President of the Institute of Chartered Accountants of the Maldives (CA Maldives) Mohamed Haleem Abdulla has stated that the country's membership in the International Federation of Accountants (IFAC) marks a landmark achievement in the history of the Maldives' accounting profession. The letter of membership was presented to CA Maldives' President Haleem and the institution's Auditor General Hussain Niyaz, at the IFAC Council's annual general meeting 2024, held in Paris, France.
Following the presentation of the membership letter, Haleem stated that Maldives securing the IFAC membership, showcases the dedicated efforts of CA Maldives, to build a strengthened financial system. It can be noted that this historic milestone, achieved in just four years since the establishment of CA Maldives, is proof that the accounting profession in the Maldives is flourishing. This accomplishment will increase the number of opportunities the Maldives gets to represent itself globally, in the accounting field. CA Maldives has reaffirmed its commitment to enhance and promote accounting in the Maldives and ensuring strengthening the field to meet global standards.
Established in 1997, IFAC is an international institution which oversees and manages operations of the accounting field. Representing over three million accountants, the IFAC is responsible to enhance the sector, by advancing, adopting and implementing international accounting standards. It also calls onto prioritising the public interest, hence ensuring transparency and accountability during financial reporting.