EVENTS

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VCFO Forum 2015

Vietnam CFO Forum 2015: "Financial Management Faces Current Currency Context"
24 November 2015 Sheraton Saigon Hotel, Ho Chi Minh City, Vietnam

The Vietnam Chief Finance Officers Club (VCFO Club), the International Association of Financial Executives Institutes (IAFEI), the Japan Association of Chief Finance Officers (JACFO) and the Association of Chartered Certified Accountants (ACCA) co-hosted the Vietnam CFO Forum 2015 / IAFEI Asian Day with the theme, “FINANCIAL MANAGEMENT FACES CURRENT CURRENCY CONTEXT” at the Sheraton Saigon in Ho Chi Minh City on November 24, 2015.

Some 250 participants attended the Forum featuring timely topics affecting the finance executives. The Forum opened with a speech from the IAFEI Advisory Council Chair, Dr. Conchita L. Manabat. The coverage of the forum included –

  • Asia & Vietnam Economic Outlook for 2016 delivered by Mr. Nguyen Xuan Thanh, Director, Fulbright Economics Teaching Program
  • Are You Prepared for Exchange Rate Fluctuation? by Ms. Josephine Yei, CEO, Saigon Bank Berjaya Securities
  • Corporate Management Models for Profitability and Substance by Mr. Tran Xuan Nam, CFO, Saigon Paper Corporation
  • The CFO’s Role in Business Development Strategy by Mr. Benjamin Pwee, Managing Director, E-Deo Asia
  • “Smart Finance Function in Today’s Complex World by Mr. Joseph Alfred, Head of Policy and Technical, ACCA Singapore

Two panel discussions were held eliciting vibrant exchanges among the participants and the discussants. The two panels were led by Dr. Han Manh Tien, President of VCFO and Dr. Conchita L. Manabat of IAFEI. Mr. Nguyen Ngoc Bach, Director of VCFO delivered the closing speech.

About ten newspapers & magazines, and six television & radio channels had shot news, reports, and interviews on the event. Dozens of other media channels also cited information on the Forum manifesting high interests on the Forum. It was a successful event.

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45th IAFEI World Congress 2015

45th IAFEI World Congress
Innovation: The Quest for Competitiveness
Milano 14-16 October 2015

Improving companies’ competitiveness through their capacity to innovate. This was the central theme of the 45th IAFEI World Congress organized by Associazione Nazionale Direttori Amministrativi e Finanziari (ANDAF) in Milan, Italy from 14-16 October 2015. The Works of the Congress can be consulted in full on the ANDAF Website.

(Dr. Conchita Manabat was the roundtable moderator for the technical session of IAFEI’s IFRS Committee. The discussion was summarized in the article below.)

Developments in the IFRS

How do the IFRS meet the expectations of investors and of the financial community? This was discussed by the Chairman of the IAFEI Advisory Council Conchita Manabat, Vincent De La Bachelerie (Partner EY), Amaro Luiz de Oliveira Gomes (IASB Board Member) and Orazio Vagnotti (Partner KPMG). Vincent De La Bachelerie raised several questions: how to best represent financial performance? What information is relevant and what is not in drawing up these standards? «The challenge is to keep responding to the needs of investors,» concluded De La Bachelerie. For Gomes, the changes that have been taking place in recent years will influence the world of business and future finance and, therefore, also its standards. In this regard, Gomes noted that many people have accused the IASB of taking an interest in studying financial instruments only after the economic crisis of 2008, but Gomes refuted this. With the crisis there was simply an increase in the need on the part of financial administrators to have more detailed data and guidelines. This has led to the creation of new standards and an improvement in research studies and the classification of financial instruments. «The IFRS were introduced in 2005, 10 years have gone by. What impact have the IFRS had over this time?» Orazio Vagnotti started his contribution by raising this question. For the Partner from KPMG the results are certainly positive: company interaction has increased and improved, countries have adopted the same standards and this has facilitated M&A work, transparency, investments and commercial transactions.

