About the PAO Development Committee
The Professional Accountancy Organization (PAO) Development Committee’s focus is on addressing the challenges facing the development of strong professional accountancy organizations (PAOs) in emerging and developing countries. There is an integral relationship between strong PAOs and healthy financial sector performance, overall economic growth, and social progress. The Committee aims to support PAOs to become “centers of excellence” for their countries and regions.
The Professional Accountancy Organization Development Committee's Strategy and Work Plan for 2011-2014 sets out the committee's vision and mission for the coming years. This mission drives the committee’s three key objectives:
- Develop the capacity of the accountancy profession to produce high-quality financial information and sound financial management systems capable of supporting financial stability, economic growth, and social progress. Produce tools and guidance and conduct technical assistance to facilitate capacity development at both the national and regional levels. Oversee and/or undertake targeted outreach activities to PAOs and their key stakeholders.
- Increase awareness building and knowledge sharing regarding international standards adoption and implementation. Enhance understanding of the important roles that IFAC, PAOs, regional organizations and accountancy groupings, and the donor community play in international development. Encourage and support the mentoring of PAOs in developing and emerging economies by regional organizations, accountancy groupings, and more developed bodies. Monitor the work of standard-setting bodies and IFAC committees to ensure that they give due consideration to issues relevant to the accountancy profession in developing and emerging economies.
- Engage and deepen development partnerships with the international donor community, regional organizations, and public / private sector stakeholders in order to share resources, knowledge, and experience and deliver guidance, advice, and assistance in a more efficient and effective manner. Emphasize how strong PAOs’ contribute to increased transparency, enhanced accountability, and economic growth and the importance of adequate financial and technical resources to support the accountancy profession in developing and emerging economies.
The PAO Development Committee was formerly the Developing Nations Committee. It was renamed on January 1, 2011 as confirmation of a refocus of efforts on the most effective, efficient and sustainable source for advancing the accountancy profession: PAOs themselves.