People’s Daily (17 November 2017, Page 14)
This year marks the 90th anniversary of BDO China Shu Lun Pan CPAs (BDO China). With nine decades of endeavours, BDO China is now among the most recognised local accounting firms in China. As one of the most influential Chinese CPA brands, BDO China has set a good example of the development of a local Chinese accounting firm into a prestigious industry player with international presence.
It’s all built on integrity
BDO China Shu Lun Pan CPAs was founded in 1927 by Dr. Shu Lun Pan, an outstanding educator and accountant. As the founder of BDO China, Dr. Shu Lun Pan made an impact beyond the company. Celebrated as the “father of modern accounting in China”, he was a trailblazer in the country’s accounting industry, nurturing talents in the field. He was the one who introduced western accounting culture to China in the first half of the 20th century. He promoted integrity, the cornerstone and lifeline of the industry. He established an accounting school where he, as an educator, trained countless talents who would later contribute to China’s economic development. His BDO China Accounting Literature (立信会计丛书) has become a classic of its kind. In addition, he created a trinity model of accounting firms, professional education in accounting and accounting publications, which is still a good example of “industry, academy and research” integration for Chinese universities.
In the early days of BDO China, Dr. Shu Lun Pan set his integrity-oriented principles guiding career planning, professional ethics, general conduct and interpersonal relationships. Even after nine decades, these principles still stand and underpin BDO China’s risk management practice.
Today, China’s accounting industry has made huge leaps, and Chinese accountants are increasingly respected in the global market. The true meaning of practicing open-mindedness, revolution and innovation is the willingness to absorb and capitalise on all remarkable cultural accomplishments, making China strong in accounting, a dream shared by the Chinese accounting community.
BDO China brand revived
With China’s reform and opening up in the 1980s, BDO China resumed accounting practice after a halt that had lasted for a few decades. Taking opportunities presented by the nationwide policies, BDO China began to see steady development.
At the end of the 20th century, BDO China completed its reincorporation amid the national trends of restructure and reorganisation, facilitating its rapid development. After the implementation, BDO China broke free from the restrictions that had once hindered its advancement. During the period of rapid growth in China’s economy and capital market, BDO China attracted talents and enhanced its service standards by adopting a new shareholding mechanism and business model, taking the development of the accounting firm to reach new heights.
The State Council published Document No. 56 in 2009 to encourage local accounting firms to expand their presence and influence. Against this backdrop, a comprehensive reform was taking place at BDO China. Investing a considerable amount of manpower, capitals and other resources, BDO China strengthened its leadership as well as adopting bold innovations. The company became the first Chinese accounting firm of limited liability partnership and was granted the qualification for providing auditing services to H-share companies. In this way BDO China took a solid step towards modernisation and internationalisation.
With 90 years of experience, BDO China has become an industry leader whose brand value is making quite a mark. Over the past decade, the BDO China brand has enabled us to gain recognition and reputation in China. As we venture on the path of internationalisation, we have also realised the great value of BDO China’s intangible assets and the global influence it brings.
Envisioning a century of prosperity
How can we further enhance the BDO China brand amid the new round of evolvement of socialism with Chinese characteristics? Faced with a mission that calls for commitment, we understand that devotion is the only key to a brighter future. We aim to achieve a century of success as we are always excited about our journey of continued excellence.
——Always bear in mind the principles of BDO China and put them into practice. Let these principles be our guidance, act with integrity and to the most stringent standards. Foster an environment of ethical practice in the sector and our society at large. BDO China should always evaluate and learn from experience, expanding its presence through ongoing improvement.
——Keep pace with the times and contribute to the society, the economy and the capital market. BDO China operates with a mission to stay ahead of the times and make social contributions. Creating greater value for the society has always been BDO China’s mission. The company adheres to high audit quality and effectively manages audit risks. It also promptly responds to social needs and provides efficient services. In regards to efforts for realising its value in the great national rejuvenation, BDO China plans to participate in the provision of services related to the Belt and Road initiative.
——Remain committed to the strategy of going global while securing a firm base in China. Develop BDO China into an accounting firm with a multinational perspective that attracts top talents from around the world. We must enhance our standards of practice and improve management as we participate in international mergers and acquisitions. We aim to make our Chinese accounting brand known throughout the globe.
The success of the 19th National Congress of the Communist Party of China has set clear directions for various undertakings in the new era of socialism with Chinese characteristics. Building on a 90-year history, BDO China will study and uphold the spirit of the 19th National Congress. Furthermore, BDO China remains committed to its vision and mission, and will keep its way forward despite daunting challenges, with a view to making greater contribution to the development of China’s CPAs, the nation’s economic stability and prosperity, and the realisation of the dream of national rejuvenation.
(The author is a Party Committee Secretary and the Chairman of BDO China Shu Lun Pan CPAs)