purpose. 30

31 31 HKSAR Government s Continuing Education Fund reimbursement up to $10,000

32 Advanced Standing in Master Programmes Credit transfer Subject exemptions 32

33 33 QP Introduction Affiliate Clubon HKICPA

34 QP Affiliate Club To develop closer ties between the Institute and students Employers You Accounting Professionals 34 QP Affiliate Club regularly organises students activities, such as

35 QP Affiliate Club Activities QP Case Analysis Competition Career Forum 35 Seminar E-newsletter

36 Who can join the QP Affiliate Club? All Accounting and Business undergraduate and postgraduate tertiary students. No membership fee is required! JOIN NOW! other-services/qp-affiliate-club/ 36

37 Enquiries For further information, please contact our Student Education & Training Department at: Hotline: (852) Website: 37

38 38 Q&A Session

39 Mutual Examination Paper Exemption with CIMA (1/7/06-30/6/11) (Regardless when they became CIMA members) Conditions for CIMA members to join HKICPA Conditions for HKICPA members to join CIMA 1. Hold a recognised university degree 2. Passed CIMA Professional Qualification Programme 3. Completed and passed QP workshop Module A or C, and examinations of both modules 4. Passed QP final examination 5. Passed Institute s aptitude tests on HK law and taxation 6. Obtained 3 years practical experience under an Institute-authorised employer or supervisor 7. Be a CIMA member in good standing 8. Meet Institute s standard membership 39 requirements Sit and pass Paper 3 (Management Accounting Risk and Control Strategy) of CIMA Pass TOPCIMA (Test of Professional Competence in Management Accounting) of the CIMA Professional Qualification Pogramme Meet 3 years practical experience under as management accountant recognised by CIMA Meet CIMA standard membership application requirements

40 Agreement for Recognition Arrangements with ACCA (1/7/10 30/6/15) (For students registered after 15 August 2004) Conditions for ACCA members to join HKICPA 1. Hold a recognised university degree Conditions for HKICPA members to join ACCA 2. Passed 14-paper ACCA professional examination in HK or U.K. 3. Completed and passed workshop of one of the QP modules 4. Passed QP final examination 5. Passed Institute s aptitude tests on HK law and taxation or ACCA HK variant law and tax papers Hold a recognised university degree Pass QP Meet 3 years practical experience under an Institute-authorised employer or supervisor Meet ACCA standard membership application requirements 6. Obtained 3 years practical experience under an Institute-authorised employer or supervisor 7. Meet Institute s standard membership requirements Have qualified in HK or the UK

41 Mutual Recognition Agreement with CPA Australia (1/7/ /6/2015) Conditions for CPA Australia members to join HKICPA 1. Hold a recognised Australian degree 2. Pass CPA Australia CPA Programme in Australia or Hong Kong All compulsory core & mandatory segments of: Financial Reporting and Disclosure/Financial Reporting; Financial Risk Management; and Assurance Services and Auditing/Advanced Audit & Assurance 3. Complete workshops of Module A (Financial Reporting) of QP 4. Pass Institute s Aptitude test or CPA Australia's courses in Hong Kong Law and Tax 5. Meet Institute s practical experience requirements by having at least 3 years of practical experience under an Authorized 41 Employer/Supervisor Conditions for HKICPA members to join CPA Australia Hold a recognised university degree Pass QP in Hong Kong Meet Institute s Practical experience requirements

42 Mutual Examination Paper Exemption with AIA (1/6/08 31/5/13) Conditions for AIA members to join HKICPA 1. Hold a recognised university degree 2. Pass the 16-paper AIA Qualifying Examination in Hong Kong or the U.K 3. Complete and pass the workshops of Module A (Financial Reporting), Module B (Financial Management), Module C (Auditing and Information Management) and Module D (Taxation) of the Institute s QP 4. Pass the module examination of Module B (Financial Management) of the QP 5. Pass QP final examination 6. Pass Institute s aptitude tests on Hong Kong law and taxation 7. Meet Institute s practical experience requirements 8. Be an AIA member in good standing and were registered as a student of AIA Meet Institute s standard membership requirements Conditions for HKICPA members to join AIA 1. Pass QP 2. Meet AIA standard membership application requirements

43 Passing Rate 2009 Dec intake workshop examination overall Module B Module D Jun intake Module A Module C workshop examination overall Final Examination (June 2010 intake)