Hong Kong accounting industry grows as ESG, Greater Bay Area opportunities draw young professionals: HKICPA president
- HKICPA, the industry body representing the city’s 47,000 qualified accountants, has grown by 10 per cent since 2018, new president says
- ESG reporting and the Greater Bay Area offer opportunities for young accountants, and the IPO market is set to recover, says Roy Leung
Hong Kong’s accountancy industry has attracted more young professionals in recent years despite a downturn in new share listings, according to the new head of an industry body.
The Hong Kong Institute of Certified Public Accountants (HKICPA), which represents the city’s 47,000 qualified accountants, has seen its membership rise by 10 per cent since 2018.
This is despite a drought of initial public offerings (IPOs) in recent years, because young people are attracted by opportunities in environmental, social, and governance (ESG) reporting, corporate governance consulting and the Greater Bay Area, according to newly appointed HKICPA president Roy Leung Sze-kit.
“Many people think accountants are only doing audits for IPOs or the financial statements for existing listed companies,” Leung said on Tuesday in his first media briefing since being elected in December. “In fact, many of them are offering reporting and consulting services in taxation, ESG reporting and corporate governance.”
Leung, who joined the industry in 1999 and is now a partner with KPMG, said the industry has grown over his career, with the institute’s membership almost tripling from about 16,000 in 1999.
“The figures show the continuous growth of Hong Kong’s accounting profession, even with the economic and market ups and downs during the period,” he said.
