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Accountancy profession in a position to rise to challenges, delegates told

11 Jun 2009

ACCA Singapore's recent Annual Conference brought together a range of experts to provide perspectives on identifying and seizing business opportunities in the current global economic situation, as well as providing innovative business solutions.

The event, which took place on 3 June at the Raffles City Convention Centre, identified:

• the main growth areas and opportunities accountants and finance professionals should target to deliver value to businesses in the current economic climate
• how CFOs should reinvent themselves to respond effectively to the volatile conditions
• how audits should change to deliver more to stakeholders
• how corporate reporting should be developed to provide more value to stakeholders.

The conference featured informative technical sessions, giving delegates an update of all the relevant changes and significant developments in business over the past year.

In her keynote address to delegates, Juthika Ramanathan, chief executive of the Accounting and Corporate Regulatory Authority (ACRA), spoke of the challenges facing businesses in the global downturn: 'The theme today - delivering value in uncertain times - appropriately reflects a key challenge businesses face in the current economic environment. The same can similarly be made of the accountancy profession, how [it] continues to deliver value to business, the wider investor community and the public in its professional work areas during times of stress and uncertainty.'

Ms Ramanathan considered the 'tremendous opportunity' accountants have in taking a leading role in restoring confidence and strengthening Singapore's standing as an international business centre. 'At the heart of this opportunity is an accountant's public value, and the ability for accountants to work cohesively as a profession,' she added.