ACCA Announces Research Initiative in relation to Belt and Road Project
ACCA (the Association of Chartered Certified Accountants) has recently made an announcement regarding conducting a new research with regards to the impact of China’s Belt & Road initiative.
The research project will be conducted in association with different partners which includes Shanghai Stock Exchange (SSE), Shanghai National Accounting Institute (SNAI), and Deloitte China. The research study will mainly focus on how the Belt & Road initiative will impact the businesses and overall business infrastructure of China and other economies that are part of the Belt & Road project. The research study is expected to last at least two years.
ACCA also launched two of its new reports at the shanghai Conference on July 13, 2017. One of the two newly launched reports is an English-language report named ‘The Belt & Road Initiative: Reshaping the Global Value Chain,’ in association with SSE. The report includes a global perspective and review in relation to the initiative and also features case studies as to how seven different Chinese companies are viewing the project and preparing for their participation/involvement in the Belt and Road project.
The second report is in Mandarin with the title Booting ‘The Belt and Road with Accounting Infrastructure,’ in partnership with Deloitte China and the SNAI. This report focuses on providing information regarding accounting and risk systems, tax and staff member requirements in countries along the proposed trade route.
The chief executive of ACCA, Helen Brand OBE, said that such an ambitious project will only be successful if other economies that are collaborating with china in this project contribute productively with respect to this initiative. She further said that ACCA has operations in 52 countries all across the world and out of these 52 countries 24 are directly linked with trade road proposed as part of the Belt and Road initiative. Considering this it will be very much appropriate to say that the ACCA world will be impacted by the developments regarding the Belt and Road project.
Helen Brand OBE also said that for all the economies that are part of this project and want to make the most out of the opportunities which will be offered by the Belt and Road initiative, they need to start planning in this direction from today and therefore should provide awareness to general public and training to professionals regarding the Belt and Road initiative.
She also said that as ACCA is the first global accountancy body that started its operations in China nearly 30 years ago, ACCA is looking forward in playing part in connecting different communities of professional accountants which together can contribute towards the success of this new Silk Trade Route.