Awards 2005: ACCA achievement of the year - Amy Yung

Amy Yung has won the ACCA Achievement Award in recognition of her years of
tireless service to both her community and the accounting profession.

Alongside running a busy consultancy in Hong Kong, Yung devotes much of her
time to serving the interest of ACCA students and members in the territory. She
is currently a council member of the Hong Kong Institute of Certified Public
Accounts and acts as an accountant ambassador at the institute. She devotes
considerable time to ACCA as a member of its executive committee.

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On a personal basis she has, for the past five years, represented the
interests of Hong Kong residents through her work on the Island District
Council, where she uncovered a controversial issue involving planning
developments on Discovery Bay, the part of Lantau Island that she represents.

Yung wrote to Hong Kong’s ombudsman to raise concerns. Undeterred when it
found there was no maladministration, Amy then pursued the matter with the
region’s director of audit, whose office issued a critical report on the matter
that forced the Hong Kong government to look at the issues surrounding the
development.

Yung has consistently fought for, and raised awareness of the rights of small
owners in Discovery Bay and Hong Kong through her ongoing correspondence with
the Legislative Council Panel on Home Affairs.

Chairing an owners’ committee, she discovered that a property management
company had charged substantial and inappropriate expenses, which she succeeded
in having reimbursed to owners.

From Yung’s experience in the committee, she has been able to act in an
advisory capacity to the Legislative Council Panel on Home Affairs, which has
been reviewing Hong Kong’s Building Management Ordinance. In 2005, a draft bill
was issued that furthers the rights of owners and allows them to establish
owners’ committees as legal entities.

Yung has also raised concerns over community issues affecting residents of
Discovery Bay. She has protested against the development of a casino and F3
racetrack on Lantau Island and has thwarted attempts to build a large
residential development in a conservation area in Discovery Bay. She recently
raised concerns over the use of toxic chemicals in the nightly firework displays
at Hong Kong Disneyland on Lantau.

Apart from her council work, Yung has also devoted considerable time to
charity work, including a children’s home, and has worked to enable women to
play a greater role in business.

In her community work role, she has actively supported environmental issues,
and is a representative on the consultative committee of the Central Pier
Reclamation project.

Yung, who has qualifications in company secretaryship and administration,
computing studies and management for executive development, previously worked
for KPMG.

She set up and headed the internal audit departments for listed companies,
the Hong Kong Building and Loan Agency and the Shui On Group, and was
Asia­Pacific Regional financial manager/controller for Reuters and Dow
Jones/Telerate. She has been a partner in her company, Amy Yung & Co since
1994.