Global Developments in the Accountancy Profession
Keynote Address 3
Ian Ball | IFAC CEO
Jun 18, 2011 | at HKICPA – Hong Kong as a World Capital Market – What the Future Holds for Hong Kong’s CPAs | Hong Kong | English
Thank you, Chris, for the introduction. Good morning ladies and gentleman. It is a pleasure being here today and I want to thank you all for coming so early on a Saturday morning. The topic for my comments today is global developments in the accountancy profession. While I will focus on global developments, the issues I will address certainly have local implications.
The global economy is still emerging from a crisis that has tested the international financial system to its limits. The most critical phase of the crisis may, and I stress may, have passed, but recovery remains fragile, and the impact of the crisis continues to be being felt around the world. As a profession we need to think about both how we can contribute to the avoidance of future crises, and how the current crisis will affect our role in the economy and society going forward.
This morning I will introduce the International Federation of Accountants (IFAC), outline the diversity of our profession, describe very briefly the nature of regulatory developments in recent years, and identify some likely developments for the future