Two international accounting forums to be held in Maldives

The Institute of Chartered Accountants of Maldives (CA Maldives) have arranged two large international accounting forums to be held in Maldives this month.

During the Tax Forum held at Meerumaa Hall today, organized by CA Maldives and Maldives Inland Revenue Authority (MIRA), CA Maldives President Mohamed Haleem Abdulla stated that one of the international forums to be held this month is the "Annual Meeting of the Asian-Oceanic Standard-Setters Group."

The forum will be held from 26th November to 28th November at the Villa Nautica Maldives Resort. Agencies that hail from Asian and Oceanic countries that dictate the rules and regulations of the accounting field will come together to discuss accounting changes on an international scale and what should be prioritized at regional level.

Once that forum concludes, the Annual International Financial Reporting Standards (IFRS) forum will begin on 29th November. International leaders and agencies that decide accounting standards will be attending the forum.

As per Haleem, the chair of the International Accounting Standard Board (IASB) will attend the forum and give a speech. 

Seniors from the IASB will also attend the forum, with them conducting a session where they share technical information. 

"This will be a time to remember in the history of Maldives' accounting field. This is the first time international standard setters, in an official capacity, will attend a forum organized by a Maldivian institution on such a scale," said Haleem. 

The Tax Forum that was conducted today by CA Maldives and MIRA is the first of its kind in Maldives, with a 150 attendees appearing at the forum at Meerumaa Hall.

In a time where the digitalization of Maldives is moving at a quickened pace, the slogan of the forum is "Shaping a Smarter Tech Future Together."

The gold sponsors for the Tax Forum are Maldives Islamic Bank (MIB), STO and Allied Insurance.

The forum, aimed at the tax accounting and audit fields, was attended by Maldivian tax policy makers and international experts. As was said in the forum by CA Maldives, tax policy makers and tax professionals need to sit at the same table and hold many discussions in order to find solutions to tax related challenges.