The Multan Branch Council of the Institute of Cost and Management Accountants of Pakistan, universally known as ICMA International, has announced a specialized professional development webinar focusing on the newly introduced International Financial Reporting Standard 18. Scheduled to take place online, this educational session is organized in close collaboration with the National Continuing Professional Development Committee of the institute. The session aims to provide corporate financial statement preparers, auditors, and executive decision-makers with a comprehensive understanding of the upcoming changes governing how organizations present and disclose their financial performance.
The primary subject of the webinar, IFRS 18, represents a substantial shift in the global accounting framework as it officially replaces the long-standing International Accounting Standard 1. The new standard introduces critical updates to the structure and format of financial statements, specifically placing a heavy emphasis on enhancing transparency, improving international comparability, and maximizing the overall usefulness of financial data for external investors, regulatory bodies, and diverse market stakeholders. As global capital markets demand clearer insights into corporate operations, mastering the intricacies of this new presentation standard becomes necessary for compliance and clear market communication.
To guide participants through these complex accounting transitions, the institute has invited Ayaz Mustafa, a highly experienced corporate finance and accounting expert, to serve as the principal presenter. Currently serving as the Head of Accounts and Finance at HBL Commercial Investments based in Abu Dhabi, United Arab Emirates, he brings a vast repository of international knowledge to the session. His professional credentials include fellowships and certifications such as Fellow Cost and Management Accountant, Association of Chartered Certified Accountants, Master of Business Administration, Fellow Public Finance Accountant, and Certified Director, alongside legal and specialized compliance qualifications from regional and international bodies. Throughout his career, he has remained deeply involved in corporate advisory, auditing, and technical training sessions for both working professionals and academic students.
During the online session, the presenter will systematically unpack the core objective and operational scope of the new standard, analyzing its immediate structural impact on the layout of modern corporate financial reports. Attendees will receive a detailed breakdown of the fresh categories and newly required financial subtotals that must be integrated into the standard statement of profit or loss. Furthermore, the session will specifically address the presentation of operating profits and other related performance measurements, which are critical for accurate corporate valuation.
Another essential area of focus during the presentation will be the explicit disclosure requirements mandated for management-defined performance measures, which often vary significantly between different business entities. The webinar will also cover enhanced principles regarding the aggregation and disaggregation of complex financial information, helping corporate accountants avoid confusing layouts while ensuring all critical data points remain fully visible. Finally, the expert speaker will outline the practical implications of these changes for corporate preparers, independent auditors, internal finance teams, and professional accountants, while establishing a clear transition timeline to help businesses achieve total implementation readiness before enforcement deadlines.
The organizing leadership of the event includes Muhammad Yousaf Siddiqui, the Chairman of the Multan Branch Council, and Vice Chairman Muhammad Shahbaz, working alongside Azeem Hussain Siddiqui, the Chairman of the National CPD Committee. These institutional representatives have designed the program to serve as a direct link between regulatory standard-setters and practical market professionals, institutionalizing essential knowledge-sharing across the national business community. The online session will offer one and a half hours of verified continuing professional development credit to registered participants.
This educational initiative is explicitly targeted toward active finance professionals, corporate accountants, independent auditors, chief financial officers, academic students, and compliance managers involved directly in financial reporting and internal corporate accounts. The virtual event is scheduled for Saturday, July 18, 2026, commencing precisely at 4:00 PM Pakistan Time. Registration for the webinar remains completely accessible to interested individuals through a dedicated digital portal, requiring only an allocation of time from professionals aiming to secure their alignment with modern international accounting practices.
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