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International programme ensures numbers add up

Ana Wang

The demand for accounting professionals has surged in recent years, thanks to the attraction of working in accounting firms and a wide range of other businesses.

'Almost 70 per cent of accountants in Hong Kong work in the commercial sector like internal audit, risk management and corporate governance,' says Brenda Lam, head of learning and development at the Association of Chartered Certified Accountants (ACCA) Hong Kong.

'Accounting data is necessary for all kinds of decisions made in a firm. Therefore, it is very important for accountants to receive professional recognition.'

The ACCA qualification is aimed at helping individuals further their career as accountants in organisations throughout the world. The qualification is recognised in more than 170 countries and is based on international accounting standards with adjustments made to local rules and laws in each country.

'Our programme is recognised internationally. Therefore, those who wish to practise locally and overseas should apply,' Lam says.

Individuals taking the ACCA examination may simultaneously gain a bachelor of science (honours) degree in applied accounting from Oxford Brookes University in England, while working their way through the accounting qualification examination.

'Our unique partnership with Oxford Brookes University provides those who missed out on the university experience, or did not complete their studies in an accounting or finance-related programme, a chance to gain a recognised accounting degree, as well as qualify as accounting professionals,' Lam says.

The ACCA examination is aimed at equipping individuals with the necessary knowledge and qualification to contribute to the industry and profession.

'We adjust the contents of the examination according to market trends and demand, so students will possess the most updated knowledge,' Lam says.

Since accounting and finance firms increasingly value ethics and professional conduct in their employees, the Professional Ethics Module was added to the ACCA syllabus in 2007.

The examination consists of 14 papers in total, including nine fundamentals papers and five professional papers.

Accounting students may be exempted from a maximum of nine papers in the fundamentals level, which makes it quicker for them to obtain the professional qualification.

'Our examination is internationally recognised and provides students with flexible studying options,' Lam says.

The examination is offered twice a year and students are allowed to take a maximum of four papers each time. 'It may take only a year for accounting graduates and other students who are exempted from the first nine papers to obtain their professional qualification.'

In addition to the examination, individuals are required to complete three years' relevant practical experience to achieve 13 performance objectives listed by ACCA.

The association provides education and examination support in various ways that includes referring students who need extra help to recognised institutions, providing online resources including past papers and answers, and organising students into study companion groups.

ACCA launched a conditional exemption programme for accounting students who display strong motivation and determination to excel in the profession so that they may take a fast-tracked route and begin their ACCA studies during their final academic year in universities and institutions.

Further to education support and the ACCA examination, the association provides career support to ACCA members.

New members may join its mentor plan where experienced professionals provide invaluable advice and support through sharing their experience and guiding them to prepare themselves for the future.

In addition, ACCA works with recruitment agencies and regularly performs accounting-specific surveys to assist individuals with ACCA qualification in their career development.

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