ENG-2000 — Page 137

FINANCIAL AND MONETARY AFFAIRS

insolvency practitioners in the private sector. Under the scheme, these insolvency practitioners' remuneration would be subsidised by government funds up to a prescribed limit.

During the year, the court made 4 606 bankruptcy orders, one interim order regarding individual voluntary arrangements and 910 winding-up orders. The assets realised by the Official Receiver during 2000 amounted to $141.69 million, while $249.05 million in dividends was paid to creditors in 775 insolvency cases. There were 129 cases assigned under the scheme for contracting out summary winding-up cases.

Professional Accountancy

Hong Kong had 17 666 registered professional accountants at the end of 2000. Of these, 2 879 were certified public accountants (CPAs) or public accountants, who are in public practice and entitled to perform statutory audits. There were 1006 CPA firms and 73 corporate practices in the SAR at the end of the year.

The Hong Kong Society of Accountants is a self-regulatory body established under the Professional Accountants Ordinance with a wide range of responsibilities for registering professional accountants, maintaining accounting, auditing and ethical standards for the profession and conducting training programmes and examinations to qualify professional accountants.

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