Viewpoints

Viewpoints

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. In addition, European businesses, including service providers and institutions, were to become more effective and efficient and able to operate seamlessly within the European Union.

These were great visions, which European legislators were committed to following, the purpose being to make Europe more competitive in the global arena.

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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.

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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. 

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CIMA’s Global Management Accounting Principles: Seeking Your Input

by Charles Tilley, Chief Executive, CIMA | March 27, 2014 | 1

The Chartered Institute of Management Accountants (CIMA) has launched a consultation on a set of Global Management Accounting Principles© and we would very much like your help.

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Déjà Vu All Over Again

by James S. Turley, former Global Chairman and CEO, EY | March 10, 2014 |

After the global financial crisis, the leaders of the G-20 countries called for global regulatory cooperation and collaboration, including the adoption of global accounting standards. 

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Introducing the IFAC Global Knowledge Gateway

by Fayez Choudhury, IFAC CEO | February 12, 2014 | 1

Welcome to the Global Knowledge Gateway, IFAC’s newly minted global hub for accountancy news, views, resources, and thought leadership from IFAC, our member organizations, and other notable groups and individuals. 

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