To provide a better understanding of the recent development in the international public accounting profession and its impact on the small and medium practitioners, HKICPA organized 2007 SMP Symposium on November 30 at the Hong Kong Jockey Club.

Vice President cum SMPC Chairman of HKICPA, Albert Au, delivered welcome remarks to guest speakers and over 200 participants.

The Symposium is divided into 3 major sessions: the latest development and requirements of Quality Control Framework; Taxation; and Fair Value Measurement and Disclosure. The issues and challenges in setting up and implementing Quality Control Framework under the requirements of HKSQC1 were discussed. Topics of the taxation session included the locality of profit and departmental interpretations in leasing arrangements in cross border operations. Other speakers shared their experience on Fair Value Measurement and Disclosure from the perspectives of a valuer and a CPA. Our director, Johnson Kong was also one of the co-facilitators for this session. Many participants are interested in the topics and raised many questions at the symposium.

Details please refer to the website of HKICPA, http://www.hkicpa.org.hk.