The accounting profession offers a structured path and recognised qualifications for those who seek a stable and defined career. Spencer Ma Wai-pong, chairman of the SME group of CPA Australia (Hong Kong China division), has been in the field for 22 years. (CPA Australia is a leader in finance, accounting and business advice.) As someone who has worked his way up from accountant trainee to running his own consulting practice, Mr Ma has a wealth of insights to share. What prompted you to become an accountant? I was influenced by my uncle who was financial controller at Cathay Pacific. When I was young, I would see him studying for his professional exams. He once told me: 'Every business needs an accountant; it is a broad market for you to go after.' I believe this is very true. When the economy is on the upward trend, corporations need accountants. When corporations are downsizing or even dissolving, the accountant is always the last one to leave [to close the books]. I studied accounting at Melbourne University, in Australia. Besides my bachelor degree, I pursued a chartered qualification as company secretary. Later, I did an MBA to equip myself with all-round management skills. How did you come to be a management consultant? I joined the Arthur Andersen tax department as a trainee, where I got my CPA qualification. Afterwards, I worked with local and United States corporations as finance manager, and eventually became manager, corporate planning and financial control, for Miramar Hotel & Investment. Seventeen years of corporate experience have given me broad exposure. In certain jobs where I assumed a regional role, I got to study and understand local laws and regulations and diverse corporate cultures and working styles. However, things can change quickly in multinationals, where top expatriate bosses come and go. It was at that time that I thought I should use my skills and knowledge to offer advisory services to corporations. The corporations I work with are usually local or mainland enterprises preparing to transform into world-class firms. They need our expertise, from strategic planning, financial system and control, logistics and marketing to pre-IPO. At the outset we are the accountants, but we become more like business partners to them. Employers expect us to look after their financial health, and not just do the bookkeeping. Besides technical knowledge, a professional accountant must maintain a high ethical standard to ensure corporate governance is in place. What is your advice to graduates or young professionals? The path is to get the examinations done. If you cannot join one of the Big Four, you should start your career in commerce and industry. The growth limit is set by yourself. You have to pick a specialisation to differentiate yourself, say in financial advisory, tax or auditing. Build up your specialised technical knowledge while acquiring multiple skills to be an all-rounder. A non-stop learning attitude is also essential. Keep abreast of contemporary issues. Have a good grasp of all modern issues. Besides possessing the common attributes of diligence, integrity and business acumen, you should aim to work faster, extra and better than the rest. Do more than what people expect of you so you stand out in the crowd. In the end, you must have a passion to excel. Some people say that accountants are boring. I think I am quite a fun person to work with. So are my friends and colleagues. We might be risk-averse or a bit conservative. I think this is only a stereotype of certain traits of accountants.
