The International Ethics Standards Board for Accountants (IESBA) recently held three global webinars on the upcoming Tax Planning and Related Services exposure draft (ED). The ED was released on February 17, and comments are requested by May 18.

During the webinars, members of the Tax Planning and Related Services Task Force explained the key proposals in the ED, among other matters, including:

• Compliance with the fundamental principles, highlighting the types of threats that might be created when providing tax planning activities.
• Understanding the applicable tax laws and regulations, the legislative intent behind the relevant laws and regulations, and the economic purpose and substance of the transaction.
• Exercising professional judgment to establish a credible basis for the tax planning arrangement in circumstances of uncertainty. This includes a consideration of the reputational, commercial, and wider economic consequences arising from the way stakeholders might view the arrangement.
• Communicating relevant matters or concerns with the individual client, management, or those charged with governance, including as part of an escalation process where necessary.
• Developing an appropriate level of documentation throughout the process to substantiate the judgments, decisions, and actions.

Watch the recordings now and learn more about these important proposals. 

Monday, February 27 | 10 am – 11 am EST | Click here, led by Jens Poll

Tuesday, February 28 | 4 pm – 5 pm EST | Click here, led by Andrew Mintzer

Tuesday, February 28 | 9 pm – 10 pm EST | Click here, led by Channa Wijesinghe

Gaylen R. Hansen has been reappointed as the chair of the Consultative Advisory Group (CAG) to the International Ethics Standards Board for Accountants (IESBA), effective October 1, 2022. Mr. Hansen’s reappointment, approved by the Public Interest Oversight Board, follows his re-election by IESBA CAG members at the September 2022 CAG meeting.

The IESBA CAG is an independent body comprising regulators, preparers, international investors and user groups, and other stakeholders interested in developing and maintaining high-quality international ethics (including independence) standards for professional accountants and designed to serve the public interest.

"It is an honor to be re-elected by my colleagues," said Mr. Hansen. "I am confident that the IESBA CAG will continue to play an important role in providing invaluable advice not only on IESBA's key projects for the coming year but also on its future strategic vision and goals."

"Under Gaylen’s stewardship, the CAG has made significant contributions to the IESBA's standard-setting projects. The CAG’s perspectives, insights, and suggestions have enriched the IESBA’s considerations and deliberations in the broadest possible sense, enabling the board to advance high-quality ethics and independence standards in the public interest," said Gabriela Figueiredo Dias, IESBA Chair.

Mr. Hansen will serve as IESBA CAG Chair until December 31, 2023, when the IESBA CAG and the International Auditing and Assurance Standards Board (IAASB) CAG will both be transitioned to a new IAASB and IESBA Stakeholder Advisory Council (SAC). The creation of the SAC¹  is one of the outcomes of implementing the Monitoring Group’s recommendations regarding strengthening the international audit and ethics standard-setting system.

About Mr. Hansen

Mr. Hansen retired as an audit partner of EKS&H in 2018 following over forty years of engagement in the accounting profession. His career has encompassed lengthy periods in public practice as an auditor and quality control partner and briefly as the controller of a small private company that went public during his tenure. Since 2010, he has represented the National Association of State Boards of Accountancy (NASBA) on the Consultative Advisory Groups (CAGs) for the IESBA and the IAASB.

Previously he has served on the AICPA's Auditing Standards Board, which promulgates practice standards for the audits of all U.S. non-issuers, as a chair of NASBA and on the Colorado State Board of Accountancy, which regulates and disciplines all the state's certified public accountants and their firms. He has also served on the AICPA's Professional Ethics Executive Committee (PEEC), establishing and enforcing the ethics and independence requirements in the AICPA's Code of Professional Conduct. He is a former member of the PCAOB's Standing Advisory Group (SAG) and, during 2007 – 2008, served on the U.S. Treasury's Advisory Committee on the Auditing Profession (ACAP).

About the IESBA CAG

The IESBA Consultative Advisory Group (CAG) is an integral and important part of the IESBA's formal process of consultation. Representatives of CAG member organizations provide advice on numerous areas, including the IESBA's agenda, project timetable (work program) and priorities, and technical advice on projects and other matters of relevance to the activities of the IESBA.

