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Lao's accounting reform strategy discussed
More than 70 accounting officials from the government, private sectors and international organizations yesterday met at a meeting held here by Ministry of Finance in cooperation with the International Monetary Fund and the World Bank.
Told and reported at the meeting were the strategic plan on accounting reform, state auditing, and international experience and implications regarding accounting for the Lao PDR.
"The participants will discuss the implications of the move to international accounting standards for the public sector and external audit and discuss contents, definition, concepts and lessons learned from international experience in accounting reform," said Ms. Viengthong.
The draft strategy has included accounting reform and state auditing, the development of regulations on financial report and human resource development and capacity building for financial institutes and accounting management, auditing and assessment.
The reform, according to the strategy, is designed to ensure financial report of domestic small and medium enterprises comply with the International Financial Reporting Standards.
Present at the opening ceremony of the meeting were Vice-Minister of Finance Ms. Viengthong Siphandone, World Bank Country Manager Keiko Miwa and IMF Regional Advisor Suhas Joshi.
kpl lao news agency
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