BDO’s Business Services and Outsourcing Highlights provides you with legislation updates, news and latest developments associated with our BSO servicing areas including Payroll & HR, Accounting & Treasury, Corporate Secretarial, and Digital Transformation.
A. Payroll & HR
1. The Legislative Council passed the bill abolishing the Mandatory Provident Fund (MPF) offsetting mechanism on 9 June 2022.
2. The Employment (Amendment) Bill 2022 was passed by the Legislative Council on 15 June 2022 following which employees who are absence from work for compliance with a requirement with restriction on movement imposed under the Prevention and Control of Disease Ordinance (Cap 599A) or Protection and Control of Disease (Compulsory Testing for Certain Persons) (Cap 599J) will be protected.
3. The amendment of the maximum amount of ex-gratia payment that by an employee can claim under the provisions of Protection of Wages on Insolvency Ordinance was passed on 16 June 2022
B. Accounting & Treasury
1. BDO recognised as a Hong Kong Platinum Partner of the cloud accounting software, Xero, after having been awarded a Xero Global Partner status in 2021.
C. Corporate Secretarial
1. To enhance the protection of privacy in relation to sensitive personal data of company directors, a new inspection regime has been, or is to be, implemented under the Hong Kong Companies Ordinance (Cap. 622) in three phases from 2021 to 2023. While Phase 1 of the new inspection regime commenced on 23 August 2021, Phase 2 and 3 will be implemented on 24 October 2022 and 27 December 2023 respectively… Read more on BDO website
D. Digital Transformation
1. We are aspired to combine our knowledge in technology and business to provide cloud base solutions and advice that simplify work. The web-page on our Digital Transformation Services has recently been revamped to showcase the wealth of SaaS applications we implement for clients.
2. Remote working flexibility is a double edged sword to productivity especially during time of turbulences. Things can certainly go sideways, but with the right change management strategy, resilience can be built and company could become stronger than ever.
In a series of 2 webinars (26 Apr & 28 Jun) in the topic of “Building Resilience: The key to business survival & sustainability”, our experts in Digital Transformation Services and Professional Resources Solutions teams shared their experience on inducing positive changes for companies, abided by the PPT principle (People, Process and Technology) of effective change management, and understand exactly how they managed to turn things around with the least disruption to existing operations.