Professional accountants in business are diverse, working in commerce, industry, financial services, education, and the public and not-for-profit sectors as employees or advisers. Many are in a position of strategic or functional leadership or otherwise well-placed to collaborate with colleagues in other disciplines and help drive their organizations’ sustainable success.
Professional accountants support their organizations in a wide range of job functions, including leadership and management; operational; management accounting and control; and accounting and stakeholder communications.
The Professional Accountants in Business (PAIB) Committee provides leadership and guidance on relevant issues pertaining to professional accountants in business and the business environments in which they work. The PAIB Committee focuses on multiple topic areas: the roles, domain, and competencies of accountants in business; governance and ethics; sustainability and corporate responsibility; risk management and control; financial and performance management; and business reporting.
Developing a vision and roadmap for the finance professional and finance function is a journey requiring an iterative and experimental approach, supported by a development plan that incorporates significant thinking on a variety of topics. In an iterative workshop, the Professional Accountants in Business Committee explored how to develop a vision for the finance function and provided updates on current initiatives.
What is the impact of blockchain on accounting? This resource breaks down:
- The fundamental concepts in blockchain;
- A broad overview of developments in blockchain and how it can streamline processes and change business models; and
- The potential role of blockchain for finance and accounting professionals
For finance professionals to be viewed as business partners, they must contribute effectively to enterprise performance management (EPM) beyond traditional financial reporting and financial systems. This resource identifies why and how the finance function must evolve to support EPM, including:
- Why EPM is critical to the future of the profession
- How accountants in business and the finance function can drive effective PFM; and
- The four key enablers of EPM
Created as an overview and resource, this presentation addresses tech trends and their impact, and disruption, of accountancy and the finance function.
The presentation is available to IFAC member organization to share and/or customize.
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