UAE finance sector stakeholders explore latest financial reporting standards and market trends at Deloitte event

Deloitte hosted an event at the Ritz Carlton DIFC, to discuss "IFRS updates and emerging trends in the United Arab Emirates". The event was attended by key stakeholders, including industry leaders, CFOs and financial professionals.

The experts engaged in a number of discussion panels and sessions that covered highly relevant and timely topics for the finance sector in the UAE. Participants gained insights into the latest updates from the International Financial Reporting Standards (IFRS), as well as the emerging trends and implementation challenges. 

Padmanabha Acharya, UAE Audit Leader & Partner at Deloitte, said, "today we brought together the best minds in the finance industry in the UAE to facilitate knowledge sharing and exchange of ideas regarding the latest developments in the finance sector. The discussions today presented a great testament to the commitment of the UAE’s financial sector to embrace change and innovation, and we are delighted to be the enablers and the drivers of this positive transformation."

The event highlight was the CFO panel, moderated by Musa Ramahi, CFO Program Leader at Deloitte Middle East, which unlocked the findings of the Deloitte 2022 CFO survey. Taking part in the panel were leading executives within the industry such as Asim Rasheed, Group Financial Controller at Emirates NBD; John Deeb, Chief Financial Officer at ALEC Engineering & Contracting LLC; Félix Manso García, Chief Financial Officer at Aon Middle East; and Neeraj Agrawal, Group CFO of Crescent Petroleum and Board Member of Crescent Group. 

Sunder Nurani, Audit & Assurance partner at Deloitte said, “we saw a lot of appetite from the industry leaders to explore best practices amidst the changing regulatory landscape, particularly given this year will witness the implementation of the corporate income tax in the UAE and key considerations were explored today on how businesses can be best prepared.”

The closing event session covered ESG reporting and regulatory developments in the UAE and region, highlighting its importance for businesses as they continue to transform.