Visit of delegation from IFAC on July 29, 2011

A delegation from IFAC consisting of Mr. Goran Tidstorm, IFAC President and Mr. Ian Ball, IFAC Chief Executive visited ICAI on July 29, 2011 with a view to have a global perspective and present IFAC view point on key emerging issues, . The deliberations inter alia emphasized on:

  • High Quality Technical Standards in IFRS
  • Facilitating the convergence of national and international auditing and assurance standards
  • Promoting the value of professional accountants
  • Setting up of standards on education, practical experience and tests of professional competence;
  • Promotion of IPSAS and Government Accounting
  • Development of accounting profession in developing Nations
  • Adoption of high standards of ethics for members and promotion of good ethical practices globally

The delegation also had meetings with Ministry of Finance, Ministry of Corporate Affairs; Office of Comptroller & Auditor General, Ministry of Commerce & Industry, Controller General of Accounts.