ACCA Focuses On Building Connectivity Among BRI Countries With Accounting Infrastructure


The first workshop of the China-Central Asia Accounting Elites Exchange Programme officially kicked off at the Shanghai National Accounting Institute.

The program, proposed mutually by the Shanghai National Accounting Institute (SNAI), the Central Asia Regional Economic Cooperation Institute (CI) and the Association of Chartered Certified Accountants (ACCA), was declared as one of the significant results of the subsequent Belt and Road Forum for International Cooperation held in Beijing in April this year.

The program comprises of four workshops in a two-year cycle, focusing on authorities from divisions in the bookkeeping field in China and Central Asia, just as experts from organizations, industry affiliations, bookkeeping firms, and other bookkeeping hypothesis and practice circles. It will sort out symposia, instructional meetings and field visits with top to bottom talks on points, for example, the improvement of bookkeeping guidelines, ability development, guideline, the advancement of bookkeeping administration industry, new innovation and the advancement of the bookkeeping segment.

Almost 30 specialists from the bookkeeping guidelines setting offices, bookkeeping controllers, and bookkeeping calling of every one of the 11 CAREC nations including China, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan, Turkmenistan, and Georgia went to the primary workshop.

Li Kouqing, President of SNAI, IskandarAbdullaev, Deputy Director of CI and Ada Leung, Director of ACCA Greater China went to the opening service and conveyed talks.

Talking about the program and ACCA’s persistent job in advancing open doors around the Belt and Road Initiative, Sajjeed Aslam, head of ACCA Pakistan stated,

“China-Pakistan Economic Corridor (CPEC) is an extraordinary monetary open door for Pakistan. The bookkeeping experts have an obligation to advance the ‘Belt and Road’ availability to help governments and organizations to accomplish more exchange with other BRI nations. With solid nearness in the area, ACCA will keep on assuming a main job.”

In his discourse, Li Kouqing said that reinforcing the development of ‘bookkeeping foundation’ is imperative for improving monetary advancement. A sound bookkeeping framework can advance a nation’s development and strength. In particular, the bookkeeping foundation comprises of three components, to be specific bookkeeping standard framework, bookkeeping administrative structure and bookkeeping ability framework. Bookkeeping standard framework sets the criteria for bookkeeping strategy and fund report, intending to improve the unification, factuality and likeness. Bookkeeping administrative system is comprised of a few powers, for example, government and society to regulate and deal with the bookkeeping work, meaning to ensure the factuality and fulfillment and bookkeeping data. Bookkeeping ability framework gives the establishment and key to create, improve and execute the measures and direct the bookkeeping work.

At present, there are contrasts in bookkeeping models and bookkeeping experts of the Belt and Road nations including Central Asian nations. Li Kouqing stated: ‘The bookkeeping measures resemble the railroads of the world. Some are with wide tracks, some are with tight tracks, and others are with standard tracks. At the point when products move starting with one nation then onto the next nation, you have to empty them and afterward load them once more. Since the tracks are unique and the guidelines are extraordinary, the expense of the exchange will be extraordinarily expanded.’ Promoting the availability of bookkeeping foundation ought to be a due piece of the ‘Belt and Road’ participation and a unshirkable obligation for the bookkeeping calling.

Concentrate on Central Asia to improve its bookkeeping foundation

This July, Shanghai National Accounting Institute, holding hands with ZTE New Cloud Service Co., Ltd. also, ACCA, and under the protection of the establishment’s ‘Belt and Road’ Accounting Research Center, directed research on bookkeeping foundation in Central Asia to help the execution of the program. Studies have indicated that a few nations’ bookkeeping framework can’t stay aware of their monetary improvement. What’s more, because of contrasts in national conditions, the improvement of bookkeeping foundation changes significantly from nation to nation, and the network between them is poor. This has influenced financial advancement and exchange. As Central Asian nations have gotten all the more profoundly associated with the ‘Belt and Road’ activity, neighborhood economies have gotten increasingly coordinated into territorial and worldwide monetary improvement. To more readily coordinate with the universal network and draw in remote speculation, numerous nations in Central Asia are taking measures to reinforce the bookkeeping foundation.

Hold hands to construct an information trade stage for bookkeeping framework

The execution of the China-Central Asia Accounting Elites Exchange Program is an accomplishment of joint endeavors.

IskandarAbdullaev, Deputy Director of CI, a local worldwide research organization for information participation, said that since its foundation, CAREC has advanced exchange and transportation in Central Asia, and improved the venture condition in Central Asia. Numerous endeavors have been made to give financing to some local ventures, gaining generous ground and significant commitments to the advancement of Central Asia.

CAREC program is focused on advancing network and accomplishing shared thriving. As a typical universal business language and a significant ‘delicate framework’, bookkeeping can fill in as an extension for monetary trades between nations. The China-Central Asia Accounting Elites Exchange Program will advance the sharing of information and involvement with the development of bookkeeping framework among China and the nations of Central Asia, and will likewise advance the organized improvement of and collaboration among CAREC part nations.

As a worldwide expert bookkeeping body, ACCA additionally assumes a key job as a super connector all around, directing significant work on readiness and research for the program through its global system and mastery.

Ada Leung, Director, ACCA Greater China, said that ACCA is one of the pioneers in investigating the effect of the ‘Belt and Road’ Initiative on China, the worldwide economy and the advancement of the bookkeeping calling.

ACCA is respected to together lead the program with its accomplices, and will keep on completing a progression of concentrates with accomplices, for example, the Shanghai National Accounting Institute and further talk about the chances and difficulties for the bookkeeping calling, organizations and governments brought by the ‘Belt and Road’ Initiative, supporting the usage of the China-Central Asia Accounting Elites Exchange Program.

The five-day workshop will lead inside and out and ceaseless trades and dialogs on issues, for example, the development of bookkeeping foundation, the improvement and coordination of bookkeeping gauges through talks, experience sharing by different nations, field visits to ventures, and online correspondence. The workshop will likewise build up a stage for trade between worldwide bookkeeping gifts in China and bookkeeping elites in Central Asia.

The program will likewise hold workshops in China and Central Asian nations in 2020 and 2021.

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