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The Secretary for Financial Services and the Treasury (SFST), Mr Frederick Ma, has appointed Mr John Poon Cho-ming, and re-appointed Mr Chow Chung-kong, Mr Paul Chow Man-yiu and Ms Sophia Kao Ching-chi as lay members of the Council of the Hong Kong Institute of Certified Public Accountants (HKICPA).
The appointment and re-appointments, made under the Professional Accountants Ordinance, will be for a two-year term with effect from December 15, 2005.
"We are thankful to the outgoing lay member, Mr Edward Cheng Wai-sun, for his invaluable contribution to the council during his term of office," Mr Ma said today (November 29).
"The appointment of lay members to the council signifies the opening up of the governance of the HKICPA, thereby further enhancing the transparency and independence of the regulation of the accountancy profession," he said.
Under the Professional Accountants Ordinance, the HKICPA Council comprises a maximum of 23 people, including four lay members appointed by the Chief Executive, two ex-officio members (namely, the representative of the Financial Secretary and the Director of Accounting Services), the immediate past president and other members who are certified public accountants. The power of the Chief Executive to make appointment to the council has been delegated to SFST.
The HKICPA is the statutory licensing body for accountants and currently has more than 25,000 members. It is responsible for matters such as the regulation and development of the profession, and the promulgation of financial reporting standards. The Council of the HKICPA is the governing body of the Institute.
Ends/Tuesday, November 29, 2005
Issued at HKT 16:01
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