IFAC Discusses Establishing Accounting Standards
10 Nov 2003The Governmental Sector Committee of the International Federation of Accountants (IFAC) discussed –at its meetings in Berlin convened November 5-7 – putting in place guidelines for governmental accounting standards and governmental budget standards, in addition to setting guidelines for governmental bodies in charge of establishing accounting standards.
One of the new topics discussed by the IFAC board is “Accounting related to social responsibility” and “Accounting related to development aids”.
Participating in the meetings were representatives from the World Bank, the International Monetary Fund, the UN, the UN Developmental Program and the Asian Bank for Development.
The chairman of the Arab Society of Certified Accountants (ASCA), Mr. Talal Abu-Ghazaleh, participated in these meetings as a representative of the Arab accounting profession.
He is the only Arab person who attended these meetings.
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