SUÁ & Associates is proud to acknowledge the participation of our Partner and team members at the recent International Forum of Accounting Standard Setters (IFASS) Meeting and the CPA Australia Summit on Accounting for Intangibles held in Melbourne, Australia.

Representing the Samoa Institute of Accountants (SIA) were:

• Tagaloa Faafouina Suá – Partner (SUÁ & Associates- chartered accountants)
• Tuala Pat Leota – Partner (Leota & Niumata – chartered accountants)
• Tina Saili – Partner (Tina Ula Saili -chartered accountant)
• Aoniu Seula – Principal Accountant – Corporate Services and Strategic Division – Ministry of Finance

The forum brought together accounting professionals, standard setters, regulators, and industry leaders from across the region and internationally to discuss emerging developments shaping the future of financial reporting, public sector accountability, sustainability, and the evolving role of the accounting profession.

Key Topics and Standards Discussed

The meetings covered several important developments impacting both the public and private sectors, including:

International Non-Profit Accounting Standards (INPAS)

Discussions highlighted ongoing progress toward the development of global accounting standards specifically tailored for non-profit organisations, aimed at improving transparency, consistency, and accountability across the sector.

Sustainability Reporting

Participants explored the increasing importance of sustainability disclosures and environmental, social, and governance (ESG) reporting frameworks, including the growing global expectation for organisations to integrate sustainability into strategic and financial reporting. Challenges for smaller markets including Samoa.

Ethics and Artificial Intelligence (AI)

A major focus was placed on the ethical implications of Artificial Intelligence within the accounting profession, including governance, professional judgement, data integrity, and the responsibilities of accountants in ensuring ethical AI adoption.

International Public Sector Accounting Standards (IPSAS)

Updates were provided on current IPSAS developments and their continued role in strengthening public sector financial management, transparency, and accountability across governments and public institutions.

Accounting for Intangibles

The CPA Australia Summit examined the growing significance of intangible assets in modern economies, including intellectual property, digital assets, brand value, data, innovation, and human capital. Discussions focused on how existing accounting frameworks may evolve to better capture and report intangible value creation.

Strengthening Samoa’s Accounting Profession

Participation in these international forums reflects the ongoing commitment of the Samoa Institute of Accountants and SUÁ & Associates to remain engaged with global accounting developments and to contribute toward strengthening professional standards, governance, and financial reporting practices within Samoa and the Pacific region.

SUÁ & Associates values the opportunity to participate in these important discussions and looks forward to continuing to support the advancement of the accounting profession locally, regionally, and internationally.

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