Page 96 - HKCAAVQ AR 2018-19

ৌਕజڌڝൗ
Notes to the Financial Statements
For the year ended 31 March 2019

Financial Report ৌਕజѓ ࿚Їɚཧɓɘϋɧ˜ɧɤɓ˚˟ϋܓ

Notes to the Financial Statements
ৌਕజڌڝൗ

For the year ended 31 March 2019 ࿚Їɚཧɓɘϋɧ˜ɧɤɓ˚˟ϋܓ
1. Status of the Council 1. ࠰ಥኪஔʿᔖุ༟ዝ
൙ᄲ҅ٙߠ౻

Hong Kong Council for Accreditation of Academic and ࠰ಥኪஔʿᔖุ༟ዝ൙ᄲ҅€˜͉
Vocational Qualifications (the “Council”) is a body corporate ҅™݊ܲ๫࠰ಥኪஔʿᔖุ༟
established under the Hong Kong Council for Accreditation ዝ൙ᄲ҅ૢԷ‘€ୋ1150௝ɨϓ
of Academic and Vocational Qualifications Ordinance (Cap. ͭٙجɛྠ᜗fߐኪஔʿᔖุ༟
1150). Under the Accreditation of Academic and Vocational ዝ൙ᄲૢԷ‘€ୋ592௝ɨd͉҅
Qualifications Ordinance (Cap. 592) (the “Ordinance”) the ஗ܸ֛މ༟ዝݖ࿴ɨج֛ٙ൙ᄲ
Council assumes its statutory role as the Accreditation ຅҅ʿ༟ዝΤ̅຅҅fЪމ൙ᄲ຅
Authority and Qualification Registry (“QR”) Authority under the ҅d͉҅ఱኪஔʿᔖุ༟ዝ൙ᄲ
Qualifications Framework (“QF”). As the Accreditation Authority, ૢԷ‘೯࢝ʿྼ݄ኪஔאᔖุ༟
the Council is responsible for developing and implementing ዝ൙ᄲٙᅺ๟ʿዚՓd˸Ъމ༟
the standards and mechanisms for accreditation of academic ዝݖ࿴ٙਿᓾʿආБ൙ᄲϽࣨf
and vocational qualifications to underpin the QF and for Ϥ̮d͉҅͵ࠋபఱ࠰ಥڢ͉ήኪ
organising the accreditation exercises for the purposes as ஔʿਖ਼ุሙ೻ٙൗ̅d࠰ಥڢ͉
specified in the Ordinance. The Council also provides advice ή༟ዝٙ൙П˸ʿ዆᜗઺ԃ˥๟
to the Government of the Hong Kong Special Administrative ձ༟ዝdΣ࠰ಥतйБ݁ਜִ݁
Region (the “HKSAR Government”) on the registration of non- €˜ִ݁™౤ԶจԈf͉҅˴ࢩe
local academic and professional courses, the assessment on ਓ˴ࢩeהϞϓࡰձᐼ฀ԫѩ݁͟
non-local qualifications and also on educational standards and ִБ݁ڗ֜։΂f̤̮d͉҅הՓ
qualifications generally. The Chairman, Vice Chairman, all other ࠈٙ൙ᄲϗ൬eৌ݁ཫၑձՉ˼ᐄ
Members and Executive Director of the Council are appointed ༶݁ഄѩ඲ִ݁ࣨ͟ࡘfΪϤd͉
by the Chief Executive of the HKSAR Government. Also, the ҅Ⴉމ͉̙҅஗ൖމ᙮׵ִ݁޴
determination of accreditation fees, the financial budget and ᗫྼ᜗f
other operating policies of the Council are approved by the
HKSAR Government. Therefore the Council considers itself to
be a government-related entity.

The registered office address is 10 Siu Sai Wan Road, Chai ͉҅ʘൗ̅፬ԫஈήѧމ࠰ಥࣵ
Wan, Hong Kong. ᝄʃГᝄ༸10໮f

The financial statements are presented in Hong Kong dollars ͉ৌਕజڌ˸ಥ࿆€˜ಥ࿆™я
(“HK$”), which is the same as the functional currency of the ΐdϾಥ࿆͵މ͉҅ʘ̌ঐ஬࿆f
Council.

96 Hong Kong Council for Accreditation of Academic and Vocational Qualifications
࠰ಥኪஔʿᔖุ༟ዝ൙ᄲ҅