It became the first foreign accounting association to gain a foothold in the capital, said Greg Larsen, chief executive officer of the association.

The office aims to serve its 300-plus members working in China and seek more cooperation with the Ministry of Finance and the Chinese Institute of Certified Public Accountants (CICPA).

"CPA Australia trusts the exchange of information and expertise will help build the accountancy profession in China with international practices," said Des Pearson, national president of the association.

While China is tightening its supervision on CPA firms after a string of scandals ruined the reputation of the industry in 2001, he said CPA Australia is very happy to share its experience in educating and disciplining CPA firms with Chinese partners.

"Our project to open CPA Australia's first representative office in Beijing is tangible evidence of our commitment to cooperating with the Chinese mainland authorities to help build the accountancy profession," said Pearson.

CPA Australia represents 97,000 financial, accounting and business advisory professionals in Australia, Asia and Europe.

(People's Daily March 28, 2002)