The First Far East Conference of Accountants was held in Manila from 28 November to 1 December 1957. The First Far East Conference of Accountants created history in the accountancy world. It became the base for various professional accounting bodies in the Far East to confer every few years to discuss and exchange information. This was the forerunner of CAPA as it actualised the concept of a regional conference of accountants in the Asia-Pacific region. This conference has since been identified as the 1st CAPA Conference.
The First Far East Conference of Accountants was attended by delegates from the following countries, which were also considered the founding members of CAPA.