By NNN,
Kuala Lumpur : The 18th World Congress of Accountants (WCOA) has ended here on a high note with more than 6,000 members of the profession from 134 countries with signicant issues having been resolved and discussed by 183 world-renowned speakers from more than 40 countries.
Among the significant issues which are affecting the accountancy profession discussed at the four-day meeting here are ways of strengthening the accounting professional in the emerging economies, efforts to further enhance the resilience of Islamic finance, integrated
reporting framework and the role of accountants in the future.
Other issues explored included accounting ethics, governance, standards, development of the accounting profession and International Financial Reporting Standards (IFRS) convergence, according to a statement from the Malaysian Institute of Accountants (MIA).
The WVOA 2010, which was jointly organised by the MIA and the International Federation of Accountants (IFAC), closed here Thursday with MIA president Abdul Rahim Abdul Hamid saying it had been part of a journey towards an ambitious end of greater sustainable value through enhanced reporting.
“The Congress discussed issues and possible solutions towards this end. Of significance, two main topics were deeply discussed — the development of integrated sustainable reporting and the impact of Islamic finance as a possible alternative to global financing needs,” he told a media conference after the closing ceremony.
The congress, held under the theme “Accountants: Sustaining Value Creation”, was held in Malaysia for the first time, registered a record-breaking 6,050 delegates.
The MIA also took the initiative to give out 1,000 free entrance passes for students of institutions of higher learning to participate in the 4th plenary session of the Congress on Thursday to enable them to enhance their knowledge on the roles of accountants and gain exposure of the profession.
Abdul Rahim said the MIA was dedicated to moulding and shaping the new breed of
accountants by providing opportunities for lifelong learning in line with its mission of developing and sustaining professional quality and expertise which can meet the most demanding global standards.
As part of MIA’s sustainability efforts, the Institute gave delegates re-useable water bottles in place of plastic water bottles during the Congress. The co-hosts, MIA and IFAC, also provided thumb drives for delegates to download the presentations of the speakers.
Another environmental-friendly initiative undertaken by MIA is to encourage the delegates to use the Express Rail Link from the Kuala Lumpur International Airport to the city centre instead of using taxis to help offset carbon emissions.