In focus
As she takes on the role of ACCA Hong Kong chairman, Alice Yip FCCA talks about her plans for her tenure and the challenges that face professional accountants in the future
This article was first published in the October 2016 China edition of Accounting and Business magazine.
I started my career as a professional accountant 21 years ago, when I joined KPMG right after graduation from the University of Hong Kong. Since then, the accountancy profession has become more challenging.
Increased regulation, stronger governance and the spread of digital technology have had an impact on finance professionals. The continued globalisation of business will require members of the profession to anticipate and accommodate emerging differences in business practices, geographies, roles, responsibilities and regulations, and to develop the necessary technical knowledge, skills and ethics.
Given these drivers of change, the roles and responsibilities of professional accountants already extend far beyond the traditional financial reporting, compliance and governance remit. In a recently published research report, Professional accountants – the future, which identifies the seven key qualities for success, ACCA has identified the technical and interpersonal skills and competencies that professional accountants will need to develop in order to remain resilient and competitive. ACCA is dedicated to providing relevant and structured professional development support to its members to enable them to have the optimal combination of technical knowledge, skills and abilities, and the interpersonal behaviours, skills and qualities that they will require in their respective position.
In Hong Kong, ACCA members come from different sectors, and our member base constitutes a well-rounded talent pool. If our members can share their experience and insights, they will learn from each other and grow stronger together. ACCA organises various workshops, conferences and professional networking events where members are able to build their professional networks; I strongly encourage readers to make good use of them.
As an auditor, I have been involved in a number of crossborder engagements, which provide me with opportunities to collaborate with network firms overseas and work with clients from many different cultures – from developed countries like the US and UK, to emerging markets such as Cambodia, Myanmar and Kazakhstan. Throughout my career journey, I have been thankful that the ACCA Qualification has not only provided me with a strong technical foundation but has also enabled me to connect with the wider business community, where I can meet with seasoned professional accountants from different sectors and countries and learn from their experience and insights.
During my year-long tenure as chairman of ACCA Hong Kong, I want to ensure that the connections between ACCA and the wider community remain strong and relevant. I also want to highlight the commitment our members make to support those in need.
Our annual ACCA Community Day has long provided an opportunity for members to contribute to society and, in 2017, we celebrate the 20th anniversary of what has become a key event in the ACCA Hong Kong calendar. Look out for more on the Community Day in the next issue.
Like many of you, I juggle my work with a busy home life. As well as having a full-time job as an audit partner, I am a mother of two children, a keen gym-goer and a volunteer. To accomplish all of these things, a ‘can-do’ attitude is key: be committed, have one schedule for everything and stick to it.
I also try to integrate different parts of my life. For example, my clients all know that I am involved with ACCA, so I invite them to participate as speakers for our events in order to share knowledge and also help them gain exposure. It is really all about planning, integration and prioritisation!
Alice Yip FCCA is an audit partner at KPMG China’s Hong Kong office. She was appointed ACCA Hong Kong chairman in September 2016