The Institute of Chartered Accountants of the Maldives (CA Maldives) has concluded its annual International Financial Reporting Standards (IFRS) Forum at the Villa Nautica resort. Convened immediately after the Asian-Oceanian Standard-Setters Group’s annual meeting, the forum was intended to strengthen IFRS expertise among accountants and finance professionals.
More than 200 participants from the financial sector attended. Mohamed Hussain Manik, Chief Executive Officer of the Capital Market Development Authority, opened the sessions. Dr Andreas Barckow, Chair of the International Accounting Standards Board (IASB), joined as a special guest, accompanied by IASB technical experts and over 25 senior officials from international standard-setting bodies.
Organised under the theme 'Clarity, Consistency, and Sustainability', the programme focused on preparing participants to meet modern financial challenges and to address persistent reporting issues.
CA Maldives President Mohamed Haleem Abdulla highlighted the importance of producing financial reports that conform to international standards. He noted that although IFRS is often associated with large corporations, its relevance is equally critical for smaller nations such as the Maldives. With the economy closely tied to tourism, he said compliance must be treated as a priority. Abdulla added that government-owned companies must also maintain strong reporting systems, stressing that international partners assess trust in Maldivian businesses through the transparency of their publicly disclosed financial statements.