HKSI Institute AR2023

Chairman and Chief Executive The Chairman of the Board is elected by the Board Directors at a Board meeting held prior to the Annual General Meeting (AGM), and the appointment takes effect from the conclusion of such AGM. At the Board meeting held on 20 September 2022, Mr Colin Shaftesley was re- elected as the Chairman for a one-year term effective from its 25th AGM on 15 December 2022. The Chairman leads the Board in setting the overall strategy, directions and policies of the HKSI Institute and takes the role as an ex-officio member in all committees. Miss Ruth Kung, Chief Executive of the HKSI Institute is also an ex-officio member of all committees of the HKSI Institute. The Chief Executive is responsible for leading the HKSI Institute in its day-to-day management as well as to develop and execute strategies approved by the Board. Committees There are eight standing committees under the Board. They are delegated with certain powers to facilitate effective oversight of defined functions, and to provide counsel on the HKSI Institute’s programmes and operations. In addition, the committees play an important ambassadorial role in promoting the HKSI Institute, as well as its initiatives and service offerings. Ad-hoc committee may be established by the Board for specific projects. The ad-hoc committee active during the reporting period is the 25th Anniversary Celebration Committee. The Secretariat The Secretariat, led by the Chief Executive, is responsible for the day-to-day operations of the HKSI Institute. There are nine business units within the Secretariat – Corporate Affairs, Corporate Communications, Curriculum and Examinations, Education and Development, Innovation and Technology, Market Development, Membership, Shenzhen Office and WAM Pilot Programme. Risk Management and Internal Control The HKSI Institute upholds high standards of integrity and accountability in its role as a provider of professional examinations, education and membership. Sound and effective risk management, including reputational, information security, financial and operational risk, and internal control measures are put in place to ensure a smooth and secured operation. Compliance The HKSI Institute is firmly committed to the regulatory compliance of accounting, tax and other required local legal requirements. External Auditor KPMG has been appointed as the honorary auditor of the HKSI Institute since its establishment in 1997, providing invaluable independent assessment of the Institute’s financial position and controls. 13 HKSI Institute Annual Report 2023