Remarks ~ Keith Wedlock - Confederation of Asian and Pacific ...

Strengthening Nepal Public Sector Accounting & Auditing
~ Building on Experiences
8 March 2013, Friday
Crowne Plaza Soaltee, Kathmandu, Nepal
OPENING REMARKS
Welcome Address
Keith Wedlock – President, Confederation of Asian and Pacific Accountants
Namaskar,
Secretary Shanta Subedi, President Madhu Pande, distinguished guests, fellow professionals, ladies
and gentlemen. It gives me great pleasure to welcome you all on behalf of the Confederation of Asian
& Pacific Accountants, to this international conference where we consider Strengthening Nepal's
Public Sector Accounting and Auditing.
I congratulate and acknowledge our colleagues at the Institute of Chartered Accountants of Nepal, for
their organisation of this event, their understanding of the importance of the need to discuss Public
Sector Accounting and Auditing, and to consider the necessity and possibilities for strengthening; what
opportunities there are, and indeed, what co‐operation amongst professionals the professional body
and regulators is required to ensure great outcomes.
Improving governance and accountability is an important objective of governments, and a strong and
robust public financial management system is central to achieving this.
In preparing for this meeting, our colleagues from ICAN have let us know of a number of reform
initiatives that are underway here in Nepal, many supported by donor agencies and included amongst
those is a commitment to adopt and implement cash based international public sector accounting
standards. I know that this will be discussed as part of today’s program as will the shared experiences
of others from across the region. The implementation of cash based IPSASs is an admirable next stage.
The long run prize as encouraged by CAPA is full accruals accounting. Why Because of the fuller
picture that it presents.
Quite simply, 'good information should lead to good decision making', whether that be in the private
or public sector.
Accounting and the assurance that goes with it are not the end point. They are an enabler of good
financial management. They enable good decisions to be made!!!
CAPA
To start off, a little background about “the Confederation of Asian and Pacific Accountants" – whom I
have the pleasure of leading at present.
First and foremost we are a CONFEDERATION.
‘A coming together of individual bodies in federation’ and it is that coming together, working
together for the development of the profession and its professionals, that gives us great strength,
whilst at the same time recognising there will be differences that need to be understood and
respected.

We are now 31 organisations in 23 jurisdictions, and again I would like to acknowledge our member
body, the Institute of Chartered Accountants of Nepal and the important contribution they make to
the work of CAPA.
Vision
Our vision for the profession in the region is:
“A relevant and respected accounting profession, trusted and valued by governments and
businesses, and recognition for contributing to the development of sustainable financial markets
and economies”
Mission
Our mission is to “develop, coordinate and advance the accounting profession in the region”.
Our belief at CAPA is that “financial infrastructure is just as important as physical infrastructure”.
In considering growth in the Asia‐Pacific region, the accountancy profession is part of that growth in
the sense that it not only needs to provide the accounting service which supports the growth, but as a
profession, our numbers of high quality, well‐trained, well‐educated professionals needs to expand. In
this respect, some of the largest growth numbers in our profession are coming from the Asia‐Pacific
region and as the body that represents this region, we are continually looking at how best to serve our
region, our members and their members.
Our visit here is an example of this as we have been able to help facilitate discussion and ideas.
Today’s Discussion
Like you, I am looking forward to hearing from our presenters. I also look forward to our discussions
and open forum towards the end of the day.
I would like to thank all of our speakers in advance for their time and not insubstantial effort to be
here.
I would like to thank all involved at ICAN for your kind hosting and generous hospitality for today and
for our meetings yesterday.
And finally, I would like to thank you all for your participation in what I am sure you will find to be an
outstanding conference.
Please remember "good information enables good decision making".
~ END ~