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An analysis of current trends in accounting professional development in People's Republic of China

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  • P.W. Senarath Yapa
  • Zhen Ping Hao

Abstract

Purpose - With the introduction of open door policy in 1978 and recent entrance to the World Trade Organisation (WTO), there seems to be a continuous growth of world business between China and the rest of the world. The purpose of this article is to make a comparison between Chinese professionalisation of accounting with other Western countries focusing on three professional themes: profession and the state, entry qualification to the profession and the relationship between higher education and the profession. Design/methodology/approach - This study uses a qualitative method and it is based on using unstructured interviews with Chinese Institute of Certified Public Accountants (CICPA) (Beijing office), CPA Australia (Beijing Representative Office) and National Accounting Institute (NAI) (Beijing office) – all conducted in March 2005. Further information about the current accounting development in China is collected through secondary sources. Findings - The results show that current accounting professionalisation project in China has been derailed mainly due to lack of coordination among accounting educational institutions. It seems that the CICPA purposely exert control over the supply of accountants by limiting the membership only to those who complete its own examinations mainly to maintain the “local status” of its members. Originality/value - The professional accounting project should be closely linked with China's entrance to the WTO and the World Bank initiatives on accounting development. The results indicate that the accounting profession in China has so far been failed to take appropriate measures to align the professional accounting development with that of parallel professions as found in Western countries.

Suggested Citation

  • P.W. Senarath Yapa & Zhen Ping Hao, 2007. "An analysis of current trends in accounting professional development in People's Republic of China," Asian Review of Accounting, Emerald Group Publishing Limited, vol. 15(1), pages 25-44, January.
    • Handle: RePEc:eme:arapps:v:15:y:2007:i:1:p:25-44
    DOI: 10.1108/13217340710763735
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    References listed on IDEAS

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    3. Lin, Kenny Z. & Chan, K. Hung, 2000. "Auditing Standards in China--A Comparative Analysis with Relevant International Standards and Guidelines," The International Journal of Accounting, Elsevier, vol. 35(4), pages 559-577, 010.
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    Cited by:

    1. Zhang, Guohua & Boyce, Gordon & Ahmed, Kamran, 2014. "Institutional changes in university accounting education in post-revolutionary China: From political orientation to internationalization," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 25(8), pages 819-843.
    2. Dong, Nanyan & Bai, Meng & Zhang, He & Zhang, Junrui, 2019. "Approaches to learning IFRS by Chinese accounting students," Journal of Accounting Education, Elsevier, vol. 48(C), pages 1-11.

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