Welcome to the SAFA IFRS & ISAs Forum 2023, the second technical forum organized by CA Maldives. This prestigious event is designed with a keen focus on significant standards, emerging updates, and the pragmatic application of these regulations, providing an unparalleled wealth of insights and knowledge to both seasoned professionals and aspiring practitioners.

We are proud to announce that this year’s Forum is carried out in collaboration with the esteemed South Asian Federation of Accountants (SAFA). As a prominent organization dedicated to fostering excellence in accounting practices within the region, SAFA’s involvement elevates this forum as a platform for setting the highest standards in the field.

The SAFA IFRS & ISAs Forum of 2023 promises to be a transformative experience for all attendees. Through interactive sessions and engaging discussions, participants will gain invaluable tools to navigate the intricacies of international accounting standards. The forum’s dedication to fostering excellence and sharing expertise is set to shape the future of accounting practices in the Maldives.

Prepare yourself for a remarkable journey of professional development as we gather to explore the latest updates, share insights, and forge meaningful connections within the dynamic realm of financial reporting and auditing. Together, we shall chart a course towards greater excellence in the Maldivian accounting landscape.

In a significant move towards fostering cooperation, the Institute of Chartered Accountants of India (ICAI) and the Institute of Chartered Accountants of the Maldives (CA Maldives) formally signed a Memorandum of Understanding (MoU) on 21st August 2023 during the forum.

The MoU was signed on the second day of the forum, exemplifying the commitment of both institutions to enhancing the accounting profession’s knowledge and professional development. Both ICAI and CA Maldives are esteemed full members of the South Asian Federation of Accountants (SAFA), with ICAI also hosts the Permanent Secretariat of SAFA.

The collaborative MoU seeks to establish a platform for mutual co-operation, aiming at the advancement of Accounting Knowledge, Professional and Intellectual Development, and the progress of their respective members. This dynamic partnership is poised to make a positive impact on the Accounting Profession in both the Maldives and India. The MoU signifies a pivotal step in strengthening bilateral relations.

President of ICAI, CA. Aniket Sunil Talati, expressed his enthusiasm, stating, “Our aim in signing the MoU with CA Maldives is to provide ICAI’s technical support and resources, including technical standards, SOP’s, study materials, and expert faculties for conducting collaborative programs. This will undoubtedly contribute to the development of the accountancy profession in the Maldives.” Furthermore, he added, “ICAI is committed to supporting CA Maldives in its pursuit of membership with the International Federation of Accountants (IFAC).”

Speaking at the event, CA Maldives President, Mr. Hussain Niyazy, who also serves as the Auditor General of the Maldives, shared, “Through this MoU, ICAI is keen on providing CA Maldives with our technical support and resources, including technical standards, study materials, and expert faculties. This support will aid CA Maldives in conducting courses and enhancing the capabilities of its members, thereby playing a pivotal role in the professional growth of the accountancy community in the Maldives.”

The event was graced by His Excellency Shri Munu Mahawar, Hon’ble High
Commissioner of India to the Republic of Maldives, who expressed his
satisfaction, saying, “The strengthened bilateral relations between India and Maldives are indeed heartening. The collaboration between the two accounting institutes further fortifies this relationship, benefiting the accounting community on both ends.”