ASEAN Federation Of Accountants (AFA) leadership holds dialogue with International Federation Of Accountants Compliance Advisory Panel (IFAC CAP)

The AFA President, Pengiran Haji Moksin (2nd from left) during his presentation to IFAC CAP. Seated at far left is IFAC CAP Head, Mr Robert Mednick

On 19 January 2009, the AFA leadership participated in a dialogue with IFAC Compliance Advisory Panel (CAP)in Bangkok, Thailand. The dialogue was initiated upon the invitation of the IFAC CAP which was holding its meeting at the Four Season’s Hotel in Bangkok, Thailand from 19 to 20 January 2009.

The IFAC CAP is entrusted to oversee the implementation and operation of the IFAC Member Body Compliance Program. The CAP is also responsible for making recommendations to the IFAC Board about the membership application process including recommending new applicants for membership.

At the dialogue, The AFA leadership was represented by the AFA President, Pengiran Haji Moksin and Vice-President, Nik Mohd Hasyudeen while the IFAC CAP was headed by Mr Robert Mednick.

During the dialogue, the AFA President gave a short presentation on the history and background of AFA, its past activities in 2008, its four year Strategic and Operational plan as well as its Operational Plan and planned activities for 2009. The IFAC CAP were especially interested in AFA’s strategic objectives and the specific steps for AFA to achieve these objectives especially in terms of supporting the capacity building of its member institutes and their efforts to comply with IFAC SMOs.

Subsequent to the presentation, Mr Mednick congratulated AFA for their initiatives so far and hopes that AFA will achieve all the targets they have set for the coming year. He also assures AFA that the IFAC CAP will assist AFA, in any manner permitted to them, to support AFA in achieving their objectives.

Both parties also discussed on how both AFA and IFAC CAP could work closely in the future to support IFAC’s mission and vision. Among the possible areas of cooperation discussed were on outreach programme to get AFA’s non IFAC member bodies to join IFAC, cooperation on compliance activities on IFAC’s Statements on Membership Obligations (SMO) in the region as well on the area of accountancy education.