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Key challenges and opportunities for CFOs

04 Apr 2007

In March, ACCA organised a highly-successful, two-day conference in Karachi, Pakistan to explore the knowledge and capabilities required to nurture the complete and balanced CFO. The conference was warmly welcomed by Mr Omar Ayub Khan, minister of state for finance, Government of Pakistan, who said: 'This conference, arranged by ACCA, is an event that the Ministry deems to be of great value in getting equipped for the challenges facing the accounting and finance community today.'

An international panel of distinguished speakers from ACCA, Government and business shared their views and expertise on a wide range of subjects, including: the impact of Basel II and global regulation on the banking sector; the adoption of XBRL and related standards development; narrative reporting; money laundering; and sustainability reporting.

In his key note address Dennis Yeates, ACCA President, focused on professional ethics. With ethical decisions not as clear cut as choosing between right and wrong, Yeates contended that this is a significant challenge for CFOs. He argued that, in addition to maintaining their technical competence, professional accountants must attend to the development of appropriate attitudes and behaviours.

The last session of the conference addressed the need to recruit more women in to the accounting profession in Pakistan. Ms Kashmala Tariq, Member National Assembly, who has spearheaded legislative reform to promote gender balance, appreciated ACCA's role as a modern professional accounting body, committed to advocating a role for women in the accounting profession. With young girls in schools and colleges outperforming boys, the prospects for women in the profession in Pakistan are bright.

For more information, contact ACCA Pakistan.