ACCA, IFAC release a global guide on public financial management reforms

A new joint guide by ACCA (the Association of Chartered Certified Accountants) and the International Federation of Accountants (IFAC) released at the World Congress of Accountants (WCOA) aims to boost PFM reforms across the globe by defining for the first time the idea of professionalisation specifically in the context of public sector finance. 

The guide also features case studies of good practice from Tanzania, the UK, Cyprus, the Philippines, Pakistan, Malaysia and Wales.

A global guide for professionalisation in public sector finance provides a definition of what professionalisation means in public sector finance, sets out the benefits of professionalisation, and offers a high-level roadmap to support global good practice in professionalisation. 

Discussing the global guide ahead of a panel discussion at WCOA,Joseph Owolabi, ACCA president, said: “Professionalisation brings credibility, trust and confidence in public finances by supplementing the systems and public finance processes with the right skills for accountability, transparency, good governance and external scrutiny.A professionalised workforce within a finance function supplies more than accounting information. It brings wide value to public sector finances – providing improved revenue collection, effective budgetary controls, and the data required to support policy decision making.”

Kevin Dancey, IFAC CEO, said:“We are looking to rebalance the focus so that it is not only on the process, but also on the people. The value of the accountancy profession, whether in the public or private sectors, comes from the experience, skills, judgement and ethical behaviour of its people.By increasing the number of professional accountants working in the public sector, we will no doubt add to the credibility and effectiveness of PFM, and reinforce trust in public services and spending.”

Achieving professionalisation brings multiple benefits to the economy, governments and individuals. It meansgreater financial credibility for economies, improved financial management discipline for governments, and greateraccess to diverse career options for individuals. 

Alex Metcalfe, ACCA’s head of public sector, said: “Political leadership and commitment for professionalisation is the most important factor for sustaining PFM reforms over time.In some countries, there is a lack of recognition that change is needed at all. In other countries, PFM reforms have concentrated on moving from cash-based to accrual-based accounting. But now more effort is urgently required to professionalise public finance staff and provide opportunities for training for professional qualifications.”

Access the global guidehere.

Are you Ready? TCL Gamers League is now coming to Lahore with the biggest pool prize of 1.5 M

  

To add immense excitement and celebration to the spirit of eSports, Pakistan's No.1 LED TV brand, TCL Electronics, brings the biggest Football E-Gaming Event, "TCL Gamers League 2022," with a massive prize pool of PKR 1.5 million. The registrations are now open for Lahore for which TCL is all set to conduct its Qualifier Round on 18^th and 19^th of November and Grand Finale on 20^th of November at Packages Mall, Lahore.

 

Karachi Qualifier Round is concluded on 13 November 2022 at Lucky One Mall Karachi through which 12 finalists have reserved their spots in Grand Finale on 20 November 2022. The Karachi Qualifier Round had an exciting footfall of more than 10,000 people who attended the thrilling event that was full of amazing games and surprises for participants.

 

TCL also screened ICC T20 World Cup Final that filled the air with more thrill and excitement by bringing all the cricket and football fans under one roof at Lucky One Mall Karachi. The event was also attended by notable lifestyle influencers and favorite gaming bloggers that added more joy to the experience of participants.

 

TCL is now all set to bring the biggest E-sports football gaming tournament to Lahore where the gamers can try their luck to win prize pool of over 1.5M along with having the most amazing gaming experience at Packages Mall, Lahore. 

 

 

Register NOW (Limited slots available): https://bit.ly/3FTzHHB

 

Beaconhouse 15th School of Tomorrow Conference has come to an end successfully

  

Beaconhouse, the country's largest network of private educational institutions, has successfully concluded its 15th edition 'School of Tomorrow' (SOT) conferences, themed at 'Guardians of the Future’.

 

The three-day conference brimmed with multiple insightful discussions with over 150 global and local thought leaders in education, healthcare, athletics, social and environmental development. Educationists, senior advisors, diplomats, policymakers, and experts from various fields came together to conclude this three-day event on a high note.

 

Focused on current and future educational standards, the opening session of the SOT conference featured a live discussion on ‘Setting Directions for the World of Tomorrow’ and its progress highlighted by CEO of Beaconhouse Group Kasim Kasuri, with the presence of Cynthia Guyer, Dr. John Siraj Blachford, Rashid Rana, and Namira Saleem.

 

Mr. Sean Covey, President of FranklinCovey Education and author of the acclaimed book ‘The 7 Habits of Highly Effective Teens’, talks to a group of teens about the timeless habits that help teenagers improve their self-image, build friendships, resist peer pressure, and achieve their goals. Furthermore, the discussion provided guidance for the next generation to not only realise their potential but also become efficient leaders of tomorrow.

 

A prominent panel discussion titled, ‘Setting a Stage for Tomorrow’s School’, The discussion addressed the changing role of education and the nature of schools over the next 30 years and beyond. A clear consensus pointed towards a rapidly globalising economy for which a new type of worker is required – one that can learn and adapt, keep pace with, and anticipate progress in every field.

