Globalization, Convergence and the Principles that Guide the Accountancy Profession

Fermí n del Valle | President, International Federation of Accountants

Jul 21, 2008 | Istanbul, Turkey | English

Good morning, ladies and gentlemen. I am honored to participate in the 12th World Congress of Accounting Historians here in Turkey. I am pleased to be back in Istanbul, which I had the pleasure of visiting in November 2006 for the 16th World Congress of Accountants. This city is the perfect location for a global discussion centering on history and business, as this is a place where civilization and commerce have some of their deepest roots.

I would like to extend my appreciation to Dr. Oktay Güvemli for inviting me to speak to you today.

As many of you are aware, IFAC is the global organization for the accountancy profession and is comprised of 157 members and associates in 123 countries and jurisdictions, representing more than 2.5 million accountants in public practice, industry, commerce, education, and government.

While IFAC itself is very young - we celebrated our 30th anniversary last year - the history of the accountancy profession stretches back centuries. The military museum where we are meeting is featuring a special exhibition on accounting from the Ottoman Empire, including documents on the Merdiban, or Stairs, method of accounting that was used as the state accounting system in the Middle East for more than 1,000 years.

The tradition of a deeply committed accountancy profession in this country continues today. I would like to acknowledge IFAC's two member bodies here in Turkey: the Expert Accountants' Association of Turkey and the Union of Chambers of Certified Public Accountants of Turkey. In addition, I would like to recognize and thank the two Turkish members who currently serve as IFAC volunteers: Omer Duman who is a member of the International Public Sector Accounting Standards Board, and Masum Turker who is a member of the Small and Medium Practices Committee.

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