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    Sep 06, 2011
    New York

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    PAIB Committee

     

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    PAIB eNews

    Welcome to IFAC's Professional Accountants in Business (PAIB) Committee eNews.

    In this Issue:

    1. PAIB Committee Publishes Competent and Versatile to Highlight Relevance of Professional Accountants
    2. Individualized Versions of Competent and Versatile Available for Professional Accountancy Organizations
    3. Call for Case Studies Highlighting the Roles of Professional Accountants
    4. CMA Canada Releases New 2020 Vision Paper
    5. Next PAIB Committee Meeting: Toronto, October 19-20, 2011

     

     

    1. PAIB Committee Publishes Competent and Versatile to Highlight Relevance of Professional Accountants

    Competent and Versatile: How Professional Accountants in Business Drive Sustainable Organizational Success was published by the PAIB Committee last month to support the global accountancy profession in responding to changing expectations of society, financial markets, and organizations, and promote the value of professional accountants in business to their organizations.

    Organizational needs are evolving faster than ever, and professional accountants need to adapt to these changes to best serve their employers, and maintain relevance. With this publication and the accompanying employer-focused brochure, the PAIB Committee is striving to support the global accountancy profession and help professional accountants and their organizations create long-term sustainable success.

    Eight drivers of sustainable organizational success provide the basis for understanding how the global accountancy profession needs to support the development of professional accountants. The expected key areas of competency for professional accountants are broken down within each of these drivers:

    • A customer and stakeholder focus;
    • Effective leadership and strategy;
    • Integrated governance and risk and control;
    • Innovative and adaptive capability;
    • Financial management;
    • People and talent management;
    • Operational excellence; and
    • Effective and transparent communication.

    The key areas of competency are also useful in helping professional accountants to determine relevant education and training to support their career aims.

    Competent and Versatile is also a tool for promoting the diverse contributions of professional accountants as creators, enablers, preservers, and reporters of sustainable value in leadership, management, analyst, and controller roles. These roles go far beyond the stereotypical perceptions of accountants and demonstrate to employers how they can capitalize on professional accountants' training, knowledge, and skillsets.

     


    2. Individualized Versions of
    Competent and Versatile Available for Professional Accountancy Organizations

    In order to assist professional accountancy organizations to make the most of the employer-focused version of Competent and Versatile, the PAIB Committee is offering to work with IFAC members and associates to allow for local customization of the brochure.

    For example, CPA Australia and the Institute of Chartered Accountants in Australia (ICAA) jointly branded the brochure and made it available at the Confederation of Asian and Pacific Accountants Conference in Brisbane, Australia this week.

    If your organization is interested in taking advantage of this option, please visit the Translations and Permissions page of the IFAC website for a sample permission request, which will need to be completed and submitted to permissions@ifac.org. If you have any questions, please contact Stathis Gould.

     

    3. Call for Case Studies Highlighting the Roles of Professional Accountants

    Following the publication of Competent and Versatile, the PAIB Committee is in the process of bringing together some practical examples of how professional accountants are supporting their organizations in the eight drivers of sustainable organizational success listed above. If you have a recommendation for a brief case study, or would be interested in participating yourself, please contact Vincent Tophoff.

     

     

    4. CMA Canada 2020 Vision Paper

    CMA Canada recently released Forecasting the Future Role of the Management Accountant, its 2020 Vision paper. The paper identifies scenario planning as the defining organizational capability and a primary management accountant skill for the coming decade. The paper also explores the major activities seen as essential to the management accountant's role in 2020, including strategic risk management fueled by (a) technology-enabled data analysis applied to a broad collection of indicators; (b) increasingly agile forecasting and planning processes; and (c) fact-based decision making. The research methodology for this paper included scrutiny of recently published projections and analyses, interviews, and a roundtable discussion held in September 2010, in which IFAC participated.

     

    5.  Next PAIB Committee Meeting: Toronto, October 19-20, 2011

    The PAIB Committee's next meeting will be hosted by Canadian Institute of Chartered Accountants and CMA Canada in Toronto, October 19-20. In 2012, the committee will meet in New Delhi, March 13-14, and participate in the Institute of Cost and Works Accountants of India's annual congress and CFO summit.

     

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