At a recent conference, Chen Yugui, Secretary-General of the Chinese Institute of Certified Public Accountants, pointed out that scientific and technological advancements—particularly those driven by information technology—are transforming human production and daily life with unprecedented depth, breadth, and speed. At the same time, these advancements are reshaping the very definition of accounting talent and the criteria used to evaluate such talent. In this new technological environment, it is crucial to accelerate the development of three new types of accountants: accountants who innovate accounting systems, accountants who work on emerging platforms, and accountants who provide accounting services to support corporate innovation. Chen Yugui’s remarks have drawn intense attention from both media outlets and colleagues within and outside the certified public accounting profession.

Recently, a reporter from the “Caihui Xinbao” conducted an in-depth interview with Chen Yugui on the topic of stepping up efforts to cultivate three new types of accountants.

  Technological advancement, innovative transformation, and economic globalization are calling for a new type of accountant.

Reporter: On what background and under what understanding was the proposal to cultivate three new types of accountants put forward?

Chen Yugui: ACCA This year 5 Moon 23 Held in Beijing 2017 Annual summit, with the theme: “ Innovation Wins the Future ” They invited me to deliver the keynote speech. The summit’s theme is closely related to the five-year industry plan and the ongoing efforts to promote informationization that the Chinese Institute of Certified Public Accountants is currently implementing. Indeed, I have quite a few things to share with my colleagues in the profession. That’s why I chose this particular topic for my talk. In my view, the purpose of innovation is people, and the driving force behind innovation is also people. When it comes to innovation in the accounting profession and in the CPA industry, the most fundamental task is to innovate the concept of accounting talent and to innovate the methods of cultivating accounting professionals—ultimately, it all boils down to the innovative transformation of accountants themselves, that is, to nurture a new type of accountant. Here, the term “accountant” encompasses not only certified public accountants engaged in independent auditing—the auditors—but also non-practicing CPAs, and even more so, the millions of accountants working in enterprises and the public sector.

Proposing the cultivation of a new type of accountant is clearly grounded in a broader context characterized by rapid technological advancement, corporate innovation and transformation, and the deepening of economic globalization. The entire significance of an accountant’s work lies in value management—performing a series of functions such as value creation, value promotion, value measurement, and value verification. Among these, value measurement is central: measuring the value of property rights, measuring the value of liabilities, measuring the value of goods and services, measuring the value of transactions, measuring the value of operational performance, measuring the value of enterprises, and so forth. As a new round of technological advancement, corporate innovation and transformation, and globalization continue to deepen, they are bringing about numerous profound changes to the work of accountants. First, the forms of value realization have changed. New industries, new business models, new products, new services, new transaction arrangements, and new policy designs all call for updated definitions of value and revised standards for value measurement—including accounting standards and auditing standards—and demand innovative approaches to value creation and value promotion. Second, service demands have evolved. As the hallmark expertise of accountants— “ Three tables ” It is increasingly unable to meet market demands, and the standard audit report template can no longer satisfy the needs of assessing companies’ opportunities and risks or evaluating enterprise value. Third, with changes in technological tools, many accounting tasks will increasingly be replaced by information technology solutions. The story of information technology replacing accountants and auditors has played out in the past. 30 Over the years, these developments have been repeatedly enacted and continuously escalated. The earliest experience was computerized accounting—where computers replaced manual bookkeeping. Later came financial shared services, which facilitated the integration and efficient use of financial resources. Following that was big data analytics: a single big data model can now provide us with insights of a depth we could never have imagined before. Today, data analytics, artificial intelligence, mobile internet, Internet of Things technology, and blockchain technology are all opening up vast new application prospects for accountants. These technologies hold the promise of freeing accountants from simple, repetitive, and tedious tasks, enabling them to focus instead on higher-level professional judgment and engage in more creative work.

Faced with such profound changes, the accounting profession urgently needs new insights and reflections.

  It’s no exaggeration to say that accountants could face the risk of losing their jobs.

Reporter: Some people have remarked that, with the advancement of artificial intelligence technology, accountants... “ Rice bowl ” Not guaranteed. You yourself have also stated that in today’s information age, if we fail to keep pace with informatization, the certified public accountant audit... “ Rice bowl ” It could be adopted by other industries. “ Cross-border ” Instead, could you elaborate on your views on this issue?

Chen Yugui: Over the past few years, it has become all too common for internet technologies to take away people’s jobs. Saying that accountants could face the same fate is hardly an exaggeration. The real question is how accountants themselves perceive this trend and how they choose to respond. The accounting profession still differs from many other industries that have already seen their jobs displaced. That’s because accountants are knowledge workers, and the accounting industry is a highly intellectual one. Professional judgment—their core competency—is something that artificial intelligence simply cannot replicate. That’s one key point. The second point is that, as human history has shown time and again, every technological advancement presents an opportunity—depending on how we choose to respond. If accountants embrace self-reform, proactively undergo transformation, and consciously integrate with information technology, this can actually turn into a tremendous opportunity. We’ve often emphasized before that cultivating versatile accounting professionals doesn’t mean turning every accountant into an entrepreneur, banker, or strategist. Rather, it means training accountants who understand business operations, finance, and the bigger picture. Similarly, in the face of advancing information technology, the principle remains the same: we’re not aiming to turn all accountants into IT experts. Instead, we’re focused on developing accountants who not only understand IT but also know how to apply it effectively and are bold enough to integrate it into their work. After all, accounting functions possess a unique logic and intrinsic value within the economic and social system. New-generation accountants will thrive alongside technological progress and corporate innovation, engaging in mutually beneficial interactions while preserving their distinctive value.

