Who thought accounting could be so interesting? The overwhelming response to the World Accounting Summit in Dubai in May has prompted the organisers to explore expanding the event – and holding it twice a year!
A comprehensive report on the objectives achieved by the 2006 summit in May was finalised this week by organisers IIR Middle East. Leading experts attending the prestigious annual event called for the adoption of International Financial Reporting Standards (IFRS) in the region, and more concrete action from Middle East governments to encourage implementation by the business community.
Delegates also recommended that global standards setters like the International Accounting Standards Board and the Association of Certified Chartered Accountants accommodate regional and cultural differences in their rules, and take into consideration some of the more advanced reporting standards from the Middle East.
IIR’s Conference Director, Agata Pawlik, said lessons from the 2006 summit would be used to develop the agenda for next year’s event, which will also be held in Dubai. “The interaction at the event and the subsequent workshops was extremely productive, and the discussions had a positive impact on bridging the gap between local reporting standards and IFRS. Some of the workshops had more than 100 attendees, and there were many international speakers, this year also from a number of Asian countries.”
Held in Dubai from May 27-31, the World Accounting Summit saw delegates share new perspectives on accounting management and industry updates, along with local and international case studies on the successful implementation of IFRS, the new global standard for accounting practice.
Regional and international heads of finance, standards setters and regulators, heads of accounting and administration, finance and information systems managers, and chartered accountants attended the summit. The event included industry-specific IFRS briefings and four interactive workshops.
Pawlik added that the summit could be held twice a year in future to meet the rapidly growing demand for professional guidance on IFRS implementation, and to offer a more diverse selection of speakers and workshops.
“For next year we will try to make more small workshops and discussion forums - and bring in more international speakers, especially from emerging markets like China.”
About the World Accounting Summit
The World Accounting Summit is an international annual gathering in the Middle East, senior representatives from the global standards setters, the major accounting associations worldwide, the principal advisers to multinational companies as well as key users and perpares of financial statements. This event seeks to aid finance professionals in their efforts to apply IFRS, improve financial reporting and enhance corporate governance.
