Untitled - Confederation of Asian and Pacific Accountants
Untitled - Confederation of Asian and Pacific Accountants Untitled - Confederation of Asian and Pacific Accountants
MEMBERS UPDATES HONG KONG More females The study shows those studying accounting are increasingly female. In the final year student population, the ratio between “The change in demographics means the profession has nearly reached gender equilibrium,” says Chan. “This is a healthy development for the profession.” female and male is 64% and 36%. According to the study, the gender balance in the industry will shift from a male skew to a (Extracted from Hong Kong Institute of CPAs Website) female skew over the next three to five years. JAPAN JICPA Published the “Corporate Disclosure in Japan – Overview” The auditing and accounting system in Japan has been greatly enhanced over the past few years. The amended Certified Public Accountants Law (“CPA Law”) became effective on April 1, 2004, which has achieved the following: • strengthened auditor’s independence, changes in social and economic circumstances. This revision provides greater flexibility for Japanese corporations with respect to their corporate governance structure. Auditing requirements are stipulated based on the structure selected. • established the Certified Public Accountants and Auditing Oversight Board (“CPAAOB”), • commenced CPAAOB’s monitoring of quality control reviews performed by the Japanese Institute of Certified Public Accountants (“JICPA”), • launched a reform of the examination system for Certified Public Accountants, and • made continuing professional education compulsory This booklet is the fifth edition of “Corporate Disclosure in Japan – Overview” published by the International Relations Committee of the JICPA in order to furnish both historical and up-to-date information on the outline of the corporate disclosure system in Japan. The new auditing aspects of the amendment to the Corporation Law have been incorporated into this booklet. which had formerly been operated by the JICPA on a self-regulatory basis. This booklet will assist in acquiring better understanding of an overview of the current status of corporate disclosure in After consecutive amendments over the past several years, Japan. the Commercial Code and other related laws and regulations were totally restructured and integrated into Corporation Law, to become effective May 2006. A copy of this booklet can be downloaded from the JICPA website: http://www.jicpa.or.jp. Copies of this booklet are also available on request from JICPA, please contact The objective of these amendments is to modernize the language as well as the provisions in order to reflect recent JICPA at email: international@sec.jicpa.or.jp (Extracted from Japanese Institute of CPAs Website) 14
MEMBERS UPDATES MALAYSIA MIA Prepares For The Olympics Of The Accountancy Profession July 28, 2006 - The Malaysian Institute of Accountants (MIA) is already working hard to ensure that the 18th World Congress of Accountants (WCOA) which will be held in Kuala the content of the discourses which will take place during the conference, he said, during a dinner to celebrate the winning stint in Kuala Lumpur on Friday, 28 July 2006. The dinner was also held in appreciation of all the agencies and organisations that supported MIA during the bid process. Lumpur in November 2010 will be a success. Towards this end, he added that MIA will be setting up a permanent WCOA 2010 Secretariat which will comprise people MIA President Abdul Rahim Abdul Hamid said that preparations for the event, which is four years from now are already underway. MIA is presently involved in promotional and publicity efforts as well as preparing itself for the event who are instrumental in ensuring the success of the organization of the event. It is also important that this committee possess a strong sense of continuity to maintain the momentum that has been built for the bid. and hopes to receive full support from relevant individuals and organisations to ensure the roaring success of the event. In September last year, the Malaysian Institute of Accountants (MIA) submitted its bid to host the 18th World Congress The congress will certainly put Malaysia in a global spotlight, he said. ‘’It will serve as a strategic platform to springboard into the world market and highlight our vision to become a globally recognised and respected business partner committed to nation building.’’ of Accountants in the year 2010. The WCOA is a highly respected and well-attended congress, which normally attracts over 5,000 delegates from around the world. IFAC also received bids from Belgium, India, Mexico, Spain and The Netherlands. Rahim is also confident that the congress will also help promote Malaysia as a hub for educational and business initiatives which is in line with Tourism Malaysia’s aspiration of making Malaysia a choice destination for the meetings, incentives, conventions and exhibitions (MICE) market. Apart from that, the profession itself stands to gain value from The news about the bid was conveyed by the International Federation of Accountants (IFAC)’s Chief Executive, Dr. Ian Ball after the IFAC Board meeting in Beijing, China in early June this year. (Extracted from MIA website) 15
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- Page 13: MEMBERS UPDATES HONG KONG Winnie C.