About the IESBA

The IESBA is an independent global standard-setting board. The IESBA's mission is to serve the public interest by setting ethics standards, including auditor independence requirements, which seek to raise the bar for ethical conduct and practice for all professional accountants through a robust, globally operable International Code of Ethics for Professional Accountants (including International Independence Standards) (the Code).

The IESBA believes a single set of high-quality ethics standards enhances the quality and consistency of services provided by professional accountants, thus contributing to public trust and confidence in the accountancy profession. The IESBA sets its standards in the public interest with advice from the IESBA Consultative Advisory Group (CAG) and under the oversight of the Public Interest Oversight Board (PIOB).

Today, the International Ethics Standards Board for Accountants (IESBA) released its Technology Working Group’s final report, IESBA Technology Working Group Phase 2 Report (the Report).

Building on the February 2020 Phase 1 Report, the Report documents the impacts of disruptive and transformative technologies on the work of professional accountants, and provides extensive analysis and insights into the ethical dimension of those developments. The report also discusses the relevance and importance of the overarching principles and specific provisions in the International Code of Ethics for Professional Accountants (including International Independence Standards) (the Code) in laying out the ethical guardrails for professional accountants as they face opportunities and challenges in their work as a result of rapid digitalization.

The Report surveys the technology landscape and summarizes the outcomes of the Working Group’s fact-finding into the ethics implications of innovative technologies such as artificial intelligence, blockchain and cloud computing. It explores -- through the ethical lens -- various related issues, including data governance, cybersecurity, and reliance on, or use of, experts, and provides insights into those issues and the questions they raise. The Report includes ten recommendations which the IESBA will further consider, some of which it is already addressing in developing technology-related revisions to the Code.

The Report has been informed by the IESBA’s Technology Expert Group and the input of a diverse group of stakeholders, including investors, regulators, those charged with governance, firms, national standard setters, professional accountancy organizations, public sector organizations, and academics. 

Stakeholders, including the International Federation of Accountants (IFAC) (and its member organizations), national standards setters, academics, firms, and others are encouraged to study and leverage the Report’s comprehensive findings as they consider how best to reinforce public trust in the work of professional accountants in business and in public practice in the age of digitalization.

Learn more on the IESBA’s Technology Initiative by clicking here.

The International Federation of Accountants (IFAC) has selected Mrs. Olivia Kirtley of the United States and Mr. Edward Olowo-Okere of Nigeria as the 2022 recipients of the IFAC Global Leadership Award, recognizing their contributions to the advancement of the global accountancy profession and capital markets.

Mrs. Olivia Kirtley

Mrs. Kirtley is an internationally known expert in accounting, risk management, and governance. She served as the first female Chair of the American Institute of CPAs (AICPA) and later became Chair of the AICPA Board of Examiners administering the U.S. CPA Exam.

While serving as the first female Deputy President and later President of IFAC, Mrs. Kirtley worked on important reforms to IFAC’s constitution and support for Professional Accountants in Industry. As President, she focused on promoting diversity within the profession, capacity building, strong governance structures and public sector financial management.

Since leaving IFAC, Mrs. Kirtley has continued breaking the glass ceiling for women with ongoing service on corporate boards, including current service as Director of Papa John’s International, Inc., a publicly traded company listed on the NASDAQ; Lead Independent Director of U.S. Bancorp, the parent company of US Bank, a NYSE and Fortune 500 company; and Director and Audit Committee Chair of Bexion Pharmaceuticals.

Mrs. Kirtley is a member of the Accounting Hall of Fame and an AICPA Gold Medal winner, which is the highest honor granted by the AICPA. In addition, in 2020, she was named the first recipient of the American Woman's Society of CPAs (AWSCPA) Lifetime Achievement Award, which recognizes women who have demonstrated leadership and a strong record of accomplishment in furthering the advancement of women in the accounting profession.

“It is a privilege to present this award to Olivia, IFAC's first female president," said President Alan Johnson. "Through her leadership of the AICPA and IFAC, and work on many corporate boards, Olivia has used her expertise in accounting, risk management, and governance to lead the development of the profession across the world, including as a role model for aspiring female accountants, and has continually enhanced the reputation and trust of our profession. Her international reach and steadfast commitment to the public interest have been of immeasurable service to the profession."

Mr. Edward Olowo-Okere

Mr. Olowo-Okere has over three decades of experience working on development issues around the world. He is Senior Adviser in the Equitable Growth, Finance, and Institutions (EFI) Vice Presidency at the World Bank.

