Following September's web meeting, the Professional Accountants in Business Committee published a meeting summary report, Professional Accountants as Business Partners and Value Enablers.
The report shares the collective knowledge, ideas, and experience of the committee regarding the role of professional accountants as business leaders and value enablers for organizations, examining:
- Enterprise Performance Management;
- The Role of Finance Leaders and Business Partners in Technology;
- Effective Accountant Involvement in Risk Management;
- Creating and Communicating Value through Integrated Reporting and Thinking;
- PAO Support Tools;
- Audit Quality and Audit Committee Effectiveness; and
- Professional Skepticism
IFAC and the Committee are working to drive forward the major initiatives covered in the report. Professional accountancy organizations’ support and input into these initiatives is requested and most welcome. To achieve their mission and objectives, most IFAC member organizations continue to focus on the success of their members working in business and the public sector. However, it is important to continue raising the bar and learning from others so that their membership have the skills they need throughout their careers. In this fast changing world, ongoing skill and competency acquisition and development is more important than ever. Relevance is critical to the reputation of both individual members and their PAOs.
The IFAC accountants in business agenda addresses the areas of opportunity and risk for the profession in the 21st Century, while also enhancing the attractiveness of the profession. The accountancy profession needs to continually ensure our skills and competency remain relevant and support effective business partnership.