China member firms' have sights set on National Status
A significant step has been taken towards the creation of a national group in China for DFK International to strengthen the global accountancy association’s expansion in the country.
Representatives from DFK International’s member firms in China recently attended a meeting in Beijing to discuss the formation of what could become the 10th national group for the association.
The country’s seven member firms have formed an umbrella organisation to enable them to work more closely together as they strive towards becoming formally recognised as a national group.
Andrew Ma, founder of member firm AMA CPA and director of Mayee Management in Hong Kong, said: “We believe that forming a group of our member firms in China will help us to achieve our goals by creating a sense of belonging and enabling us to work together as one.
“China has been identified as an increasingly important area for DFK International and the association wants the country’s member firms to become stronger and more active.
“This is an important development in terms of us coming together to share our experiences, our knowledge and work together.”
As a top 10 global association of independent accounting firms and business advisers, with over 300 offices in more than 80 countries, DFK International recognises that it is vital to be well-represented in China which has a huge market for international business.
In the last year, DFK International welcomed new member firms in Chongqing and Xi’an to add to its presence in Beijing, Shanghai, Guangzhou and Hong Kong.
“We believe that forming a group of our member firms in China will help us to achieve our goals by creating a sense of belonging and enabling us to work together as one".
Andrew Ma, founder of member firm AMA CPA / director of Mayee Management
Martin Sharp, executive director of DFK International, said: “It is clear to us that the accounting profession in China is in a state of rapid development and there are great opportunities in the country.
“We are aware that the Chinese government is keen to create domestic audit firms with sufficient scale to audit the country's huge state-owned enterprises and rapid growth businesses. As Chinese clients increasingly expand their operations and investments abroad, DFK is well-placed to provide the support they need in the major trading centres of the world.
“DFK member firms are genuine independent entities and the local firms retain complete control over their own affairs, so our operating model is very well-suited to combining the benefits of local ownership with global connectivity without the overheads of a large network.
“Having our member firms in China work together to share knowledge and experiences can only strengthen the individual firms. This is why the development of a national group in China is so important to DFK and we welcome this meeting as another step on the road towards its formation.”
The member firms in China will meet to discuss the next stage of the development of a national group in March 2014 in Xi’an, the host city for DFK International’s Asia-Pacific regional conference in November 2014.