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IFAC Encourages Accountancy Profession to Engage Accountants in Business

Jul 27, 2016 | New York, New York | English

Recognizing the essential role of professional accountants in business in strong and sustainable organizations, financial markets, and economies, the International Federation of Accountants® (IFAC®) today released Engaging Professional Accountants in Business: How to Build a More Relevant PAO and Profession. The guidance will assist professional accountancy organizations (PAOs) in strengthening engagement with accountants in business, the public sector, and academia as a means to expand their reach, influence, and contribution.

“Professional accountants in business drive sustainable organizational success,” said Alta Prinsloo, IFAC Executive Director, Strategy, and Chief Operating Officer. “Their engagement at the global, regional, and local levels will enhance the relevance of the profession and help build a deeper engagement with business and government, ultimately supporting the profession’s contribution to stronger economies.”

Professional accountants in business represent a broad spectrum of expertise and work in many sectors across all types and sizes of organization. Their diversity is a strength and an opportunity, but can make it difficult for PAOs to connect with them. This lack of connection is a detriment to the individual accountants, the profession, the PAO, and—ultimately—the public interest. This guidance supports a stronger connection by incorporating these members into the PAO’s governance and decision-making structures.

The guidance was developed as part of the PAO Capacity Building Series with the help of the IFAC Professional Accountants in Business Committee. It includes a case study from the Institute of Chartered Accountants of Pakistan.

About IFAC
The International Federation of Accountants® (IFAC®) is the global organization for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. IFAC is comprised of over 175 members and associates in over 130 countries and jurisdictions, representing almost 3 million accountants in public practice, education, government service, industry, and commerce.