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The Future of the Accountancy Profession

(Colombo, Sri Lanka)

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I have been asked to speak to you today about the future of the accountancy profession. While our past success as a profession is a good foundation for the future, predicting the future simply by looking at the past assumes that conditions remain constant. That is like driving a car by looking only in the rear view mirror!

Conditions certainly are not remaining constant. The environment in which we work has changed dramatically in the last few years and we are likely to see more significant changes in the upcoming years. Our duty to the public interest is to look clearly ahead, while ensuring that we do not forget the lessons of history. IFAC's mission is fundamental to the future of our profession because our profession will have a future if and only if it serves, and is seen to serve, the public interest above all else. This evening, I will consider what future the profession might have and what IFAC is doing to bring about a successful future.

Prepared by IFAC's Communications Department. Contact communications@ifac.org for further information.

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