The major challenges facing finance professionals in the current economic climate was the theme of an ACCA forum in Shanghai

The event, entitled Meeting the Global Challenge: Strategies and Solutions, considered the many risks facing businesses in the current downturn and identified the finance strategies most likely to help them survive.

The forum follows a recent ACCA survey that revealed how the responsibilities of the CFO have changed considerably over the past year, with more direct involvement in strategic planning and formulating corporate strategy.

'Almost two-thirds of those surveyed predicted an increased demand for accountants over this period,' said Laurie Gillow, ACCA executive director – markets, in her address to the forum. 'This is, in part, being driven by the trend towards the standardisation of accounting and reporting standards. Many finance leaders surveyed pointed to the adoption of IFRS as driving greater global demand for qualified accountants.

'Those we surveyed in Asia were especially optimistic about future prospects, with 79% anticipating demand for qualified accountants to increase between now and 2014.'

The forum gave chief financial officers the opportunity to partake in a panel discussion, sharing tips on how to obtain finance successfully in the current economic climate, as well as providing delegates with the opportunity to hear speeches by a selection of industry leaders, including Francesco Sirna, chief financial officer of Citi China, and Joseph Fitter, financial director of Intel China.