The 94th AFA Council Meeting, 27-28 June 2008, Vientiane, Lao PDR

The 94th AFA Council Meeting was held from 27-28 June 2008 at the Don Chan Palace Hotel in Vientiane, Lao PDR. The meeting was attended by representatives of its Primary Members from Brunei, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam. Representatives of it Associate members who attended the meeting are ACCA, ICAA and CPA Australia.

The meeting discussed its AFA Strategic and Operational Plan for 2008-2011. Member bodies generally supported in principle the said plan and gave their initial views on how to realize the objectives laid out in the plan. Member of the meeting also mooted the idea on how further projects could be incorporated into the plan as well as the representation of AFA views on issues such as copyright and royalty on IFRS.

Other issues discussed during the meeting include the AFA communication channel, train the trainer programme by PICPA, IFAC Statement of Membership Obligations (SMOs) for AFA members who are non-IFAC member and SMO 1 on Quality Assurance. Also discussed was SMO 5 on Public Sector Accounting Standard where IAI informed the meeting that it will jointly organise a Public Sector Conference with CPA Australia on 23 July 2008. In addition, the meeting took note of the IFAC Policy Statements on Regional

Organisations and Accountancy Groupings.
The meeting was also briefed by FAP on the outcomes of its seminar on IFRS for SME held in Bangkok in May 2008. The event was sponsored by the World Bank and attended by AFA members.

Finally, Indonesia presented the report of the 15th AFA Conference which was held from 11-12 December 2007 in Jakarta, Indonesia which carried the theme “The Dynamic Role of Accounting in Corporate Governance and Sustainability”.