New award celebrates excellence in accounting

CPA Australia is proud to sponsor the inaugural ‘Best Accountant of the Year’ category of the Indian Newslink Indian Business Awards 2013, which will be held at Sky City Convention Centre in Auckland on Monday, November 18, 2013.

The category is a new addition to the Awards line-up, which has been running now for five years.

The CPA-sponsored award is a natural step in the evolution of an awards programme that serves to celebrate all-round business excellence.

‘The Best Accountant of the Year’ Award acknowledges the significant contribution that Indian accounting professionals are making to the success of New Zealand businesses, both here and overseas.

As one of the world’s largest accounting bodies, CPA Australia represents more than 144,000 finance, accounting and business professionals in 127 countries.

In 2009, CPA Australia established a reciprocal agreement with the Indian Institute of Chartered Accountants and the relationship between the two bodies continues to develop and grow.

Finance professionals with a qualification like CPA who contribute to their organisation’s strategic direction and decision-making will always be in demand worldwide.

The backbone

Accounting is traditionally described as ‘the language of business’; importantly, it is also the backbone of a business.

Accounting is used not just to measure a company’s financial performance and economic stability but also a value-add service that offers strategic insights and business advice.

Modern accounting professionals are, accordingly, much more than pure ‘number crunchers’ and can have a positive and immediate impact on their organisation far beyond the finance division.

Accountants work in a variety of fields – from public practice to large accounting firms, from big corporations to government departments – in every country around the world, wherever business is conducted.

In all these roles, accountants play a pivotal role in business because the information they collate, analyse and disseminate is crucial to the health and sustainability of the enterprise concerned.

Today’s accountants are collaborative partners and strategic business leaders focused on delivering successful commercial outcomes.

Skills in international business, thought leadership, communication and persuasion – these are some of the broader ‘must-have’ aptitudes of today’s successful accounting professionals.

Dynamic profession

Accounting is also one of the more dynamic functions in business.

As the modern business environment continues to change (for example, it is now much more global), the accounting profession must learn and adapt to stay on top, if not ahead, of the curve.

One such learning has been the global financial crisis.

This prolonged event has had an enormous impact: in its wake greater accountability and transparency in financial reporting is increasingly important.

In today’s hyper-dynamic global business environment, businesses must be prepared for all scenarios − complacency is simply not an option.

Risk management and contingency planning are the order of the day.

A return to the fundamentals of good business practices is essential to riding out a downturn while preparing to take advantage of an upturn.

Specifically, business should take stock and adopt a risk management mind-set, pursue high standards of financial management, improve their cash position, review their trading terms with customers and suppliers, and ensure they are fully aware of the terms of their banking facilities.

All of this falls squarely within the accountant’s purview.

A professionally qualified accountant has all the necessary skills in their armoury to help business succeed.

We at CPA Australia look forward to seeing you at the Indian Newslink Indian Business Awards 2013 and to presenting the inaugural ‘Best Accountant of the Year Award’ to the winner.

David Jenkins is the Country Manager (New Zealand) of CPA Australia based in Auckland. CPA Australia is the Sponsor of the ‘Best Accountant of the Year Award’ of the Indian Newslink Indian Business Awards 2013.

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