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- Page 19 and 20: IFAC NEWS United Nations Adopts IFA
- Page 21 and 22: NEW APPOINTMENTS PAKISTAN ELECTION
MEMBERS UPDATES<br />
HONG KONG<br />
More females<br />
The study shows those studying accounting are increasingly<br />
female. In the final year student population, the ratio between<br />
“The change in demographics means the pr<strong>of</strong>ession has<br />
nearly reached gender equilibrium,” says Chan. “This is a<br />
healthy development for the pr<strong>of</strong>ession.”<br />
female <strong>and</strong> male is 64% <strong>and</strong> 36%. According to the study, the<br />
gender balance in the industry will shift from a male skew to a<br />
(Extracted from Hong Kong Institute <strong>of</strong> CPAs Website)<br />
female skew over the next three to five years.<br />
JAPAN<br />
JICPA Published the “Corporate Disclosure in Japan – Overview”<br />
The auditing <strong>and</strong> accounting system in Japan has been<br />
greatly enhanced over the past few years. The amended<br />
Certified Public <strong>Accountants</strong> Law (“CPA Law”) became<br />
effective on April 1, 2004, which has achieved the following:<br />
• strengthened auditor’s independence,<br />
changes in social <strong>and</strong> economic circumstances. This<br />
revision provides greater flexibility for Japanese<br />
corporations with respect to their corporate governance<br />
structure. Auditing requirements are stipulated based on<br />
the structure selected.<br />
• established the Certified Public <strong>Accountants</strong> <strong>and</strong> Auditing<br />
Oversight Board (“CPAAOB”),<br />
• commenced CPAAOB’s monitoring <strong>of</strong> quality control<br />
reviews performed by the Japanese Institute <strong>of</strong> Certified<br />
Public <strong>Accountants</strong> (“JICPA”),<br />
• launched a reform <strong>of</strong> the examination system for Certified<br />
Public <strong>Accountants</strong>, <strong>and</strong><br />
• made continuing pr<strong>of</strong>essional education compulsory<br />
This booklet is the fifth edition <strong>of</strong> “Corporate Disclosure in<br />
Japan – Overview” published by the International Relations<br />
Committee <strong>of</strong> the JICPA in order to furnish both historical<br />
<strong>and</strong> up-to-date information on the outline <strong>of</strong> the<br />
corporate disclosure system in Japan. The new auditing aspects<br />
<strong>of</strong> the amendment to the Corporation Law have been<br />
incorporated into this booklet.<br />
which had formerly been operated by the JICPA on a<br />
self-regulatory basis.<br />
This booklet will assist in acquiring better underst<strong>and</strong>ing <strong>of</strong><br />
an overview <strong>of</strong> the current status <strong>of</strong> corporate disclosure in<br />
After consecutive amendments over the past several years,<br />
Japan.<br />
the Commercial Code <strong>and</strong> other related laws <strong>and</strong><br />
regulations were totally restructured <strong>and</strong> integrated into<br />
Corporation Law, to become effective May 2006.<br />
A copy <strong>of</strong> this booklet can be downloaded from the JICPA<br />
website: http://www.jicpa.or.jp. Copies <strong>of</strong> this booklet<br />
are also available on request from JICPA, please contact<br />
The objective <strong>of</strong> these amendments is to modernize the<br />
language as well as the provisions in order to reflect recent<br />
JICPA at email: international@sec.jicpa.or.jp<br />
(Extracted from Japanese Institute <strong>of</strong> CPAs Website)<br />
14
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