Press Releases/News Alerts
Nov 16, 2011
New York, New York
IFAC Presents Prestigious International Gold Service Award at Its Annual Council Meeting
The International Federation of Accountants (IFAC), the global organization for the accountancy profession with members and associates in 127 countries, today presented the IFAC International Gold Service Award to Sir David Tweedie and Stephen Zeff. The awards were presented at IFAC’s annual Council Meeting in Berlin, Germany, by Göran Tidström, president of IFAC.
The IFAC International Gold Service Award recognizes outstanding contributions to the accountancy profession.
In his remarks, Mr. Tidström highlighted Sir David Tweedie’s substantial contributions to convergence and to restoring confidence in financial reporting in the wake of the global financial crisis. In particular, in his role as chairman of the International Accounting Standards Board (IASB), he was tireless in promoting the adoption and implementation of International Financial Reporting Standards (IFRS) as the first truly global, high-quality set of accounting standards. He led the IASB during the implementation of IFRS by the European Union in 2005 and the development and publication of IFRS for Small- and Medium-Sized Entities (SMEs) in 2009. His work has helped improve accounting practices around the world, especially in countries where there is no tradition of accounting standards.
Tidström also highlighted the important contributions made by Stephen Zeff, a professor at Rice University, to the understanding of how the accounting profession, and financial reporting in particular, has developed internationally in recent decades. Zeff is a leading international expert on the history of financial reporting, and his historical perspective reflects several themes, among them the historical development of the standard-setting process, the evolution of accounting thought, and the maturing of the profession and practice of auditing. His research and published work addressing the unique problems and challenges confronting the accountancy profession has contributed greatly to the profession’s development worldwide.
“I am honored to present the IFAC International Gold Service Award to Sir David Tweedie and Stephen Zeff,” said Göran Tidström. “Their dedication and achievements have strengthened the profession internationally and exemplify IFAC’s vision: that the global accountancy profession is recognized as a valued leader in the development of strong and sustainable organizations, financial markets, and economies.”
About the IFAC International Gold Service Award
The IFAC International Gold Service Award was created by the IFAC Council in 2010 to recognize outstanding individual contributions to the accountancy profession.
IFAC is the global organization for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. It is comprised of 167 members and associates in 127 countries and jurisdictions, representing approximately 2.5 million accountants in public practice, education, government service, industry, and commerce.
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