Terms of Reference

  • Terms of Reference

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    JANUARY 2012

    The purpose of the Professional Accountancy Organization (PAO) Development Committee is to promote  and facilitate  the  establishment  and  strengthening  of  professional  accountancy organizations  in  support  of  the public  interest. The  constituency  of  the  PAO  Development Committee is professional accountancy organizations that exist or aspire to be IFAC members or associates,   governments   and   other   key   stakeholders   seeking  to establish   professional accountancy organizations, particularly in developing and emerging economies.


    The PAO Development Committee shall:

    • Support the establishment and strengthening of professional accountancy organizations in all countries of the world, recognizing progress will be made in the medium to long term.
    • Oversee    and/or    undertake    targeted    outreach    activities    to    professional    accountancy organizations and their key stakeholders. Such outreach may be undertaken by members of the PAO Development Committee, IFAC staff, individuals or organizations associated with the PAO Development Committee.
    • Coordinate and facilitate the sharing of relevant information and good practices among professional  accountancy  organizations,  Regional  Organizations, Accountancy  Groupings and the donor community.
    • Maintain ongoing liaison with the donor community, governments and other stakeholders with  emphasis  on  the contribution  of  strong  professional  accountancy  organizations  to increased  transparency,  enhanced accountability,  and  economic  growth;  and  on  the importance  of  adequate  financial  and  technical   resources to  support  the  accountancy profession in developing and emerging economies.
    • Establish  partnerships  or  other  arrangements  with  the  donor  community  and  other stakeholders  to   develop a  common  strategic  focus  for  capacity  development  in  the accountancy profession to support both the public and private sectors.
    • Encourage  and  support  the  mentoring  of  professional  accountancy  organizations  in developing and  emerging economies by Regional Organizations, Accountancy Groupings and more developed bodies to provide direct assistance to such organizations.
    • Monitor the work of other IFAC boards and committees and other standard-setting bodies to ensure that they are aware of and give due consideration to issues relevant to the accountancy profession in developing and emerging economies.
    • Utilize the information received in response to the IFAC Member Body Compliance Program to respond to development needs in the most appropriate manner through accessing the resources within the IFAC membership and the donor community.


    The PAO Development Committee may issue the following types of publications:

    • Good Practice Guidance, which outlines commendable or recommended methods and/or practices, including those currently recognized as “best practice;”
    • Information  Papers¸  which  provide  a  detailed  investigation  into  a  particular  subject  of relevance to developing nations and the accountancy profession;
    • Consultation Papers, which promote discussion or debate on issues affecting developing nations and the  accountancy profession and seek comments from interested parties on the issues raised in the paper; and
    • Special Reports, which are reports on one off topics of interest to those parties involved with developing nations and the accountancy profession.


    The PAO Development Committee will consist of up to twelve members whose appointment and terms of service shall be in accordance with the IFAC Constitution and Bylaws. The appointment of  technical  advisors  shall  also  be  in accordance  with  the  IFAC  Constitution  and  Bylaws allowing one technical advisor to accompany a member to a meeting.

    The PAO  Development  Committee  will  have  observers  nominated  by  the World  Bank  and UNCTAD. Other observers may from time to time attend and participate at meetings of the PAO Development Committee subject to approval by the Chair.

    Regional Organizations and Accountancy Groupings that have common objectives will generally have the right of attendance at all meetings, subject to approval by the Chair.


    The standard term for PAO Development Committee members is three years, with approximately one-third of the membership rotating each year. A member may serve up to two consecutive terms, for an aggregate term of six years.

    The Chair ordinarily may serve three consecutive terms (as Chair or as a member for one to two terms preceding the appointment as Chair), for an aggregate of nine years.


    Each    Committee     meeting     requires    the    presence,     in    person    or    by    simultaneous telecommunications link, of at least two-thirds of the appointed members of the Committee.

    Each member of the Committee will be allowed one vote. A member has the right to appoint a proxy in writing. (A proxy may be given to the Chair or another member of the committee, but

    not to a technical advisor.) The affirmative vote of at least two-thirds of members present at a meeting  in  person or by  simultaneous  telecommunications  link  or  by  proxy  is  required  to approve all actions or submissions of the Committee.


    The PAO Development Committee reports annually its work program, activities and progress made in achieving its objectives during the year. This information is normally included as part of the IFAC annual report. 

    The IFAC Board will review the terms of reference of the Committee at least every three years.



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