CPA Australia and HICPA sign Memorandum of Cooperation

HAIKOU, CHINA - Media OutReach - 26 October 2021 - CPA Australia, one of the world's largest professional accounting bodies, and the Hainan Institute of Certified Public Accountants (HICPA) have today announced the signing of a Memorandum of Cooperation (Memorandum).

The Memorandum is designed to facilitate closer collaboration between CPA Australia and HICPA. Together, the bodies aim to enhance the standard of international accounting professionals, broaden opportunities for members from both bodies, and commit to the future development of the Hainan Free Trade Port.

He Yongmei, Secretary General of HICPA and Deborah Leung FCPA (Aust.), Executive General Manager International of CPA Australia, signed the Memorandum at a virtual signing ceremony in October. Over 600 representatives from the Hainan Ministry of Finance, the financial and accounting industry and the business community across Greater China attended the virtual ceremony.

William Huang FCPA (Aust.), President of CPA Australia's South China Committee, said the signing of the Memorandum was a great milestone in the relationship between the two bodies.

"Today marks the first anniversary of the announcement of the Hainan Free Trade Port Institutional Integration and Innovation Action Plan 2020 – 2022. We are very proud to strengthen our relationship with HICPA on such a remarkable day, which we hope will contribute to the Action Plan by nurturing high-level talent in Hainan.

"Accounting and financial professionals play a critical role in enhancing the trade and investment relationship between Hainan and the world and establishing Hainan into a globally influential and high-level free trade port.

"As a leading global accounting body with deep commitments in Mainland China, CPA Australia has worked closely with HICPA in promoting professional standards in the region for many years. We believe this Memorandum will strengthen our relationship and enable us to continue working together to advance the knowledge, professional networks, skills and competitiveness of accounting and finance professionals.

"Together with HICPA, we look forward to creating more continued professional development resources and career development opportunities for our members, while elevating professional standards and positively contributing to the sustainable development of the Hainan Free Port," Huang said.

CPA Australia has also collaborated with the Chinese Institute of Certified Public Accountants (CICPA) since the early 1990s. Through the International Partnership Program, CPA Australia offered members from CICPA the opportunity to study the CPA Program and obtain the CPA Australia designation from 2007 to 2010. In 2020, the CPA Australia designation was added to the "Accreditation Criteria for Hainan Free Trade Port High-level Talent" released by the Hainan Government.

About CPA Australia

CPA Australia is one of the largest professional accounting bodies in the world, with more than 168,000 members in over 100 countries and regions, including more than 20,000 members in Greater China. We have offices in Beijing, Shanghai and Guangzhou. Our core services include education, training, technical support and advocacy. CPA Australia provides thought leadership on local, national and international issues affecting the accounting profession and public interest. We engage with governments, regulators and industries to advocate policies that stimulate sustainable economic growth and have positive business and public outcomes. Find out more at cpaaustralia.com.au

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