The Role of Professional Accountants in the Proper Functioning of Taxation Systems
by Russell Guthrie, IFAC Executive Director, Professional Relations and CFO | 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.
Throughout the world, accountants—with their technical expertise and professional and ethical training—play a key role in assisting client and employer taxpayers regarding tax obligations. A 2007 report by the Forum on Tax Administration (consisting of Tax Commissioners from 45 countries) acknowledged the crucial role that intermediaries such as accountants play in ensuring tax systems function properly.
So what role should accountants play?
Beyond Enhanced Reporting—The Next Step in Public Sector Financial Management
by Ken Warren, Chief Accounting Advisor, Treasury of the Government of New Zealand | September 16, 2014 |
In recent years, there has been a belated recognition that government financial information is insufficient. Indeed, the recent sovereign fiscal crises and the increasing realization that government welfare commitments, if not well managed, can outstrip those governments’ ability to tax, have led to an increased urgency for a richer suite of financial information. To properly report on public finances, all the obligations of governments, and their movements, need to be reported.
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.
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.
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.
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.