Mr. Fadi Fakih, Executive Board Member, represented the CMA at the Annual World Bank Conference on Public Financial Management. The seminar provided a good opportunity to establish relations with many counterparties in the region, and further strengthen the relationship with the World Bank on issues pertaining to cooperation on accounting and auditing/ financial reporting oversight.
More than 250 high-level policy makers, experts, and stakeholders from the public and private sectors met in Abu Dhabi, between June 10 and 12, 2014, to take part in this Conference. This year’s conference addressed two main topics; Public Financial Management Reform including capacity development and the role of professional accountants as business advisors. Public Financial Management covered many issues including local service delivery, transparency, accounting and reporting, audit, supreme audit institutions and parliamentary oversight and Corporate Financial Reporting including capacity development, adoption of International Financial Reporting Standards, and audit quality assurance, Islamic banking, and finance.