The Forum was organized a part of three CFRR-implemented programs: (i) The Public Sector Accounting and Reporting Program (PULSAR), (ii) The Road to Europe: Program of Accounting Reform and Institutional Strengthening for Small and Medium Enterprises (REPARIS for SMEs), (iii) The Enhancing Accounting, Auditing, and Sustainability Reporting Program (EAASURE). It usefully set the scene with information in advance of the CFRR Ministerial Conference on March 18.

The Forum convened around 170 participants, including senior officials and representatives of state institutions from participating countries, international development partners, professional accountancy organizations, and academia, to address evolving challenges and opportunities in accounting and auditing. The event featured informative sessions exploring effective accounting service trends, including discussions on outsourcing models, shared service centers, and the increasing demand for qualified accountants. The audience were very interested in the experiences of public sector accounting reform shared by representatives from Greece and Estonia. Corporate sector updates highlighted the latest developments in IFRS Accounting Standards, International Standards on Auditing, and sustainability assurance. Significant developments in public sector accounting standards focused on IPSAS, EPSAS, and the IPSASB’s Sustainability Reporting Standard 1 Exposure Draft. The Forum concluded with a forward-looking session on education and ethics in accounting, with particular emphasis on the ethical application of AI in the profession.

Key messages emerged around the transformative impact of technology and changing service models in the accounting profession. Speakers emphasized that while the demand for qualified accountants continues to rise, organizations must carefully consider which accounting service model—centralized, decentralized, or outsourced—best suits their specific needs, with special attention to governance structures, accountability frameworks, and risk management. The forum highlighted the growing importance of sustainability reporting and the financial impact of climate change, signaling a significant shift in corporate reporting practices. Perhaps most impactfully, the discussions on AI's ethical implications for the accounting profession underscored the urgent need for updated education and training programs to address emerging skills gaps. The European Union (EU) AI Act was presented as a critical regulatory framework that will shape professional standards not only within the EU but also in aspiring member countries, suggesting that proactive adoption of these ethical standards and educational reforms will be essential for maintaining the integrity and relevance of the accounting profession in a rapidly evolving technological landscape.

Participants' feedback was very positive on meeting the learning objectives. The topics' relevance, content quality, speakers, and presentation were highly praised. Feedback highlighted the usefulness of selected topics, the value of the diverse audience, and the exceptional insights from speakers sharing real-world experiences.