- Taken from the article by Paolo Bertoli on the 45th IAFEI World Congress featured in the 31st Issue of the IAFEI Quarterly

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44th IAFEI World Congress

44th IAFEI World Congress
Global Recovery Amidst Reforms
Manila, Philippines 16-17 October 2014

The Financial Executives Institute of the Philippines (FINEX) hosted the IAFEI World Congress for the 4th time at the Makati Shangri-la Hotel, Manila Philippines. The congress was well attended with about 300 delegates from FINEX and 34 foreign delegates from Canada, Chinese Taiwan, France, Germany, Italy, Japan, Mexico, Russia and Vietnam.

OCTOBER 15 - IAFEI MEETINGS, TOUR OF COCONUT PALACE AND WELCOME COCKTAILS

The IAFEI Executive Committee meeting was held in the morning of October 15 and this was followed by the Board of Directors Meeting during lunch and onwards.

After the meeting, the foreign delegates together with some members of the FINEX Board and organizing committee went to the Coconut Palace, the official residence of the Vice President of the Philippines, Jejomar Binay. They were given a tour of the palace.

The group proceeded to the Bangko Sentral ng Pilipinas (BSP) or Central Bank where the welcome cocktail was held. The group went around the Metropolitan Museum to view the classical gold and pottery collection from pre-colonial period. The Deputy Governor Diwa Guinigundo of the BSP, the host of the welcome cocktail, greeted the group followed by words of acknowledgment from FINEX President, Edmundo Soriano and IAFEI Chairman Luis Ortiz-Hidalgo.

DAY 1 - OCTOBER 16 - OPENING CEREMONIES, KEYNOTE SPEECH AND TECHNICAL SESSIONS

The 44th IAFEI World Congress was officially opened with the presentation of colors which was a parade of the IAFEI member institutes' banners and the flags of FINEX, IAFEI and the Philippines. After the invocation and the Philippine National Anthem, FINEX President Edmundo Soriano and Chairman Luis Ortiz-Hidalgo welcomed the delegates to the IAFEI World Congress. Ms. Carmen Seriña, the Chairperson of the Organizing Committee, gave an overview of the congress.

The keynote speaker, Philippine Secretary of the Department of Finance, Hon. Cesar Purisima set the pace for the day's activities which consisted of four technical sessions with the following topics: Global Financial/Economic Landscape, Global Asset Allocation Strategy, ASEAN Economic Integration 2015 and Lessons from the European Union and Global CFO Redefined.

GALA NIGHT

In the evening of October 16, the Gala Night was held at the Rizal Ballroom of the Shangri-la Hotel. During the Gala Dinner, the newly elected officers of IAFEI for 2015 were presented. The IAFEI slogan, “The Premier Global Society of the Financial Executives” was launched by Chairman Luis Ortiz-Hidalgo. The recognition of Past IAFEI Chairpersons was also part of the program where Chairman Luis gave medals (specially designed by him) to thank and acknowledge the selfless dedication of IAFEI Past Chairpersons.

After these ceremonies, everyone enjoyed the performance of the UP Concert Chorus which gave the audience non-stop entertainment that really deserved a standing ovation.

DAY 2 - OCTOBER 17 - BREAKFAST WITH ASIAN LEADERS AND MORE TECHNICAL SESSIONS

Asian IAFEI leaders from Chinese Taiwan, Japan, the Philippines and Vietnam met during breakfast on the 2nd day of the World Congress to exchange updates and views on IAFEI matters and to discuss initiatives that will strengthen IAFEI in Asia.

Bangko Sentral ng Pilipinas (BSP) Deputy Governor Diwa Guinigundo opened Day 2 of the World Congress with his keynote speech. This was followed by more technical sessions with the following topics: Ethics, Governance and Anti-Corruption, Climate Change: Economic Risks and Opportunities, Managing Disaster Relief Operations, Business Process Outsourcing:Key Factors for Growth/Success of the BPO Industry in the Philippines (Luncheon Session)

The 44th IAFEI World Congress was officially ended with the closing remarks from the of IAFEI Advisory Council Chairperson, Dr. Conchita Manabat.

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