Professional accounting bodies in Hong Kong are stepping up development offerings to ensure accountants are better equipped to work in fast-evolving economies, such as the mainland.
'We have a growing number of members based in China,' says Keith Pogson, president of the Hong Kong Institute of Certified Public Accountants (HKICPA). 'Focusing on the mainland has become an essential part of our operations.'
While accountants in Hong Kong are well-placed to work on the mainland due to their understanding of international financial reporting standards and exposure to Hong Kong, their skill set often needs to be topped up with further technical knowledge specific to the mainland.
The HKICPA runs programmes on accounting, auditing, tax and capital markets, to help members stay abreast of the latest developments on the mainland.
Meanwhile, the Association of Chartered Certified Accountants (ACCA) works with learning providers on the mainland to identify the most pertinent training areas for its members. These include providing timely updates on tax and international financial reporting standards; risk management; understanding changes in the global economy, and how these impact on business; carbon accounting; and environmental sustainability reporting.
The HKICPA's mainland business interest group provides a forum and network in which members doing business there can share experiences and network.