6
Committee for Accordi the Financia Guideline Money Lau Auditors, (hereinafter March 2016 The Fin Internationa regard to a crimes of correspondi members a organization the new stan office (GIF guidelines f and propose 2006’s Accordingly the Guid seminar o approximate At prese by Decree-L the Statut by Decree- two of the m auditing and Statutes p admission and obligat and crimin accountants Registered A Regulation ethical acts take a look practice in t for specific Statutes. Re enquiries. 1. In add firms Certi Professi Practice the Registry of A CR No. 45 ing to corre al Services B es for the Pr undering and Accountants r Guideline 6. Revision ancial Actio al Standard anti-money f terrorism ing standar and observe ns), includin ndards. Henc F) has rev from all sup ed various su Guidelines y , CRAC dra delines , a on 10 th Se ely 50 regist ent, the Sta Law No.71/ te of Registe Law No.72/ most importa d accounting rovides reg requirement tions, setting nal respons s. In addition Auditors, No36/2004 g s of auditors at some of th this issue of requiremen eaders are w dition to adopt ified Publi ional Guide e Q & A uditors and Acco RAC B 5 – April 2 0 esponding an Bureau’s (D evention and d Financing o s and Tax es) came int Backgroun on Task Forc Setting Or laundering m - has rds in 201 ers (or of s ng Macao, mu ce, the Finan viewed the pervisory or uggestions fo publis afted the bil and hosted eptember 2 tered auditor atute of Audi /99/M of 1 st ered Account /99/M of 1 st ant regulation g professions gulations w s of the pr g-up firms, a sibility for n, the Co approved by governs the p s and auditi he issues enc CRAC Bull nts, please re welcome to audit fir the des c Account elines ountants BULLE 016 nnouncement SF), the rev d Suppressio of Terrorism x Advisers to effect as o nd ce (FATF) - ganization w and comba revised so 12. All F A similar regio ust comply w ncial Intellige correspond gans of Ma or the revisio shed by D l for revision an explana 2015, wher rs and registe itors, appro November ants, appro t November ns governing of Macao. B with regard rofession, ri and disciplin auditors de of Ethics y Administra professional ing firms. L countered du letin. As alw fer to the ab write to us rms , co signation ant firm 1 ETIN t by vised on of m for s of 1 st the with ating ome AFT onal with ence ding acao, on of DSF. n of atory reby ered acc obj CR Sep reg firm acc thei afte and G Ma incl app cus susp ope tran G (ww enq 534 oved and oved are g the Both to ghts nary and s for ative and Let’s uring ways, bove for ould of in Ans S per firm (CP The and Me Reg may par incl or mu 2. Ans aud aud firm N countants we ective of co RAC has org ptember an istered audi ms, accoun counting insti ir opinions. er considerin d suggestion Guidelinesain Conten The main co lude: genera plying a risk stomer due picious ope erations, re nsactions, a Guidelines ww.dsf.gov.m quiries, pleas 43 or 8599 53 Macao? s: Yes. In Statute of A mitted to us mor C P A firm) in ese firms mu d are regulate eanwhile, in gistered Acc y set-up a tnership, an ludes “Regis “Registered st not contain Are regis perform au s: Yes. CP A ditors by me ditors may p ms. re in attenda llecting com ganized a co d 13 th Oc itors, registe nting firm itutions have CRAC has ng compreh ns submitted . ts of the Re ontents of the al provision k-based appr diligence a rations, refu cord keepi nd duties t is availab mo), within se contact th 344 during o accordance Auditors , e or include Certified Pub the firm's ust be set-up ed under the accordance countants , accounting nd may ado stered Accou Accountant n “CPA Firm tered aud uditing pra A firms are eans of part perform aud (Electro ance. Hereaf mment from t onsultation b ctober 2015 ered accoun ms, and e been invite made furth hensively al d to derive evised Gu e revised ns, assessing roach, intern and measure use to perfo ing, report to cooperate ble at the D the CRAC he CRAC of office hours. with Articl registered the wording blic Accoun designation p by register Statute of e with the , registered firms by opt the firm untants and ts”, but the m”. ditors per actice in CP e set up by tnership, thu diting practi April 2016 onic Version) fter, with the the industry , between 14 th 5, whereby ntants, audit professional ed to express her revisions l comments the revised uidelines Guidelinesg risks and nal controls, es to detect orm specific suspicious e. The full DSF website section. For ffice at 8599 le 3 of the auditors are g of audit ntant firmn in Macao. red auditors, f Auditors. Statute of accountants means of m name that Associatesfirm name rmitted to P A firms? y registered us registered ces in CP A e , h y t l s s s d d , t c s l e r 9 e e t . , . f s f t e o d d A

