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IFAC FOCUS AREAS
- Accountability. Now.
- Adoption of International Standards
- Developing the Global Profession
- Global Representation and Advocacy
- Professional Accountants in Business
- Small and Medium Practices
Independent Standard-Setting Boards
The International Auditing and Assurance Standards Board sets high-quality international standards for auditing, assurance, and quality control that strengthen public confidence in the global profession.
The International Accounting Education Standards Board establishes standards, in the area of professional accounting education, that prescribe technical competence and professional skills, values, ethics, and attitudes.
The International Ethics Standards Board for Accountants sets high-quality, internationally appropriate ethics standards for professional accountants, including auditor independence requirements.
The International Public Sector Accounting Standards Board develops standards, guidance, and resources for use by public sector entities around the world for preparation of general purpose financial statements.
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Finance Leadership & Development
Professional accountants need to respond to the continually changing expectations of their organizations, the financial markets, and society. In addition, many accountants aspire to finance leadership roles, such as chief financial officer (CFO). As a result, they must fulfill their traditional responsibilities, while increasing their support of strategic and operational decision-making. Through education, life-long learning, and development, they must acquire the right mixture of skills, experiences, and attitudes, including leadership, strategy, business, management, and interpersonal skills. Read More
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The CGMA Competency Framework defines four knowledge areas that finance professionals need to drive their organisations’ success. The framework, released Thursday, also offers employers and management accountants a guide for the assessment of the skills needed for current and future roles.
The CGMA Competency Framework is designed to help management accountants and their employers understand the knowledge requirements and assess the skills needed for both current and desired roles. The framework is underpinned by the need for objectivity, integrity, and ethical behaviour, and includes a commitment to continuously acquire new skills and knowledge.
This policy proposal maps out a three-stage reform process to accelerate financial discipline across the UK central government (Whitehall) and calls on politicians from all political parties to adopt certain actions.
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