Press Release - AFA Welcomes IFAC’s Initiatives

The ASEAN Federation of Accountants (AFA) welcomes the effort of the International Federation of Accountants (IFAC) in developing a comprehensive framework in helping accountants to integrate a sustainable way of thinking and working in all business process and the additional guidance provided in improving governance in organisations.

AFA President, Pengiran Haji Moksin says “Sustainability is an important issue that needs to be addressed by developing countries and the framework issued by IFAC could assist professional accountants in the ASEAN region to bring the matter to be debated and implemented at the appropriate levels in organisations in this region. The issuance of the guidance on how governance could be evaluated and improved is very timely, given the economic conditions of countries around the world”.

IFAC recently issued two key documents through its Professional Accountants in Business Committee. The first is the comprehensive Sustainability Framework which illustrates how commitment to sustainability could further improve an organisation’s products and services, motivate its people, lower its cosy and enhance its reputation. The other guidance is on Evaluating and Improving Governance in Organisations which brings together globally recognised and applicable good practices on effective governance into an international benchmark for the accountancy profession.

“The sustainability framework and guidance on governance would be further discussed by AFA member bodies and all opportunities for collaboration in implementing them in the ASEAN region would be further explored” adds Pengiran Moksin.