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.