KARACHI, April 6: The First South Asian Accounting Summit would be held in Karachi on April 18-19. The two-day summit has been organized by the Institute of Chartered Accountants of Pakistan (ICAP) in collaboration with the International Accounting Standard Board (IASB) and the South Asian Federation of Accountants (SAFA).

A press release issued by the ICAP on Thursday stated that the summit would bring together senior representatives from global standard setters, major accounting bodies in the South Asian region, principal advisers to the multinational companies and key users and preparers of financial statements.

The conference will be addressed by Sir David Tweedie, Chairman of the IASB, Warren McGregor, member of the IASB, Paul Pacter, project director on accounting for SMEs of the IASB, presidents of SAFA and standard setting professional bodies of India, Pakistan, Bangladesh, Sri Lanka and Nepal.

Topics under discussions would include IFRS update, global challenges and opportunities presented by the IFRS, best practices of the IFRS implementation, accounting for financial instruments, business combinations and non-financial liabilities and accounting framework for SMEs.