The year 2014 has seen a flurry of international activity in Islamic finance with important issuances of Islamic securities—in the form of sovereign Sukūks—by the United Kingdom and Luxembourg in Europe, as well as...
As 2014 draws to a close, we would like to thank all the writers who have contributed to the inaugural year of the Global Knowledge Gateway.
In a public address for 2015, IFAC CEO Fayez Choudhury answers the question: what makes the accountancy profession resilient, viable, and strong? In a world that is rapidly globalizing, he says that trust and credibility are the keys. Mr. Choudhury emphasizes that the accountancy profession provides a level of technical expertise that must continue to keep pace with the increasing complexity of the times and the evolution of knowledge. He also stresses that ethics must continue to be at the foundation of the profession as accountancy is ultimately a public interest function. This must endure with the integrity, transparency, and reliability of the information that accountants provide.
Recognizing the trend toward global convergence and the increasing mobility of professional accountants, the International Accounting Education Standards Board™ (IAESB™) project to revise and redraft
Countries across the G-20 are facing a common set of imminent challenges including rapid population growth, growing international trade, and the urgent need to replace aging infrastructure.
Accountants are faced with many challenges that will affect the profession, such as changes in national regulatory frameworks or the influence of IT on auditing. It is crucial that accountants prepare for...
I have spoken and written extensively on the role of the modern corporation in society, reflecting on the reality that expectations from society on the role and responsibilities of corporations are rapidly
With the release of the International Integrated Reporting Council (IIRC)’s Framework in December 2013, many global organizations are realizing the value of integrated reporting. Yet, many corporations in...
In the run-up to its 2015 annual meeting in Davos, Switzerland, the World Economic Forum published a report on key economic risks that captured and highlighted the opinion of experts and global decision
Financial reporting fraud is relatively rare, but it remains a serious challenge. Research from the Committee of Sponsoring Organizations of the Treadway Commission (COSO) has indicated that the median