Viewpoints

Viewpoints

Interconnected Global Risks: No Man, or Business, Is an Island
by Mervyn King, Chairman, International Integrated Reporting Council | April 16, 2014 |

The challenge of designing an economic model capable of identifying, and then responding to, systemic and interconnected risks is something the G-20 has been grappling with since the onset of the global financial crisis in 2008. It is also an urgent matter for businesses, which make up around half of the world’s largest economic entities. The concept of “connectivity” of information in a business context acts to bring together the different parts of a business in recognition of the interconnections between them. It forces a new kind of behavior—what we call “integrated thinking”—and is a central principle of integrated reporting, a new corporate reporting model being trialed in approximately 25 countries and embraced by companies as diverse as Hyundai, PepsiCo, National Australia Bank, and Unilever.

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CIMA’s Global Management Accounting Principles: Seeking Your Input
by Charles Tilley, Chief Executive, CIMA | March 27, 2014 | 1

The Chartered Institute of Management Accountants (CIMA) has launched a consultation on a set of Global Management Accounting Principles© and we would very much like your help. Unlike financial reporting, which has standards to guide its practice, there has been little authoritative guidance to help CFOs assess and improve the quality of the management accounting practices and processes used in their organizations.

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Déjà Vu All Over Again
by James S. Turley, former Global Chairman and CEO, EY | March 10, 2014 |

After the global financial crisis, the leaders of the G-20 countries called for global regulatory cooperation and collaboration, including the adoption of global accounting standards. 

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Introducing the IFAC Global Knowledge Gateway
by Fayez Choudhury, IFAC CEO | February 12, 2014 | 1

Welcome to the Global Knowledge Gateway, IFAC’s newly minted global hub for accountancy news, views, resources, and thought leadership from IFAC, our member organizations, and other notable groups and individuals. 

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Government Accounts: Clear and Present Danger
by Ian Ball, IFAC Principal Advisor and Former CEO | December 5, 2012 |

There is an emerging consensus that poor governmental reporting represents a threat to global financial stability and economic growth that must be addressed. A recent International Monetary Fund (IMF) paper is the latest to take this view.

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