Mongolian accountants traveled
to Jakarta, Indonesia for a two-day conference on responsible corporate
financial practices. The conference ended on Wednesday.
Accountants from Mongolia met
with those from other nation during the 15th conference of the ASEAN
Federation of Accountants.
The focus of the conference
was two-fold; solving corporate mismanagement problems in Southeast
Asian countries and creating a single accounting system for businesses
throughout the region.
"Implementing good corporate
governance, especially in financial reports, requires commitment, focus
and effort from all stakeholders including management, employees, regulators
and accountants," Suyatno Harun told the Jakarta Post.
Djoko Susanto of the ASEAN
Free Trade Area council told the Jakarta Post that besides solving business
mismanagement, corporate governance would also help members when ASEAN
implemented its free trade arrangement in 2015.
"The ASEAN Free Trade
Area (AFTA) arrangement requires companies in all countries to be ready
for regional trade standardization in management and accounting ...
so each country can conduct business under the same understanding,"
said Djoko.
"The different formats
among countries has been a major challenge for ASEAN, and we must fix
it through discussion."
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