PAO Development Committee Events in 2012
Middle East North Africa Region
In December 2012, IFAC staff attended the Kuwaiti Association of Accountants and Auditors (KAAA) Accounting and Auditing Third Professional Conference, which focused on development of the profession and emerging issues throughout the Middle East region. The event, held in Kuwait City, Kuwait, included presentations from Kuwait University, the Jordanian Association of Certified Public Accountants, and the Arab Federation of Accountants and Auditors (AFAA). Presentations focused on a wide variety of issues, including design and development of accountancy education programs throughout the Middle East, variations in Islamic banking and finance between countries within the region, and strengthening accountancy throughout the region. The conference also offered the opportunity for IFAC staff to hold discussions with representatives from the Yemen Association of Certified Public Accountants, Palestinian Association of Certified Public Accountants, Lebanese Association of Certified Public Accountants, Gulf Cooperation Council Accounting and Auditing Organization, KAAA, Bahraini Association of Accountants, and the AFAA.
United Arab Emirates
IFAC staff traveled to Dubai, United Arab Emirates (UAE), in December 2012 to participate in meetings with the UAE Association of Accountants and Auditors (AAA), the Dubai Financial Services Authority, and the UAE Securities and Commodities Authority regarding the importance of supporting the development of national professional accountancy organizations, the road to IFAC membership, and how the organizations can work together to support the development of the AAA. Following these discussions, the AAA brought together representatives from across the UAE government to address these issues; the meeting included representatives from the Accounts Auditors Department in the Ministry of Economy and Securities and Commodities Authority and concluded in the formal creation of the Higher Committee for IFAC Compliance Task Force, whose goal is to maintain dialogue among AAA and government stakeholders on IFAC compliance and membership and enhance compliance with IFAC Statements of Membership Obligations. An article has been published in Arabic describing the task force and initiative.
Sri Lanka and the Maldives
IFAC Member Body Development staff recently travelled to Sri Lanka to conduct outreach with the three national member bodies. Discussions focused on the implementation of SMO Action Plans and ongoing challenges and priorities. Meetings with other member bodies were also held around three events that brought together national, regional, and international delegates: the Institute of Chartered Accountants of Sri Lanka’s 33rd National Conference; an Integrated Reporting Conference; and an Accounting Technician Workshop organized by the Confederation of Asian and Pacific Accountants(CAPA) (an IFAC Recognized Regional Organization). IFAC staff also had the opportunity to attend CAPA’s Board and committee meetings. IFAC staff also visited the Maldives for meetings with the CPA Institute, the Auditor General’s Office, and other national stakeholders as they work on revisions to the regulatory structures regarding the accounting profession.
The IFAC PAO Development Committee met in London, UK, in October 2012 to discuss strategy implementation and global priorities and to explore accountancy development in the Europe and Central Asia (ECA) region. The two-day meeting was generously hosted by the Association of Chartered Certified Accountants and took place alongside the MOSAIC Steering Committee, hosted by the Chartered Institute of Public Finance and Accountancy.
The recently held Realizing the Power of PAOs seminar in Hanoi, Vietnam, brought together more than 50 individuals representing IFAC, the World Bank, and regional organizations and professional accountancy organizations (PAOs) from across the East Asia Pacific region and beyond, including IFAC members and those working toward membership. The event was hosted by the Vietnam Association of Certified Public Accountants and supported by the Confederation of Asian and Pacific Accountants (CAPA) and included presentations from World Bank and IFAC experts. Presentation topics included the global and regional scenes, recognizing the importance of the accountancy profession and the role of PAOs, and development successes and challenges of PAOs in the context of East Asia Pacific. The event also included a workshop that allowed attendees to discuss their achievements, challenges, and best practices. While in Vietnam, IFAC staff also held outreach meetings with key representatives of the profession, including the Ministry of Finance and the Vietnam Association of Accountants and Auditors. Presentations from the event are available on the IFAC website.
Ten professional accountancy bodies from the Central and East European region gathered for the 6th time in Chisinau, Republic of Moldova, on June 21-23, 2012. The “Cross-Border Meeting” had the theme, The Role and Responsibilities of Professional Associations in the Regulation of the Accounting Profession. IFAC’s Member Body Development Senior Technical Manager Szymon Radziszewicz spoke at the event, as did representatives from the World Bank, Fédération Internationale des Experts-Comptables Francophones, and PAO representatives from Belgium and the Netherlands.
The Colegio de Contadores Publicos de Nicaragua, along with the World Bank, the Inter-American Development Bank, the Global Public Policy Committee, and IFAC, with the support of the Inter-American Accounting Association, will co-host CReCER 2012, Quality Financial Information for Regional Economic Development, October 29-31, 2012, in Managua, Nicaragua, at the Crowne Plaza Convention Center. For more information, please see http://crecer2012.org.