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Committee for t

Accordithe Financia《GuidelineMoney LauAuditors, (hereinafterMarch 2016

The Fin

Internationaregard to acrimes ofcorrespondimembers aorganizationthe new stanoffice (GIFguidelines fand propose2006’s 《Accordinglythe 《Guidseminar oapproximate

 

At preseby Decree-Lthe 《Statutby Decree-two of the mauditing andStatutes padmission and obligatand criminaccountantsRegistered ARegulation ethical actstake a look practice in tfor specific Statutes. Reenquiries.  1. In add

firms “Certi

Professi

Practice

the Registry of A

CRNo. 45

ing to correal Services Bes for the Pr

undering andAccountants

r 《Guideline6.

Revision ancial Actioal Standard anti-money f terrorisming standarand observens), includinndards. HencF) has revfrom all suped various su

Guidelinesy, CRAC dradelines》 , aon 10th Seely 50 regist

ent, the 《StaLaw No.71/te of RegisteLaw No.72/

most importad accountingrovides regrequirementtions, settingnal responss. In additionAuditors》, No36/2004 g

s of auditorsat some of ththis issue of requiremeneaders are w

dition to adopt

ified Publi

ional Guide

e Q & A

uditors and Acco

RAC B5 – April 20

esponding anBureau’s (Devention and

d Financing os and Taxes》) came int

Backgrounon Task Forc

Setting Orlaundering

m - has rds in 201ers (or of sng Macao, muce, the Finanviewed the pervisory oruggestions fo》 publis

afted the biland hosted eptember 2tered auditor

atute of Audi/99/M of 1st ered Account/99/M of 1st

ant regulationg professionsgulations ws of the pr

g-up firms, asibility for n, the 《Coapproved bygoverns the ps and auditihe issues enc

f CRAC Bullnts, please rewelcome to

“audit firthe des

c Account

elines

ountants 

BULLE016

nnouncementSF), the rev

d Suppressioof Terrorismx Advisersto effect as o

ndce (FATF) -ganization wand combarevised so

12. All FAsimilar regioust comply w

ncial Intelligecorrespond

gans of Maor the revisioshed by Dl for revisionan explana

2015, wherrs and registe

itors》, approNovember

ants》, approt November ns governing of Macao. B

with regard rofession, riand disciplin

auditors de of Ethicsy Administraprofessional ing firms. Lcountered duletin. As alwfer to the abwrite to us

rms” , cosignation ant firm”

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ETIN

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ditors by meditors may pms.

                         

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ms, and e been invite

made furthhensively ald to derive

evised《Gue revised 《ns, assessingroach, intern

and measureuse to perfoing, report to cooperate

ble at the Dthe CRAC

he CRAC ofoffice hours.

with Articlregistered

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p by register《Statute of

e with the, registered

firms by opt the firmuntants and ts”, but the

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        April 2016

onic Version)

fter, with thethe industry,

between 14th

5, wherebyntants, auditprofessional

ed to expressher revisionsl commentsthe revised

uidelines》《Guidelines》

g risks andnal controls,es to detectorm specific

suspiciouse. The full

DSF websitesection. For

ffice at 8599

le 3 of theauditors areg of “auditntant firm”n in Macao.red auditors,f Auditors》.《Statute of

accountantsmeans of

m name thatAssociates”firm name

rmitted toPA firms?y registeredus registeredces in CPA

e , h y t l s s s d

》 d , t c s l e r 9

e e t

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o

d d A

 

