KARACHI, June 9: A World Accounting Summit was held in Dubai from May 28 to June 1, under the patronage of the United Nation Conference of Trade and Development (UNCTAD) and organized by the Institute of International Research (IIR), Middle East.

A press release issued by the Institute of Chartered Accountants of Pakistan (ICAP) on Thursday stated that ICAP President Zafar Iqbal Sobani and Vice-President Asad Ali Shah gave a joint presentation on adoption and implementation of International Accounting Standards (IAS)/International Financial Reporting Standards (IFRS) in SAFA countries.

Thirty-five speakers from around the world, including International Federation of Accountants President Graham Ward and CEO Ian Ball presented their views. The IFAC president and CEO appreciated the role played by ICAP in the region and showed keen interest in visiting Pakistan in February next year, the ICAP press release stated.