The Institute of Chartered Accountants of Maldives (CA Maldives) concluded its International Financial Reporting Standards (IFRS) Forum yesterday, held at Villa Nautica.
The one-day forum provided accountants and finance professionals with key insights into IFRS, following the annual meeting of the Asian-Oceanian Standard-Setters Group.
The opening ceremony was attended by Mohamed Hussain Manik, CEO of the Capital Market Development Authority, and Dr Andreas Barckow, Chair of the International Accounting Standards Board (IASB), who was the chief guest. CA Maldives said over 25 representatives from international organisations and senior officials involved in accounting standards also participated, sharing their expertise with attendees.
At the opening, CA Maldives President Mohamed Haleem Abdulla highlighted the importance of preparing internationally recognised financial reports. He noted that while IFRS is often associated with large companies, it is equally vital for a small country like the Maldives, particularly given the nation’s strong tourism connections. Haleem emphasised that state-owned companies must maintain robust systems, as international investors rely on published financial reports when making decisions.
This year’s forum focused on the theme Clarity, Consistency, and Sustainability. CA Maldives said the sessions enabled participants to address current challenges in financial reporting while strengthening connections among industry stakeholders.
The IFRS Forum is held annually by CA Maldives to promote knowledge sharing and professional development among finance and accounting professionals.
