XN000022-1982-11-19 — Page 3

FRIDAY, NOVEMBER 19, 1982

THE BOARD IS CONSIDERING THE RECOMMENDATIONS OF THE TECHNO- ECONOMIC STUDY ON THE METAL AND LIGHT ENGINEERING INDUSTRIES COMPLETED BY THE HONG KONG PRODUCTIVITY CENTRE (HKPC), AND WILL EXAMINE THE NEED FOR PROVISION OF ADDITIONAL AND IMPROVED FACILITIES AND SERVICES,+ MR TSAO SAID.

+THE VARIOUS PROJECT PROPOSALS RECEIVED FROM THE HKPC, UNIVERSITIES AND POLYTECHNIC WHICH ARE CURRENTLY UNDER VARIOUS STAGES OF CONSIDERATION AND IMPLEMENTATION ARE TESTIMONIALS OF THE RECOGNITION OF THE BOARD'S ROLE BY RELEVANT SECTORS OF THE COMMUNITY. WE EXPECT MORE PROJECTS TO COME TO FRUITION IN OUR NEXT YEAR'S WORK, MR TSAO REMARKED.

THE INDUSTRIAL DEVELOPMENT BOARD WAS ESTABLISHED IN AUGUST 1980, FOLLOWING A RECOMMENDATION BY THE ADVISORY COMMITTEE ON DIVERSIFICATION. THE BOARD, RESPONSIBLE FOR PLANNING, MONITORING AND GIVING ADVICE ON VARIOUS PROGRAMMES IN THE FIELD OF INDUSTRIAL DEVELOPMENT, IS CHAIRED BY THE FINANCIAL SECRETARY.

MEMBERS INCLUDE PROMINENT PERSONALITIES IN INDUSTRY, THE ACADEMIC FIELD, AND SENIOR GOVERNMENT OFFICIALS, IT IS SERVICED BY THE INDUSTRY DEPARTMENT.

GOVERNMENT TO INTRODUCE NEW FINANCIAL INFORMATION SYSTEM

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THE GOVERNMENT WILL START TO INTRODUCE EARLY NEXT YEAR A NEW FINANCIAL INFORMATION SYSTEM OFFERING ON-LINE FACILITIES FOR BUDGET CONTROL AND MUCH NEEDED MANAGEMENT INFORMATION, THE FINANCIAL SECRETARY, MR JOHN BREMRIDGE, SAID THIS (FRIDAY) EVENING.

SPEAKING AT THE ANNUAL DINNER OF THE HONG KONG SOCIETY OF ACCOUNTANTS, MR BREMRIDGE SAID THE SYSTEM WOULD BE GEARED TO INFORMATION NEEDS AT ALL MANAGEMENT LEVELS AND WOULD DRAW TOGETHER DATA FROM A WIDE RANGE OF SOURCES INTO A FULLY INTEGRATED DATABASE.

THOUGH

THE SYSTEM WOULD GIVE SPEEDY ACCESS NOT ONLY TO ROUTINE ESSENTIAL, ACCOUNTING DATA BUT ALSO TO INFORMATION OF INTEREST TO THOSE RESPONSIBLE FOR MANAGEMENT DECISIONS, HE SAID.

+IN SHORT, THE SYSTEM WILL BE ORIENTED TOWARDS ACHIEVING EFFECTIVE CONTROL TOGETHER WITH PROVIDING DATA IN THE RIGHT FORM FOR ASSESSING BOTH PERFORMANCE AND PRIORITIES, HE EXPLAINED.

HE SAID ALSO THAT THERE WAS AN INCREASING NEED FOR PRIVATE- SECTOR ACCOUNTANTS TO EXERCISE INFLUENCE IN MANAGEMENT DECISIONS, PARTICULARLY IN HONG KONG WHERE MARKET CONDITIONS BECAME TOUGHER EACH YEAR AND CONTINUED PROSPERITY DEPENDED MUCH ON IMPROVEMENTS TO OVERALL COST EFFECTIVENESS.

NEVERTHELESS, HE ADDED, AN ACCOUNTANT SHOULD NOT FORGET HE STILL HAD A MAJOR ROLE TO PLAY IN ENSURING THAT THE OVERALL FINANCIAL INTEGRITY OF HIS COMPANY OR ORGANISATION WAS MAINTAINED.

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