A PAO Development Committee meeting took place on May 1-2, 2012 in Tunis, Tunisia, coinciding with a conference on governance and transparency in the public sector, co-hosted by the Ordre des Experts Comptables de Tunisie (OECT) and the Pan African Federation of Accountants (PAFA), and a meeting of the Arab Federation of Accounting and Auditing (AFAA). IFAC President Göran Tidström, PAO Development Committee Chair Deborah Williams, and other members of IFAC leadership gave presentations at the PAFA meeting along with key regional and national stakeholders (for more information on PAFA, please see the PAFA launch press release). Attendees at the OECT-PAFA conference and the AFAA meeting also participated in breakout sessions during the PAO Development Committee meeting to discuss aspects of the development of the profession and PAOs in Africa and other regions.
In April 2012, Daria Koukhar, IFAC technical manager with the Member Body Development Team, undertook an outreach trip to Russia to meet with professional accountancy organizations (IFAC members and organizations working toward IFAC membership) to discuss their implementation of Compliance Program Action Plans and provide an update on the SMO revision project.
In April 2012, Gabriella Kusz, IFAC technical manager with the Member Body Development Team, presented at the board meeting of the Fédération des Experts Comptables Méditerranéens (Federation of Mediterranean Accountants, or FCM) regarding the work of the PAO Development Committee and the strategy for the Europe and Central Asia region. Meetings with individual FCM member PAOs to discuss development and the importance of Compliance Program Action Plans were also held.
Afghanistan Stakeholders' Roundtable, Dubai, United Arab Emirates
Dr. Ahmad Almeghames, Deputy Chair of the PAO Development Committee, spoke at the Afghanistan Stakeholders’ Roundtable, hosted by the Association of Chartered Certified Accountants on March 14, 2012, in Dubai, United Arab Emirates. The event focused on working together to build the accountancy profession in Afghanistan, and was attended by, among others, representatives from key employers, the World Bank, and the British Council. Dr. Almeghames emphasized the important role of PAOs, key considerations in their development, and the range of support IFAC can offer along the way.
MOSAIC Steering Committee Meeting in India
On February 22, 2012, the MOSAIC (Memorandum of Understanding to Strengthen Accountancy and Improve Collaboration) inaugural Steering Committee Meeting held in Jaipur, India. The meeting was generously co-hosted by the Institute of Chartered Accountants of India and the Institute of Cost Accountants of India and was held at the Marriott Hotel Jaipur. The MOSAIC MOU between the donor community and IFAC is an historic agreement that underlies the goals and objectives of the PAO Development Committee and works to enhance donor support for the establishment and strengthening of PAOs around the world. This first meeting built on MOSAIC’s signing in Busan, South Korea, in November 2011, and worked to create consensus around: goals and objectives of MOSAIC; establishment of the MOSAIC Steering Committee; establishment of the MOSAIC Secretariat; and a proposed Work Program. Event photos and the IFAC presentation are available online.
Gabriella Kusz, IFAC Technical Manager with the member body development team, traveled to Kuwait City, Kuwait, in February 2012 to conduct outreach with the Kuwaiti Association of Accountants and Auditors (KAAA) relating to implementation of their Action Plan and enhancing dialogue with key regulatory stakeholders. During this outreach, staff and KAAA met with representatives from the Kuwaiti Ministry of Commerce and Industry, Capital Markets Authority and Central Bank of Kuwait to raise awareness regarding the role of the accountancy profession in the country, the IFAC Statements of Membership Obligations, and the value of the IFAC Compliance Program. The presentation and event photos are available online.
Mentoring Insights—The Mentor Perspective
Over 40 participants representing 19 countries gathered in Dubai, United Arab Emirates, for IFAC’s Mentoring Insights – The Mentor Perspective workshop on February 17, 2012. The roundtable workshop brought together representatives from countries all over the world, including Australia, Canada, China, India, Kazakhstan, Nigeria, and the UK. Discussions centered around the drivers for undertaking mentoring; the areas in which support is most commonly sought; and the key success factors and challenges based on the experiences of those attending the event. The range of information gathered will be used to inform the PAO Development Committee Mentoring Program, and in particular the mentoring toolkit. Materials from the event and an Event Summary are also available.
PAO Development Committee member Ardiana Bunjaku spoke at the World Bank Centre for Financial Reporting Reform’s Education Community of Practice Workshop “Building Effective Audit Regulation and Education” on February 7-8, 2012, in Vienna, Austria. The workshop’s objective is to contribute to the further development of effective audit regulation and education through REPARIS (The Road to Europe: Program of Accounting Reform and International Strengthening). Ms. Bunjaku, executive director of the Society of Certified Accountants and Auditors of Kosovo, will provide her insights on developing educational resources to support effective audit education.