Previously, Mr. Olowo-Okere was the Global Director for the Governance Global Practice where he led the Practice to support client countries in building accountable, transparent, and inclusive institutions to facilitate private-sector growth and build trust in governments. He joined the World Bank in 1998 and has held various positions in operations, including Director of Governance overseeing Africa, MENA and ECA regions, and Director of the Core Operational Services Department in the Africa region. Before joining the Bank, he worked in Nigeria, Britain, and New Zealand.

Mr. Olowo-Okere was instrumental in establishing Pan African Federation of Accountants, playing a crucial role in facilitating engagements amongst the key stakeholders that culminated in the organization’s launch in Senegal in May 2011. Specifically, he facilitated several conversations, provided guidance on drafting the PAFA constitution, and presided over the launch event. Over the years, Ed has actively supported PAFA, especially by speaking at various forums, providing advisory input to the Board and leadership, and, more recently, serving as a 10-year PAFA advisory committee member. PAFA currently has a membership of 56 Professional Accountancy Organizations from 45 countries. Amongst other contributions, Ed served on the IFAC’s Developing Nations Committee (DNC) and a Group that transformed DNC to Professional Accountancy Organization Development Committee (PAODC).

In 2021, Mr. Olowo-Okere was recognized by the World Economic Forum Global Future Council on Agile Governance as one of the world’s 50 most influential people driving agile initiatives to ensure governments can effectively navigate disruptions like COVID-19 and the climate crisis.

"I am honored to present this award to Ed, a passionate global leader with over thirty years of significant global contributions to the accountancy profession and the public sector," said President Alan Johnson. "Ed was instrumental in the development of the Pan African Federation of Accountants (PAFA) in 2011 and has played a leading role in developing a strong accountancy profession across the world."

Established in 2017 by the IFAC Board, the IFAC Global Leadership Award in Honor of Robert Sempier recognizes individuals who make outstanding contributions to the global accountancy profession. The award honors the contributions of Robert Sempier, IFAC’s first executive director who greatly contributed to the development of the profession worldwide.

The Global Leadership Award was presented during IFAC’s Council meeting, held on November 15, 2022.

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 180 members and associates in 135 jurisdictions, representing more than 3 million accountants in public practice, education, government service, industry, and commerce.

The International Federation of Accountants (IFAC), the voice of the global accountancy profession, announces the election of Asmâa Resmouki as its President. Mrs. Resmouki is the first IFAC President from the Africa-Middle East region and the third female President. She will serve a two-year term through November 2024, serving previously as IFAC Deputy President since November 2020.

“I am honored to have been elected IFAC’s next president, and proud to be the organization’s first president from the Africa – Middle East Region.  This is a clear example of IFAC leading by example in the area of diversity,” said Mrs. Resmouki.  “I look forward to continuing to work with IFAC’s Board and management to deliver on our public interest mandate, and to progress our positive impacts on a strong and sustainable accountancy profession, strong and sustainable private and public sector organizations, and strong and sustainable financial markets and economies.”

Mrs. Resmouki joined the IFAC Board in November 2017, originally nominated by the Ordre Des Experts Comptables—Morocco. She served as the Governance Committee Chair in 2020, before taking the role of the Planning and Finance Committee (PFC) Chair in 2021 and 2022. In addition to her work with IFAC, she was the first female President of the Pan African Federation of Accountants (PAFA), after serving on the PAFA Board for six years.

Mrs. Resmouki has over 30 years of experience in the profession, including as a Big-4 Audit partner at EY and Deloitte. In 2020, she started her consultancy practice where she has been assisting different organizations in projects relating to the profession and to advisory services.  

Jean Bouquot Named Deputy President

IFAC also announced the election of Jean Bouquot as Deputy President.  Mr. Bouquot joined the IFAC Board in November 2020, nominated by Compagnie Nationale des Commissaires aux Comptes (CNCC) and Conseil National de l'Ordre des Experts-Comptables . Mr. Bouquot served as president of the CNCC from 2017 to 2020 and was also a President and Deputy President of the Compagnie des Commissaires aux Comptes (CRCC) de Versailles from 2015 to 2017. He currently serves as a Board member of the Fédération Internationale des Experts Comptables et Commissaires aux Comptes Francophones (FIDEF).

