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The Accounting and Financial Reporting Council (AFRC) will continue strengthening, playing the pivotal role of a super connector and a super value adder, Hong Kong Trade Development Council chairman Frederick Ma Si-hang said at the AFRC Regional Regulatory Forum 2026 on Monday, adding that accountants, including tax advisors, are increasingly important as more and more companies going overseas from Chinese mainland.
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He advised the accounting profession to focus more on tax advice from now on, because a lot of Chinese companies would need service to advise them on better tax planning in the future.
Accounting currently takes up almost 27 percent of Hong Kong's gross domestic product, Ma cited, explaining that the industry serves as the pillar of Hong Kong as an international financial centre as all the H-shares are all audited by the Big Four.
He urged the industry to"do the accounting, not for one single shareholder, not for, a group of shareholders, but for all shareholders," and to "uphold the highest professional standards, because only when you do that, we can deserve Hong Kong as an IFC, which is so important for Hong Kong."
