ACCA chief executive Helen Brand recently visited China for the first time since the pandemic. During her two-week trip, which took in Beijing, Shanghai, Shenzhen and Hong Kong Special Administrative Region, she spent time with members and staff as well as meeting numerous stakeholders, including governmental organisations, partner institutions, universities and businesses.
Key themes throughout the visit included the development of the Greater Bay Area (GBA), environmental, social and governance issues, digital finance, training and recruitment. ACCA’s commitment to the Belt and Road Initiative, through providing training, assessment and certification services, was also at the forefront of discussions.
‘The purpose of the visit is to ensure that ACCA continues to make positive contributions to the development of the accounting profession’
Positive contribution
‘The purpose of the visit is to ensure that ACCA continues to make positive contributions to the development of the accounting profession to support the needs of the economy and business,’ Brand said.
The trip began in Hong Kong, where Brand spent time with the ACCA Greater Bay Area Advisory Committee in Hong Kong, which includes ACCA members and stakeholders with expert knowledge in GBA policies and business. As the GBA continues to evolve into a world-class cluster, it plays an increasingly significant role in the overall development of China, and this was a key opportunity to discuss issues critical to the success of the GBA, particularly around ESG and talent.
‘Professional accountants with green finance skills will play a key role in driving the net zero transformation’
The development of green finance was also discussed, highlighting ACCA’s new report, Green finance skills: the guide, which aims to help accounting professionals gain a deeper understanding of green finance policies, and master ESG data collection and assessment methods; and ACCA’s new Certificate in Sustainability for Finance and the Climate Finance course, run jointly with the CFA Institute.
‘Green finance will drive demand for professional accountants with the right skills, requiring accountants to be proficient not only in finance and business, but also on sustainability issues, including environmental policies and regulations,’ Brand said. ‘Professional accountants with green finance skills will play a key role in driving the net zero transformation and transition.’
Better world
Among those who met with Brand during the visit were Paul Chan, financial secretary of the government of Hong Kong and a long-standing supporter of ACCA’s work in the SAR. Discussions centred on ACCA’s global developments, including Accounting for a better world, an agenda for action uniting the accountancy profession for the public good.
Brand also met with representatives of the Hong Kong Institute of Certified Public Accountants (HKICPA) and the Accounting and Financial Reporting Council (AFRC). Discussions with the HKICPA centred on the talent crunch facing the profession, while the meeting with the AFRC considered ways of elevating the attractiveness of accountancy alongside promoting ethics.
‘I hope ACCA can continue to create sustainable value for China’s future’
In Shanghai, Brand met with the leaders of the National Accounting Institute, exchanging insights on the latest trends and challenges in the accounting profession, particularly focusing on the importance of sustainability and the role of accountants in driving positive change.
Recognising the significance of lifelong learning, Brand discussed the potential of ACCA Learning, an online platform developed by ACCA to support the continuous professional development of accountants in China. They explored avenues for partnership, such as providing tailored learning resources and certifications to meet the evolving needs of Chinese accountants.
Sustainable finance
Following her visit to Shanghai, Brand then travelled to Beijing to meet with Shu Huihao, president of the Chinese Institute of Certified Public Accountants (CICPA). Both engaged in in-depth discussions about collaboration opportunities between ACCA and CICPA. One key area of focus was research and reporting on emerging accounting practices, with a specific emphasis on sustainable finance and corporate social responsibility.
Recognising the global reach and influence of both ACCA and CICPA, Brand and Shu Huihao explored the potential for joint initiatives, including research projects, conferences and knowledge-sharing platforms. They acknowledged the importance of leveraging technology and digital platforms to facilitate seamless collaboration and knowledge exchange between the two organisations.
Moreover, they also emphasised the need to nurture and develop future accounting professionals, equipping them with the necessary skills to navigate the evolving business landscape. They discussed the potential for joint efforts in developing innovative educational programmes and training opportunities, which would contribute to the overall growth and excellence of the accounting profession in China.
By the end of her visits to Shanghai and Beijing, Brand said she felt optimistic about the future collaborations between ACCA, the National Accounting Institute and CICPA, adding that the meetings had laid the foundation for a strong and enduring partnership, united by a shared vision of promoting excellence, ethics and sustainability in the accounting profession.
Renewed purpose
She added that she was returning to ACCA in the UK with a renewed sense of purpose and determination to further strengthen ties between ACCA and the accounting community in China, for the benefit of the whole profession.
Brand also visited the Shanghai University of Finance and Economics and met with employers including Sinopec, Ctrip and Jinjiang International, as well as the China International Contractors Association.
‘This visit to China underlines ACCA’s commitment to the Chinese market,’ Brand said. ‘I hope ACCA can continue to make progress, creating sustainable value for China’s future by developing future generations of accounting professionals.’
