CASL to host conference on Financial Reporting
The Institute of Chartered Accountants of Sri Lanka (CASL) will host
a high-level conference on financial reporting for economic development
this month, which will convene some 150 high-profile regulators, policy
makers, business leaders, academics and professionals from across Asia.
The conference, which will be held from May 19-21, is jointly
organised by the Confederation of Asian and Pacific Accountants (CAPA),
the International Federation of Accountants (IFAC) and the World Bank
and is the first of its kind in Asia.
The conference aims at boosting awareness among regulators and policy
makers in Asia, particularly South Asia, of the role and importance of
accounting and auditing and the entire financial reporting supply chain
in enhancing economic development in the Asian region.
Economic development, in turn, enhances the business climate, boosts
shared prosperity, strengthens public financial management, and enhances
governance and accountability.
The conference is similar in concept to the annual conference held in
the Latin America and Caribbean region titled 'Accounting and
Accountability for Regional Economic Growth.'
The conference will give participants a rare opportunity to consider
the supply chain from a diverse international perspectives while helping
them learn about the latest trends in financial reporting.
The conference will feature keynote addresses, panel discussions and
breakout sessions, and will focus on the financial reporting supply
chain from an Asian perspective, in particular the South Asia region.
Conference topics will evaluate the present challenges and devise
strategies for the future development of financial reporting.
The financial reporting supply chain is a concept that recognises the
large numbers of diverse stakeholders with legitimate interests in
financial reporting standards and practices. It includes standard
setters, preparers of financial reports, executives making decisions
based on them, audit committees, auditors appointed by them, and the
diverse end users who rely on audited financial reports to make informed
decisions.
The supply chain affects small businesses and large corporations,
individual investors, fund managers, credit agencies, regulators and
government policy makers and their development partners hoping to create
a sound investment climate to foster jobs, growth and shared prosperity.
The conference will also provide a platform for participants to exchange
international and regional good practices for strengthening accounting
and auditing practices in their local jurisdictions; further cooperation
and harmonisation of efforts among international, regional and
professional organisations on accounting and auditing practices around
the region; and strengthen relations with key donor organisations and
other important stakeholders.
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