An international conference on accounting, economics, finance, and management organised by the HCM City Open University in collaboration with Nha Trang University on August 30 in HCM City. — VNS Photo Nguyễn Diệp

HCM CITY — An international conference was held on Thursday in HCM City seeking to identify innovative practices and propose ideas related to finance, accounting and auditing from a global and sustainable development perspective.

The third international conference on accounting, economics, finance, and management 2024 (ICAEFM 2024) was organised by the HCM City Open University in collaboration with Nha Trang University.

With the theme "Navigating the future of finance, accounting and auditing", ICAEFM 2024 aims to build a global platform for discussion, cooperation, and knowledge exchange among educational leaders, researchers, and practitioners in these fields from around the world.

Speaking at the event, HCM City Open University rector Nguyễn Minh Hà said digitalisation and artificial intelligence (AI) continue to be widely applied in the financial and accounting sectors in order to automate processes and decision-making.

From 2023 to 2024, large accounting organisations including IASB and FASB continue to update accounting standards and financial reporting in order to enhance the transparency and reliability of financial information.

The demand for specialised financial, accounting, and auditing services is increasing, particularly in areas such as green finance, risk management, and cash flow management.

This special conference brings together experts, practitioners, researchers, and academics to discuss emerging trends, challenges, and opportunities in finance, accounting, and auditing, he said.

It requires integrating economic, environmental, and social factors into decision-making and the operations of organisations and establishing efficient financial and accounting systems.

Participating universities and research institutions have the opportunity to promote their image and position, and affirm their role in the university ecosystem while expanding cooperation in many fields, especially research and training on contemporary issues of interest to scholars both domestically and internationally.

The conference also promotes research and training cooperation among stakeholders in the fields of finance, accounting, and auditing.

It attracted valuable reports, presentations, and contributions with the participation of more than 100 researchers, lecturers, post-graduates, and learners from universities both domestically and internationally; along with experts from businesses and professional associations in the fields of accounting, auditing and finance.

Within the framework of the conference, four keynote speakers who are international experts in these fields presented their speeches.

Prof. Dr Martin Kreeb, president of Charlotte Fresenius University Vienna in Austria, discussed the topic “Interoperability of ESRS sustainability standards and ISSB standards. European experience in implementing the requirements of the sustainability reporting standards of the financial reporting advisory group (EFRAG).”

“Worker and workplace AI coexistence” was presented by Prof. Dr. Nazrul Islam, associate director of Centre of FinTech at University of East London in the UK.

“It’s a small world’s effect: How the network of board directors influences financial reporting practices” was shared by Dr Dương Minh Châu, senior lecturer at the University of East London in the UK. 

And Prof. Dr. Norfaiezah Sawandi, College of Business - University Utara Malaysia in Malaysia, presented “Sustainability reporting practices: Case study of Malaysia companies.”

In addition, the conference’s organising committee received the interest and contributions of a large number of participants with three on-site presentations and more than 40 papers and presentations on topics such as the impact of digital technology (AI, machine learning, robotic process automation, and blockchain) on finance and accounting practices, streamline operations and improve accuracy; and tools and strategies for collecting, analysing and interpreting financial data to gain business insights and improve performance.

The research papers presented at the conference will be considered for publication in the HCM City Open University Journal of Science. — VNS