Mr. Bouquot has over 42 years of experience as an auditor in various positions with a wide exposure to international activities. He was a Partner with EY from 2002 until 2020 and was in charge of the company’s assurance service line for France/Luxembourg/Maghreb from 2008 to 2015.

New Board Members Elected

IFAC also announced new board members, maintaining a female-majority board for the fourth consecutive year. IFAC places a priority on diversity in professional, gender, and geographic representation on its board and advisory groups.

The new and reappointed IFAC Board members and their nominating member organizations are:

New appointments:

• Ms. Kathryn Byrne (AICPA, USA)
• Mr. Francisco A. M. Sant’Anna (CFC / IBRACON, Brazil)
• Prof. Sidharta Utama (IAI, Indonesia)

Reappointments:

• Mrs. Fiona Wilkinson (CCAB (ICAEW), UK)
• Mr. Yeong Kyun Ahn (KICPA, Korea, Republic of)
• Ms. Joan Curry (CAI, Ireland)
• Ms. Caroline Gardner (CIPFA, UK)
• Dr. Winnie Nyamute (ICPAK, Kenya)
• Mr. Ismaila Zakari (ICAN, Nigeria)

New IFAC Member Organizations Admitted

In addition to the election of new Board members, the IFAC Council also approved a new member and new associate member organizations.

New IFAC Member:

• Ordre National des Experts-Comptables et des Comptables Agréés du Burkina Faso

New Associates:

• Association of Professional Financial Managers (Azerbaijan)
• Ordre National des Experts Comptables et des Comptables Agréés du Mali
• Qatari Association of Certified Public Accountants
• Auditors' Chamber of Ukraine

The new appointments and membership decisions were approved at IFAC’s 2022 Council meeting, held on November 15.

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 more than 180 members and associates in 135 jurisdictions, representing more than 3 million accountants in public practice, education, government service, industry, and commerce.

Today, the International Federation of Accountants (IFAC) released a new report providing insight into climate-related disclosure. Getting to Net Zero: A Global Review of Corporate Disclosures focuses on corporate emissions reduction reporting. It finds that inconsistency and incomparability of target disclosures may pose challenges for investors, regulators, and other stakeholders who require actionable information. The report’s findings strongly support the movement in global policy towards rapidly enhancing the usefulness of disclosures on climate-related targets and transition plans.

Getting to Net Zero is based on 2020 corporate reporting and provides a useful benchmark for climate disclosures which are under development by the International Sustainability Standards Board (ISSB), the U.S. Securities and Exchange Commission (SEC), and the European Financial Reporting Advisory Group (EFRAG), among other initiatives. The report also comes during the COP27 conference in Sharm El-Sheikh, Egypt, where delegates from over 190 countries, many of which have proposed or set net-zero targets for around mid-century, gather to discuss and progress climate actions.

“With COP27, this is perfect time to dig into what is being disclosed and explore how emissions disclosures need to become more decision-useful,” said IFAC CEO Kevin Dancey. “The accountancy profession is well positioned to drive improvements in climate reporting, ensuring information is trusted and decision-useful for management and boards, investors, and all stakeholders.”

Some key takeaways from Getting to Net Zero include:

• 66% of the large, exchange-traded companies IFAC reviewed included some type of emissions reduction target in their corporate disclosures.
• These emissions targets used a variety of terminology and only 39% incorporated Scope 3 emissions.
• Most companies (90%) who disclose emissions targets also provide a disclosure about how they plan to reach their target.
• Only 24% of companies with a plan include some past expenditure or future estimate of expenditures to implement plan actions.

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 180 members and associates in 135 countries and jurisdictions, representing more than 3 million accountants in public practice, education, government service, industry, and commerce.

Earlier today, the Staff of the International Ethics Standards Board for Accountants (IESBA) released a Questions & Answers (Q&A) publication, Ethics Considerations in Sustainability Reporting, Including Guidance to Address Concerns about Greenwashing. The publication highlights the relevance and applicability of the International Code of Ethics for Professional Accountants (including International Independence Standards) (the Code) to ethics-related challenges in the context of sustainability reporting and assurance, especially circumstances involving misleading or false sustainability information (i.e., “greenwashing”). 

Among other matters, the publication spotlights key provisions in the Code that apply in preparing and presenting sustainability information. It emphasizes the professional accountant’s obligation to be straightforward and honest and refrain from being associated with information that is misleading or false, including in situations where they might experience pressure to do so.

