CASL hosts Asian-Oceanian Standard-Setters Group meeting

The annual meeting of the regional accounting grouping, the Asian-Oceanian Standard-Setters Group (AOSSG) hosted by the Institute of Chartered Accountants of Sri Lanka was held in Colombo recently. The representatives of 26 regional bodies were present.

CA Sri Lanka President Sujeewa Rajapakse said it was important for countries to converge with the International Financial Reporting Standards while ensuring that all stakeholders are duly educated on the convergence.

He said professionals have to play an important role to help achieve the country's development goals.

The meeting included several side events.

Minister of External Affairs G L Peiris, Central Bank Governor Ajith Nivard Cabraal Chairman, International Accounting Standards Board, Hans Hoogervorst, Chairman, AOSSG, Kevin Stevenson and a large number of representatives of accounting bodies from across the region were present.

Clement Chan was chosen as the new chairman of the group. Rajapakse said that during the past two years, apart from the AOSSG meeting, CA Sri Lanka was also privileged to host a number of regional events.