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HONG KONG

UPCOMING EVENTS Joint CIMA and CMA Canada monthly networking lunch This networking lunch is open to all members and students of CIMA and CMA Canada. It's a chance to catch up with old friends and meet new ones, so help us make this event enjoyable and bring your friends along too! Date: Time: Venue: Fee: Registration:

Wednesday 10 October 2012 1.00pm – 2.00pm 12/F The Chinese Club, 21 - 22 Connaught Road Central, Hong Kong Chinese lunch at HKD120 per person. Please settle your own bill. A table is reserved under Mr Yau Yin Kwan, Joseph of CMA Canada. If you are interested in joining us, please email hongkong@cimaglobal.com.

CIMA CPD networking seminar - Insights into the future of finance and implications for you CIMA works closely with major employers and academics in order to maintain a keen understanding of how the role of the finance function and employers’ needs of their finance professionals are changing. We apply this understanding to continually develop our syllabus and produce content so as to help our members to better serve their employers and thereby future-proof their careers. Peter will share insights from this work, and cover the following areas: • • • • •

What finance does The drive to increase efficiency Better Information is needed Greater Influence is expected People Development is required

Date: Time: Venue: Fee: CPD: Speakers: Language: Registration:

Monday 15 October 2012 6.30pm – Cocktail reception 7.15pm – Presentation Mariner’s Club, 3/F, China Coast Bar, 11 Middle Road, TST, Hong Kong Gratis One hour Peter Simons MBA, ACMA, Technical specialist, CIMA English Please register online before 10 October 2012

CIMA HONG KONG

CIMA Hong Kong Newsletter October 2012

OCTOBER 2012

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UPCOMING EVENTS CIMA supported event on Accountability, sustainability & the world’s largest corporations This seminar is based on a published essay that attempts to address, yet again, the unsubstantiated but seriously dangerous claims made about the nature of both social responsibility and sustainability. Date: Time: Venue: Fee: Speakers: Registration:

Thursday 25 October 2012 4.30pm – 5.00pm Registration and Tea reception 5.00pm – 6.15pm Seminar and Discussion PolyU Hung Hom Bay Campus (HHB UG06) Gratis Professor Rob H. Gary, Director of The Centre for Social and Environmental Accounting Research, School of Management, University of St Andrews, Scotland Please send an email to Ms Joanne Wong: spjoan@speed-polyu.edu.hk with your name, organization and contact information.

CIMA supported event on 2012 ACFE Asia-Pacific Fraud Conference CIMA members could enjoy member conference rates for the 2012 ACFE Asia-Pacific Fraud Conference. It offers the region’s most comprehensive anti-fraud training. This year, ACFE, the world’s largest anti-fraud organisation and premier provider of anti-fraud training and education, brings together an outstanding speaker line-up that promises the latest anti-fraud techniques, trends and best practices from the region’s industry leaders at this meeting. *CIMA members can use promotional code AP12CIMA during registration to enjoy member conference rates. Date: Venue: Fee: Organiser: Registration: Enquiries:

4 – 6 November, 2012 Kowloon Shangri-La, Hong Kong USD 1250 (Use promotional code AP12CIMA during registration) Association of Certified Fraud Examiners (ACFE) Please contact the ACFE Asia-Pacific Office at (+65) 6411 6696 or acfe2012@mci-group.com For more information, please visit www.ACFE.com/AsiaPac

Joint CPD networking seminar with Kaplan & Norton: Contemporary Performance Management The Balanced Scorecard is 20 years old. To mark the occasion the inventors of the Balanced Scorecard; Professor Kaplan and Dr Norton will be kicking off a series of special CIMA events. The “Kaplan & Norton: Contemporary Performance Management” series will head out to Hong Kong on 27 November 2012 at the Hong Kong University – SPACE. Date: Time: Venue: Fee: Language: CPD: Speakers: Registration:

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Tuesday 27 November 2012 6.30pm – 7.15pm Cocktail reception 7.15pm – 9.15pm Seminar Hong Kong University – SPACE, Room 205, 2/F, Admiralty Centre, Admiralty, HK Gratis Cantonese 2 hours Mr William Chu, FCMA, CGMA – Manager, PRC Development of CLP Ms Irelan Tam, FCMA, CGMA – Regional Finance Director of Johnson & Johnson Medical Asia Pacific Please register online before 19 November 2012

CIMA Hong Kong Newsletter October 2012


NEWS Talent pipeline draining growth: Connecting human capital to the growth agenda Global executives are becoming increasingly aware of the importance of human capital and talent development but a lack of effective management in this area hinders growth, competitiveness, financial performance and innovation. This report shows how senior executives often have misaligned and divergent views on who is responsible for managing human capital performance. Furthermore, the c-suite is faced with a lack of reliable human capital management which impacts an organisation’s ability to make agile and effective decisions. The report recommends a series of actions to improve the performance of human capital management and align the organisation’s human capital to deliver on its strategy: • Embed human capital strategy within the wider overall business strategy. • Focus on getting the right information and translating it to actionable insight. • Leverage the relevant skill set for credibility and actions. • Structure the organisation to encourage closer collaboration and partnering. • Talent Pipeline Draining Growth collates the views of senior peers across the c-suite which show that finance and HR need to collaborate more closely and use the skills unique to management accountants.

Call for Nominations to the North Asia Regional Board (NARB) and Hong Kong Branch (HKB) The North Asia Regional Board (NARB) is the primary governance structure for CIMA in North Asia. Its formation was agreed and approved by CIMA’s Council at its meeting in July 2011. For the first time members will be elected from the membership base within North Asia to serve on this Board. What sort of people are we looking for to fill the NARB seats? To be eligible to stand as a candidate, you must be: • A CIMA member in good standing with CIMA; • Resident in North Asia. The competencies required are the abilities to: • actively participate in taking a strategic look at the direction the North Asia Regional Board should take while being consistent with CIMA’s global Council agreed strategy; • delegate strategy implementation to the Regional Director, CIMA North Asia; • make a wholehearted commitment to Board responsibilities; • weigh arguments even though different from own; • challenge in a supportive and constructive manner; • communicate effectively with diverse groups of people and individuals on complex issues; • ensure that adequate time is given to the preparation and execution of Board duties. NARB vacancies SEAT NARB member NARB member NARB member

ELECTORATE Mainland China Hong Kong North Asia

VACANCIES One One One

TERM 3 years 3 years 3 years

START DATE 1 Jan 2013 1 Jan 2013 1 Jan 2013

CIMA Hong Kong Newsletter October 2012

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NEWS Hong Kong branch committee vacancies As a subsidiary body accountable to the North Asia Regional Board, the Hong Kong Branch committee has the below seats that also needs to be elected:SEAT HK Branch committee member HK Branch committee member

ELECTORATE Hong Kong Hong Kong

VACANCIES Two Three

TERM 3 years 2 years

START DATE 1 Jan 2013 1 Jan 2013

If you are aware of CIMA members in your community who fulfil the above criteria, please talk to them and nominate them to the Board/ Branch. If you fit this profile and are keen to participate at a regional level, please talk to your CIMA colleagues and ask them to nominate you. The deadline for nominations is 12.00 noon 26 October 2012. It is only through the active participation of our members that CIMA can continue to grow from strength to strength. If you have any questions, do please get in touch with me. Documents PRINCIPLES FOR THE COMPLETION OF NOMINATION FORMS FOR ELECTION ROLE OF BOARD MEMBER & BRANCH COMMITEE MEMBER NOMINATION FORM – NARB NOMINATION FORM – HK BRANCH

Celebrating the 75th anniversary of The Hong Kong Polytechnic University CIMA and the Poly University’s school of accounting & finance have always had a very close relationship, with many CIMA members also being alumnus of Poly U. To celebrate the 75th anniversary of Poly U, the University has invited Professor Robert Mundell (Poly U Hon DBA/2009), Nobel Laureate in Economics and Professor of Economics at Columbia University, to speak at the Poly U 75th Anniversary Conference: Stabilizing the World Economy. The Conference aims to address some of the pressing issues that have implications for the stabilization of the world economy, such as the recovery of major economies and emerging markets, the impacts of the European debt crisis, the problems and solutions of having an Asian currency, and the role of the world currency system. The event details: Date: Time: Venue: Organiser: Enquiries:

