New initiative gives CPAs added skills
The launch of a new specialist insolvency programme by the Hong Kong Institute of Certified Public Accountants (HKICPA) marks a new initiative designed to provide insolvency specialists with additional skills and increased recognition for their competencies.
Alison Wilde, HKICPA director of professional development, says the institute's first Specialist Qualification SQ (Insolvency), introduced in June, is aimed at qualified certified public accountants (CPAs) or individuals working in the field of insolvency who already specialise, or wish to become recognised for their insolvency competencies.
"We know our members are increasingly specialising in a particular area of expertise. To help them, the SQ (Insolvency) qualification covers liquidation, corporate rescue and restructuring, and personal insolvency taught through a mix of training, workshops and self-learning," Wilde says.
She says the SQ initiative is another example of how the HKICPA strives to provide members with specialist support that can help them excel in their fields of expertise. Wilde says the HKICPA also plans to introduce additional programmes in relevant specialist areas.
Candidates for the one-year programme, open to members of the institute and individuals working in insolvency, are required to have at least two year's recent insolvency work experience or to have successfully completed the HKICPA's Insolvency Preparatory courses.
CPAs who complete the programme are entitled to use the title SQ (Insolvency) after their name. Senior insolvency practitioners who acquire the SQ and can demonstrate a high level of competency may be awarded a specialist designation. Previous graduates from the HKICPA's diploma in insolvency are entitled to use the SQ (Insolvency).
"The programme offers a career path incentive for CPAs who would like to achieve the SQ (Insolvency) followed by the specialist designation or SD (insolvency), due to be launched in November," Wilde says. She says CPA insolvency practitioners can help companies and individuals through careful assessment and handing of their assets and making a fair distribution to creditors.