最新資訊

COVID-19 – Valuation and Market Update (30 June)

The first half of 2020 has been full of unexpected events.  COVID-19 has already infected more than 13 million people worldwide, and social distance measures have brought global economic activities to a halt. Other events, such as the oil price crash and the new wave of secondary listing in Hong Kong, further made the market to be extremely volatile.

Given the fluid nature of the pandemic, different stakeholders and practitioners in the business world are facing unprecedented challenges. Various regulators and industry organisations, including SFC, HKEX and IFRS Foundation hence published an amount of new guidance and technical notes, aiming to expand the regulatory focus amid economic uncertainties and market volatilities.

Cybersecurity preparedness in time of COVID-19

The unprecedented COVID-19 crisis has posed a huge change in many aspects, for instance, remote working has become a trend to reduce the spread of virus. This has provided insights for company’s management and board on cybersecurity preparedness. Regardless of company size, IT expenditure is unavoidable in order to maintain operations during the crisis. The related cybersecurity investment due to regulatory and compliance measures have since increased.  Most companies are caught off guard by the coronavirus. On one hand company’s computing resources are limited to support remote working, at the same time employees in general have not subscribed adequate firewall protection and antivirus packages to work remotely on their personal computers. With remote working becoming the new norm for companies worldwide amid the COVID-19 crisis, cybersecurity is even more crucial than before to support thousands of workers working from home accessing their companies’ networks.

新冠病毒危機中的桌面評估

自今年一月末起,新型冠狀病毒疫情的爆發已佔據全球各大媒體的頭條。大部分香港及中國大陸地區的商業機構暫時關閉門面店鋪,或建議員工在家辦公。由於大部分在香港上市的大陸企業都受到了疫情的嚴重影響,香港證監會及香港聯交所於今年1月30日,發佈聯合申明1要求所有於香港上市的公司都需要告知聯交所其業務受疫情影響的情況及程度。絕大部分主營業務於大陸的上市公司的年度財務報告日期都是每年12月31日,而每年1月到3月都是上市公司準備和撰寫財務年報的繁忙時期。然而,目前針對中港兩地來往的旅行限制更對經常需要實地勘察及進行管理層訪問的外部審計人員及評估師的工作造成了極大的困難及挑戰。
 

Moore Hong Kong Special Work arrangement under threat of Novel Coronavirus

We are here to inform you that even though our office will be tentatively closed until 9 February 2020, to align with our Government’s recommendation, our strong and united teams are here to continue to deliver the same exceptional service and quality work to our clients. We will constantly review the situation and adopt the best arrangement to benefit our clients and of course, our staff.  Health and safety of the community remains our top priority.  

私募股權及風險投資估值準則

針對着特定的估值目的及用途,不盡相同的估值準則應運而生。當中《國際私募股權及風險投資估值指引》(以下簡稱為”IPEV”) 及《國際估值準則》(以下簡稱為”IVS”) 分別為私募股權投資和財務報告中最被廣泛採用的兩項國際估值準則。

ANDY ARMANINO TO SUCCEED RICHARD MOORE AS MOORE GLOBAL CHAIRMAN

After 15 years as Chairman of the leading international accountancy and consulting network, Moore Stephens International, now Moore Global, Richard Moore today announced his decision to step down at the end of 2019. 

Andy Armanino will succeed Richard as Chairman of Moore Global from 1 January 2020. Andy is currently a member of Moore Global’s board and until 1 January 2019 was CEO and Managing Partner of Armanino LLP.

外部盡職調查顧問於併購活動中所扮演的重要角色

於2019年7月4日, 香港證券及期貨事務監測委員會(下稱「證監會」)發佈了《有關董事在考慮企業收購或出售項目時的操守及責任的聲明》。當中,證監會重申獨立專業估值諮詢對上市公司董事在計劃收購或出售事項中的法定責任,及受信責任的重要性。此外, 證監會亦特別指出了進行併購活動時盡職調查的重要性。然而,我們關注不少估值機構並不具備相關的會計、稅務等專業知識和資源以進行盡職調查工作及提供相關意見。

Building cyber resilience among insurers

With technology advancement, there are more and more digital insurers. Though digitalisation helps insurers increase efficiency and enhances customers experience, cyber threats must be anticipated.  
 
The cyber insurance market is still far from mature. What should the regulators do? What role can insurance play in addressing cyber risks?

How cyber security breaches impact personal data protection in particular in relation to the European Union General Data Protection Regulation (GDPR) on Hong Kong businesses

The news of cyber security breaches come waves after waves. Cathay Pacific leaks information consist of passengers’ names, nationalities, dates of birth, travel document numbers and historical travel details. The hacking of Marriott’s Starwood reservation system exposes data of up to 500 million guests. Just over a week ago, Hong Kong credit reporting agency TransUnion was forced to suspend its online services over unauthorised access of personal credit information.
 
Hong Kong business has largely ignored the EU General Data Protection Regulation (GDPR) that replaced the preceding data protection laws in all European Union (EU) countries on 25 May 2018. The potential impact of GDPR on Hong Kong business with ineffective cyber security measures could be severe.
 

保險公司對社會的貢獻也非常重要

諮詢服務董事總經理 Patrick Rozario與 Management & Excellence (M&E) 的總裁 Dr. William Cox在 Insurance Asia News發表了一篇標題為《Insurers’ Social Contributions Are Important Too (保險公司對社會的貢獻也非常重要)》的文章。
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