Committee for t

 

A CRAForum on 2016”, hos(DSE), on forum is cagreement Mainland aArrangemeneffect startinat nationwidomain ofprinciple thseveral sectestablishmeThe TSA agreements and will rliberalizatioregion of M Registrati

in t Mr. So

Sun Tong, Hong KonCommerce providing sthe setting-specific impMr. Zhu BAdministratthe registrMainland Cthe TSA, specified ifacilitating for serviceMainland Cservices forconstitutionsubject tonecessary constitutioncorrespondilegislations

Accordthe registramultiple goChina, whlegislations,be registeremechanism for registraimproving matching adifferent rtraining amthe process

CEPA N

the Registry of A

AC delegatiMainland anted by the 20th Januar

losely relate(hereinafter

and Macao Cnt (CEPA). Tng 1st June 2ide level o

f liberalizatihat stipulatetors of servi

ent of busineis also a signed unde

epresent a on of trade in

Mainland Chinion Mechan

the whole oou Tim Peng

Director of ng and Ma

gave speesystematic an-backgroundplementationBing, Directtion, Ministrration mechChina. In accwith the exin the TSAinvestment,

e providers China in libr Macao, th

n and alteratio authoriza

to be regns and aling formalitiof Mainland

ding to Mr. Zation mechanovernmental hich include, clarifying ed, improvi

between thation and in

the registraand sharingegions, enh

mong others. of registrati

News

uditors and Acco

on attendednd Macao’s Macao Eco

ry 2016. Thed to the trreferred to

Closer EconoThe TSA, w

2016, is the fiof Mainland ion of trads a Nationaices of Mac

esses, using a restatemener the framefundamental

n services betna and Macanism to be

of Mainlandg, Director o

the Departmacao Affaireches durinnd in-depth

d, main charn details regator of Forery of Commhanism forcordance witxception of A, with thMainland Chof Macao

eralized seche contracts on of firms, ation, becogistered. Oterations wies accordind China. Zhu, the imnism involv

departmentes refining the level of ng the infohe departme

ndustry and ation systemg of informhance comm Hence, in on be the re

ountants 

d the “BusinCEPA Poli

onomic Servhe topic of rade in servTSA) from

omic Partnerwhich comes

irst to be signChina, in

des, under al Treatmentcao, prior to a ‘negative lnt of prevework of CEl realizationtween the wh

ao. Implement

 d Chinaof DSE and ment of Taiws, Ministry ng the forexplanation

racteristics, arding the Teign Investmmerce presenr investing th Article 14

f two situathe purpose hina has agrwho invest

tors of tradeand statutesinstead of be

oming, mence registe

would undeng to respec

mplementationves the workts in Mainl

correspondf organizationormation-shaents responscommerce,

m to enable mation betwmunication practice, wosponsibility

2        

ness icies vices

this vices

the rship into ned, the the

t, in the list’. ious

EPA, n of hole

ted

Mr. wan,

y of rum, ns to

and TSA. ment nted

in 4 of tions

of reed, t in e in s of eing

erely ered, ergo ctive

n of k of land ding n to

aring sible and the

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ould of a

singAcccircplat

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held“FiConAccHonof foll1.

2.

3.

                           

gle departmcording to cumstances itform regard 

Accounting Reductio 

A number d during tnance and nstruction ancounting Dong, Director Finance, galowing: Situation regMainland Cstatistics: the100,000 pl100,000 regwith CICPaccounting Total incomexceeds RMaccounting recorded inc“big 4”. Taccounting recorded relaCEPA Highaspects: a) residents ofconditions tfirms in Maito whole rerestrictive mvoting rightsbelongs to permanent become parrequired to China. Mr. restriction irights held thus residenvoting rightshabitual addproperty. Reminder. Uaccountants matters are of finance aFinance Coresidents of registration wof Guangdodirectly withMinistry of F

