KARACHI,(Pakistan Point News - APP - 03rd Nov, 2016 ) : The Institute of Cost and Management Accountants of Pakistan (ICMAP) is participating in the SAFA events from November 3-5 in Colombo, Sri Lanka. An ICMAP official said here on Thursday that the SAFA events at Sri Lanka includes a Conference which is initiated by SAFA's Committee on Governmental and Public Sector Enterprises Accounting. This conference is being held in collaboration with the World Bank in line with their objectives of conducting `Regional Seminar Series on Enhancing Public Financial Reporting to Promote Growth in SAR'.
This is the first edition of Implementation of IPSAS and Path to Accrual Accounting. It was pointed out that currently, Pakistan is holding the chairmanship of SAFA Committee, which initiated this conference. Mohammad Iqbal Ghori, Chairman, SAFA Committee on Governmental and Public Sector Enterprises Accounting, is also the President of Institute of Cost and Management Accountants of Pakistan. Ghori will deliver opening remarks and participate as panelist on the occasion with the representatives of the World Bank and International Federation of Accountants (IFAC).
ICMAP statement pointed out that the rare achievement of any SAFA Committee to organize a world level conference is a credit goes to Ghori for his leadership at SAFA level. SAFA has permanent secretariat at India whereas it has various Committees working in different areas. The initiative of SAFA Committee on Governmental and Public Sector Enterprises Accounting is commendable and it is an honor both for Pakistan and the professional institution of ICMA Pakistan where he represent it as President.
The objective of the Conference is to influence and aware the policy makers and other stakeholders on the usefulness of robust accounting and comprehensive financial reporting for economic and fiscal management, transparency and accountability by assessing the level of implementation of international public sector accounting standards in SAR; ascertaining opportunities and challenges for enhancing the financial reporting environment in SAR; and delineating the impact of gaps in financial reporting on the SAR economy.