Sustainable economic development—in both developed and emerging economies—depends on a strong financial infrastructure, including standards, regulation, and human capacity. Promoting and facilitating the development of the accountancy profession around the world is a key component of IFAC’s mission.

Through the Professional Accountancy Organization Development Committee (formerly the Developing Nations Committee, or DNC), IFAC supports the development of professional accountancy bodies—working to strengthen existing national and regional organizations and help establish ones where they do not exist. It does this through mentoring programs, outreach initiatives, and other support activities. The committee also helps with accountancy capacity building and skill development, and raises awareness of the need for and role of accounting technicians, especially in developing nations.

In addition, the PAO Development Committee liaises with the donor community, governments, and other stakeholders to increase the capacity of the accountancy profession in developing and emerging economies. Over the past three years, the committee has developed excellent working relationships with organizations such as the World Bank, the African Development Bank, the Inter-American Development Bank, and the Organization for Economic Co-operation and Development (OECD).