Cross-straits, Hong Kong and Macau Accounting Profession Conference 2024: Embrace the new mission: Leading to a sustainable future
The "Cross-straits, Hong Kong and Macau Accounting Profession Conference 2024" hosted by the Hong Kong Institute of Certified Public Accountants (HKICPA), was successfully held today at the JW Marriott Hotel Hong Kong. With the theme "New Mission of Accounting Profession – Leading a Sustainable Future", the Conference brought prominent business representatives and accounting leaders and elites together from the Cross-strait, Hong Kong and Macau. All guest speakers engaged in in-depth discussions and ideas exchanges on recent hot topics in the areas of global economy and accounting profession, including sustainability, opportunities and challenges for small and medium-sized practising firms (SMPs), innovation economy, and image of the accounting profession. The Conference attracted nearly 400 participants, making it a remarkable event of the accounting sector.
Since 2006, the Mainland, Taiwan, Hong Kong and Macau have been jointly organizing annual accounting industry conferences to facilitate exchanges and co-operations among counterparts in the region. The Conference was suspended for several years due to the pandemic and has resumed this year and hosted by the HKICPA, marking the first major accounting industry exchange event across the region in recent years. The Conference was officiated by Michael Wong, the Deputy Financial Secretary of the HKSAR Government, who delivered the opening speech, along with leaders from the accounting profession of the Cross-strait, Hong Kong and Macau, including Jiang Yong, Secretary-General of the Chinese Institute of Certified Public Accountants (CICPA), Lee, Meng-Shiou, Vice Chairman of the Taipei CPA Association, Iong Weng Ian, President of the Union of Association of Professional Accountants of Macau, and Roy Leung, President of the HKICPA, to host the opening ceremony, marking the commencement of this significant event of the accounting industry.
In his speech, the Deputy Financial Secretary Michael Wong stated: “Thanks for the HKICPA’s efforts in sustainability development. I believe that the requirements on sustainability disclosure will bring tremendous opportunities to the accounting sector. I am confident that the accounting profession can leverage its professional advantages to make remarkable contribution to the profession, as well as the Cross-strait, Hong Kong and Macau."
In his welcome speech, HKICPA President Roy Leung stated that the theme of the Conference, "Leading a Sustainable Future," represents the new mission of the accounting profession. "The Conference focuses on the important role of accounting in the sustainable development and global economy, encouraging the industry to stay abreast of trends, leverage the profession’s strengths, and contribute to building a sustainable future. The HKICPA, as the sustainability reporting standard setters, has demonstrated a strong commitment to promoting sustainable development in Hong Kong through setting reporting standards, assurance and ethical standards, as well as stakeholder capacity building."
Accountants across Cross-strait, Hong Kong and Macau to collaborate and foster development of sustainability disclosure
The keynote speech titled "Co-creating a Sustainable Future", delivered by Hua Jingdong, Vice-Chair of the International Sustainability Standards Board (ISSB), kicked off the engaging discussions at the Conference with his sharing on “Building a sustainable future together”. Jiang Yong, Secretary-General of the CICPA, together with Agnes Chan, Chairman of the Hong Kong General Chamber of Commerce, Yang Yung-Cheng, Chairman of the Taiwan Provincial CPA Association, and Denis Vong Hou Piu, Director of the Union of Association of Professional Accountants of Macau, shared their insights focusing on the “Businesses’ responses and opportunities under global economic and sustainability development trends", providing valuable insights and inspiration on how to address challenges and seize opportunities amid global economic changes and sustainability trends.
Following the keynote speech, the first panel discussion was themed " New Mission of Accounting Profession – Leading a Sustainable Future ". The session was moderated by Paul Lau, Deputy Chairman of the Listing Committee of the Hong Kong Exchanges and Clearing Limited, and featured Athena Ng, General Manager of the Corporate Finance & Corporate Communications Departments of China Overseas Land & Investment Limited, Tang Jianhua, Deputy Secretary General of the CICPA, Roger Tseng, Executive Director of the Sustainability Development Committee of the Taipei CPA Association, and Chan Wai, Vice Chairman of the Macau Society of Certified Public Accountants. Panelists discussed the latest developments in the area of sustainability disclosure and their profound impacts, as well as the role of the accounting profession in participating and promoting this new mission.
