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The Secretary for Financial Services and the Treasury (SFST), Mr Frederick Ma, has appointed Mr Ambrose Cheung as a lay member of the Council of the Hong Kong Institute of Certified Public Accountants (HKICPA). The appointment, made under the Professional Accountants Ordinance, will be for a term of two years with effect from tomorrow (December 16).
Mr Ambrose Cheung is an executive director of Lai Sun Development Company Limited. He is also a member of the Sham Shui Po District Council and the Advisory Committee of the Securities and Futures Commission.
"We are thankful to the outgoing lay member, Mr Paul Chow, for his invaluable contribution to the council during his term of office," Mr Ma said today (December 15).
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 appointments to the council has been delegated to SFST.
The HKICPA is the statutory licensing body for accountants and currently has more than 26,000 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/Friday, December 15, 2006
Issued at HKT 16:30
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