ACM speaks at World Bank IFRS Conference

EY ASEAN Financial Accounting Advisory Services (FAAS) Leader and SGV Assurance Partner Aris Malantic participated as a panelist, representing the Philippine Institute of Certified Public Accountants (PICPA), in the recent World Bank IFRS (International Financial Reporting Standards) Conference, which took place in Vientiane, Lao PDR. Representatives from various accounting organizations all over South East Asia, including PICPA President Atty. Zenaida Alcantara, attended the conference.

Organized by The World Bank in collaboration with the ASEAN Federation of Accountants and the Lao Chamber of Certified Professional Accountants and Auditors, the conference focused on the benefits of IFRS, its implementation across the ASEAN countries, the standards’ link to improved corporate governance, transparency and disclosure by public interest entities, and assistance and support available from the IFRS Foundation. As part of the panelists, ACM provided an overview of the progress of IFRS adoption in the Philippines. He also shared the key lessons learned in the adoption that can be useful to other developing countries preparing for initial adoption of iFRS.