Two of the world’s largest professional accountancy bodies, the Chinese Institute of Certified Public Accountants (CICPA) and ACCA (the Association of Chartered Certified Accountants), have signed an agreement which will see them work closely together to develop the profession.
CICPA and ACCA, which between them represent more than 300,000 finance professionals around the world, signed a Memorandum of Understanding (MoU) at the World Congress of Accountants in Kuala Lumpur on the 10 November.
The MoU was signed by ACCA Chief Executive Helen Brand and CICPA Secretary General Dr Chen Yugui, and witnessed by Chinese Vice Finance Minister Dr. Wang Jun, ACCA President Mr. Mark Gold, IFAC Deputy President Mr. Goran Tidstrom, IFAC CEO Mr. Ian Ball, leaders of Chinese local institutes of CPA and some international friends.
The MoU will result in CICPA and ACCA working together on training for chief accountants and leading accounting talent in China and internationally; the regulation of members and the sharing of professional resources.
The bodies will also work together to develop training programmes, and share information on continuing professional education or development initiatives.
ACCA and CICPA will also work together on ‘train the trainer’ programmes, which support university lecturers of CPA specialisation. They have agreed to work on joint research and share information about examinations.
ACCA Chief Executive Helen Brand, said: “We are delighted to be signing this agreement with CICPA, an organisation which we greatly respect and with which we have enjoyed a long relationship. We share much in common and look forward to working with CICPA on a range of initiatives which will strengthen the profession and enhance the opportunities for members of both bodies.”
CICPA Secretary General Dr Chen Yugui, said: “CICPA has been attaching great importance to international exchanges and cooperation, through establishing communication and cooperative relationships with, including ACCA, more than 50 accountancy professional bodies in over 30 countries and jurisdictions. ACCA (accaglobal.com) has kept friendly cooperative relationship with CICPA through all these years. Traced back to November 8th 1994, the two institutes have signed a framework MOU, and successfully conducted various communications on the cultivation of professional talents, train the trainers, as well as practice quality review, etc. The MOU signed today is of great significance in terms of further strengthening the mutual cooperation, promoting the capability of providing services to our respective members, as well as accelerating the exchanges of accountancy profession between the UK and China.”