16th World Congress of Accountants ends in HK

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 ◆ 16th World Congress of Accountants ends in HK

The 16th World Congress of Accountants ended in Hong Kong on Nov.21 after discussion of nearly 90 topics ranging from hot issues like the integrity and ethics of the accounting profession, to the impact of the knowledge-based economy on the profession.

Federick Ma, secretary for financial services and the treasury of Hong Kong, said at the closing ceremony that the participants will bring home refreshing and stimulating ideas from the congress.

Ma's opinion was echoed by Richard Walsh, an Australian accountant, one of the 5,000 participants.

"It is worth coming to this meeting. The meeting increased the awareness on the integrity of the profession. There will be a greater emphasis on the principles of integrity, independence and codes of ethics rather than implementing rules," said Walsh, a director of the Economic & Financial Management Pty Ltd.

He said he is going to attend the 17th congress, due to be held in Istanbul, Turkey, in five years.

Rene Ricol, president of the International Federation of Accountants, said, "During the congress, we have talked, we have listened, we have exchanged views, and thus we have changed. We will go home stronger, more united and more convinced, more determined to play our full role in the service of the public interest and thus of our economies."