We speak out as the voice of the global accountancy profession.
Many important voices advocate for the role of accountancy in society. As the global voice of the profession, we speak out in the public interest on behalf of the global accounting profession.
We release policy position papers and host articles by expert staff and contributors. Our policy team leads research and analysis on the most pressing issues facing the profession and its intersection with broader trends in business and society.
We run media campaigns—from traditional press to social media—to promote our work and that of standard-setting boards and member organizations.
Accountants are trusted professionals in both the public and private sector. We aim to leverage our reputation to address several critical issues, including:
- Regulatory fragmentation: Inconsistencies in regulation between jurisdictions cost financial institutions 5 to 10 percent of annual revenue. The total cost to the global economy of regulatory fragmentation is more than USD $780 billion annually.
- Fraud and corruption: The cost of fraud and corruption globally is at least $2.6 trillion, or 5 percent of global gross domestic product. The International Ethics Standards Board for Accountants, facilitated by IFAC, publishes a Code of Ethics that promotes and embodies the profession’s commitment to integrity and transparency. In addition, our research shows that a higher percentage of accountants in the workforce strongly correlates to better outcomes in Transparency International’s global Corruption Perceptions Index.
- Sustainability: The deadline for progress toward the UN 2030 Sustainable Development Goals is fast approaching, and many countries are falling behind. The skills of accountants will become increasingly in demand as the Sustainable Development Goals gain traction – whether to advance climate action, to provide quality education or to achieve gender equality.
- Corporate Reporting: Professional accountants provide information and analysis that supports decisions about all aspects of an organization’s ability to execute its purpose, strategy, and business model and perform financially and create value. Working in business and public sector, they are well-positioned to ensure there is adequate connectivity between financial and non-financial information, and that there are clear links between financial performance and the underlying business across all capitals.
G20 countries play a crucial role in fostering institutions and governance models that can anticipate, respond to, and optimize rapid technological change.
Each year, we issue a call-to-action to G20 countries with specific recommendations that we believe will strengthen the economy, ensure progress toward the Sustainable Development Goals, and create a fair and empowered digital economy. These include:
- Making regulation smarter and more effective
- Creating a consistent, transparent, global regulatory environment
- Implementing internationally accepted standards
- Strengthening governance
- Embracing integrated reporting
- Enhancing public sector financial management
- Collaborating to tackle corruption
- Creating an environment for small and medium-sized entity growth and inclusiveness
- Creating a secure and digital ready investment environment; and
- Collaborating for a coherent international tax system