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Then Society president Leslie Gordon (third from left), guest of
honour Financial Secretary Philip Haddon–Cave (centre) and
members at the 1977 annual dinner.
Although ethnically Chinese, Wong felt like an outsider when it
came to understanding the politics of the Mainland. “At that time I
was one of the minions and I didn’t really know what was going on in
China,” he says. “People at the partner level would have known but I
wasn’t part of that.”
Accounting in Hong Kong continued to evolve. The Professional Ac-
countants Ordinance was amended in 1977. “In the light of experi-
ence in the past four years, the Society now considers that certain
amendments are necessar y in the interest of the general public and
the accountancy profession,” Haddon-Cave told LegCo.
The first amendment required holders of practising certificates,
necessary for conducting statutory audits, to be ordinarily resident in
Hong Kong and to have some knowledge of local law and practice.
The second amendment provided for the registration of firms
of accountants on condition that all Hong Kong partners hold valid
The third amendment required members of the Institute of Cost
and Management Accountants and the Chartered Institute of Public
Finance and Accountancy to pass examinations set by the Society be-
fore they could apply for practising certificates.
Minor amendments to other bills affecting the profession fol-
lowed that year. The Urban Council (Amendment) Bill 1978 clarified
voting rights for accountants, while the Companies (Amendment)
Bill 1978 removed the limit of 20 persons on partnerships.
Also in 1978, Macwhinnie, though only 55 years old, was ready to
retire from Peat’s and concentrate on his interests outside the account-
ing profession. He had been an enthusiastic member of the Royal Hong
Kong Jockey Club since the 1950s and had been elected a steward in
1974. In addition, Fok quit as registrar at the end of 1979.
The baton would be passed as the Society entered the 1980s, but
such departures did not slow the profession’s momentum. Indeed, it
would go from strength to strength in the new decade.
The first amendment
required holders of
necessary for conducting
statutory audits, to be
ordinarily resident in Hong
Kong and to have some
knowledge of local law
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