AFA 24 – ASEAN Accounting Cooperation Forum for a Transparent and Sustainable Future

(Chinhphu.vn) - With the theme "Green accounting and finance towards sustainable development", the 24th AFA Conference opened on October 30 in Hanoi, bringing together representatives of ASEAN professional associations, international organizations and businesses to discuss orientations for the accounting and auditing profession in the new era.

The 24th AFA Conference opened with the theme "Green accounting and finance towards sustainable development" - Photo: VGP/HT

Affirming Vietnam's position in the ASEAN accounting community

The 24th ASEAN Federation of Accountants (AFA 24) Conference is a major regional event, marking Vietnam’s chairmanship of the Federation for the 2024-2025 term. This is an opportunity for professional associations, international organizations and businesses to discuss and propose strategic directions to promote the accounting and auditing profession in the ASEAN region in the context of integration and green transformation.

In his opening speech, Prof. Dr. Doan Xuan Tien, President of the ASEAN Federation of Accountants (AFA), and also President of the Vietnam Association of Accountants and Auditors (VAA), said that the conference will review the progress of the AFA Action Plan 2025, and discuss and approve the AFA Action Plan and Budget 2026 - two important documents shaping the Federation's sustainable development strategy in the coming time.

A notable highlight of the program was the Signing Ceremony of the Memorandum of Agreement on the Mentorship Program between MICPA and ISCA, demonstrating the spirit of cross-border cooperation and mutual support within the ASEAN professional community.

This conference will also discuss AFA's participation in IFAC Connect 2025 and proceed to the adoption of the AFA Board of Directors for the 2026–2027 term, marking an important transition to the next generation of leaders.

Speaking at the opening ceremony, Deputy Minister of Finance Le Tan Can outlined five key orientations. First, Vietnam is determined to pursue sustainable development goals, accelerating the transition to environmentally friendly production and consumption. The Government considers the application of standards and ensuring the quality of information as the basis for building a transparent, healthy and competitive capital market. Second, Vietnam highly values ​​the role of AFA and its member organizations in promoting standards, professional ethics and connecting regional knowledge.

Third, the conference was asked to agree on a feasible implementation roadmap, starting from core, easy-to-apply requirements. At the same time, it is necessary to improve the capacity of the accounting team and build an interconnected data system, ensuring transparency and efficiency in corporate governance. Fourth, Vietnam promotes digital government, digital economy and digital society, encourages the application of AI, blockchain, cloud computing in accounting - auditing and sustainability reporting, while attaching importance to data security and technology ethics. Fifth, sustainable development is only meaningful when no one is left behind, so it is necessary to support small businesses, startups and the agricultural - rural areas through simple, low-cost but still standard guidance.

The international professional community moves towards transparency standards

Sharing at the conference, Mr. Jean Bouquot, President of the International Federation of Accountants (IFAC), said that IFAC is promoting a global dialogue on the role of the accounting profession in promoting green transformation, especially through the use of expanded corporate reporting and the implementation of ISSA 5000 standards. This is considered an important tool to provide reliable non-financial information, supporting investors and lending institutions to make effective decisions.

“We need to have a clear voice on how society best delivers sustainable transformation, and share experiences, good practices and resources within the profession,” he said.

Within the framework of the AFA 24 Conference, MISA Joint Stock Company was the only Vietnamese IT enterprise selected to present and share its experience in applying technology in accounting and strategic thinking to promote green transformation in the ASEAN region.

Experts and business representatives discuss at the discussion sessions - Photo: VGP/HT

At the "Training and Technology" seminar, Mr. Le Hong Quang, General Director of MISA, emphasized that accounting and finance experts today do not only record data but also become "strategic architects" for sustainable development.

Mr. Le Hong Quang pointed out 3 core competencies that the team of finance and accounting experts need to have in the new era. The first is the mindset of a technology architect, knowing how to design smart data systems, utilizing AI and Blockchain to automate and make sustainability reports transparent. The second is the ability to tell stories with data, turning dry numbers into meaningful and convincing business stories for investors. The third is the ability to "translate" global languages, understanding and applying international standards such as GRI, IFRS S1, S2 to help businesses speak the same language with the global market.

According to Mr. Le Hong Quang, AI and Blockchain are two key technologies that help the accounting and finance industry operate effectively, prevent fraud and ensure traceability of ESG data. MISA has deployed MISA AMIS Accounting and MISA meInvoice solutions to help digitize all documents, save costs, and develop MISA Lending - a platform connecting businesses with green capital.

"The accounting and finance industry is entering a new phase, where sustainable thinking and smart technology will determine who leads," affirmed Mr. Le Hong Quang.

Mr. Minh

Source: https://baochinhphu.vn/afa-24-dien-dan-hop-tac-ke-toan-asean-vi-tuong-lai-minh-bach-ben-vung-102251030175545866.htm