The publication is intended to assist professional accountants, especially those in business, but might also be of interest to other professionals involved in preparing sustainability reports or disclosures. It will also be useful to regulators and audit oversight bodies, policy makers, investors, those charged with governance, national standard setters, professional accountancy organizations, and others with an interest in the work of professional accountants and in sustainability reporting and assurance.

About IESBA

The International Ethics Standards Board for Accountants (IESBA) is an independent global standard-setting board. The IESBA serves the public interest by setting ethics standards, including auditor independence requirements, which seek to raise the bar for ethical conduct and practice for all professional accountants through a robust, globally operable International Code of Ethics for Professional Accountants (including International Independence Standards).

The IESBA believes a single set of high-quality ethics standards enhances the quality and consistency of services provided by professional accountants, thus contributing to public trust and confidence in the accountancy profession. The IESBA sets its standards in the public interest with advice from the IESBA Consultative Advisory Group (CAG) and under the oversight of the Public Interest Oversight Board (PIOB).

Earlier today, the Staff of the International Ethics Standards Board for Accountants (IESBA) released the Staff Alert, The Ukraine Conflict: Key Ethics and Independence Considerations. The publication draws the attention of professional accountants in business (PAIBs) and professional accountants in public practice (PAPPs), including firms, to a number of important provisions in the International Code of Ethics for Professional Accountants (including International Independence Standards) (the Code) with which they must comply in carrying out their work as they navigate the unprecedented challenges and risks arising from the Russia-Ukraine war.

Among other matters, the Staff Alert highlights the ethical implications arising from the wide-ranging economic sanctions many jurisdictions have imposed on Russia and certain Russian entities and individuals as well as Belarus, and the related ethical responsibilities of PAIBs and PAPPs under the Code. It also highlights:

• Key ethics considerations for PAIBs in relation to the preparation and presentation of information, especially as regards accounting for and disclosing the impact of the Ukraine conflict on their employing organizations’ business; and
• Key ethics considerations for PAPPs in relation to client and engagement acceptance, and in the context of audits of financial statements, key independence considerations relating to overdue fees and the Code’s prohibition against assuming management responsibility.

Regardless of the environment in which professional accountants operate, the provisions of the Code serve to enhance the quality and consistency of services accountants provide, thus contributing to public trust and confidence in their work.

This publication may also be of interest to national standard setters, the investor and corporate governance communities, regulators and audit oversight bodies, preparers other than PAIBs, professional accountancy organizations, and others with an interest or role in the work of PAIBs and auditors and other PAPPs.

About IESBA

The International Ethics Standards Board for Accountants (IESBA) is an independent global standard-setting board. The IESBA’s mission is to serve the public interest by setting ethics standards, including auditor independence requirements, which seek to raise the bar for ethical conduct and practice for all professional accountants through a robust, globally operable International Code of Ethics for Professional Accountants (including International Independence Standards) (the Code).

The International Ethics Standards Board for Accountants (IESBA) today released the 2022 edition of the Handbook of the International Code of Ethics for Professional Accountants (including International Independence Standards). This handbook replaces the 2021 edition and incorporates the following revisions that will become effective in December 2022:

• The revisions to the non-assurance services (NAS) and fee-related provisions of the Code.
• The revisions to address the objectivity of an engagement quality reviewer (EQR) and other appropriate reviewers.
• The quality management-related conforming amendments to the Code that were issued as a result of the finalization of the International Auditing and Assurance Standards Board’s (IAASB) suite of quality management standards.

Early adoption of the above revisions is encouraged.

The back of the 2022 Handbook contains the IESBA-approved provisions related to the revised definition of a public interest entity (PIE). These revised provisions will become effective in December 2024. Early adoption will be permitted.

Click here to learn more about the IESBA Code.

Reproducing and Translating the IESBA Handbook
To help adoption and implementation of the IESBA standards, stakeholders are invited to submit requests for permission to reproduce or translate the IESBA Handbook online via the Online Permissions Requests or Inquiries system on the IFAC website.

About IESBA
The International Ethics Standards Board for Accountants (IESBA) is an independent global standard-setting board. The IESBA’s mission is to serve the public interest by setting ethics standards, including auditor independence requirements, which seek to raise the bar for ethical conduct and practice for all professional accountants through a robust, globally operable International Code of Ethics for Professional Accountants (including International Independence Standards) (the Code).

