ISLAMABAD
\nFederal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, here on Tuesday highlighted the government\u2019s comprehensive policy framework aimed at enhancing tax revenues through improved documentation and financial transparency.
\nDuring a meeting with a delegation of the International Accounting Standards Board (IASB) led by Dr. Andreas, Chairman IASB, the minister emphasized the importance of standardizing financial regimes to align with global practices, which he said were crucial for fostering investor confidence, both domestic and international.
\nThe delegation included Jianqiao Lu, Member IASB, Farukh Rehman, President of the Institute of Chartered Accountants of Pakistan (ICAP), and Rana Usman Khan, Chairman of the Asia-Oceania Accounting Standards Group. Ashfaq Tola, Chairman of the Reforms and Resource Mobilization Commission of Pakistan (RRMC) and senior officers from the Finance Division also attended the meeting.
\nAccording to press release issued by finance division, the minister reiterated the government\u2019s commitment to ensuring policy continuity to create a conducive environment for sustainable economic growth.
\nOn the occasion, Dr. Andreas acknowledged Pakistan\u2019s leadership in adopting international accounting standards and commended the country for being an early follower of global practices.
\nHe expressed appreciation for the support provided by ICAP in advancing these efforts, emphasizing the role of professional organizations in promoting financial transparency and capacity building.
\nThe participants discussed the challenges and opportunities associated with the implementation of International Financial Reporting Standards (IFRS) in Pakistan.
\nFarukh Rehman and Rana Usman Khan shared insights into how ICAP and the Asia-Oceania Accounting Standards Group are contributing to strengthening financial reporting systems.
\nThe meeting concluded with a mutual commitment to further strengthen Pakistan\u2019s financial documentation and reporting practices in line with international standards.<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, here on Tuesday highlighted the government\u2019s comprehensive policy framework aimed at enhancing tax revenues through improved documentation and financial transparency. During a meeting with a delegation of the International Accounting Standards Board (IASB) led by Dr. Andreas, Chairman IASB, the minister emphasized the importance of […]<\/p>\n","protected":false},"author":2,"featured_media":445994,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-445965","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\n