To provide an organisation for ASEAN Accountants for the further advancement of the status of the profession in the region with the view to establishing an ASEAN philosophy on the accounting profession.
On 26 October 2014, the Lao Institute of Certified Accountants (LICPA) successfully hosted the 116th AFA Council Meeting in the Lao Plaza Hotel, Vientiane, Lao PDR. The 116th AFA Council Meeting was attended by all representative of the ten member bodies and four associate members, with a special appearance by World Bank representative, Mr. Frederick Yangkey. The strategic meeting further discussed AFA top three priorities for 2014 and 2015 of 1) closing the gaps between member bodies and supporting member bodies to become members of IFAC, 2) articulating value proposition of AFA to its members and stakholders, and 3) obtaining formal recognition as IFAC Acknowledged Accountancy Grouping. The next AFA Council Meeting will be held hosted by the Malaysian Institute of Accountants in January 2015.
In conjunction with the 116th AFA Council Meeting, LICPA together with ACCA and AFA co-hosted a join conference on “Strengthening the Accountancy Profession with Global and Regional Integration”. This conference addresses the impact of global accounting standards on economic development, and how professional accounting bodies can support the ASEAN Economic Community (AEC) 2015. To support the theme, LICPA invited a number of qualified speakers, among others from, IFAC, the World Bank and a representatives of the AFA member bodies, each sharing best practices and experience on topics that are relevant in the region.