Two world leaders in the field of international accounting standards will be in Sri Lanka in November 2009 for a top level regional meeting to be hosted by the Institute of Chartered Accountants of Sri Lanka (ICASL), the country’s apex national accountancy body.
Professor Sir David Tweedie, Chairman of the International Accounting Standards Board (IASB) and Board Member, Warren McGregor will hear presentations in Colombo from the National Accounting Standard setters of India, Pakistan, Bangladesh, Nepal and Sri Lanka at this day-long meeting on Tuesday November 24, 2009, the Institute said in a statement.
These presentations will focus on the current status of each country’s effort to adopt International Accounting Standards (IASs) and International Financial Reporting Standards (IFRSs), the challenges they face and the steps taken by countries affiliated to the South Asian Federation of Accountants (SAFA) for adoption of these International Standards.
“The South Asian Regional Standard-Setters Meeting is one of the most important events for our part of the world in the process of moving to a single set of global accounting standards,” ICASL President, Mr. Nishan Fernando said.
He said the meeting would help the International Accounting Standards Board to evaluate the progress made by countries in the region in moving to international accounting standards and generate valuable discussion on technical and other issues faced by countries in the region.
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