ICAP-CFO Conference 2015 Held in Karachi
The first-segment of the CFO Conference 2015 organized by the Institute of Chartered Accountants of Pakistan (ICAP) concluded in Karachi yesterday with financial experts stressing on the importance of good governance and excellence through renewed strategic, operational and reporting roles in the organization. More than 800 CFOs, heads of multi-national companies& state enterprises and business leaders attended the moot.
In his welcome address, the President of ICAP, Mr. YacoobSuttar, reiterated on the importance of the theme of the ICAP-CFO Conference this year, “Sustaining Excellence, Shifting Gears” and its principal objective of moving towards the ultimate vision of excellence.He said, “Its purpose is to reach out to members in industry and provide them with a platform to discussdebate and seek pragmatic solutions of emerging business and financial issues.”
The world’s public-speaking champion 2014, Mr. Dananjaya J. Hettiarachchi of the Toastmasters International gave an inspirational talk on “I see something in you” and eloquently engaged the CFOs in an interactive session. In a latter afternoon session on “Communication with Impact”,Hettiarachchidilated on how communication strategies can lead to better relationships, increasing the power to influence and building leadership brands.
Fakir Syed Aijazuddin OBE, FCA in his thematic keynote “Once a Finance Leader, Next the Leader of the Enterprise – Skills and Steps” opined that the decisive roles played by CFOs in an organization were crucial in their professional development as future leaders. He was of the view that CFOs do not exist merely as regulators but also as facilitators, serving the best interests of their organizations, profession and other allied stakeholders.
The Chairman of Professional Accountants in Business Committee (IFAC) and Chief Executive Officer, CIMA,Mr. Charles Tilley who arrived in Pakistan especially to the attend the ICAP-CFO Conference 2015 dilated upon the challenges which face finance professionals in the performance of their strategic, operational and reporting roles. In his presentation on “How Financial Leaders Pre-empt and Face Future Challenges” he stressed on the importance of good governance and elaborated on risk issues, big data and analytics as being crucial elements in their responsibility as finance heads.
The recipients of the ICAP Professional Excellence Awards 2015 includedMr. Muneeb Mufti of MTBC Pakistan received award for Initial Public Offering (IPO) and Mr. Danyaal Jamal of K–Electric Limited received the award for KE AZM SUKUK. The members of the jury included Mr. Ruhail Muhammad, Mr. FerozeJehangirCawasji and Mr. Zafar Iqbal Sobani, respectively.
The session on “Family Enterprise” which covered highly structured discussions on empowerment through delegation, sustaining growth through diversification and decentralization, and myths and realities of succession planning, included prominent panelists from family-owned businesses: Mr. Abrar Hasan, CEO, National Foods Limited; Dr. Zeelaf Munir, Chairperson, Executive Management Board, English Biscuit Manufacturers (Pvt) Limited; Mr. Samad Dawood, CEO, Dawood Hercules Corporation Limited and Mr. Amin Hashwani, Businessman. The session was chaired by Ms. Roshan Mehri, FCA, CEO Family Office, House of Habib.
A special interactive one-on-one dialogue “Success Journey of a Visionary” featuring Mr. Ebrahim Sidat, FCA, Past President ICAP and Former Country Managing Partner & CEO, Ernst & Young Ford Rhodes SidatHyder, highlighted milestones, professionalism and commitments, tales which enabled the organization to rise to glory. The discussion was conducted by Mr. Shehzad Chamdia, FCA, Chairman, Shehzad Chamdia Securities Private Limited and President, College of Accounting & Management Sciences (CAMS) and The Avicenna School.
The panel session on “Enabling Regulatory Regime” which focused on issues of overcoming regulatory barriers and enhancing partnerships to attain optimum performance, included experts such as Syed Moonis Abdullah Alvi, FCA, CFO, K-Electric; Mr. Muhammad Faisal, FCA, CFO & CIO, Lucky Cement Limited; Mr. Asif Haroon, FCA, Partner, Taxation and Legal Services, A.F. Ferguson & Co.; Mr. Kazim Hasnain, ACA, MD, Eli Lilly Pakistan. The session was moderated by Mr. Zulfikar Ali Causer, FCA, Partner, BDO Ebrahim & Co.
Till now, 10 CFO conferences have already been held across the country with participation of more than 5000 business leaders and finance professionals. ICAP has trained more than 7000 professional accountants, who are globally recognized and respected for their technical expertise in financial management, integrity and adherence to ethical practices.