Sustainability brings profound impacts to all industries. The changes in relevant regulations and professional standards, along with the emphasis on operational models that balance economic growth and social welfare, undoubtedly pose challenges for SMPs. Chaired by Robert Wang, Chairman of the International and Cross-Strait Services Committee of the Taipei CPA Association, the second panel discussion was focusing on the challenges and opportunities faced by SMPs under the trends and requirements of sustainable development. Michael Li, Council Member of the HKICPA, Chen Bin, Partner at Sichuan WeiCheng Certified Public Accountants Co., Ltd, Tsai Pei Chuan, Deputy Director of the International and Cross-Strait Affairs Committee of the Taichung CPA Association, and Chou Chi Keong, Council Member of the Union of Associations of Professional Accountants of Macau, analyzed the strengths and weaknesses of SMPs, explored ways for formulating appropriate strategies to succeed on the path to sustainable development through innovation, collaboration, and continuous self-enhancement of their own capacities.
Attract new accounting talents for the innovation sectors
The evolving and maturing development of innovative technologies are transforming the operation mode of the accounting industry. The third panel discussion was moderated by Zhang Su, Partner at Suzhou Allpro certified public accountants Co., Ltd, with the presence of Aldous Mak, Chief Financial Officer of Hong Kong Science and Technology Parks Corporation, Tan Lian, Senior Partner and General Manager of Data Sharing Headquarters at Pan-China Certified Public Accountants, Huang LingWen, Deputy Director of the International and Cross-Strait Affairs Committee of the Kaohsiung CPA Association, and Leong Wai Lap, Director of the Union of Associations of Professional Accountants of Macau. The panel discussions focused on the latest trends in technological development and the available opportunities to the accounting industry created by the innovation-driven economy. Panelists also discussed how accountants can effectively leverage technologies to better serve businesses and society amidst the blooming development of artificial intelligence and innovative economy.
In the fourth panel discussion titled "Reshaping industry image and attracting accounting talents," brought insights on how the accounting industry in the Cross-strait, Hong Kong and Macau can create more jobs and opportunities to facilitate talent mobility and cross-regional collaboration under the increasingly complex business landscape. Moderator Lai Hong Choi, Council Member of the Union of Associations of Professional Accountants of Macau, together with panelists including Huang Fan, Executive Director at Russell Reynolds Associates, Mu Huishu, Vice President and Secretary General of the Guangdong Institute of Certified Public Accountants, Peter Tseng, Chair of the International and Cross-Strait Services Committee of the Taiwan Provincial CPA Association, and Ieong Lai Kun, Council Member of the Union of Associations of Professional Accountants of Macau, discussed on how to reshape the image of the accounting industry and build confidence among the industry for nurturing a corporate culture that can attract and retain talents.
The "Cross-straits, Hong Kong and Macau Accounting Profession Conference 2024" was successfully concluded. The Conference brings insights of the latest global business trends to the audience and fosters exchanges and co-operations among accounting practitioners from the Cross-strait, Hong Kong and Macau. Speakers also provided valuable insights into the future direction of the accounting industry development to the participants. For details of the Conference, please visit website (Chinese only):
Photo 1 and 2: Michael Wong, the Deputy Financial Secretary of the HKSAR Government (Middle), Jiang Yong, Secretary-General of the Chinese Institute of Certified Public Accountants (Left two), Lee Meng-Shiou, Vice Chairman of the Taipei CPA Association (Right one), Iong Weng Ian, President of the Union of Association of Professional Accountants of Macau (Left one), and Roy Leung, President of the Hong Kong Institute of Certified Public Accountants (HKICPA) (Right two), officiated the opening ceremony, marking the commencement of the “Cross-straits, Hong Kong and Macau Accounting Profession Conference 2024".
Photo 3: The “Cross-straits, Hong Kong and Macau Accounting Profession Conference 2024” features keynote speeches and four panel discussions, covering areas such as sustainability development, role of small and medium-sized practising firms (SMPs), impact of technological development and talent attraction. Leaders and elites from the accounting sectors of the Cross-strait, Hong Kong and Macau shared valuable insights with the audience.
Photo 4: “Cross-straits, Hong Kong and Macau Accounting Profession Conference 2024” brought prominent business representatives and accounting leaders and elites together from the Cross-strait, Hong Kong and Macau to engage in in-depth discussions and ideas exchanges on recent hot topics. The Conference attracted nearly 400 participants, making it a remarkable event of the accounting sector.