 

Twenty-eight panel discussions were held, along with five workshops over three days. These talks revolved around creating a better future for generations to come, with improved educational structures, a focused approach towards safer climate, and the role parenting styles, media, and education play in developing a secure future.

 

Another session moderated by popular TV anchor Sidra Iqbal revolved around how economic, climate, and energy crisis have laid gross inequalities across the globe in terms of resource and income distribution. In addition, the link between climate change, global degradation of the natural world, and the outbreak of new viral illnesses have been highlighted.

 

This session features Faizan Siddiqui, Mr. Sikander Bizenjo, a development economist, and Dr. Masood Arshad, Director of Food, Water and Climate, WWF-Pakistan. They discussed strategies and approaches nations, especially developing ones like Pakistan, may adopt to cope with the crisis.

 

The 15th SOT conference included prominent leaders including Yousaf Kerai, Dr. Ger Graus, Dr. Sara Baker, Dr. Ishrat Hussain, Vaneeza Ahmed, Dr. Abdul Hameed, Wajahat Malik, Hira Yousafzai, Sanne Kanis and many more.

 

Speaking about the conference, Kasim Kasuri, Event Chair and CEO of Beaconhouse, said, “We are absolutely overwhelmed to have conducted our 15th edition of School of Tomorrow after six years in Lahore. The SOT conference was able to create awareness regarding the rights of children and young people while ensuring a safer and brighter tomorrow for their future guardians. The informative and interactive sessions were attended by wide range of students and young people that will help them build a better tomorrow for themselves and for generations to come. We aim to live by our agenda to enable and empower our children today to ensure an inclusive and peaceful tomorrow.”

The SOT was initiated by Beaconhouse as a series of events to support the institution's quest to redefine education in Pakistan. The Beaconhouse Group holds a legacy of 47 years of educational expertise and currently has over 315,000 students enrolled full-time across more than 190 private school branches in eight countries. This year's conference was sponsored by UBL.

Beaconhouse hosts the 15th Edition of the ‘School of Tomorrow’ Conference - ‘Guardians of the Future’

Beaconhouse, the country’s largest network of private educational institutions, has launched the 15^th edition of its flagship ‘School of Tomorrow’ (SOT) Event series today in Lahore, marking the 47^th anniversary of the Beaconhouse Group.

The three-day event, themed ‘Guardians of the Future’ will host over 150 global and local thought leaders from various sectors, including education, development, healthcare, technology and digital media, for insightful panel discussions on a multitude of topics relevant to the youth and varying factors impacting the general public.

Over the last four decades Beaconhouse has been a committed advocate for the rights of children and encourages young people to be active participants in their learning, and be viewed as guardians of the future:  the next generations of mentors and leaders within their families, communities, and nations.

Taking the narrative forward, the first on-ground SOT conference in four years, includes 40 plus sessions ranging from panel discussions on the future of education, the global economy, climate change and technology to interesting interactions with thought leaders including Jeffrey Archer (best-selling author), Dr Faisal Bari (Dean, LUMS School of Education), Ron Berger (Professor, Harvard Graduate School of Education), Sean Covey (President, FranklinCovey Education), Salima Hashmi (Founding Dean of the Mariam Dawood School of Visual Art & Design, BNU), John Hattie (internationally acclaimed Researcher and Professor), Kamran Lashari (DG, Walled City Lahore Authority), Syeda Arfa Zehra (Educationist and Human Rights Activist), Samina Baig (High-altitude Mountaineer), Shae Gill (internationally renowned singer), Ali Xeeshan (leading Fashion Designer), and Hasan Sheheryar Yasin (iconic Fashion Designer and TV Host).

Speaking about the conference, Kasim Kasuri, Event Chair and CEO of Beaconhouse, said, “We are excited to bring School of Tomorrow back to Lahore after 6 years — our XVth edition since 2000! The aim of SOT Events is to catalyse conversations around the future of learning, climate change, technology, arts and culture, entrepreneurship, and inclusion. Edition XV of SOT is called “Guardians of the Future” — and is dedicated to the youth, who are the true custodians of our future. We hope to promote communities that value the rights of children and, in doing so, promote globally-minded, critical thinkers who will not only be our leaders of tomorrow but also contributors to making the world a peaceful place for everyone — despite our differences.”

The conference will also feature two unique exhibits including Classrooms of Tomorrow, an interactive space on the future of learning curated by Google and Beaconhouse EdTech, and Co-exist/Co-exit: the future was today - an immersive art experience curated by Rashid Rana and Risham Syed and presented by the School of Visual Arts & Design, Beaconhouse National University.

 

Continuing its association with SOT, United Bank Limited (UBL) is the lead sponsor for SOT XV for the third year in a row. Being a socially conscientious corporate citizen, UBL’s ideology revolves around having an affirmative and lasting impact on the communities it operates in. Therefore, this partnership is a testament to UBL’s constant support towards quality education and initiatives driven to create a more balanced and inclusive educational ecosystem in the country.

Other key sponsors include My BackPack, Emkay Books and Paramount Books.

The SOT Event is open to the public on Saturday 5 November and Sunday 6 November at Beaconhouse-Newlands, Phase VI, Lahore.