Daxin Global - Q&A

Pathways to success

How Daxin is developing career paths for its staff and providing training to allow its employees to achieve their full potential.

CPAs have long been a valued presence on corporate boards and audit committees in Canada. But as a landmark study by CPA Canada and KPMG suggests, many CPAs wait until they are approaching retirement or later to become directors. This is a missed opportunity, according to Ismail Akhter, CPA, director, tax & audit, Member Development and Support at CPA Canada and study lead co-authors Wendy Kei, FCPA, and Deborah Rosati, FCPA. 


“Given the value they can bring to the table, and the career benefits that board membership can bring, CPAs should consider becoming board members much earlier in their careers,” says Akhter. 

The Accountant: What is Daxin’s strategy for training a new generation of accountants?

Yue Hong, director of quality management at Daxin Global:

Daxin Global plans to adopt the following strategies to train the new generation of accountants:

  • Incorporate the latest trends and technologies in the industry: Advanced technologies such as artificial intelligence, data analysis and blockchain will be incorporated into the training programme to ensure that accountants are proficient in the latest tools and methods. 
  • Collaborate with universities and ICAEW professional institutions to introduce high-quality faculty and teaching resources. 
  • Emphasise practical operational skills and enhance students' practical application ability through case analysis, internships and other methods. 
  • Promote a lifelong learning culture by offering online courses, webinars and seminars on new trends and best practices in accounting and finance.
  • Align training programmes with international standards and certifications to ensure accountants have global competitiveness and can meet the needs of multinational clients.

Yue Hong, director of quality management at Daxin Global

TA: How are you partnering with ICAEW to deliver curriculum across different service lines, and what are the certifications gained?

YH: Our cooperation with ICAEW has greatly benefited Daxin Global in various business areas. Daxin Global has obtained the ICAEW authorised training employer status, which enhances the reputation of Daxin Global auditors and makes them more attractive to high-quality candidates seeking high-quality training and career development.

Participating in ICAEW's structured training programme ensures that employees receive comprehensive and standardised training, enhancing their professional skills and knowledge. In addition, ICAEW provides extensive support and resources, including training materials and best practice guidance. This support helps to ensure compliance with ICAEW's high standards and enhance the company's reputation and credibility in the industry.

For students, the benefits are equally important. They have obtained a globally recognised prestigious qualification (ACA) and it has opened up numerous career opportunities. The training covers multiple practical fields such as accounting, auditing and taxation, providing comprehensive professional education. Students will also receive guidance and support from experienced professionals, which is invaluable for their career development. In addition, the emphasis on ethics and career development helps employees to establish a solid moral foundation and professional attitude, thereby improving job satisfaction and retention rates.

At the same time, to help professional accountants embrace international certification and a global perspective, the ICAEW "Member Express" project also provides a convenient channel for Chinese certified public accountants to access international authoritative accounting qualifications. Applicants who have held a Chinese Certified Public Accountant qualification for five years or more will have the opportunity to obtain the ACA (ICAEW Chartered Accountant) title through assessment. They can then enjoy ICAEW membership benefits and use the abundant resources on offer.

TA: ‘What are the different entry pathways to working in an accounting firm in China?

YH: Joining an accounting firm in China involves multiple pathways, each requiring specific qualifications and certificates.

University education

  • Bachelor's degree: A bachelor's degree in accounting, finance, or related fields is usually the minimum requirement. Many companies also prefer candidates with a Master's degree in Accounting or Business Administration.
  • Related courses: Financial accounting, management accounting, auditing, taxation, and commercial law courses are essential. 


Certification

  • CICPA (Chinese Institute of Certified Public Accountants): This is one of the most recognised certifications in China. It involves passing a series of rigorous exams covering subjects such as accounting, auditing, financial management and tax law.
  • ACA&ACCA: These two globally recognised certifications are highly valued in China, especially for those who wish to collaborate with multinational corporations. They cover a wide range of accounting and finance topics.
  • CMA (Certified Management Accountant): Provided by the Institute of Management Accountants, this certification focuses on financial management and strategic management skills.
  • American Certified Public Accountants (AICPA): American certified public accountants are also respected, especially those who wish to collaborate with international clients or multinational corporations.
  • HKICPA (Hong Kong Institute of Certified Public Accountants): Individuals holding this certificate can convert it to CICPA by taking additional exams in economic and tax law.


Professional experience

  • Internship: It is crucial to gain practical experience through interning at an accounting firm. Many companies offer structured internship programs that provide practical experience and exposure to real-world accounting practices.
  • Apprenticeship system: Some companies offer apprenticeship programmes that combine on-the-job training with formal education, allowing candidates to earn money while learning. 

TA: What is Daxin’s strategy in China for strengthening its brand and communications to reach a new generation of practitioners? How is the messaging different for a new Gen Z audience?

YH: Daxin Global has recognised the urgent need to strengthen and establish its brand and communication in order to effectively reach the new generation of practitioners in China.

This effort is driven by several key factors: 

  • The constantly evolving market dynamics: China's accounting industry is rapidly developing, competition is becoming increasingly fierce, and companies need to achieve differentiation. Building a strong brand helps Daxin stand out in a crowded market.
  • Technological progress: The rise of digital technology and social media platforms has changed the way companies communicate with potential employees and customers. Daxin has adopted these technologies to enhance its brand awareness.
  • The constantly changing labour force demographics: As Generation Z now constitutes a significant portion of the workforce, it is necessary to tailor communication methods that resonate with this demographic. Generation Z values authenticity, transparency and social responsibility, which are key elements of Daxin's brand strategy. 

