INTRODUCTION TO MAF

Maldives Accountants Forum

Auditing profession is critical to the development and wellbeing of national economy. In this global economy, the need for reliable and high quality financial reporting as well as assurance provided by the auditors on them cannot be overstated. They are the keys to improving financial transparency, management accountability, good governance as well as the main source of investor confidence and the sure way to achieving financial prudence.


As a nation, we are in need of promoting auditing and accountancy profession to the next level to cater to the emerging developmental and investment needs of the country. As the regulator, AGO is taking several measures to promote this profession. Some of the ongoing initiatives include the issuance of license to the auditors, conducting of quality control reviews and CPD programs for the licensed auditors. A draft bill to form first ever professional accountancy body in the Maldives has also been forwarded to the Attorney General. This is however a complex process with multiple stakeholders and vested interests. Thus a national platform to discuss a way forward is a critical step in our progress.


Maldives Accountants Forum is meant to hear from the regulators and business community, in order to enable the accountants and auditor to better attune their work to the needs the of industry stakeholders and to provide a capacity development opportunity for the professionals while creating greater understanding and stronger bond among all concerned.



Needs / Problems

Auditing began in Maldives about 67 years ago, with just one man and one desk. Ever since the AGO and its predecessors have taken the initiatives to develop accounting and auditing profession in the Republic of Maldives. Firstly, it was through designing and delivery of a local program to build technicians to undertake bookkeeping and audit work in public sector entities. Later, the focus was shifted to introducing a regionally accredited accounting qualification to Maldives. Lastly, the AGO started sponsoring candidates to study for professional qualification of the Association of Chartered Certified Accountants (ACCA) abroad. Today, ACCA and several other academic qualifications are offered through Maldives National University and colleges. AGO has also licensed more than forty local parties to provide auditing and assurance services. However, these auditors and accountants need a regulatory body, and an active voice to promote their interest and to provide opportunities for them locally and abroad. In order to build a world class auditing and accounting industry, we still have a long way to go. The formation of professional accountancy body, in the name of The Institute of Chartered Accountants of Maldives would be the most important milestone. At this juncture, we need to share this with the business community and regulators in order to develop a positive agenda for change. Time has come for the regulators and policy makers and professionals to sit with business leaders to identify issues and priorities and a way forward, placing the needs and expectations of the business community at the heart of this initiative.



Goals / Objectives

  • To promote auditors and accountants and to gain confidence of the industry for their work
  • To orient the auditors and accountants to the emerging issues and opportunities
  • To hear the concerns and expectation of the business community
  • To share learning, experience and expectations among the key stakeholders
  • To gain insight for making policy decision
  • To provide networking opportunities

Target Audience

  • Government (MoF, MED, MoE/DHE, MMA, CMDA, ACC, PAC)
  • Financial Institutions & Banks
  • Govt. Corporations / SOEs
  • University / Colleges
  • Licensed Auditors / Professional Accountants
  • Private Sector Businesses ( Large companies)
  • Media
THEME

EMBRACING TECHNOLOGY, ENHANCING VALUE



Key benefits of attending the forum

  • This forum will provide the opportunity to share and exchange knowledge and experience with the peers
  • Government institutions and business leaders will express their concerns and highlight risks in today’s professional landscape
  • Participants will gain an understanding of the challenges and opportunities faced by private audit practitioners
  • This platform will create opportunities to address, discuss, and discover solutions for the daily challenges of auditing and accounting
  • This will be a golden opportunity to grow your professional network and contacts to support your role as a professional member
  • Participation fee is free


Vanue & Date

Date Venue Session
27th August 2019 Dharubaaruge Inauguration & Keynotes
28th August 2019 Dharubaaruge Technical Sessions
29th August 2019 Dharubaaruge Technical Sessions


REGISTRATION

Fill the below to participate this year's forum

Registration for Accountants forum 2019 has been closed.


Agenda

Controversial topics of the event

  • 27TH AUGUST 2019
    DAY 1 - DHARUBAARUGE

    • 08:30 - 08:35
      Recitation of the Holy Quran
    • 08:35 - 08:50
      Opening Remark
    • 08:50 - 08:55
      Video Report
    • 08:55 - 09:10
      Chief Guest
    • 09:10 - 09:20
      Chair of PAC
    • 09:20 - 09:50
      Keynote
    • 09:50 - 10:00
      Main Sponsor's Remark
    • 10:00 - 10:30
      Tea Break
    • 10:30 - 11:00
      Emerging Trends – Accounting Profession
    • 11:00 - 11:30
      Industry Expectation
    • 11:30 - 12:00
      Data Analytics for Auditors
    • 12:00 - 13:30
      Lunch Break
    • 13:30 - 14:00
      MMA Economic Overview
    • 14:00 - 14:30
      MoFT Economic Policies
    • 14:30 - 15:30
      Panel Discussion
    • 15:30 - 16:00
      Coffee Break
    • 16:00 - 17:00
      Soft Skills - Learning & Development
    • 17:00 - 17:15
      Vote of thanks
  • 28TH AUGUST 2019
    DAY 2 - DHARUBAARUGE

    • 08:30 - 09:00
      Recitation of the Holy Quran
    • 09:00 - 09:30
      AGO Presentation of Accounting Body, Bill
    • 09:30 - 10:30
      Discussion on way forward
    • 10:30 - 11:00
      Tea Break
    • 11:00 - 11:30
      MED Regulatory Changes
    • 11:30 - 12:00
      MIRA Tax regulations
    • 12:00 - 13:30
      Lunch Break
    • 13:30 - 14:00
      NCIT – IT Security for business continuity
    • 14:00 - 14:30
      Success Story of an SMP - how we are doing!
    • 14:30 - 15:00
      Panel Discussion - SMP Operations (Quality)
    • 15:00 - 15:30
      Coffee Break
    • 15:30 - 16:30
      Conceptual Framework
    • 16:30 - 17:00
      Rapport Relationship building
  • 29TH AUGUST 2019
    DAY 3 - DHARUBAARUGE

    • 08:30 - 09:00
      Recitation of the Holy Quran
    • 09:00 - 09:30
      CFO's Perspective
    • 09:30 - 10:00
      Professional Fund Management
    • 10:00 - 10:30
      Ethics for Accounting Professionals
    • 10:30 - 11:00
      Tea Break
    • 11:00 - 12:00
      Ethics Panel Discussion
    • 12:00 - 13:30
      Lunch Break
    • 13:30 - 15:00
      IFRS 16 (Lease of Resorts - Case Study)
    • 15:00 - 16:30
      IFRS 9
    • 16:30 - 17:00
      Professional Liability
    • 17:00 - 17:30
      Closing


Contact

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Maldives Accountants Forum

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