PAO Development Committee Events in 2011
On November 30 in Busan, Korea, IFAC and the international donor and development community signed MOSAIC: Memorandum of Understanding to Strengthen Accountancy and Improve Collaboration. MOSAIC sets out the basis for improving cooperation and provides foundations for increasing the capacity of professional accountancy organizations and improving the quality of financial management systems in emerging and developing economies. This new agreement will significantly contribute to the recently established New Global Partnership for Effective Development Cooperation.The signing ceremony took place at the Fourth High Level Forum on Aid Effectiveness, hosted by the Organisation for Economic Co-operation and Development and convened to review global progress in improving the impact and value of development aid and to commit to further ensure that aid reduces poverty and support progress towards the Millennium Development Goals.
On November 28th and 29th 2011 IFAC staff participated in “The Meeting for CIS and Baltic States Professional Bodies/Standard Setters,” the key aim of which is promoting adoption and implementation of high-quality international standards, as promulgated by the IAASB and the IASB. More than 70 delegates from 11 countries, including Professional Accountancy Organization (PAO) representatives and regulators involved in national standard setting will have a unique opportunity to meet with the chairs and staff members from the IAASB and the IASB, as well as to address any issues related to IFAC membership and translation of the international pronouncements.
On October 4, PAO Development Committee Chair Deborah Williams attended the launch of the Organisation for Economic Co-operation and Development (OECD)’s Development Co-operation Report 2011. The launch also marked the 50th anniversary of the Development Assistance Committee, which groups the world’s main donors, defining and monitoring global standards in key areas of development. The full report is available on the OECD’s website.
Due to recent changes in leadership in the Lebanese Association of Certified Public Accountants (LACPA), IFAC Staff were invited to visit Beirut, Lebanon to educate the Board of Directors and the general LACPA membership regarding the Statements of Membership Obligations (SMOs) and the IFAC Compliance Program Action Plan process. While in Lebanon, IFAC Staff held a number of meetings with LACPA leadership, general membership, and key counterparts of LACPA. More information on the event is available here.
United Arab Emirates
On September 20, 2011 the PAO Development Committee, in coordination with the Saudi Organization for Certified Public Accountants (SOCPA) and with the generous support of the Institute of Chartered Accountants in England and Wales (ICAEW), sponsored the Middle East and North Africa PAO Development Roundtable Workshop, which brought together PAO representatives from the region to discuss the importance of the IFAC Action Planning process and engage in active dialogue and debate on current issues facing the profession, as well as providing the opportunity to seek guidance from IFAC staff and representatives on PAO development issues.
IFAC Staff attended the III Eurasian Form of the Accountants and Auditors, The importance and the role of the application of international financial reporting standards and international audit standards in the increasing the transparency of the economy, held 15-17 September, 2011. IFAC worked with member bodies on participation in the IFAC Compliance Program and on PAO development issues.