AFA 24 Conference: Step forward for green economy and transparent governance in the ASEAN region

The 24th ASEAN Federation of Accountants (AFA 24) Conference officially took place on the morning of October 30 at the National Convention Center (Hanoi) with the theme “Green Accounting and Finance - Shaping a Sustainable Future”, gathering experts, leaders, and businesses in the fields of accounting, auditing, and finance in the region and internationally. This is a particularly meaningful event as Vietnam holds the role of Chair of the ASEAN Federation of Accountants for the 2024-2025 term.

Scene of the AFA President handover ceremony. Photo: Phan Phuong/VNA

AFA affirms its role of engagement and leadership

In his opening speech, Professor, Dr. Doan Xuan Tien - President of the Southeast Asian Federation of Accountants, President of the Vietnam Association of Accountants and Auditors emphasized that the 24th AFA Conference not only has special significance for the regional accounting and auditing community, but is also an opportunity to review the outstanding cooperation achievements of the Federation in the past time, and at the same time, orient the upcoming development path.

In the 2024-2025 term, with the support and companionship of member countries, in its role as AFA Chair, Vietnam has implemented many initiatives and programs to promote the development of the accounting and auditing industry in the ASEAN region. The results achieved not only contribute to improving the professional capacity of the professional community, but also create a solid foundation for sustainable cooperation and connection between member countries.

In the last term, AFA has made remarkable progress in harmonizing regional accounting and auditing standards. The close coordination between member professional organizations has helped to form a unified and more transparent standards platform, contributing to strengthening the confidence of businesses and investors.

In particular, in the context of the global shift towards sustainable development, AFA has actively promoted the application of environmental, social and governance standards. The Federation encourages businesses in the region to conduct sustainability reporting, thereby ensuring that business activities not only bring economic benefits but also contribute positively to the environment and the community.

The ideas and initiatives presented at this forum will be an important foundation for practical actions in the future, contributing to the improvement of accounting and auditing policies and standards in line with the trend of green and sustainable development. The message “Green action, sustainable development” that the forum brings is a strong call to the professional community to innovate thinking, towards the goal of long-term and responsible development.

Expressing his deep gratitude to ASEAN member countries, professional organizations and the regional accounting and auditing community for always supporting and accompanying Vietnam, Professor, Dr. Doan Xuan Tien affirmed that it is the spirit of solidarity and commitment to close cooperation among members that has helped AFA overcome many challenges and achieve impressive results in the past time. He also congratulated Indonesia, the country that will assume the role of AFA President for the 2026-2027 term; expressing his belief that Indonesia will continue to promote the achievements it has achieved, lead the Federation to develop more strongly, and contribute positively to the common prosperity of the ASEAN region.

Need for a feasible roadmap to promote transparency and capital flows in ASEAN

Mr. Le Tan Can, Deputy Minister of Finance, spoke at the ceremony. Photo: Phan Phuong/VNA

Speaking at the ASEAN Federation of Accountants Leadership Transfer Ceremony and the 24th AFA Professional Forum, Deputy Minister of Finance Le Tan Can affirmed: Honesty and transparency of information is the foundation of trust, thereby ensuring that capital flows operate in the right direction, on the right target, effectively serving sustainable development. Vietnam always accompanies ASEAN and the international community on the journey of green development, comprehensive growth and transparent governance.

According to the Deputy Minister, the Vietnamese Government considers the application of international standards as an important foundation for building a transparent and healthy capital market, enhancing national competitiveness; supports the harmonization of accounting and auditing standards in the region, ensuring flexibility, suitability with the development level and actual conditions of each ASEAN country.

To realize the goal of sustainable development, Deputy Minister Le Tan Can proposed that the 24th AFA Conference agree on a feasible implementation roadmap, starting with core and easy-to-apply requirements. Along with that is the capacity building of the accounting and auditing team, building an effective data interconnection system, ensuring transparency, reliability and efficiency in the allocation of green capital.

Emphasizing the role of digital transformation, digital economy and digital society, in which the application of cloud computing technology needs to be encouraged, the Deputy Minister suggested that AFA and its partners consider a controlled testing mechanism to evaluate ESG data, standardize information reconciliation, and narrow the capacity gap, especially for small and medium enterprises.

Sustainable development is only truly meaningful when “no one is left behind”, so it is necessary to pay specific attention to small businesses, startups and the agricultural and rural areas through simple, low-cost guidelines that still ensure standards and information quality. The Deputy Minister called for encouraging the participation of the younger generation, promoting diversity and equality so that the green economy and digital economy become the driving force for innovation and creativity for the future.

Deputy Minister Le Tan Can believes that with the wisdom, experience and commitment of the regional accounting and auditing community, along with the support of management agencies, businesses and development partners, the 24th AFA Conference will propose practical solutions and build a clear roadmap, contributing to promoting the "greening" of the ASEAN economy, for people, for the planet, for prosperity, for partners and for peace.

After the handover ceremony of the ASEAN Federation of Accountants Chairmanship from Vietnam (term 2024-2025) to Indonesia (term 2026-2027), the Conference officially took place with 3 discussion sessions, focusing on strategic contents such as: Sustainability accounting and reporting - the foundation for green finance; Green finance models and practices; Training, technology and sustainable future; gathering leading prestigious experts in the region and internationally.

Source: https://baotintuc.vn/thoi-su/hoi-nghi-afa-24-buoc-tien-cho-kinh-te-xanh-va-quan-tri-minh-bach-khu-vuc-asean-20251030122131574.htm