Wednesday 14 November 2012 9:00 a.m. – 6:00 p.m. Silverbox Ballroom, Level 1, Hotel ICON, 17 Science Museum Road, TST East, Kowloon The Hong Kong Polytechnic University, School of Accounting & Finance Please visit the event website at http://www.polyu.edu.hk/75thanniversaryconference/

CIMA member on the move Ms Lilian Chin ACMA, CGMA Lilian Chin has been appointed of as the Director of Finance at Metrojet. Lillian will oversee all aspects of the finance function, including strategic planning, budgeting, forecasting, investment evaluations, tax advisory, treasury management as well as the overall financial controllership. Lillian has more than 20 years of experience gained from both audit and commercial organizations. She was based in London for over 10 years, in an audit capacity at the start of her career, then came to Hong Kong in 1994 to further her professional practice in Ernst & Young and Deloitte Touche Tohmatsu respectively. Lillian subsequently moved into the commercial field with Bloomberg LP as a Regional Financial Controller for 8 years. She proceeded to take on the Vice President of Finance – Asia Controller role with Moody’s Asia Pacific, and later joined Savills Asia Pacific as a Regional Finance Director and was promoted to Chief Finance Officer. Lillian was last with LSE listed Intertek Group, looking after Bangladesh, Cambodia, India, Philippines, Sri Lanka, Thailand and Vietnam. Lillian also holds an MBA from the University of Manchester.

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CIMA Hong Kong Newsletter October 2012


STUDENT SERVICES CIMA preparatory course on paper F3, P3 and T4 CIMA Hong Kong is organising a series of preparatory courses for students who are taking the CIMA professional examinations. Interested parties please submit your application and cheque to CIMA Hong Kong offices as soon as possible. There are a limited number of seats left and application will be treated on a first come first served basis. Venue: Fee: Registration: Enquiries:

CIMA Hong Kong – Suite 2005, Tower One, Times Square, Causeway Bay HKD500/class Please register by email Joanna.cheung@cimaglobal.com Please contact Joanna Cheung at 3741 1957 or go to http://www.cimaglobal.com/Our-locations/HongKong/Students/

Paper F3 Financial Strategy Financial Management Capital Structure and Cost of Capital Valuations Investment Appraisal Techniques P3 Performance Strategy Review of audit of Control Systems Management of Financial Risk Risk and control in information system Review of audit of Control Systems T4 TOP CIMA Reviewing for the pre-seen case Reviewing for the pre-seen case Reviewing for the pre-seen case Reviewing for the pre-seen case

Date

Time

Location

Thu 4 Oct Thu 18 Oct Thu 25 Oct Thu 8 Nov

6.30-10.00pm 6.30-10.00pm 6.30-10.00pm 6.30-10.00pm

CIMA office CIMA office CIMA office CIMA office

Sat 13 Oct Sat 13 Oct Sat 3 Nov Sat 3 Nov

9.30-1.00pm 2.00-5.30pm 9.30-1.00pm 2.00-5.30pm

CIMA office CIMA office CIMA office CIMA office

Wed 3 Oct Wed 10 Oct Wed 24 Oct Wed 31 Oct

6.30-10:00pm 6.30-10:00pm 6.30-10.00pm 6.30-10.00pm

CIMA office CIMA office CIMA office CIMA office

Strategic level pre-seen material - available to students on 8 October The new strategic level pre-seen material for the November 2012 and March 2013 exams will be released to students on Monday 8th October at www.cimaglobal.com/strategicpreseen

