The Office of the Auditor General of the Union and the Ministry of Planning and Finance jointly organized the ‘Myanmar Public Sector Accounting Conference’ in Nay Pyi Taw yesterday with the support of the European Union Trust Fund and the technical assistance of the World Bank.

Union Auditor-General U Maw Than and Union Minister for Planning and Finance U Soe Win made key note speeches at the event which was aimed to convey a message about the important role accounting standards at the state departments.

Experts from the World Bank and international accounting profession, together with 13 local accountants, discussed the ongoing reform processes in public sector accounts, the major impacts of the International Public-Sector Accounting Standards, the experiences of two countries which are practicing the IPSAS and the transformation of international financial reporting standards in private sector.

Deputy Minister for Planning and Finance U Maung Maung Win made the concluding remark for the discussions.

The conference focused on a transparent accounting system at the state departments through international accounting standards, better financial management, accountability and responsibility and identifying the benefits from the supports of donors in upgrading the state’s financial management. — MNA

(Translated by Aung Khin)