Despite the financial maelstrom, the demand for quality accountants in developing markets is on the rise.
While developed financial markets around the world are struggling to simply find a foothold to decelerate and try to halt the treacherous, eroding ground beneath them, several emerging markets, such as China, India, Thailand and Vietnam, are continuing their upward mobilisation towards maturity and stability.
As such, the demand in these regions for well-equipped, experienced accountants is increasing dramatically.
Geoff Rankin, chief executive of CPA Australia, one of the world's largest accounting bodies, said: 'Most emerging markets rely heavily on direct foreign investment and today their needs are more complex than ever before. They require confidence in the quality aspects of an advanced accounting system, knowledge of the worldwide adoption of new standards and regulations, and professionals who understand corporate governance and ethics and how to apply these effectively to support business strategies and opportunities. In short, they need accountants with quality technical abilities infused with comprehensive international flavour.'
From the investor's perspective, trust and assurance in the environment they are investing in is vital, which translates into knowing they are dealing with and investing in organisations that have a strong, progressive and transparent accounting system in place that will spur the development of the business infrastructure of new markets. Naturally, the necessity for well-developed accountants to manage these systems is absolute.
Investors also want to be assured that the business models of the companies they are dealing with are not only relevant to today's environment and issues, but are equipped to deal with any complications and developments that will certainly arise as well. The sharing of information is the key to establishing higher confidence, as is the way in which the scope of information to sophisticated and non-sophisticated investors alike is communicated.
