Professional accountants in business (PAIBs) are a very diverse constituency, and can be found working as employees or consultants in commerce, industry, financial services, education, and the public and not-for-profit sectors. Many are in a position of strategic or functional leadership, or are otherwise well-placed to collaborate with colleagues in other disciplines to help their organizations toward long-term sustainable success.

Professional accountants support their organizations in a wide range of job functions at various levels, including leadership and management; operational; management control; and accounting and stakeholder communications.

The key roles and expected areas of competency of PAIBs are highlighted further in Competent and Versatile: How Professional Accountants in Business Drive Sustainable Organizational Success and an accompanying employer-focused brochure.

The PAIB Committee provides leadership and guidance on relevant issues pertaining to professional accountants in business and the business environments in which they work, including the perspectives of their organizations.

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Competent and Versatile: How Professional Accountants in Business Drive Sustainable Success

Evaluating and Improving Internal Control in Organizations

 

Organizational needs are evolving faster than ever, and professional accountants need to adapt to these changes to best serve their employers, and maintain relevance and public trust. With this new publication, the PAIB Committee promotes the diverse contributions of professional accountants as creators, enablers, preservers, and reporters of sustainable value in leadership, management, analyst, and controller roles. These roles go far beyond the stereotypical perceptions of accountants and demonstrate to employers how they can capitalize on professional accountants' training, knowledge, and skillsets.

This proposed International Good Practice Guidance is designed to establish a benchmark for good practice in maintaining effective internal control in response to risk, and provide principles-based guidance that focuses on the role of PAIBs and how they can support their organizations in evaluating and improving internal control as an integrated part of the organization’s governance, risk management, and internal control systems, as well as help create a cycle of continuous improvement for internal control systems.

 

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