Countries across the G-20 are facing a common set of imminent challenges including rapid population growth, growing international trade, and the urgent need to replace aging infrastructure.
Recognizing the trend toward global convergence and the increasing mobility of professional accountants, the International Accounting Education Standards Board™ (IAESB™) project to revise and redraft
by Fayez Choudhury, Chief Executive Officer, IFAC | January 13, 2015 |
In a public address for 2015, IFAC CEO Fayez Choudhury answers the question: what makes the accountancy profession resilient, viable, and strong? In a world that is rapidly globalizing, he says that trust and credibility are the keys. Mr. Choudhury emphasizes that the accountancy profession provides a level of technical expertise that must continue to keep pace with the increasing complexity of the times and the evolution of knowledge. He also stresses that ethics must continue to be at the foundation of the profession as accountancy is ultimately a public interest function. This must endure with the integrity, transparency, and reliability of the information that accountants provide.
The year 2014 has seen a flurry of international activity in Islamic finance with important issuances of Islamic securities—in the form of sovereign Sukūks—by the United Kingdom and Luxembourg in Europe, as well as...
The final plenary session held at the recent World Congress of Accountants in Rome, on Integrated Thinking, The Key to Improved Performance and Value Creation, clearly demonstrated how an...
Taxation is essential to the functioning of a society—indeed, it is a strong indication that “civilization” actually exists.
International trade is the world’s growth engine, and today’s international trade agenda is an opportunity not to be missed by the accountancy profession.
As professional accountancy organizations (PAOs), IFAC member bodies serve the public interest in a variety of ways. They contribute to standard setting, regulation, quality assurance, education, examinations, corporate social responsibility, and much more.
In the public sector, the lack of transparency and accountability presents a major risk to the efficiency of capital markets, global financial stability, and long-term sustainability. We need to create greater public awareness among all levels of society.