Exam technique workshop for Strategic level and T4 Part B CIMA Hong Kong is going to organise the exam technique workshop for Strategic level and T4 Part B in November.. It is aimed at helping students to get well prepare for the upcoming exams. The workshop is hosted by Mr. Samuel Li, CIMA Study Support and Learning Specialist and the workshop will cover useful exam techniques such as time management, good answer planning and other exam tips. Date: Time: Venue: Fee: Registration: Enquiries:

Thursday 1 November 2012 (Strategic level) Tuesday 6 November 2012 (T4 Part B) 7.00 – 8.30pm CIMA Hong Kong Office, 2005, 20/F Tower One, Times Square, Causeway Bay Gratis Please email your name and contact ID to Joanna.cheung@cimaglobal.com 3741 1957 CIMA Hong Kong Newsletter October 2012

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STUDENT SERVICES New test platform for CIMA Certificate in Business Accounting (CBA) From 1st Oct 2012, CIMA Certificate in Business Accounting (CBA) examinations has been moved to the Pearson VUE testing platform. In addition to the preferred CBA centre, British Council Hong Kong, students may also choose to take examinations at their nearest Pearson VUE centres. More information can be found on the CIMA global website: http://www.cimaglobal.com/Students/Entry-level-certificate-in-business-accounting/Exams/ There will be a short tutorial lasting 15 minutes for students to complete before the start of their computer based assessment. During the tutorial they will be able to practice submitting answers to all question types they might encounter in the assessment as well as familiarise themselves with the test navigation. Practice examinations can be downloaded here: http://www.cimaglobal.com/Students/Entry-level-certificate-in-business-accounting/Certificate-in-business-accounting-from-2011/ Students are advised to download and read the latest guidance notes prior to taking their examinations. http://www.cimaglobal.com/Documents/Student%20docs/2011_CBA/CBA%20guidance%20notes%20for%20candidates_sept12_v2.pdf

OTHER PAST EVENTS AND ENGAGEMENTS Staff conducted the seminar in CU SCS

11 September 2012

Mr Richard Kenworthy, CIMA HK Branch President attended the annual dinner organised by AWAHK

17 September 2012

Staff attended the CFO Innovation Asia Forum

19 September 2012

The Branch Committee and staff attended the National Day Celebration Dinner organised by HKICPA

20 September 2012

Mr Richard Kenworthy, CIMA HK Branch President attended the Anniversary Dinner organised by HKIRM

21 September 2012

Staff conducted the seminar in CU SCS

22 September 2012

CONTACT US CIMA Hong Kong Office Suites 2005 Tower One Times Square 1 Matheson Street Causeway Bay Hong Kong T. +852 2511 2003 F. +852 2507 4701 E. hongkong@cimaglobal.com www.cimahongkong.com Opening hours 9.30am-5.30pm (Monday-Wednesday, Friday) 9.30am-7.00pm (Thursday)

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CIMA Hong Kong Newsletter October 2012


Fraud is a global problem. Be a part of the solution. Discover the latest tools, techniques and trends in the fight against fraud at the 2012 ACFE Asia-Pacific Fraud Conference. With dynamic educational opportunities, experienced instructors and invaluable networking opportunities, this event offers the most comprehensive anti-fraud training available in the region.

KEyNotE sPEAKErs

James D. ratley, CFE President and CEO Association of Certified Fraud Examiners

Kevin Zervos, sC Director of Public Prosecutions Hong Kong Department of Justice

topics featured during the 2012 Conference include: • Essential techniques to make your fraud investigation more effective • How to detect deception in a corporate environment

2012 ACFE Asia-Pacific Fraud Conference

• What fraudsters are doing to fool auditors

HoNG KoNG | 4-6 NoVEmBEr

• How to recognise indicators of fraud within your organisation

ACFE.com/AsiaPac

Visit ACFE.com/AsiaPac to learn more about educational sessions, speakers and networking opportunities.

CIMA members can use discount code AP12CIMA during registration to enjoy member conference rates.

Visit ACFE.Com/AsiAPAC or CAll +65 6696. CIMA Hong6411 Kong Newsletter October 2012

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CIMA Hong Kong Network News October 2012  

CIMA Hong Kong Newsletter October 2012