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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
Features the recommendation from 25 prominent business leaders on what should be done to effectively improve governance (including risk management and internal control), the financial reporting process, audit, and the usefulness of business reports in the aftermath of the financial crisis of 2008. The report provides a summary of interviewees' recommendations in each area and highlights some of IFAC's related initiatives.
Examines challenges of making public sector performance management and how to better align policy to outcomes.
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.
Investigates what a long-term approach looks like in practice and the challenges faced by companies that want to lengthen their horizons and create sustainable enterprises.
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.
October 28, 2014 - Public Finance International
October 27, 2014 - Today Online
October 7, 2014 - Financial Times
September 17, 2014 - Forbes
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