The International Federation of Accountants^® (IFAC^®), the global body for the accountancy profession, today expressed its support to the UN Framework Convention on Climate Change as it facilitates a new international agreement on emissions reduction targets leading up to the 21st session of the Conference of the Parties, which takes place in Paris in December. IFAC supports a universal agreement and effective international dialogue to encourage the transition toward resilient, low-carbon societies and economies.

Climate change is a seminal and intractable public interest issue, affecting organizations and global markets and the societies they serve. An international agreement on long-term global emissions reduction will assist governments, capital markets, and private and public sector organizations—and the professional accountants who serve them—to more confidently identify necessary actions to mitigate climate change. A strong and clear agreement is also more likely to unleash government and business ingenuity and innovation in both managing and solving climate change challenges.

IFAC’s three key messages on climate action are:

• A global climate agreement at the 21^st session of the Conference of the Parties needs to deliver a clear framework for international action that provides the policy environment to facilitate investment and innovation.
• Going forward, it will be important to examine the range of different reporting frameworks and regulations in existence and identify a path to global consistency to ensure governments and businesses are given a clear and consistent context in which to operate and report on their actions.
• Professional accountants in their various roles―in public practice for accounting firms of all sizes and working in business, industry, and the public and not-for-profit sectors―have a significant contribution to make in helping governments, capital markets, and organizations implement plans for climate change mitigation and adaptation. They have long been on the front-lines of helping others adapt to changes in society; mitigating and adapting to the challenges of climate change will be no different.

“Climate change is subject to intense public debate and scrutiny. But what is clear is that there is a critical economic, business, and societal need to respond to the warming of the climate by reducing global emissions,” according to IFAC CEO Fayez Choudhury. “Increased climate risk presents uncertainty creating threats and opportunities for governments and businesses and the societies they serve. This issue is important to the global accountancy profession and we aim to continue working with a range of stakeholders to address the challenges ahead.”

IFAC’s submission joins the many other voices that are encouraging a strong international agreement, including:

• Investors: In an open letter to finance ministers of the Group of Seven (G-7), 120 investor CEOs from around the world who manage funds worth more than USD $12 trillion urged the inclusion of a long-term emissions reduction goal in the international climate agreement.
• Companies: In an open letter to world leaders, CEOs of 43 large global companies asked for an ambitious climate change agreement; signatories included IKEA, Erikson, Lafarge, Volvo, BT, Marks & Spencer, Munich RE, Unilever, and Vestas.
• CEOs of oil and gas companies: ln an open letter to the UN and governments, the CEOs of six major oil and gas companies called for global carbon pricing.

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. It is comprised of more than 175 members and associates in 130 countries and jurisdictions, representing over 2.8 million accountants in public practice, education, government service, industry, and commerce.

In this letter to the United Nations Framework Convention on Climate Change (UNFCCC), IFAC issues its support of the UNFCCC’s facilitation of the forthcoming international climate negotiations at the 21st session of the Conference of the Parties.

As the global organization for the accountancy profession, IFAC is advocating for a universal agreement and effective international dialogue that encourages the transition toward resilient, low-carbon societies and economies.

IFAC commissioned independent economics and business research consultancy, Cebr, to analyze our membership data from 2009 to 2013.  Nexus 1: The Accountancy Profession, Behind the Numbers is the first of two reports to look behind Cebr’s analysis, and provide a snapshot of professional accountancy’s importance to the global economy and its contribution to society.

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A report released today by the International Federation of Accountants^® (IFAC^®), the global organization for the accountancy profession, reveals that growth in membership of professional accountancy organizations (PAOs) far exceeded total employment growth across almost all global regions and economies for the period 2009-2013.

Fayez Choudhury, IFAC Chief Executive Officer, said, “This study reinforces the importance of the global accountancy profession in good times and bad. In challenging environments, expert and trusted professional accountants help make sense of rapidly changing regulation and provide strategic advice that strengthens organizations and advances economies.”

Nexus 1: The Accountancy Profession, Behind the Numbers, a study conducted for IFAC by the independent Centre for Economics and Business Research (Cebr), analyzes data from IFAC’s more than 175 members and associates in 130 countries and jurisdictions. The findings show that, following the global financial crisis, the number of professional accountants IFAC represents through its members grew:

• 20% in advanced economies, despite low total employment growth of 2.6%;
• 15% in BRIC (Brazil, Russia, India, China) countries, despite low total employment growth of 2.9%; and
• 18% and 11%, respectively, in MINT (Mexico, Indonesia, Nigeria, Turkey) countries and emerging markets, while their economies enjoyed total employment growth, respectively, of approximately 10% and 5%.

“From emerging to advanced economies, the report indicates the importance of the strong, vibrant profession IFAC’s members support. It tells motivated young people considering career choices that accountants are required in all economic conditions; that rapid growth in emerging economies means there is need for more and better trained accountants; and that strong PAOs and professional accountants are intrinsic to the success of advancing economies,” Mr. Choudhury said. “In addition, the role of accountants is not one-dimensional: more than half of the professional accountants IFAC represents through our members work in business and industry, the public sector, and academia, and some 45% work in public practice.”

In another key finding, the study estimates for the first time how many people are working in accountancy-related fields worldwide. The number of people identified as working in the field of accountancy or supporting its function is approximately three times the size of IFAC PAOs’ membership.

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. It is comprised of more than 175 members and associates in 130 countries and jurisdictions, representing over 2.8 million accountants in public practice, education, government service, industry, and commerce.

