The Hong Kong International Academy Against Corruption (HKIAAC), established by the ICAC, today (March 13) entered into a Memorandum of Understanding (MoU) with the Hong Kong Institute of Certified Public Accountants (HKICPA), marking a collaboration between two parties to promote integrity and professionalism, and to jointly enhance the ethical standards, professional competence and integrity awareness of the accounting industry.

Speaking at the MoU signing ceremony, ICAC Commissioner Mr Woo Ying-ming noted that as an international financial centre, Hong Kong must uphold the cornerstone of integrity, while the accounting industry plays a pivotal role in safeguarding market integrity and strengthening corporate governance. “This MoU symbolises the integration of the ICAC’s practical experience and the HKICPA’s professional influence while joining hands to cultivate accounting talents with integrity and professional capabilities. This will help enhancing the overall integrity level of the industry, strengthening practitioners’ abilities to identify and prevent corruption risks in daily work, and jointly reinforcing the solid foundation of Hong Kong as an international financial centre,” said Mr Woo.

Mr Woo also noted that the ICAC has been overcoming challenges and providing solid support for the development blueprint and strategic direction of the Country and Hong Kong during the National 15th Five-Year Plan period by striving to maintain Hong Kong’s integrity, prosperity and stability through its three-pronged strategy comprising law enforcement, prevention and education. He firmly believed that the MoU will bring positive impacts to anti-corruption efforts, helping Hong Kong to maintain its leading position in clean governance.

“Ethics and integrity are the fundamental cornerstones of the accounting profession. In an evolving business landscape, the accounting profession plays a pivotal role in upholding the corporate governance and financial integrity. Our longstanding partnership with the ICAC is built on this shared commitment. This MoU is a proactive step to further reinforce our world-class ethical standards. By deepening our co-operation, we will empower our members with the specialised expertise to navigate emerging challenges, thereby strengthening public confidence in Hong Kong’s financial stability and reinforcing its status as a leading international financial centre,” noted HKICPA President Mr Stephen Law Cheuk-kin.

Witnessed by Mr Woo and Mr Law, the MoU was signed today by ICAC Deputy Commissioner cum Head of Operations Mr Ricky Yau Shu-chun and Acting Chief Executive & Registrar of the HKICPA Ms Elaine Chung. Within the framework of the MoU, the ICAC and the HKICPA will further deepen their collaboration, including fostering personnel exchange and visits, as well as enhancing integrity training. The HKIAAC will also collaborate with the HKICPA to develop self-study course for its members, jointly strengthening a culture of integrity within the accounting industry.

The ICAC and the HKICPA have been working side-by-side over the years, serving as crucial partners in enhancing industry ethics and integrity training. In November 2024, the HKIAAC co-hosted “Professional Anti-Corruption Training for Certified Public Accountants” with the HKICPA for 25 certified public accountants, who included chief financial officers, financial controllers from listed companies and various enterprises, to learn about the latest anti-corruption and prevention measures in the industry. Last July, the ICAC’s Forensic Accounting Group also organised a webinar for the members of HKICPA members, sharing the professional anti-graft experience of ICAC frontline officers in areas such as collecting accounting evidence and asset recovery.