Starry Lee Wai-king enthuses that the common joke among accountants is that they are always in demand whether economic times are good or bad.

She believes that there is very keen competition in Hong Kong. This is evidenced in the fact that even though numerous young people receive accounting degrees from local institutions every year, there has yet to surface a problem of over-supply in the field.

As accounting practices in China move towards international standards, the phenomenon floods the mainland market with immense opportunities and challenges.

In turn, this entices many Hong Kong accountants to work on the mainland.

Lee advises local accountants to prepare themselves well if they wish to find their fortune on the mainland.

"It will be a big challenge for them to grasp the changing taxation policy and practices," she commented.

As for fresh mainland graduates, their starting salary is only slightly higher than what Lee earned in her salad days, but they do stand to earn bigger salary increments.

Still, they have fewer advancement opportunities than accountants had in the old days when China's rapid economic development required many accountants.

Mainland universities now produce their own accountants and many of them are outstanding, she noted. And as Hong Kong accountants demand higher salaries, they are less competitive than their mainland counterparts.

(HK Edition 03/12/2010 page4)