IMA^® (Institute of Management Accountants) and IFAC (International Federation of Accountants) today released their report, “Diversifying Asia-Pacific Accounting Talent: A Critical Imperative to Achieve Transformational Outcomes.” As a joint effort, the report draws attention to diversity, equity, and inclusion (DE&I) issues in the Asia-Pacific region and presents remedies to the gaps identified.

The report includes findings from a late-2021 online survey of more than 1,100 current and former Asia-Pacific accounting professionals and interviews of 32 accounting practitioners and academics who varied in experience level, country, gender, ethnicity, and age. The survey identified 95% of the respondents as current or former accounting profession members in Indonesia, the Philippines, Singapore, Vietnam, Australia, and Japan.

The regional DE&I research focuses on two primary demographic areas: gender and ethnicity. In the report, 47% of the respondents identify as female; data on minority ethnic groups were primarily taken from Indonesia, the Philippines, Singapore, and Australia, where 44% of respondents self-identified as a member of an ethnic minority group.

The study found that inequities and exclusive behaviors in the profession are the main reason for the underrepresentation of diverse talent at senior levels. The data also revealed disparities throughout countries in the Asia-Pacific region. For instance, the Philippines had the highest percentage of respondents viewing the profession as equitable (91%) and inclusive (90%). Amongst the Southeast Asian countries included in the report, Indonesia is ranked second at 82% and 81%, followed by Singapore (78% and 80%) and Vietnam (73% and 77%).

"Social and cultural influences have significant impacts on accounting in the Asia-Pacific region just as they affect the workplace. As some of the countries in our sample are dominated by a single race (such as Japan), data on minority ethnic groups come primarily from Australia, Indonesia, the Philippines, and Singapore. Respondents who identified as members of minority ethnic groups from these countries pointed to firsthand experiences of inequitable and exclusive treatment negatively affecting their advancement in the workplace. Hence, it is important for businesses and the profession to implement focused efforts to close the diversity gap and attract and retain talent. Our research revealed these efforts are integral to our profession surviving, transforming, and thriving.” said Josh Heniro, Senior Director, IMA Southeast Asia & Australasia.

A section of the report focuses on a deep dive of six countries in the Asia-Pacific region – Indonesia, Philippines, Singapore, Vietnam, Australia, and Japan, offering a high-level view of DE&I based on resources such as existing literature; active DE&I initiatives; an analysis of survey responses; and insights from one-on-one interviews of current and former accounting professionals. 

Interviewees also indicated that despite previous initiatives to attract, retain, and promote the next generation of professional leadership, these efforts have not brought adequate results. The status quo is unlikely to contribute to closing the diversity gap at senior levels. Organizations and the profession are already on transformation journeys to meet environmental, societal, and business demands. Expansive targeted efforts are required to achieve the transformational outcomes needed. The report made suggestions for DE&I action in the second part in four primary categories: awareness, attraction, promotion, and accountability. 

"The underrepresentation of minority ethnic groups in leadership positions is not due to a lack of talent, but rather unequal treatment rooted in biases against already marginalized groups,” said IFAC CFO Russell Guthrie. “It is up to professional accountants to leverage the solutions suggested in this report to remedy existing DE&I gaps and therefore ensure the longevity of our profession and its success.”

View the full report here: https://www.imanet.org/en/About-IMA/Diversity-and-Inclusion/Diversity-Equity-Inclusion-Research

About IMA^® (Institute of Management Accountants)
IMA^® is one of the largest and most respected associations focused exclusively on advancing the management accounting profession. Globally, IMA supports the profession through research, the CMA^® (Certified Management Accountant) and CSCA^® (Certified in Strategy and Competitive Analysis) programs, continuing education, networking, and advocacy of the highest ethical business practices. Twice named Professional Body of the Year by The Accountant/International Accounting Bulletin, IMA has a global network of about 140,000 members in 150 countries and 350 professional and student chapters. Headquartered in Montvale, N.J., USA, IMA provides localized services through its four global regions: The Americas, Asia/Pacific, Europe and Middle East/India. For more information about IMA, please visit www.imanet.org.

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 has 180 members and associates in 135 jurisdictions, representing more than 3 million accountants in public practice, education, government service, industry, and commerce.