The third GCC Conference of the Bahrain Chapter of the Institute of Chartered Accountants of India (BCICAI) concluded on a high note with more than 300 financial experts from across the region taking part in it.

Affiliated to the Bahrain Accountants Association, BCICAI is the largest organised professional body of Indians in Bahrain and has been in existence for more than 12 years. Apart from reaching out to the Bahrain society, it organises seminars of professional interest to its members.

The conference themed "Chartered Accountants: Expanding Horizons" was held at the Crowne Plaza in the presence of Industry and Commerce Minister Dr Hassan Fakhro and Indian Ambassador Dr Mohan Kumar.

Dr Fakhro acknowledged the excellent relations Bahrain enjoys with India and the contribution of the Indian chartered accountants in good corporate governance and in making Bahrain a globally competitive economy, reported the Gulf Daily News, our sister publication.

Dr Kumar highlighted the expanded role of chartered accountants in the rapidly evolving economic environment and technological advancement across the world.

He suggested that the way forward for the chartered accountants is to look at big picture, acquire soft skills, international mobility, adaptability and flexibility.

There were a number of presentations from experts with a focus on the challenges confronting the accounting professions and strategies to address them.

Conference started with a panel discussion on the expanding horizons of chartered accountants which was moderated by KPMG Bahrain and Qatar managing partner Jamal Mohamed Fakhro.

The panelists included Ernst & Young Bahrain managing partner Essa Al Jowder, Khalid Al Quod, ICAI regional director Middle East James Ravi and Innovest chief financial officer Mohammed Isa.

The second day started with the address by past president of the Institute of Chartered Accountants of India NP Sarda, who spoke on conceptual issues and recent developments in the IFRS and Indian Accounting Standards.

"The rapid changes in technology, globalisation, competitiveness, economics and increasing transparency have contributed in their own ways to the changes in the role of a chartered accountant," said Bahrain chapter chairman K Muralidhar.

"In the current scenario, the chartered accountant is no longer viewed as a mere book-keeper," observed Muralidhar.

"They do a host of activities way beyond the traditional domain. The challenges are opening new windows of opportunities in the respective areas, regions and globally. Hence, it is time for introspection," he added.-TradeArabia News Service