In the 1970s, professional accounting was the versatile career choice for many young people when Hong Kong began to embark on the world economic arena. Since then many accounting talents have joined the accounting profession. What are the career opportunities and prospects for professional accountants? What knowledge and skills are necessary to become a Certified Public Accountant (CPA)?
Ms Mabel Chan (Mabel) is a CPA (Practicing) and has over 20 years’ experience in professional accounting in Hong Kong. She considers that professional accountants can engage in different scopes of practice other than financial and management accounting, auditing, taxation as many multi-national firms or local enterprises in Hong Kong and the Mainland would recruit professional accountants to handle financial and investment works. Young professional accountants could advance their professional knowledge and enrich their experience if they have chances to engage in mergers and acquisitions, corporate restructuring and financial management works in different countries.
Mabel encourages accounting graduates to acquire professional qualifications such as CPA, by taking the qualification programme (QP) of Hong Kong Institute of Certified Public Accountants (HKICPA). She says, “Students are required to attend 2 full-day workshops for each of the 4 modules and pass the examinations of all the four modules before undertaking the final professional examination (two 3-hour papers). Furthermore, at least 3 years of working experience in auditing or accounting is required before one could apply for CPA member of the HKICPA. Completion of workshops is a prerequisite, where they could strengthen their business skills to demonstrate the development of their intended learning.” Mabel adds that “technical skills” are not good enough for achieving career success while “soft skills” such as communication skills, presentation skills etc. are essential. Good social skills can help young professionals not only to perform better in social gatherings, but also in every situation in life, may it be at work, within the family and in the social circle.
Mabel is creative and adventurous. Having gained substantial experience in accounting firms, she decided to take up new challenges and set up her own company. At the beginning, she had some hard times in running her business. She overcome her problems by seeking advice and help from senior CPAs. She realized that a great rapport with other CPAs or business associates has helped her career tremendously.
Mabel is currently the Vice President of HKICPA. In addition, she is also members of various committees, panels and bureau of the HKSAR government. Serving public administrative work enables Mabel to contribute her knowledge to professional bodies and help young accounting professionals further advance their career.
In addition to the qualification of HKICPA, Mabel advises young accounting professionals to pay attention to the market trend so as to prepare themselves for future development. In addition, acquiring knowledge on law, business management and information technology could also help. Mabel encourages young accounting professionals to pursue their studies such as postgraduate programmes on finance or MBA courses, while gaining some working experience could help them to make the right choice.
For future development, Mabel would focus herself in exploring the markets in the Mainland, South East Asia and Europe. She is also keen to give opportunities to young accounting professionals who are willing to take up new challenges so as to broaden their horizons and prepare themselves for embarking on the international arena.
Mabel says, “Life is too short. We should not waste our time on trivial matters and we should live in the best way we can.” She considers that work-life balance is very important. No matter how busy she is, she will spend time with her family and friends. With good prioritizing skills, she would recognize what things need to be handled first and what things can be delegated to her team members. Mabel says, “It is amazing how your subordinates respond when trust is given to them. Better results can be achieved and team members have more capacity to grow.” Other than works, Mabel loves running, playing golf and sailing. She took part in this year marathon and finished 10km run. Mabel will find time to practice running despite of her hectic schedule.
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