The Financial Executives Institute of the Philippines (FINEX) hosted the IAFEI World Congress for the 4th time at the Makati Shangri-la Hotel, Manila Philippines. The congress was well attended with about 300 delegates from FINEX and 34 foreign delegates from Canada, Chinese Taiwan, France, Germany, Italy, Japan, Mexico, Russia and Vietnam.

DAY 1 - OCTOBER 16 - OPENING CEREMONIES, KEYNOTE SPEECH AND TECHNICAL SESSIONS

The 44th IAFEI World Congress was officially opened with the presentation of colors which was a parade of the IAFEI member institutes' banners and the flags of FINEX, IAFEI and the Philippines. After the invocation and the Philippine National Anthem, FINEX President Edmundo Soriano and Chairman Luis Ortiz-Hidalgo welcomed the delegates to the IAFEI World Congress. Ms. Carmen Seriña, the Chairperson of the Organizing Committee, gave an overview of the congress.

The keynote speaker, Philippine Secretary of the Department of Finance, Hon. Cesar Purisima set the pace for the day's activities which consisted of four technical sessions with the following topics:

• Global Financial/Economic Landscape
• Global Asset Allocation Strategy
• ASEAN Economic Integration 2015 and Lessons from the European Union
• Global CFO Redefined

Toyota Financial Services, Inc. President, Mr. Mototaka Sato talked about Toyota's Growing Business in the Philippines during the Luncheon Session.

Clockwise from top: IAFEI Chairman Luis Ortiz-Hidalgo, FINEX President Edmundo Soriano, Secretary of Finance Cesar Purisima, Organizing Committee Chairperson Carmen Seriña

Speakers, panelists and discussants. Top-left to right: Jessie Ang (International Finance Corporation), Kenichi Ohta (JACFO-Japan, IAFEI Area President for Asia), Robert Parker (Credit Suisse), Roberto Juanchito Dispo (First Metro Investment Corp.), Peter Hsu (FEI-Chinese Taiwan), Hiroaki Endo (JACFO-Japan), Mototaka Sato (Toyota Financial Services, Inc.), Thiam Hee Ng (Office of Regional Economic Integration, Asian Development Bank) Bottom-left to right: Nestor Tan (BDO Unibank Inc.), Hans Sicat (The Philippine Stock Exchange), Cyril Rocke (European Chamber of Commerce Philippines), Eliseo Aurellado (Ateneo de Manila Graduate School of Business), Jaime Ysmael (Ayala Land, Inc.), Isabel Meharry (Green Shield Canada), Armand Angeli (DFCG-France, IAFEI EMEA President), David Chou (FEI Chinese Taiwan)

BREAKOUT SESSIONS

Later in the afternoon, there were breakout sessions for the four IAFEI Technical Committees namely, the International Tax, International Treasury, International Financial Reporting Standards (IFRS) and the International Observatory of Management Control. The Congress delegates attended their choice of session.

The following topics were presented by the four committees:

• Revenue Recognition (IFRS)
• Results of International Observatory of Management Control Survey
• CFO's Strategic Role in Managing Rising Tax Risks: What the CFO has to know, curb, rethink, and forget (International Tax Committee)
• Implications of BASEL III on Corporate Bank Clients (International Treasury Committee)

Clockwise from top: Wilson Tan (SGV & Co.) - IFRS; Jerome Bogaert (DFCG-France), Benedicta Du-Baladad (FINEX-Philippines), Felipe Leon Gamez (IMEF-Mexico), Arturo Carvajal (IMEF-Mexico) - International Tax; Madhur Mehta (Financial Institutions Group Capital Markets for SEA and North Asia Standard Chartered Bank), Dominique Chesneau (DFCG-France), Omar Cruz (FINEX-Philippines) International Treasury; Frederic Doche (DFCG-France) - International Observatory of Management Control

PRESENTATION MATERIALS are now available on the IAFEI Website: Click here

GALA NIGHT

In the evening of October 16, the Gala Night was held at the Rizal Ballroom of the Shangri-la Hotel. Some foreign delegates came in Philippine national costumes led by Chairman Luis Ortiz-Hidalgo and his wife, Adriana and Natalya Rukina of RCFD-Russia.

During the Gala Dinner, the newly elected officers of IAFEI for 2015 were presented. The IAFEI slogan, “The Premier Global Society of the Financial Executives” was launched by Chairman Luis Ortiz-Hidalgo. The recognition of Past IAFEI Chairpersons was also part of the program where Chairman Luis gave medals (specially designed by him) to thank and acknowledge the selfless dedication of IAFEI Past Chairpersons.

After these ceremonies, everyone enjoyed the performance of the UP Concert Chorus which gave the audience non-stop entertainment that really deserved a standing ovation.

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