Terms of Reference

  • Terms of Reference

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    JANUARY 2012

    The PAIB Committee provides advice on relevant issues pertaining to professional accountants in business and  the business environment in which they work, and the perspectives of their sponsoring organization(s). Professional accountants in business are employees, consultants, and self-employed owner-managers or advisers in commerce, industry, financial services, education, and the public and not-for-profit sectors.

    The IFAC PAIB vision recognizes the global accountancy profession as a valued leader in the development of strong and sustainable organizations, financial markets and economies:

    Global  recognition  of  professional  accountants  as  business  leaders  and  strategic partners in building long-term sustainable organizational success.


    The PAIB Committee recommends IFAC activities that achieve the following strategic objective:

    To promote and contribute to the value of professional accountants in business.

    To achieve this objective, its activities focus on:

    1. Increasing awareness of the important roles professional accountants play in creating, enabling, preserving, and reporting value for organizations and their stakeholders; and

    2. Supporting Member Bodies in enhancing the competence of their members to fulfill those roles. This is achieved by facilitating the communication and sharing of good practices and ideas.


    To fulfill the strategic objective the PAIB Committee develops the following:

    • International Good Practice Guidance (IGPG):  These publications foster a common and consistent  approach to the work of professional accountants in areas of international and strategic importance; they  focus on the role of professional accountants in business and emphasize evaluation and improvement of the areas of international and strategic importance. The Preface to IGPGs outlines the primary purpose and due process of the PAIB Committee’s International Good Practice Guidance program.
    • Information Papers and Special Reports: These provide a detailed investigation into a particular subject  of relevance to professional accountants in business, and sometimes include an interview-based approach.
    • Consultation or Discussion Papers: These seek comments from interested parties on the issues described, or promote discussion on issues affecting professional accountants in business.
    • Web-based  resource  centers:  These  centers  synthesize  and  highlight  key  issues  and considerations for professional accountants in business and facilitate the sharing of Member Body and other resources and information.
    • Forums and roundtables of experts and interested parties: These discuss key trends, issues, and emerging themes, their impact on the global profession, and how best to respond to and support the profession.

    All of the PAIB Committee’s publications are written in the English language.


    The PAIB  Committee  develops  and  implements  a  PAIB  strategy  and  work  plan  which  is submitted to the IFAC Board for approval.

    The PAIB Committee establishes delivery-focused task forces, chaired by a PAIB Committee member, that cover the specific topic areas that have been deemed priority areas of focus in the strategy and work plan. The  PAIB Committee approves publications developed by the task forces.

    Expert participation in task forces may be drawn from outside the PAIB Committee for example from Member  Bodies or non-IFAC sources (e.g., universities, consultants, accountancy firms, and other PAIBs).


    The appointment and terms of service of the PAIB Committee chair is in accordance with the IFAC Constitution and Bylaws.


    The PAIB Committee will consist of up to 18 members whose appointment and terms of service are 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 Nominating Committee selection process considers factors including recent and up-to-date knowledge of practice, geographic representation, sector of the accounting profession, size of organization, and level of economic development.

    Observers may from time to time attend and participate at meetings, or parts thereof, subject to the approval of the chair. Observers may be allowed to speak, at the Chair’s discretion, but have no voting privileges.


    The standard term for PAIB 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 of at least two-thirds of the appointed members of the committee in person or by simultaneous telecommunications link.

    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 committee can also use ballots where it is considered appropriate and necessary. The results of the ballot will be included in the minutes of the next full meeting.


    The PAIB 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 PAIB Committee at least every three years.



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