Q:How important is professional qualification in the accounting industry?

A:The upswing of the economy provides an ever bright prospect for accounting and finance professionals. A professional qualification now becomes a basic criterion for employers when looking for "multi-talented and well-rounded" accountants.

If you want to stay competitive in today's dynamic business world, you have to update your skills in line with the changing market needs. As you may notice, the role of the accounting professional is neither a number cruncher nor a bookkeeper. Modern accountants should possess a truly global thinking, cross cultural attitude, and the ability to see the whole picture beyond their physical borders. As a result, go for a globally recognised qualification is at your doorstep towards the accounting profession.

Q:What are the basic traits for Hong Kong accountants to develop their career in the Mainland?

A:Since China's accession to the WTO, the demand for professional accountants, particularly with internationally recognized qualification, has risen significantly due to the convergence towards the international standard. It is estimated that the Mainland needs at least 350,000 accounting professionals to meet the market demand. However, at present, there are only 80,000 qualified accountants in practice, and less than 15% of them are holding internationally recognised qualification.

This trend has brought ample opportunities for Hong Kong accountants to develop their career in the Mainland. To differentiate yourselves, accountants should be well-equipped with knowledge of China law and regulations, financial reporting requirements and taxation. Always keep yourselves attuned to current affairs in the Mainland. To stay competitive, it is essential to acquire knowledge in all aspects including economic development, political structure, cultural differences, accounting and finance expertise as well as communication skills in English and Putonghua.

Brenda Lam, ACCA Student Promotion Manager