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The recent financial and economic crises exposed many corporate governance weaknesses—but, at the same time, they created momentum for change. Effective governance encourages better organizational decision-making, accountability, and robust scrutiny of organizational performance. Accountants are in an excellent position to ensure that governance is integrated into the very DNA of their organizations, which has been identified as critical to its effectiveness. Read More
Includes a chapter by IFAC summarizing how professional accountants support effective governance in organizations and listing various actions that IFAC has undertaken in this space.
This statement on the role of the CFO in local government describes the role and the responsibilities of CFOs in local government.
Drawing on lessons learned during the financial crisis, this publication set out best practices for banking organizations. Key areas of particular focus include: the role of the board; the qualifications and composition of the board; the importance of an independent risk management function, including a chief risk officer or equivalent; the importance of monitoring risks on an ongoing firm-wide and individual entity basis; the board's oversight of the compensation systems; and the board and senior management's understanding of the bank's operational structure and risks.
Executive pay is under intense scrutiny internationally by governments, the media, and social commentators. This paper offers principles that should underpin remuneration schemes, reassuring stakeholders that performance-related pay reinforces behavior that creates long-term sustainability.
This report highlights the core responsibilities of the CFO role in the public sector, as well as the personal skills and professional standards that are crucial to success in the role.
Evaluating and Improving Governance in Organizations
January 31, 2009 - IFAC
Includes a framework-consisting of a series of fundamental principles, supporting guidance, and references-for how professional accountants can contribute to evaluating and improving governance in organizations.
Principles to promote good governance in the entire procurement cycle, from needs assessment to contract management. Also includes a checklist for implementing an integrity framework throughout the entire public procurement cycle and provides a map of risks that can help auditors prevent, as well as detect, fraud and corruption.
September 17, 2014 - Forbes
September 15, 2014 - Reuters
September 15, 2014 - The Independent
September 4, 2014 - International Business Times
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