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Global Accountancy Profession Development Project Gallery Brochure

A World Congress of Accountants Initiative
Nov 10, 2014 | Surveys & Reports

Where accountancy flourishes, economies grow.

High-quality business reporting provided by a robust and well-functioning accountancy profession composed of competent and capable accounting professionals contributes significantly to a sound global financial structure. Professional accountancy organizations (PAOs) are essential for the sustainability of the accountancy profession. They hold the power to advance society, further national economic growth, and enhance development assistance.

The global need for development of the accountancy profession is vast—IFAC estimates that it will take in excess of US$100 million over 30+ years to resolve this need in full. This significant need emphasizes the importance of global coordination of capacity-building efforts.

MOSAIC (Memorandum of Understanding to Strengthen Accountancy and Improve Collaboration) provides a platform for global coordination. In its fifth year, MOSAIC has 13 signatories committed to establishing an aligned approach to increase the capacity of PAOs and improve the quality of financial management systems in emerging economies.

The Global Accountancy Profession Development Project Gallery at the World Congress of Accountants 2014, and this accompanying brochure, provide examples of capacity-building initiatives from around the world.  IFAC received a wealth of diverse submissions in response to our invitation for descriptions of such initiatives; we have summarized them for the project gallery and brochure. It should be noted that the project gallery is not intended to be a complete picture of all capacity building initiatives around the world; additionally, our summaries rely on our interpretation of the submissions, and we recognize we may not have understood the full scope of the initiatives.

Finally, IFAC and the World Bank have launched a new website. The website brings together a wealth of information and resources from many different sources on five key topics—PAO capacity building, international standards, legislation and regulation, education and certification, and public sector financial management—and, ultimately, will include the information collected for the project gallery. We invite you to submit any corrections or additional information for inclusion in the newly launched website.

We hope the project gallery, brochure, and website will facilitate coordination of capacity building efforts, enable learning networks, and showcase successes to donors and the development community. We also hope to inspire you and your organization to become involved in capacity building and support of the development of the accountancy profession in your local jurisdictions as well as around the world.

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