ACCA members describe what it is like to be a professional accountant in today’s modern, dynamic China, and discuss the challenges facing them in the future
This article was first published in the June 2018 China edition of Accounting and Business magazine.
Wu Jijun FCCA, principal staff, Jiangsu bureau, China Securities Regulatory Commission
China is taking more responsibility and having more influence in the international community as it carries out the Belt and Road initiative.
Professional accountants who are well versed in Chinese practices and international accounting guidelines are expected to play a key role in helping businesses go global and bring in overseas partners.
ACCA membership offers professional training, flexible thinking, comprehensive skills and knowledge, and a global perspective. ACCA has introduced me to the world of finance and supported my growth. It has also enabled me to develop capability in business and investment based on my expertise in finance and auditing.
Zhao Gang FCCA, general manager assistant, Huaneng Guicheng Trust Corp
Professional accountants in China today are welcoming two unprecedented opportunities: the Belt and Road initiative and the rise of artificial intelligence (AI). Both require a change in approach.
The former requires professional accountants to develop a global mindset and actively integrate their career development into the third wave of globalisation.
The latter poses a challenge: how should we clarify the boundary between human and machine? If AI interconnects everything and everyone, will we truly achieve prosperity while maintaining morality? As a professional accountant, I like to pay attention to things that influence the profession I work in.
Zhang Jianyong FCCA, vice president, Beijing Automotive Group
Professional accountants aim to boost the efficiency and transparency of organisations and promote the transformation and upgrade of the Chinese economy.
China used to approach globalisation in a more-or-less passive way, importing advanced equipment as well as management philosophy. Now we are going outbound, advocating Chinese brands and our own technology.
ACCA tests a vast range of accounting knowledge as well as one’s ability to solve problems and better understand the issues in negotiations with international peers. Membership helps us keep abreast of the latest developments through continued sharing between members.
Katherine Wu FCCA, vice president, finance, North Asia, Unilever China
The Chinese market is full of opportunities, accompanied also by more complex and volatile challenges. Professional accountants play a crucial role in the sound development of the business and risk management of a company.
They are expected to fully leverage their expertise in process management and information analysis, and play a leading role in new fields such as process automation and big data. Today, knowledge updates at an ever-rapid pace, which requires financial personnel to keep learning and bring about changes. ACCA’s established and professional training can help the company’s financial team to improve their professional skills.