Anne-Marie Vitale is the chair of the International Panel on Accountancy Education and the former chair of the International Accounting Education Standards Board. 

As a former PwC Partner and accounting and auditing leader in PwC’s Office of the General Counsel, Ms. Vitale successfully mitigated firm-wide risk through the defense of high-stakes regulatory and litigation matters.  As the U.S. Assurance Learning and Development leader, she developed the strategy and oversaw its execution for thousands of professionals using innovative approaches to increase engagement.  As an audit partner, Anne-Marie provided guidance to clients on complex transactions and financial reporting, helping them navigate through significant events. 

Ms. Vitale is a certified public accountant and directorship certified by the National Association of Corporate Directors.  She also is on the Board of Directors of the Silicon Valley Directors’ Exchange, a non-profit organization that provides a forum for education and current issues impacting directors of public and private companies. Ms. Vitale has an MBA with an emphasis in finance from the University of San Diego (US) and a Bachelor of Science in Combined Science from Santa Clara University (US).  She also completed courses at Harvard Business School related to governance and artificial intelligence.   

Presentation given at the South African Institute of Professional Accountants (SAIPA) National Conference detailing the current status of integrated reporting globally and in Africa and how the issue is playing out for small- and medium-sized entities (SMEs).

Fayezul Choudhury began life as an accountant because it gave him the footing he needed to work in business. After a 25-year hiatus at the World Bank he will return to the profession taking on the role of IFAC chief executive. Nicola Maher catches up with him before this next chapter begins early next year.

(The Accountant website) 

In the latest issue of The Chartered Accountant, the member body publication for the Institute of Chartered Accountants of India, IFAC President Goran Tidström presents the IFAC perspective on the role of accountancy profession in the globalized world.

The International Ethics Standards Board for Accountants (IESBA) today released for public exposure a proposed change to the definition of “those charged with governance” in the IESBA Code of Ethics for Professional Accountants (the Code).

The objectives of the change are to more closely align the definition of “those charged with governance” in the Code with that in the IAASB’s International Standard on Auditing (ISA) 260, Communication with Those Charged with Governance, and to eliminate any confusion as to how it is defined. The IESBA is of the opinion that the proposals do not call for any change in systems or common practice, should they be approved.

The change specifically aims to clarify that a subgroup, such as an audit committee, may assist the governing body in meeting its responsibilities. In those cases, the auditor shall determine with whom within the entity’s governance structure to communicate.

“Through this Exposure Draft, the IESBA seeks to ascertain whether the proposed change to the definition adequately clarifies the term ‘those charged with governance.’ The IESBA believes this will contribute to more consistent application of the Code, which is critical to our mission to support the global adoption and implementation of the Code,” said Ken Dakdduk, chair of the IESBA.

How to Comment
The IESBA invites all stakeholders to comment on its proposals in the Exposure Draft, Proposed Change to the Definition of “Those Charged with Governance.” To submit a comment, visit the IESBA website at www.ethicsboard.org. Comments on the Exposure Draft are requested by October 31, 2012.

About the IESBA
The International Ethics Standards Board for Accountants (IESBA) is an independent standard-setting board that develops and issues, in the public interest, high-quality ethical standards and other pronouncements for professional accountants worldwide. Through its activities, the IESBA develops the Code of Ethics for Professional Accountants, which establishes ethical requirements for professional accountants. The structures and processes that support the operations of the IESBA are facilitated by IFAC. Please visit www.ethicsboard.org for more information.

About IFAC
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 167 members and associates in 127 countries and jurisdictions, representing approximately 2.5 million accountants in public practice, education, government service, industry, and commerce.

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IES 7 prescribes continuing professional development (CPD) for professional accountants to develop and maintain their professional competence so as to provide high-quality services to clients, employers, and other stakeholders.  It is the first standard of the suite of eight IESs to be released in a series of planned revisions over the coming 18 months.

Complexity and pace of change of regulations, in particular tax requirements, topped the list of challenges faced by small- and medium-sized accountancy practices (SMPs) and their small business clients in the first half of 2012, according to the SMP Quick Poll results released today by IFAC.

Keeping up with new regulations and pressure to lower fees were the top two challenges for practitioners. Their clients face similar challenges, according to the SMPs polled, with burden of regulation topping the list and three economic factors—pressure to lower prices, economic uncertainty, and difficulties accessing finance—nearly tied as the next biggest challenges.

“The results are critical to IFAC and its member bodies gaining a deeper understanding of the challenges and opportunities faced by SMPs globally,” said SMP Committee Chair Giancarlo Attolini. “We were very pleased with the high response rate to this survey, which is testimony to the fact that our member bodies, who heavily promoted the poll, are just as concerned about SMPs as we are.”

The poll also included questions on business drivers and outlook. For nearly half the respondents, business from new clients is the main driver of growth by a wide margin with less than half as many respondents citing increased revenue from existing clients as their main driver of growth. However, when asked about performance expectations, the largest portion of practitioners expect no change in business in the current year compared with 2011.

See the complete report including selected results broken down by size of practice and region in the IFAC SMP Quick Poll: May–June Results.

The mid-year 2012 poll received 3,678 responses, 50% more than the last edition of the poll in December 2011. The poll, intended to take a snapshot of key challenges and trends influencing SMPs globally, was conducted in 15 languages from May 7 to June 14, 2012. IFAC wishes to thank the many member bodies and regional organizations that translated and/or helped promote the poll to their members.

About the SMP Committee
The SMP Committee of the International Federation of Accountants (IFAC) represents the interests of professional accountants operating in small- and medium-sized practices (SMPs). The committee develops guidance and tools and works to ensure the needs of the SMPs are considered by standard setters, regulators, and policy makers. The committee also speaks out on behalf of SMPs to raise awareness of their role and value, especially in supporting SMEs, and the importance of the small business sector overall.

About IFAC
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 167 members and associates in 127 countries and jurisdictions, representing approximately 2.5 million accountants in public practice, education, government service, industry, and commerce.

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This report provides a summary and, where appropriate, analysis and commentary including possible limitations of the data from the poll conducted May 7-June 14, 2012. This edition of the poll received 3,678 responses and was conducted in 15 languages.

At the February 2012 Professional Accountancy Organization (PAO) Development Committee Meeting in Dubai, UAE, the committee held discussions on the development of PAOs throughout the Middle East region. Committee members, observers, and guests from national, regional, and global stakeholders participated in these discussions. Points made during the course of the meeting have been refined into this informal high-level guidance.