Denpasar, Bali (ANTARA News) - Vice President Boediono in his address opening the fifth International Financial Reporting Standards (IFRS) Regional Policy Forum here on Monday, called for the implementation of international accounting standards in Indonesia.

The vice president said the standards were expected to support the improvement of the quality and transparency of companies`s financial reports in Indonesia.

"Uniting Indonesian and international accounting standards is not easy. Adherence to IFRS is not only an accounting issue because it is also intended to improve the quality and transparency of financial reports of companies in Indonesia," the vice president said.

Boediono said policy makers` support for the application of IFRS accounting standards was needed.

Therefore he appreciated the support from policy makers such as Capital Market Supervisory Board, Bank Indonesia, and State Ministry for State Enterprises which required the use of accounting standards from IFRS.

Managing board chairman of the Indonesian Accountants Association Mardiasmo said that some 300 delegates came from Asia, Oceania and other countries, including China, South Korea, Brunei, Japan, Malaysia, Macau, Hong Kong, Nyanmar, New Zealand, Philippines, Singapore, the US and the UK.

Mardiasmo said it was time for Indonesia to play an important role in discussions on accountancy standards in facing global challenges and opportunities.

The Vice President who arrived at Ngurah Rai airport here from Bandung at 10.15 am flew back to Jakarta after opening the event.

He was greeted by Bali Governor Made Mangku Prastika, the local legislative assembly speaker and members the Bali Regional Board Coordinating Forum.

The Vice President went to the IFRS forum and greeted by Mardiasmo and representative of IFRS Foundation Jeffrey Lucy.

Deputy Finance Minister Ani Ratnawati was also present on the occasion.

The Vice President was slated to fly back to Jakarta at 12.25 pm and arrive there at 1.10 pm.

Editor: Priyambodo RH
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