Committee on Accounting Standards

To identify the gap between the National Accounting Standards prevalent within the member bodies of the SAFA Region, and recommending for alignment with global best practices . To compare the level of compliance of the National Standards of SAFA member countries with the respective International Standards and identify how well they are applicable for reginal application. To identify the region-specific issues not addressed by the International Standards lobby the IASB to include such items in the next revision of the relevant standards or alternatively consider issuing modification and or additional standards to meet such needs. To set up a mechanism to respond to requests for comments from...
• To identify the gap between the National Accounting Standards prevalent within the member bodies of the SAFA Region, and recommending for alignment with global best practices .
• To compare the level of compliance of the National Standards of SAFA member countries with the respective International Standards and identify how well they are applicable for reginal application.
• To identify the region-specific issues not addressed by the International Standards lobby the IASB to include such items in the next revision of the relevant standards or alternatively consider issuing modification and or additional standards to meet such needs.
• To set up a mechanism to respond to requests for comments from IASB on Exposure Drafts of proposed IAS or SIC interpretations on a SAFA Response Basis in addition to the comments that the respective National Member Bodies may make on the said Exposure Drafts separately.
• To develop resources and support for SAFA members to implement international standards (e.g., translations, training), aligning with Strategic Plan actions.
• To facilitate exchange of information on the methodologies adopted and the experience gathered by the Members bodies and Regulatory Agencies in the countries of the SAFA region to monitor compliance with these standards by their members and the business community in their respective countries.
• To set up joint working groups to develop where necessary region specific standards not yet addressed by the International Standard setting bodies owing to their insignificance or lack of urgency from an international perspective. The output from these working groups can form the basis for National Standards that may be adopted by the Members bodies of the SAFA.
• To promote research activities to find information for regional challenges identified in the Strategic Plan, and ensure findings are used to improve accounting practices in the region
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