HKICPA and IFAC host landmark PAIB Conference to gather global elites and explore future of finance leaders in a changing global landscape
- Written by Media Outreach
Paul Chan, Financial Secretary of the HKSAR Government (Fifth from Right), Stephen Law, HKICPA President (Fifth from Left), Josephine Okui Ossiya, Chair of the IFAC PAIB Advisory Group (Fourth from Right) and Dr. Kelvin Wong, Chairman of the Securities and Futures Commission (Fourth from Left), Michael George Fitzgerald, Finance Director of the MTR Corporation (Third from Right) and other distinguished guests gather for a group photo at the HKICPA x IFAC PAIB Conference.
This landmark event gathered important stakeholders from multiple sectors, showcasing the depth of industry collaborations: The event marked the first visit of the IFAC Professional Accountants in Business Advisory Group to Hong Kong in over 20 years. Chaired by Stephen Law, the first PAIB to serve as President of the HKICPA in more than a decade, the event successfully established a high-level platform for international exchange. This further underscores the Institute's unwavering commitment to bridging international standards with local business practices.The Financial Secretary, Mr Paul Chan, attended the event as the Guest of Honour. He said that geopolitics, technological disruption and the green transition are reshaping global business and finance. They are key forces redefining competitiveness.
Mr. Chan noted that Hong Kong is well positioned to benefit under "one country, two systems," offering stability and connectivity amid global uncertainty. He pointed to strong IPO activity, asset management growth, and deeper integration with the Chinese Mainland under the 15th Five-Year Plan.
He outlined two major strategies: "AI+" to integrate artificial intelligence across industries, supported by talent development initiatives; and "Finance+" to expand financial markets, strengthen the ecosystem, and support innovation and technology firms. Efforts include enhancing listing regimes, promoting green finance, and attracting global capital and enterprises.
Mr. Chan also stressed the need for accountants to enhance AI capabilities, understand geopolitical risks, and uphold professional integrity. He concluded that professional accountants will play a critical role in navigating change and sustaining trust in markets.
HKICPA President Stephen Law emphasized the unique "super connector" role of Hong Kong and the HKICPA's nearly 50-year partnership with IFAC in his welcoming remarks. He remarked: "As the common language of the business world, accounting plays an indispensable role in international commercial activities. PAIBs are often uniquely positioned to help enterprises turn uncertainty into decisions and strategy into performance. Moreover, given our unique position—backed by the Motherland while staying deeply connected to global markets—allows Hong Kong to act as a 'super value-adder' for businesses and investors to create value and manage complexity. The Institute will continue to actively host more international conferences and professional exchange activities to expand the global network of Hong Kong's accounting profession."
The Conference gathered an impressive lineup of international and local leaders, including IFAC Chief Executive Officer Lee White, who delivered a video remarks, Josephine Okui Ossiya, Chair of the IFAC PAIB Advisory Group, Dr. Kelvin Wong, Chairman of the Securities and Futures Commission (SFC) and Michael George Fitzgerald, Finance Director of the MTR Corporation.
SFC Chairman Dr. Kelvin Wong offered forward-looking insights into the future development of the financial center, while Finance Director of MTR Corporation Michael George Fitzgerald explored strategic leadership and the evolving responsibilities of finance leaders. Two panel discussions convened core financial leaders from sectors including the Government, infrastructure, real estate, hospitality, energy, and fintech. Senior financial and administration executives from InvestHK, MTR Corporation, Hang Lung Properties, Sino Group, State Grid Overseas Investment, Miramar Group and Floating Interest Corporation joined the stage to discuss strategic approaches to navigating uncertainty. The sessions underscored that PAIBs are at the forefront of addressing complex business challenges, driving innovation, and upholding robust corporate governance.
Looking ahead, the HKICPA will continue to promote accounting as international business language through multifaceted international collaborations. This includes deepening our partnership with IFAC and organizing further international conferences and professional exchanges, while enriching a suite of professional development resources. The HKICPA remains committed to fostering knowledge exchange between Hong Kong's PAIB community and their global counterparts, with a strategic focus on empowering members with future-ready skills. By providing comprehensive support to PAIBs, the HKICPA aims to assist finance leaders in embracing innovation and strengthening organizational resilience.
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