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• Owing to the adoption of IFRS in Macau in January, ACCA Hong Kong was invited by the Committee for the Registry of Auditors and Accountants (CRAC) of Macau SAR’s Finance Services Bureau to jointly organise a series of 22 seminars and eight industry-specific workshops on IFRS for accounting and auditing practitioners in Macau. The seminar series was officiated by Orieta Lau, director of the Finance Service Bureau of Macau SAR Government, and Dilys Chau, the immediate former president of ACCA Hong Kong. The series ran from March to November.  
• As part of ACCA Hong Kong's ongoing relationship with the Trade and Industry Department (TID), the following were undertaken:
  • 2007/08 SME Mentorship Programme: ACCA Hong Kong is one of the co-organisers and members of ACCA Hong Kong’s SME Interest Group act as mentors for SMEs recruited by TID
  • Free Business Advisory Service: ACCA SME Sub-committee members provided a free advisory service to SMEs at TID's Support and Consultation Centre for SMEs (SUCCESS), and at the TID booth during the World SME Expo (December) organised by the Hong Kong Trade Development Council. 
  • Business start-up budget analysis worksheet: at the request of SUCCESS, ACCA Hong Kong launched a worksheet in Chinese which has been continuously used by business start-ups visiting SUCCESS to estimate the initial capital required and the financial position of their new businesses. The worksheets are posted on ACCA’s website and there is a link to the spreadsheet on SUCCESS’s website.
  • ACCA Hong Kong and SUCCESS co-organised four seminars on accounting and financial management topics.
• ACCA Hong Kong sponsored the WiseGiving project launched by the Hong Kong Council of Social Service (HKCSS) in December, which aims to enhance charity accountability and transparency in Hong Kong. ACCA Hong Kong president Morison Chan was invited to attend the press conference to share his experience of donating wisely through financial information.
• ACCA Hong Kong and the Institute of Financial Planners of Hong Kong (IFPHK) co-organised the Financial Services Career Fair in November. The career fair, visited by over 1,000 visitors, aimed to provide a recruitment platform for accounting and financial services organisations to reach out to those who aspire to develop a career in accounting and finance. The two organisations also organised a joint CPD seminar on 'Better Financial Planning for Your Clients' in November, which attracted over 270 ACCA and IFPHK members.
• A seminar on the 'Development and Update of International and Hong Kong Accounting and Auditing Standards Impacting SMEs and SMPs' was jointly held by ACCA Hong Kong and The Society of Chinese Accountants & Auditors (SCAA) in November. It was given by Paul Chan, former president of ACCA Hong Kong and the national body HKICPA, and a member of the IFAC SMPC and IASB’s Working Group on SME Accounting Standards, and Nelson Lam, sub-committee member of ACCA Hong Kong. More than 600 members of both associations attended the seminar.
• ACCA Hong Kong attended 75 events organised by universities and colleges, and provided 76 sponsorships for student activities. Over 25 scholarships were awarded to outstanding sub-degree, degree and post-graduate students. Forty new accreditation submissions were received, resulting in 28 new programmes being accredited.
• The following technical submissions were made by ACCA Hong Kong:
  • 2008/09 Budget Proposals, submitted to the Financial Secretary
  • a response to the consultation on broadening Hong Kong’s tax base released by the Financial Services and the Treasury Bureau. The response was based on a survey of Hong Kong members on various proposed ways of broadening Hong Kong’s tax base
  • a submission on the Companies Ordinance Rewrite on the Accounting and Auditing Provisions was made to the Financial Services Branch of the Financial Services and the Treasury Bureau
  • comments on proposed periodic financial reporting were submitted to Hong Kong Exchanges and Clearing Ltd
  • in view of the proposed IASB SME FRS, a submission to the Hong Kong Institute of Certified Public Accountants regarding the handling of local SME FRS.
• The ACCA Hong Kong Taxation sub-committee launched a monthly tax column in the Oriental Daily News, a major Chinese newspaper in Hong Kong.
• ACCA Hong Kong coordinated the translation and publication of the Chinese version of the GRI G3 Sustainability Reporting Guidelines and Protocols, a joint project with the Chinese Business Council for Sustainable Development (CBCSD). The Chinese version has been widely distributed to enterprises and organisations in Mainland China.
• ACCA Hong Kong was awarded the Caring Organisation title by the Hong Kong Council of Social Services, for its contribution to the community.
