Key global developments such as the growing importance of digital technologies, nurturing innovation and fintech (financial technology) and the establishment of the International Sustainability Standards Board will be front of mind at the 21st World Congress of Accountants (WCOA) when it’s held in November in Mumbai, India.

Dubbed the ‘Olympics of accounting’, WCOA is held every four years and provides attendees with a global view of where the profession is headed.

Chartered Accountants Australia and New Zealand (CA ANZ) is a WCOA 2022 gold plus congress sponsor and is encouraging members to attend – in person or virtually, from anywhere in the world. CA ANZ is offering members an early bird rate if they purchase tickets prior to 5 October 2022.

Here are five reasons to attend WCOA 2022:

1. It’s a great opportunity to network with ICAI members

WCOA 2022 is hosted by the Institute of Chartered Accountants of India (ICAI), under the auspices of the International Federation of Accountants (IFAC). ICAI is also a fellow member of the Chartered Accountants Worldwide (CAW) and a CA ANZ designated overseas member body. The theme of the congress is Building Trust, Enabling Sustainability and Mumbai-based businessman – and eighth richest person in the world – Mukesh Ambani will deliver the keynote address. Ambani is chairman and managing director of Reliance Industries – a multinational conglomerate involved in oil and gas, telecommunications, media, chemicals and synthetic textiles – regarded as one of the largest and most profitable companies in India. Though part of Reliance’s fortunes come from fossil fuel industries, Ambani is now embracing green energy and will invest US$80 billion in the next 10–15 years on green projects including a renewable energy power plant and green hydrogen facility, according to Forbes. Issues around sustainability and green energy will play a large role during this year’s event.

2. It’s an introduction to doing business in India

CA ANZ is partnering with Asialink Business to deliver a series of initiatives which build members' insights, capabilities and connections to engage the Indian market. Members participating in Mumbai and registered using the promo code will receive exclusive content, practical training and skill development programs to ensure you maximise the WCOA opportunity. Places are limited to participate in:

• Asialink Business’ online webinar program, Introduction to doing business in India, is running before and after WCOA on 20 October, 27 October and 15 December
• India Country Starter Pack, an essential and practical guide for doing business with this market
• A range of workshops and master classes.

3. India is going to be a massive contributor to world economic growth

Beyond sustainability as a theme, WCOA will also focus on global economic recovery. “At the last congress in 2018, pandemics would barely have made it on to businesses’ risk registers for most countries, and inflation and high energy prices didn’t feature,” says Karen McWilliams FCA, CA ANZ’s business reform leader, advocacy and professional standing.

“Go forward four years, these are now critical issues for the profession to address.”

This year’s event in Mumbai, India is also of significance, says Simon Grant FCA, CA ANZ’s group executive advocacy, professional standing and international development, who helped organise the last world congress held at ICC Sydney in 2018.

“As we play out the geopolitics of the world currently, the Indian economy is going to be a massive contributor to world economic growth and certainly a new powerhouse in terms of economic development of the world,” he says.

4. It’s a chance to pursue global opportunities

As part of the congress, CA ANZ is teaming up with Asialink Business to help CAs who’d like to pursue opportunities in India. “Asialink Business produces an India country starter pack which is an extraordinarily useful tool for any businessperson to understand the Indian market,” Grant says.

“On top of that, if you’re interested in meeting other accountants who deal with that part of the world, there’ll be great facilitations and introductions that can be made at both the CA ANZ exhibition and virtual online stands at WCOA.”

5. CA ANZ will launch its new sustainability playbook for NFPs

“One of the key global developments at the moment is the establishment of the International Sustainability Standards Board [ISSB],” explains Karen McWilliams FCA. The ISSB was established by the International Financial Reporting Standards (IFRS) Foundation and is developing a set of sustainability disclosures designed to meet the information needs of investors.

“The fact it wasn’t even contemplated at the last congress in Sydney in 2018 shows how quickly things have moved in that time,” says McWilliams. CA ANZ will be launching its new sustainability playbook for not-for-profit (NFP) organisations internationally at the congress. The playbook is designed to guide NFPs through sustainability issues and help them achieve their goals. It builds on the success of the 2021 sustainability playbook for SMEs, How SMEs can create a more sustainable world, produced in conjunction with the Association of Chartered Certified Accountants (ACCA).