ACCA focuses on building connectivity among BRI countries

611

Staff Reporter

Karachi

The first workshop of the China-Central Asia Accounting Elites Exchange Programme officially kicked off at the Shanghai National Accounting Institute. The programme, proposed jointly by the Shanghai National Accounting Institute (SNAI), the Central Asia Regional Economic Cooperation Institute (CI) and the Association of Chartered Certified Accountants (ACCA), was announced as one of the important outcomes of the second Belt and Road Forum for International Cooperation held in Beijing in April this year.
The programme consists of four workshops in 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 organise 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 accounting service industry, new technology and the development of the accounting sector.
Nearly 30 experts from the accounting standards setting departments, accounting regulators, and accountancy profession of all 11 CAREC countries including China, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan, Turkmenistan, and Georgia attended the first workshop. Li Kouqing, President of SNAI, Iskandar Abdullaev, Deputy Director of CI and Ada Leung, Director of ACCA Greater China attended the opening ceremony and delivered speeches. Speaking about the programme and ACCA’s continuous role in promoting opportunities around the Belt and Road Initiative, Sajjeed Aslam, head of ACCA Pakistan said, “China-Pakistan Economic Corridor (CPEC) is a great economic opportunity for Pakistan.
The accounting professionals have a duty to promote the ‘Belt and Road’ connectivity to assist governments and businesses to do more trade with other BRI countries. With strong presence in the region, ACCA will continue to play a leading role.”In his speech, Li Kouqing said that strengthening the construction of ‘accounting infrastructure’ is vital for improving economic development. A sound accounting infrastructure can promote a country’s growth and stability.
Specifically, the accounting infrastructure consists of three factors, namely accounting standard system, accounting regulatory framework and accounting talent system. Accounting standard system sets the criteria for accounting method and finance report, aiming to improve the unification, factuality and comparability.