                         

ment of Mr. Zhu, nvolving the

ding regional Domain: E

on of Restrof topical

he forum, Accounting

nd Engineerinmain” topicaof Accountinve an in-de

garding the aChina. Accoere are over lus registergistered (noPA, tallying

practitionersme of the

MB 60,000 mifirms in

come surpasThis indicaprofession iatively good hlight, whicexpansion o

f Macao whto become inland Chinaegion of M

measures redus of accountresidents ofresidents o

rtners of anhave a fixedWang points to have by resident

nts of Macaos; whereas fi

dress, which n

Under the rein Mainlanhandled direat provinciammittee of Macao, the

would be theng. Readers h the DepartFinance. 

                           

multiple dit all depe

e building of government

Expansion rictive Meagroup discuwith topicDomain”

ng”. In the “al discussionng Departme

epth presenta

accounting pording to co

8,300 accoured CPAs, on-practisingg up ove

rs in Mainlaccounting

million, amonMainland

ssing that oates a reasin Mainland

d developmench is reflecof scope forho fulfil copartners of

a from 4 freeMainland Ch

uced to onlyting firms (pf Mainland of Macao n accountind domicile ited out furththe majority

tes of Maino may hold

fixed domicilneeds not be

egime for rend China, coectly by the

al level (soleShenzhen).

e nearest depe Departmenare welcom

rtment of Ac

        April 2016

departments?nds on the

f informationtal affairs. of Scope,

 asuresussions werecs includingand “Legal,

“Finance andn, Mr. Wangent, Ministryation of the

profession inorrespondingunting firms,

exceedingg) memberser 300,000land China. professiong which twoChina has

f the globalsonable thed China hasnt. cted in twor permanentorrespondingf accountinge trade zonesina; and b)

y 2 areas i.e.partnerships)

China, andwishing to

ng firm arein Mainlandher that: they of voting

nland China,up to 49%

le refers to ae an acquired

egistering asorrespondinge departmente exception:

Hence, forpartment fornt of Financeme to inquireccounting of

? e n

e g ,

d g y e

n g , g s 0 .

n o s l e s

o t g g s ) . ) d o e d e g ,

% a d

s g t : r r e e f

 

Committee for t

   

In 2016Certified Examinationto host anMacao. Thfollow: onlMarch and on 15-16 Othis year, pean option, avia electrocandidates btheir answer

15th Oc

16th Oc

    

CRAC and OpportMacao Posand “Latest2016’s seasamalgamatiregions of Mcourses whothe latest u

CICPA E

Trainin

the Registry of A

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ns (a.k.a. Cn exam venhis year’s eline registra29th April;

October (Satuen-and-paperand all cand

onic format both obtain rs via compu

Date

ctober 2016

ctober 2016

hosted two tunities for ed by the St Developmeson of trainion of the ecMainland Cho enable the updates on

EXAMS

ng News

uditors and Acco

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ICPA Examue (professiexam arrangation is opeactual examurday and Sur format wou

didates must (E-format).

question paputers.

(Saturday)

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courses titlthe Accoun

Shanghai Freent of IFRS”ings. Follow

conomy of Mhina, CRAC accounting iinternational

ountants 

ublic of Chnts Unifs) will contiional phase)gements areen between

ms are scheduunday). Staruld no longetake the ex

. By E-formpers and prov

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led “Challennting Sectoree Trade Zo” to open upwing the furMacao and ohopes that thindustry to lel standards

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bjects and tase contact

ofessional resentation

RAC at 8599

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It is the firsShanghai Nthey hosted the Accoun

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d informationhe《Regulatified Public2016 for Rn Region aavailable fro

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nting Sector Trade Zone” nt included: end of markina; 2. Acand manana; 3. Estsures and

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(Serial Num                           

n regarding tion of Peoplc AccountanResidents oand Foreignom the CICr DSF the CRAC srmation regagements. Foon of Asss of Mac

Macao) at 28 office hours

bject

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ost Managem

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nland’s econoorizons. A ttend both co

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” course on 1 1. Currenket for audit

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mber 37) of         April 2016

the exams,le’s Republicnts Uniformof HKSAR,ners》 . TheCPA website

websitesection. Thearding examr enquiries,ociation ofcao (exam835 6856 ors.

ment

nagement

omy, therebytotal of 304urses. 

hina, First le Reforms

n CRAC andtute (SNAI),

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nt state andt services inrelated for

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Committee for t

AdministratAccess in List)(NoticeCouncil Nothe chief paccounting performs thChinese natwishing to trade zone,from beingapplies to Guangdongapply for inTaiwan regzones.