• ACCA is the lead sponsor of the thought-leadership SCMP/HKU China Business Seminar Series. Three seminars were held in 2007, at which distinguished speakers spoke about policy reforms in healthcare, property markets, and capital markets in China. The series attracted around 450 senior business leaders and MBA students. Dean Westcott, ACCA Council member, was a panel speaker in the seminar on healthcare policy reform, while Richard Sun, former president of ACCA Hong Kong, spoke in the capital market seminar.
• A press conference was organised in February to share highlights of ACCA Hong Kong’s budget proposal to the HKSAR Government, and to explain ACCA’s recommendations regarding broadening the tax base.
• The ACCA/Michael Page Accounting and Finance Market Survey 2007 was conducted to gauge salary trends, talent retention strategies and training gaps for accounting and finance professionals. A press conference in September announced the survey results, which comprised the views of 253 employers and 1,971 employees. Over 20 journalists attended the press event, resulting in a huge number of media reports.
• Significant media coverage was give to the ACCA Free Tax Advisory Service, including items on TVB, Now TV, Metro Daily, HKET, AM730, and Apple Daily. The publicity resulted in thousands of inquiries to the FTAS hotlines and to the inquiry centre operated by member volunteers in May.
• The ACCA Hong Kong Awards for Sustainability Reporting 2007 were held in December, officially endorsed by the Sustainable Development Council and Environmental Protection Department of Hong Kong SAR Government, and supported by 14 business chambers and organisations. Dr Lily Chiang, Member of Council for Sustainable Development was guest of honour and the ceremony was attended by 50 industry leaders and representatives from stakeholder organisations.
• The annual ACCA Job-Hunting Competition, a university campus promotion event, was held from February to March. Over 10 internship placements were sponsored by employers, including Hang Seng Bank, DBS Bank, Taifook Securities, OOCL, Horwath Hong Kong CPA and Lam Soon (Hong Kong). Other sponsors included the British Council, Deloitte, Hopewell Holdings, Hong Kong Dragon Airlines, Michael Page International, SBM Success by Magic Training Methodology, SCMP Classified Post, Texon International, and University of Cambridge ESOL. The competition attracted entries from over 300 undergraduate students in various disciplines.
• Following the launch of the new global advertising campaign on 'three-dimensional' accountants, ACCA Hong Kong ran a new set of adverts on MTR platforms and at the international airport from November to December. The campaign promoted the key message that ACCA accountants are fit for the business challenges of the 21st century. 
• A TV infomercial, featuring interesting facts and figures about ACCA and the accountancy profession, was broadcast on 600 TV monitors in commercial building lobbies across the city for three weeks in January. 
• A seminar on 'Accounting in Business - Opportunities for High School Graduates', was jointly organised with Hok Yau Club in July. The seminar was attended by 230 high school students, accounting teachers and parents. During the seminar, distinguished speakers introduced CAT, and career guidance was delivered by a social worker from the Hok Yau Club.
• ACCA Hong Kong jointly developed an accounting success skills workshop with Junior Achievement Hong Kong and co-hosted the first workshop in March. The workshop allowed 100 high school students to meet 28 ACCA members who acted as business volunteers. The purpose of the workshop was to prepare the students for the workplace and to introduce the career options in accounting and finance. It is planned that more accounting success skills workshops will be run between ACCA Hong Kong and JA Hong Kong in 2008.
• The inaugural ACCA Hong Kong Business Competition was held in November. The Competition aims to equip sub-degree business and accounting students with the basic accounting knowledge, business and communication skills required by an accountant. The inaugural competition, held in November, attracted over 500 students from 155 teams. At the final competition in November, ACCA president Gill Ball was one of the panel judges and presented the awards to the winning teams.

Members’ achievements

• Ada Chung FCCA was appointed to the post of Registrar of Companies of the Company Registry
• Dilys Chau (immediate former president of ACCA Hong Kong), Kevin Lau (ACCA Council member), Kenneth Lam (former chairman of ACCA Hong Kong), Nelson Lam (sub-committee member of ACCA Hong Kong), Wilson Fung, and Edmond Chan were appointed as members of the Financial Reporting Review Panel of the Hong Kong Financial Reporting Council
• Shum Man To FCCA was appointed as CEO of the Financial Reporting Council.

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