TA: What is needed at Daxin in terms of management mindset and cultural shift to incentivise and meet the expectations of a younger generation of accountants?

Noor Karim, Managing Partner of Daxin UAE: In order to meet the expectations of the younger generation of accountants, Daxin Global understands the necessity of adopting flexible, inclusive, and technically proficient management thinking.  

By promoting continuous learning, providing clear career paths, fostering a collaborative culture, and utilising technology, we can create an environment that attracts, retains, and motivates young talent.  

This cultural shift will not only meet the needs of young accountants, but also drive companies to succeed in rapidly developing industries. 

Noor Karim, Managing Partner of Daxin UAE

TA: What steps are management taking in terms of retraining, re-educating and reskilling to adapt to the fast-paced adoption of automation in the workplace and to mentor Gen Z entrants?

Guo Anjing, Partner of Daxin China Shanghai Headquarters:

These are areas of great importance for management and we maintain this focus by undertaking a number of activities as follows:

Retraining:

  • Participating in industry seminars, training courses, etc. to learn about the latest industry trends and technological developments.
  • Cooperating with universities and professional institutions to carry out customised training programs.
  • Encouraging internal communication and sharing of experiences among management to promote mutual growth. 


Re-education:

  • Pursuing higher-level degrees or professional certificates to enhance one's professional competence.
  • Participating in leadership training, management courses, etc. to improve management skills at leadership level. 


Reskilling:

  • Learning how to use automation tools and software to improve work efficiency.
  • Cultivating emerging skills such as data analysis and artificial intelligence to adapt to industry development trends.


Guiding Gen Z newcomers​​​​​​​:

  • Establishing a mentorship system to provide one-on-one guidance and assistance for newcomers.
  • Sharing experiences experiences to help newcomers grow quickly.
  • Encouraging newcomers to propose innovative ideas and suggestions to jointly promote the development of the enterprise. 

Guo Anjing, Partner of Daxin China Shanghai Headquarters

TA: What new skills can Gen Z bring to organisations?

Moiz Mnyusiwala, Managing Partner of Daxin Tanzania: Generation Z accountants bring new skills in technology, data analysis and creative problem-solving. They excel at using automation tools, have strong adaptability to constantly changing environments, and are naturally inclined towards innovation, making them assets for developing more efficient workflows and utilising new technologies. 

Moiz Mnyusiwala, Managing Partner of Daxin Tanzania

TA: What type of technology investment is being made at Daxin, at the corporate and firm levels, for learning delivery, and what new topics are being added to the syllabus?

GA: We are making a number of changes in both technology investment and syllabus development to improve the learning experience including:

Technology investment type:

  • Online learning platform: Investing in building a powerful online learning platform that provides rich learning resources and interactive features, enabling learning anytime, anywhere.


Teaching syllabus news:

  • Adding courses on emerging technologies such as big data analysis and the application of blockchain technology in the field of accounting.
  • Strengthening practical teaching: Collaborating with enterprises to carry out internship projects to enhance students' practical operational abilities.
  • Emphasising interdisciplinary knowledge integration: integrating knowledge from disciplines such as management, economics, and law into accounting teaching. 

TA: What do you think aspiring accounting leaders at the firm level are looking for in terms of career structure and pathways to leadership? What is your approach to creating these opportunities and what do aspiring leaders need to do to succeed?

GA:

Career Structure:

  • Clear promotion channels: Establish a clear job ranking system and promotion standards, allowing young leaders to see career development prospects.
  • Diversified job rotation: There is an opportunity to rotate between different departments and positions, accumulating comprehensive business experience.
  • Leadership experience: Provide timely opportunities for leadership positions to cultivate their leadership and decision-making abilities. 


Approach:

  • Excellent performance: Stand out through outstanding work performance and obtain promotion opportunities.
  • Continuous learning and self-improvement: Continuously learning new knowledge and skills to enhance one's overall quality.
  • Establishing good interpersonal relationships: building good relationships with colleagues, superiors, and clients to expand career development opportunities. 

TA: What do accounting firms in China need to do to retain talent in the current climate and what incentives are coming in to play?

Wang Zixuan, Junior Auditor at Daxin China Wuhan Headquarters: Chinese accounting firms face many challenges in retaining talent, and have also taken various measures to address these challenges:

  • Training and Development: Support employees to obtain professional qualification certifications, such as Certified Public Accountant (CPA), and provide relevant training courses. Regularly hold internal training to enhance employees' professional and soft skills. Encourage employees to participate in external seminars, conferences, etc. to broaden their horizons and networks.
  • Salary and benefits: Provide competitive compensation and benefits in the market to attract and retain talent. Establish a performance-based bonus plan to reward outstanding employees. Provide comprehensive welfare plans, such as medical insurance, retirement plans, etc.
  • Promotion and career development: Provide employees with clear career development paths and set achievable goals. Ensure a fair and transparent promotion mechanism, allowing employees to see the possibility of promotion. For capable employees, provide opportunities for overseas work or study to enhance their international perspective.
  • Work environment and culture: Provide flexible working hours and remote work options to enhance work life balance. Encourage open communication and establish a working atmosphere of mutual trust. By participating in public welfare activities and other means, employees can enhance their sense of belonging and social responsibility towards the company.
  • Employee care: Organise team building activities to enhance team cohesion. Provide mental health support services, such as counselling services. 

Wang Zixuan, Junior Auditor at Daxin China Wuhan Headquarters