For finance professionals to be viewed as business partners, they must contribute effectively to enterprise performance management (EPM) beyond traditional financial reporting and financial systems.
This resource identifies why and how the finance function must evolve to support EPM, including:
Why EPM is critical to the future of the profession
How accountants in business and the finance function can drive effective EPM; and
Developing a vision and roadmap for the finance professional and finance function is a journey requiring an iterative and experimental approach, supported by a development plan that incorporates significant thinking on a variety of topics.
In an iterative workshop, the Professional Accountants in Business Committee explored how to develop a vision for the finance function and provided updates on current initiatives, including:
This self-assessment evaluation tool is available for professional accountancy organizations (PAOs) to help take a strategic and practical approach to enhancing relevance for professional accountants in business (PAIB).
The International Federation of Accountants (IFAC) has released a new publication, Focusing on Performance, which is designed to raise awareness of the importance among PAOs to consider the suggested best governance practices and principles while reflecting on their current governance arrangements. The publication also features a self-assessment tool that PAOs can repeatedly utilize when reviewing the principles and their governance framework.
The Global Accountancy Profession’s Call for Action by G20 Countries
Global economic stability and transparency and the rebuilding of public trust will be greatly enhanced by a determined G20 push for stronger governance across all sectors. In advance of the G20 Summit 2017 in Hamburg, Germany on July 7-8, IFAC issued actionable recommendations for G20 countries that will support both the global economy and the G20’s 2017 objectives.
IFAC calls on the G20 and other key stakeholders in the global economy to collaborate on:
