Institute of Chartered Accountants Concludes Annual IFRS Forum
CA Maldives concludes annual IFRS forum at Villa Nautica | Photo: CA Maldives
The Institute of Chartered Accountants of the Maldives has concluded its annual International Financial Reporting Standards Forum at the Villa Nautica resort, bringing together accounting and finance professionals to strengthen expertise in global reporting standards.
The forum was held immediately after the Asian-Oceanian Standard-Setters Group’s annual meeting and aimed to enhance understanding of IFRS principles among practitioners. More than 200 participants from across the financial sector took part in the programme.
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The sessions were opened by Mohamed Hussain Manik, Chief Executive Officer of the Capital Market Development Authority. Dr Andreas Barckow, Chair of the International Accounting Standards Board, attended as a special guest alongside IASB technical experts and more than 25 senior officials from international standard-setting organisations.
Organised under the theme Clarity, Consistency, and Sustainability, the forum focused on equipping participants to address modern financial challenges and long-standing reporting issues.
CA Maldives President Mohamed Haleem Abdulla underscored the need for financial reports to align with international standards. He noted that while IFRS is often associated with large corporations, its relevance is equally significant for smaller economies such as the Maldives.
He said the country’s reliance on tourism makes compliance a priority and added that government-owned companies must also maintain robust reporting systems, as international partners assess confidence in Maldivian businesses through the transparency of publicly disclosed financial statements.
