(MENAFN - Khaleej Times) The Institute of Chartered Accountants of India (ICAI) Abu Dhabi Chapter recently held a professional development event in the capital, featuring the topic "The Increasing Importance of Treasury & Current Challenges" and attended by more than 100 participants.
The chairman, Ramesh Krishnan, inaugurated the seminar with a brief chapter update and informing about the upcoming activities of the chapter, mainly the workshop of globally-celebrated author Chetan Bhagat, "CEO 2020", organised in conjunction with the Dubai chapter of the ICAI today at the Dubai Men's College Auditorium.
Matthew Hurn, executive director of Treasury at the Mubadala Development Company, spoke on "The Increasing Importance of Corporate Treasury".
He began by briefly introducing the Association of Corporate Treasurers, or ACT, and went on to describe the role of the treasurer. He also shared his views on the major aspects of the role such as governance, cash management and liquidity, and risk management, all of which come under the ambit of corporate treasury.
This was followed by a panel discussion on "Current Challenges Facing the Treasurer". Hurn was joined in the paned by Michael Clifford, chief executive officer of Al Fahim Investments. The panel discussion was moderated by CA Nilesh Ambikar, senior manager of Baker Tilly MKM.
The introductory part had the experts sharing their view on the increasing importance of the role of a treasurer with the focus on governance. They commented on the change in the way companies in the Middle East focus on corporate governance and risk. While talking about sources of funding, the emerging importance of sukuk and Islamic financing was discussed.
It then turned to risk management, which is crucial to each organisation and which drives the entire corporate strategy. The panelists ended on a positive note of improvement in the current economic scenario and the positive outlook for the year ahead.
Padmanabha Acharya, vice-chairman of the chapter, proposed the vote of thanks. He indicated that the ICAI has collaborated with the ACT in bringing noted industry experts towards the continuing professional education of the members.
Acharya also indicated that the ICAI would collaborate with the UK's Energy Institute and other professional bodies to bring noted speakers to the region.
The Abu Dhabi Chapter of the ICAI was founded in 1984 and comprises over 600 members from the industry and the profession. The ICAI also holds the distinction of being the second-largest accounting body in the world, having 200,000 members in India and abroad.
During 62 years of its existence, The ICAI has achieved recognition as a premier accounting body not only in India but also globally, for its contribution in the fields of education, professional development, maintenance of high accounting, auditing and ethical standards. The Abu Dhabi Chapter of the ICAI is one of the most active chapters among 21 overseas chapters of the Institute.
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