  Three new types of accountants will play different roles in the accounting system.

Reporter: Understanding the concept of the new type of accountant in this way seems to make things clearer. Could you please... “ Three New Types of Accountants ” Would you like me to provide further explanation? What unique roles will these three new types of accountants play in the future of accounting work?

Chen Yugui: I am in ACCA The summit proposed the need to cultivate... “ Accountants who specialize in innovative accounting systems, accountants working on new platforms, and accountants providing accounting services to drive business innovation. ” Due to time constraints for the presentation, I didn’t go into detail. I’m glad to take this opportunity to elaborate a bit here.

So-called “ Accountants of innovative accounting systems ”， The key term here is “innovative accounting system”—a new accounting system built on the internet and cloud platforms, leveraging big data and intelligent technologies, and seamlessly integrated with corporate governance, decision-making, management, and business operations. This system not only relies on IT experts but also requires active participation from accountants in its design and development—just like... AlphaGo Just as the creation of a new Go system requires the participation of Go experts, the creation of a new accounting system also requires the involvement of accountants.

So-called “ Accountants working on the new platform ”， Refers to accountants who are capable of operating the new accounting system. Like many information technology products, the new accounting system is a... “ Black box ” If an accountant doesn't understand this... “ Black box ” Without the necessary operational skills and techniques, this new accounting system simply cannot function. It’s much like high-priced computers and smartphones—or even the powerful internet—whose full potential remains largely untapped in the hands of those who don’t know how to use them. The underlying principle is the same: accountants who can work effectively on the new platform are those who have mastered the ability to “communicate” with the new accounting system.

So-called cultivation “ Accountants who provide accounting services for business innovation ” This is because the internet has accelerated the digitization of the real world, generating massive amounts of data. Corporate decision-making and management now require extracting, identifying, integrating, summarizing, and leveraging this data—transforming it into a language that’s comprehensible for decision-making, management, and business operations, and turning it into valuable resources. Without such extraction, identification, and processing, data would remain just data—nothing more. The significance of the new type of accountant lies precisely here: In the new environment, corporate decision-making increasingly faces challenges posed by uncertainty, necessitating the use of new dimensions and novel approaches to handle vast volumes of information. Accountants are called upon to provide more effective decision-support services in response to these demands.

If we think of the new accounting system as an ecosystem, three new types of accountants will play distinct roles: creating the new system, operating the new system, and applying the new system.

  The Chinese Institute of Certified Public Accountants has formulated a plan with clearly defined tasks to cultivate three new types of accountants.

Reporter: What considerations and measures does the Chinese Institute of Certified Public Accountants have regarding the development of three new types of accountants?

Chen Yugui: Still at ACCA At the summit, I discussed several characteristics of the new type of accountant and outlined four key points. First, a comprehensive understanding of the broad and profound connections among economics, finance, law, culture, society, and how these fields interrelate. Second, a correct grasp of the logic behind scientific and technological advancements as well as the mechanisms through which they benefit humanity. Third, a deep understanding of the operational principles underlying the core functions of accounting professions, including accounting, auditing, financial management, tax planning, legal compliance, and management. Fourth, the ability to engage in self-learning, continuous learning, and cross-disciplinary learning.

The growth of the new type of accountant and the accountant’s own transformation are primarily driven by the accountants themselves. By outlining the characteristic requirements for the new type of accountant, my intention is to issue a call to action for accountants and provide a reference for their professional development. At the same time, the Chinese Institute of Certified Public Accountants bears a significant responsibility in guiding and supporting the growth of this new type of accountant.

The new five-year plan for the Certified Public Accountant (CPA) profession identifies talent development as a key priority area for discussion. The five-year informatization plan for the CPA profession emphasizes that the Chinese Institute of Certified Public Accountants (CICPA) and local CPA associations should intensify efforts to cultivate IT professionals within the industry and increase the proportion of information technology knowledge in pre-qualification education, continuing professional education, and the training of leading talents. At the same time, accounting firms are urged to step up their efforts in both cultivating and recruiting IT professionals, placing particular emphasis on developing and attracting versatile talents with skills in financial auditing, information systems auditing, big data analytics, and other related fields to meet the demand for new types of professionals in the era of digital transformation. The CICPA’s recently released “Work Plan for Promoting Informatization in Accounting Firms” also lists talent development, technical training, and experience sharing as top priorities for the association. This year’s class for cultivating leading talents in the CPA profession is focused on training IT professionals for the industry and is currently being held in Dalian. CPA