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.
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.