Few people would argue that a key objective of a sound and effective taxation system is to strengthen the public’s confidence that revenue authorities are collecting what is due and payable, and organizations and individuals are paying the amount that laws require and intend them to pay.
Scholars in emerging economies begin their careers as accounting educators and researchers with excitement and high aspirations. They eagerly accept the challenge of educating future generations of accounting professionals in developing countries.
Is it sufficient to wait until the next financial crisis hits and ask only: "where were the auditors?"
In recent years, there has been a belated recognition that government financial information is insufficient.
There has been much recent debate in many sectors of the economy and among politicians about the role of taxation in society, the extent to which tax planning is appropriate, and taxpayer behavior.
As a result of the International Integrated Reporting Council (IIRC)’s Framework being issued in December 2013, integrated reporting has truly begun to take off around the world.
In the public sector, the lack of transparency and accountability presents a major risk to the efficiency of capital markets, global financial stability, and long-term sustainability. We need to create greater public awareness among all levels of society.
As professional accountancy organizations (PAOs), IFAC member bodies serve the public interest in a variety of ways. They contribute to standard setting, regulation, quality assurance, education, examinations, corporate social responsibility, and much more.
International trade is the world’s growth engine, and today’s international trade agenda is an opportunity not to be missed by the accountancy profession.
Taxation is essential to the functioning of a society—indeed, it is a strong indication that “civilization” actually exists.