Since itShanghai frreforms, whreforms igovernmentinvestment methods oinnovation domain, refand buildingregimes. Afunctions isthe “power list” were governmentall types ofand the libeaddition, reare also unppaid-in capstatutory cain other wperform exanot requesexaminationinsufficient responsible.statutory exrequirementcheck. Henregistered

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the Registry of A

tive MeasurPilot Fre

e of the Go.23 (2015)) artner in a

firm (or he chief mantionality”. Injoin accoun

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the free g, Tianjin annvestors froions wishing

s establishmree trade zonhich have broinclude spt functions,

domains, pof trade

and liberafining the prog the corresp

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t’s competenf duties of teralization offorms to theprecedented,pital as weapital examinwords, the amination ont registeredn report on

capital, th. The speakxamination its appear in nce, investo

accountant

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uditors and Acco

res for Foree Trade Zeneral Officstates: “A pelimited liabin another

nagement dun other wordnting firms s apply thapartner. Suctrade zones

nd Fujian. Sm Hong Kog to invest i

ment in Septene has underought positivpeeding-up expanding l

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alization ofotection of tponding regum, changes portant operonsibility list

ensure thances has southe governmf the market

e regime of r, for examplell as the nation have registry off

n paid-in capd accountant

capital. Hehe investor ker stressedis no longer

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ountants 

eign InvestmZone (Negace of the Serson servinility partnerr position uties) must hds, for foreign

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ong, Macao in the free tr

ember 2013,rgone numerve results. Th

changes liberalizationthe changes

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ulative and fiof governm

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ment are defint is enhancedegistered cape, the regimrequirementbeen cancel

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aminations apact of govercountants is th

atest DeveloFinancial I

CRAC and atest Developminar presentRS that will 18.

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nture (amend

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pected loss truments and

uditors, regisbeen publish

4/2016). ThisRAC section.

                         

and to issuernment’s refohus apparent

opment of IInstrument

ACCA co-pment of IFRted some of come into e

orted that ms that come

ments, which of interests

to IFRS methods oamendments d in separat

to IAS 27atment for san investor a

dments to IFR

amendmentinto effect in

m Contracts ncial InstrumThe seminaranalysis threclassificati

model of d equity instr

stered accounhed in the Offs list has also.

                           

e relevant rform on the pt. 

IFRS: Newts Effective

-hosted a seRS” on 31st the revision

effect betwee

the contene into effect

h include accin joint

11), clarifof depreci

to IAS 16 ate financial

7), and resale and conand its assoc

RS 10 and IA

ts to two nen 2018, name

with Cusments, willr used casehe classificion, de-reco

financial aruments).

unting firms fficial Gazetto been uploa

        April 2016

reports. Theprofession of

w Standard from 2018

eminar titledMarch. Theitems of the

en 2016 and

nt of mostin 2016 are

counting foroperations

fication ofation and

and IAS 38),l statementsevisions tontribution ofciate or jointAS 28).

ew standardsely IFRS 15:tomers and be major

e studies tocation andgnition, andassets (debt

and te of aded

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d e e d

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Committee for t

  

The finawere publipassed all registered Looking ba 

Year

2015 2014 2013

Round auditors atechnicians 4th and 1Applicationand 112 caround of eregistered a

With th

   

 

 

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the Registry of A

al results foished in Mdesignated auditor, 5

ack at 2015

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I of the licand register

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accountants).

he purpose

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imester of 2anti-money lntelligence O

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