The Association of Chartered Certified Accountants (ACCA) and Alibaba Cloud signed an agreement, forming a relationship between the two in order to focus on course development, research and professional insights.

This agreement was signed during China international expo in Shanghai, by ACCA’s chief executive Helen Brand, and Alibaba Group’s vice president Liu Song.

Officials were also present at the signing, including China and Hong Kong’s trade commissioner Richard Burn, UK’s secretary of state for international trade Liam Fox, and the European department’s ministry of commerce deputy director Yu Yuantang.

Brand said: “ACCA and Alibaba Cloud have a close working relationship already, so this agreement is the logical next step for our joint work together. Our collaboration is broad – from producing joint research to looking at course development for ACCA members about digital innovations.

“Developing the accountancy profession’s ‘digital quotient’ is a must – this is the awareness and application of existing and emerging digital technologies, capabilities, practices and strategies – and this Agreement is all about bolstering this quotient.”

Song added: “I’m particularly looking forward to producing joint research and also offering training sessions for the C-suite on digital developments. We are both committed to training the most forward-looking professionals, and this Agreement will work to ensure the profession is ready for digital business growth.”