Background

The Confederation of Asian and Pacific Accountants (CAPA) is a regional organisation representing 32 national professional accountancy organisations (PAOs) operating in Asia and the Pacific. These PAOs, referred to as CAPA’s members, represent over 1.6 million accountants across the region.

CAPA is one of four regional organisations (ROs) recognised by the global accountancy profession, which is represented by the International Federation of Accountants (IFAC). The other ROs represent PAOs in Europe, Africa, and the Americas.

CAPA has a unique role within the accountancy profession, positioned between IFAC and the national PAOs, which represent the profession in each jurisdiction. Accordingly, CAPA is better placed to undertake certain initiatives and activities than either IFAC or the PAOs.

CAPA provides the structure to enable relationship building and knowledge sharing among PAOs operating in the region and to undertake specific activities consistent with the organisation’s vision and mission.

CAPA’s mission is supported by medium to long-term strategies and short-term work plans. These embrace both the public and private sectors and all facets of the accountancy profession.

 

The Formation of CAPA

CAPA was the brainchild of the President of the Philippine Institute of Certified Public Accountants, Governor Gregorio S. Licaros, who was also the Governor of the Central Bank of the Philippines back then.

28 Nov – 1 Dec, 1957

Manila, Philippines

The First Far East Conference of Accountants was held.

The First Far East Conference of Accountants created history in the accountancy world as it became the base for various professional accounting bodies in the Far East to confer every few years to discuss and exchange information.

This event was the forerunner of CAPA as it actualised the concept of a regional conference of accountants in the Asia-Pacific region, and has since been identified as the 1st CAPA Conference.

Delegates from the following 12 jurisdictions attended the Conference, and these jurisdictions were considered the founding members of CAPA.

  1. Australia                                       8. New Zealand
  2. Hong Kong                                   9. Pakistan
  3. India                                            10. Taiwan
  4. Indonesia                                   11. Thailand
  5. Japan                                         12. Philippines
  6. Korea
  7. Malaysia (then Malaya, including North Borneo, Sabah and Sarawak)

Delegates from England and Netherlands attended the Conference as observers.

This first Conference resulted in several important issues:

  • A proposal for the establishment of a “federation of accountants” in the Far East region.
  • To hold similar conferences in the future at regular interval; primarily to discuss and to exchange ideas and information among member countries.
31 Mar – 2 Apr, 1960

Canberra & Melbourne, Australia

The Second Far East Conference of Accountants was held.

Apart from the 12 jurisdictions that attended the first conference, delegates from these new jurisdictions joined the conference:

  1. Ceylon (now Sri Lanka)
  2. Singapore
  3. United States of America

To reflect the extended membership, the description of the grouping was changed from the “Far East Conference of Accountants” to the “Confederation of Asian and Pacific Accountants” (CAPA). With this, subsequent conferences were named as “CAPA Conference”.

 20-24 Sep, 1976

Hong Kong

 The 8th CAPA Conference was held.

At the conclusion of this conference, CAPA adopted a formal charter, established an Executive Committee (now the Board) and elected its first President.