As a result of the International Integrated Reporting Council (IIRC)’s Framework being issued in December 2013, integrated reporting has truly begun to take off around the world.
by Russell Guthrie, Executive Director, Professional Relations, and CFO, IFAC | September 30, 2014 |
There has been much recent debate in many sectors of the economy and among politicians about the role of taxation in society, the extent to which tax planning is appropriate, and taxpayer behavior.
In recent years, there has been a belated recognition that government financial information is insufficient.
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.
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.
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.
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.
by Fayez Choudhury, Chief Executive Officer, 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.
by Fayez Choudhury, Chief Executive Officer, IFAC | June 10, 2014 |
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.