Elites accounting exchange program kicks off

By Zhang Liying
0 Comment(s)Print E-mail China.org.cn, December 22, 2019
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The first workshop of the China-Central Asia Accounting Elites Exchange Program officially kicked off at the Shanghai National Accounting Institute (SNAI) on Dec. 16.

The first workshop of the China-Central Asia Accounting Elites Exchange Program kicks off in Shanghai on Dec. 16, 2019. [Photo courtesy of the ACCA]

The program was announced as one of the important outcomes of the second Belt and Road Forum for International Cooperation held in Beijing this April. It was jointly proposed by the SNAI, the Central Asia Regional Economic Cooperation Institute (CI) and the Association of Chartered Certified Accountants (ACCA).

The program consists of four workshops spread over a two-year cycle, targeting officials from departments in the accounting field in China and Central Asia, as well as professionals from companies, industry associations, accountancy firms and other accounting theory and practice circles.

It will organize symposia, training sessions and field visits with in-depth discussions on topics such as the development of accounting standards, talent cultivation, regulation, the development of the accounting service industry, new technology and the development of the accounting sector.

Nearly 30 experts from the accounting standards setting departments, accounting regulators, and the accountancy profession from all 11 countries in the Central Asia Regional Economic Cooperation (CAREC) participated in the first workshop.

Promoting Belt and Road connectivity, a duty for the accountancy profession

Li Kouqing, president of the SNAI, said at the opening ceremony that strengthening the construction of accounting infrastructure is vital for improving economic development as a sound accounting infrastructure can promote a country's growth and stability. 

Li Kouqing, president of the Shanghai National Accounting Institute, speaks at the opening of the first workshop of the China-Central Asia Accounting Elites Exchange Program in Shanghai on Dec. 16, 2019. [Photo courtesy of the ACCA]

According to Li, the accounting infrastructure consists of three factors, namely the accounting standard system, accounting regulatory framework and accounting talent system.

At present, there are differences in the accounting standards and accounting professionals of the Belt and Road countries, including the Central Asian countries.

An ACCA press release said that promoting the connectivity of accounting infrastructure should be a due part of the Belt and Road cooperation, and is also a duty for those in the accountancy profession.

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