The role of the accountant is changing. As global conditions remain uncertain, accountants have plenty of opportunities to emerge as leaders within their corporations.
'Accountants can be the advocates of sound business practices. If they rise to the challenge, they will be able to deliver value for high-performance organisations,' says Rosanna Choi Yi-tak, chairman of the Association of Chartered Certified Accountants, Hong Kong.
According to Choi, the global financial crisis has highlighted an urgent need for good corporate governance, adherence to regulations and stringent risk management. If these had all been rigorously implemented in the first place, the financial crisis may have been avoided.
'Organisations now need strong leadership and financial discipline. And accountants are being called to take up these leadership roles,' she says. 'They are stepping into leadership positions in large multinationals, acting as advisers in government and sitting on the boards of listed companies. Some have even become successful entrepreneurs.'
Traditionally looked upon as little more than bookkeepers and auditors, professional accountants have become highly valued.
'Now that we are talking about recovery and survival, good business practices are very important. Companies need people who know what to look out for,' Choi says. 'This has been especially true in the case of the mainland, where the financial crisis has pressured companies to change and reform. This requires the expertise of accountants.'
The demand for accountants with international exposure is very high on the mainland.
