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 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.

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.