Viewpoints

Viewpoints

Making Financial Reporting Better: Strengthening the Financial Reporting Supply Chain

by Fayez Choudhury, CEO, IFAC | September 2, 2014 |

Is it sufficient to wait until the next financial crisis hits and ask only: "where were the auditors?"

Why financial reporting

Timely and meaningful information underpins the effective functioning of any organization. Organizational leadership use financial and non-financial information to manage and direct their operations, while external stakeholders—investors, suppliers, creditors, banks, and regulators—use it to make investment decisions, to undertake transactions with organizations with confidence, and to exercise regulatory oversight.

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Issuing a Challenge to the Profession: Preparing Today’s and Tomorrow’s Educators and Researchers in Emerging Economies

by Professor Katherine Schipper, Thomas F. Keller Professor of Accounting, Duke University, and Professor Donna Street, Mahrt Chair in Accounting, University of Dayton | August 19, 2014 | 1

Scholars in emerging economies begin their careers as accounting educators and researchers with excitement and high aspirations. They eagerly accept the challenge of educating future generations of accounting professionals in developing countries. They understand that the demand for well-trained accounting professionals is high, often exceeding the supply, and they are determined to have a positive effect—to make a difference.

 2 Recommended

Governments Can't Expect Others to Do What Only They Can—They Must Step Up and Cooperate on Taxation

by Russell Guthrie, Executive Director, Professional Relations, and CFO, IFAC | August 5, 2014 |

Few people would argue that a key objective of a sound and effective taxation system is to strengthen the public’s confidence that revenue authorities are collecting what is due and payable, and organizations and individuals are paying the amount that laws require and intend them to pay.

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Some Positive Aspects of the Statutory Audit Reform in Europe

by Yves Nicolas, President, and Cédric Gélard, Technical Director, CNCC | July 22, 2014 |

The final texts of the statutory audit reform (i.e., the Directive and the Regulation) have now been published in the official journal of the European Union, bringing to a close four years of intense discussions that may significantly change the shape of statutory audit in Europe.

 1 Recommended

The Cost of European Audit Legislation

by Jens Røder, Secretary General & CEO, Nordic Federation of Public Accountants | July 8, 2014 |

The Treaty of Lisbon, which came into effect in 2009, was designed to make the European community more effective, taking into account the perceived benefits accruing from full integration of the internal market.

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Shared Standard Setting in the Public Interest: A Strong Model

by Fayez Choudhury, CEO, IFAC | June 24, 2014 |

The last two decades have been a definitive era in the evolution of the accountancy profession. In the wake of major corporate scandals at the turn of the century, an international public debate arose on the need for more effective and well-considered regulation; this debate then reignited during the global financial and sovereign debt crises.

 1 Recommended

It’s Not Really about Bitcoin, It’s about Change

by Fayez Choudhury, CEO, IFAC | June 10, 2014 | 1

The accountancy profession plays an important role in promoting the growth of economies and the efficient operation of markets. In these times of rapid technological change, we should also be key players in the financial innovation taking place across society.

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It's Time for Sovereign Governments to Practice What They Preach

by Hon. David M. Walker, Former US Comptroller General | May 20, 2014 | 1

Political leaders and regulatory agencies in various countries and supra-national entities spend a lot of time focusing on the need for quality financial reporting by public companies.

 3 Recommended

The Significant Regulatory Developments that Will Shape the Accountancy Profession and Global Economy in the Near Future

by David Wright, Secretary General, IOSCO | May 6, 2014 |

We are more than halfway through year seven of the financial crisis. The massive G-20 effort, along with the Financial Stability Board (FSB) and global standard setters such as the International Organization of Securities Commissions (IOSCO), to reform global financial regulation and to ensure a safer and more sustainable financial system has made significant progress.

 2 Recommended

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. 

 1 Recommended

 

 

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