join a league of its own be a cpa · 2010-11-01 · advice and management education accountancy. 7...
TRANSCRIPT
Ms. Tera Mak / Ms. Shelby Tai
Manager
Student Education & Training
Hong Kong Institute of Certified Public Accountants
Join a league of its own –
Be a CPA
2
Agenda
Q & A
Benefits of QP & QP Affiliate Club
Route to CPA & Structure of QP
Introduction of HKICPA
Accountancy career prospects
3
Introduction on HKICPAAccountancy career prospects
Ms. Tera Mak
Manager
Student Education & Training
Hong Kong Institute of Certified Public Accountants
4 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)
5
Who can Join the Accountancy Profession?
Good
Accountant
Good communication skills
(oral and written)
Hard working
(long working hours
for fresh graduates)
Sociable
(need to communicate with
different people)
Inquisitive
Honest and
confident
Interest in business and
economic development
Sensitive to
numbers
Analytical
6
Scope of Accountancy Profession
Professional
Accountants
Audit
Taxation
Insolvency
Management
Consultancy
Information
ManagementLegal
Assistance
Company
Secretarial
Services
Financial
Advice and
Management
Education
Accountancy
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
8
Occupational Sectors for CPAs
CPA firms
Commercial companies
Government
Education
9
Career Path in CPA Firms
Staff (Yr. 1-2)
Senior Accountant (Yr. 3-5)
Manager (Yr. 6-8)
Partner (Yr. 12+)
Senior Manager (Yr. 9-11)
10
Career Path in Commercial Companies
Finance Director / CFO
Financial Controller
Accounting Manager
Senior Accountant
Accountant
Assistant Accountant
11
Audit
CommissionTreasury
Inland Revenue
Department
Accounting Officer
Auditor /Examiner
Assistant Assessor /
Tax Inspector
Career Path in the Government
12Source: Salary Survey 09/10, Michael Page International
Role Salary (HK$'000/yr)
Accounting & Finance
Chief financial officer 1.7 - 3 million+
Financial controller 900 - 1.2 million
Finance manager 700 - 900
Financial analyst 300 - 500
Accountant (Pre-qualified/qualified) 300 - 400
Treasury
Treasury director 1.2 - 1.8 million+
Treasury manager 750 - 1.2 million
Taxation
Tax director 1.2 - 1.8 million+
Tax manager 750 - 1.2 million
Internal audit
Internal audit director 1.2 - 2 million+
Senior internal audit manager 900 - 1.3 million
Audit manager 600 - 900
Salary Trend in 2009/10
13
Introduction on HKICPAIntroduction of HKICPA
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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
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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
HKICPA Scope of Work
16
Members' Growth Rate
Aug 2010
30,610
566
17
CPA (Practising)
(3,769) 12.3%
(26,841) 87.7%
CPA
(Statistics as at Aug 2010)
18
Introduction on HKICPARoute to CPA
19
Qualification Programme
HKIAAT+
Professional Bridging
Examination
4 Entry Routes to Join the QP
^PRC and overseas university graduates will be assessed on a case-by-case basis.
CICPA members (Exempted from Three Modules)
Conversion Programme
Sub-Degree HoldersNon-Accounting Degree Holders
Recognised Accounting
Degree Holders^
20
Qualification Programme (QP) Members of recognised
accountancy bodies
5 types of agreements
PC Exam
+ 3-year practical experience in accounting (1/1/05 – AE/AS)
CPA (HKICPA member)
+ auditing experience
CPA (Practising)
CPA Admission Requirements
21
Introduction on HKICPAStructure of QP
22
QP
QP Components
23
Qualification Programme (QP)
Module A
Financial
Reporting
Module B
Corporate
Financing
Module C
Business
Assurance
Module D
Taxation
Open-book Exam
Module Workshops (study materials provided)
Open-book Exam
Final Examination
24
Why Workshops?
• Develop research, problem solving and communication skills
• Provide the practice and the hands on experience
• Learn from the fellow students and Workshop Facilitators
• Provide feedback on learning and development
25
Why Open-book Examination?
• Assimilate working environment
• Emphasise application instead of memorising
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
27
Introduction on HKICPA
Ms. Shelby Tai
Manager
Student Education & Training
Hong Kong Institute of Certified Public Accountants
Benefits of QP
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)
29
• Accounting (會計)
• Auditing (審計)
• Financial Cost Management (財務成本管理)
CEPA Agreement – Extension of MEPE
• HKICPA members exempted from THREE Papers
of the PRC CPA Uniform Examination
Exempted
• Corporate Strategies & Risk Management
(公司戰略與風險管理)
To be signed
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.
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• HKSAR Government’s
Continuing Education Fund
reimbursement up to $10,000
32
Advanced Standing in Master Programmes
• Credit transfer
• Subject exemptions
33
Introduction on HKICPAQP Affiliate Club
34
QP Affiliate Club
To develop closer ties between the Institute and students
QP Affiliate Club regularly organises students activities, such as…
Employers
Accounting
ProfessionalsYou
35
QP Case Analysis Competition
Seminar E-newsletter
Career Forum
QP Affiliate Club Activities
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Who can join the QP Affiliate Club?
All Accounting and Business undergraduate and post-
graduate tertiary students.
No membership fee is required!
JOIN NOW!
www.hkicpa.org.hk/en/become-a-hkicpa/
other-services/qp-affiliate-club/
37
Enquiries
For further information, please contact our Student
Education & Training Department at:
Hotline: (852) 2287 7228
Email: [email protected]
Website: www.hkicpa.org.hk
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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
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 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
Conditions for HKICPA members to join
CIMA
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
2. Passed 14-paper ACCA professionalexamination in HK or U.K.
3. Completed and passed workshop ofone of the QP modules
4. Passed QP final examination
5. Passed Institute’s aptitude tests on HKlaw and taxation or ACCA HK variantlaw and tax papers
6. Obtained 3 years’ practical experienceunder an Institute-authorised employeror supervisor
7. Meet Institute’s standard membershiprequirements
8. Have qualified in HK or the UK
• 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
Conditions for HKICPA members to join
ACCA
41
Mutual Recognition Agreement with CPA Australia
(1/7/2010 – 30/6/2015)
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
Employer/Supervisor
• Hold a recognised university degree
• Pass QP in Hong Kong
• Meet Institute’s Practical experience
requirements
Conditions for HKICPA members to
join CPA Australia
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
9. Meet Institute’s standard membership
requirements
1. Pass QP
2. Meet AIA standard membership
application requirements
Conditions for HKICPA members to
join AIA
43
Passing Rate
workshop examination overall
95
96
44
54
51
58
Module A
Module C
Final Examination (June 2010 intake) 61
Module B
Module D
2009 Dec intake
2010 Jun intake
workshop examination overall
96
97
56
55
63
62