About Cebr:
Centre for Economics and Business Research Ltd (Cebr) is an independent consultancy with a reputation for sound business advice based on thorough and insightful research. Since 1992, Cebr has been at the forefront of business and public interest research, providing analysis, forecasts and strategic advice to major UK and multinational companies, financial institutions, government departments and agencies, trade bodies and the European Commission.

Following a global nominations process, the International Federation of Accountants^® (IFAC^®), the global organization representing the accountancy profession with more than 175 members and associates in 130 countries, today announced the appointment of Kathryn A. Byrne, CPA, as the new chair of the Compliance Advisory Panel (CAP). The appointment was approved by the Public Interest Oversight Board. Ms. Byrne will serve a three-year term beginning January 1, 2016.

In this role, Ms. Byrne will lead the CAP as it oversees the implementation of the IFAC Member Compliance Program (the Program). The CAP is a critical component of the Program, which serves the public interest by promoting the adoption and support of implementation of international standards on private and public sector accounting, auditing, ethics, education as well as the establishment of related quality assurance and enforcement mechanisms. It does this through the Statements of Membership Obligations (SMOs), a recognized international framework for credible and high-quality professional accountancy organizations (PAOs) and the role these organizations play in the global financial system. The CAP also provides expert advice to IFAC staff on membership and enforcement issues, setting strategy in relation to membership, and developing assessment methodology, tools, and guidance in support of the Program.

Ms. Byrne comes to her new role having worked with IFAC and the accountancy profession for a number of years. She has served as the Deputy Chair for the CAP since early 2013 and been a member since 2010. Ms. Byrne is currently a Partner at WeiserMazars LLP and a member of the American Institute of CPAs, the New York State Society of CPAs, and the Women’s Corporate Directors group. She serves on the Board of Directors of Signature Bank and its Audit Committee and the James Madison University College of Business Board of Advisors. Ms. Byrne previously served as a member of the Transnational Audit Committee of the Forum of Firms from 2001 to 2003.

“Kathryn’s experience with the CAP, IFAC, and as a professional accountant make her an excellent leader for the important work that the CAP does for the global profession and in the public interest,” according to IFAC CEO Fayez Choudhury. “As the profession continues to evolve, Kathryn will be able to help ensure that it provides a suitable framework for PAOs to fulfill the SMOs and support their local economies.”

“The IFAC Member Compliance Program helps PAOs support their national accountancy professionals, who provide the foundation for strong and sustainable economies and organizations, which in turn, support the global financial system,” Ms. Byrne said. “As the new Chair of the CAP, I look forward to working with my colleagues to implement the recently issued 2016-2018 Program strategy, maintaining its focus on the role of PAOs and their contribution to the adoption and implementation of international standards.”

About the Compliance Advisory Panel and IFAC Member Body Compliance Program
The Compliance Advisory Panel (CAP) oversees the IFAC Member Body Compliance Program, which serves the public interest by promoting the adoption and support of implementation of international standards on private and public sector accounting, auditing, ethics, education as well as the establishment of related quality assurance and enforcement mechanisms through the Statements of Membership Obligations (SMOs), which serve as a framework for credible and high-quality professional accountancy organizations focused on serving the public interest. As one of IFAC’s public interest activities, the CAP is overseen by the Public Interest Oversight Board. The CAP’s Terms of Reference further describe its role and responsibilities.

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. It is comprised of more than 175 members and associates in 130 countries and jurisdictions, representing approximately 2.8 million accountants in public practice, education, government service, industry, and commerce.

The International Federation of Accountants^® (IFAC^®) commends the Organisation for Economic Co-operation and Development (OECD) and Group of Twenty (G-20) on delivering a final package of measures in the Base Erosion and Profit Shifting (BEPS) Project.

“The BEPS Project presents a rare opportunity to cooperatively make international taxation work genuinely better in today’s globalized, digital economies,” said Russell Guthrie, Executive Director for IFAC. “Its success or failure will likely hinge on the effectiveness of international collaboration, without which we may end up with more complexities, divergences, and gaps than when we started,” said Mr. Guthrie.

IFAC calls for cooperation and inclusiveness among governments as the BEPS measures are implemented and negotiation proceeds on a multilateral taxation instrument amending over 3,000 bilateral treaties. This strong appeal is reflected in IFAC’s impending recommendations to the 2015 G-20 Leader’s Summit in Antalya, Turkey, along with:

• A call for ongoing analysis of economic impacts; and
• The need for international agreement on a properly resourced dispute resolution mechanism.

The BEPS package emphasizes crucial objectives, including ensuring governments have the resources needed “to jump-start growth, tackle the effects of the global economic crisis and create more and better opportunities,” and restoring “the trust of ordinary people in the fairness of their tax systems.” IFAC believes this is not just a matter of how taxes are collected, but also about how that money is accounted for, managed, and spent by governments. Poor public sector financial management, accountability, and transparency remains a significant problem in many countries.

“The reality is this is not just a conversation about tax, it’s about globalization and a digital economy. A clear, robust conversation grounded in its full economic context is essential to achieving fair and meaningful outcomes, and promoting accountability and transparency across the global economy,” said Mr. Guthrie. “We must realize that BEPS is not a panacea— in a rapidly evolving world, there’s an ongoing need for tackling fundamental, forward-looking questions, research, and ongoing dialogue around taxation.”

Accountants, as advisors and intermediaries, were recognized by the OECD’s Forum on Tax Administration (consisting of Tax Commissioners from 45 countries) for their “vital role in all tax systems, helping taxpayers understand and comply with their tax obligations in an increasingly complex world.”

 “The OECD and G-20 have achieved consensus on many tough issues in a short time, and the global accountancy profession is committed to helping make the BEPS package work for governments, companies, and other taxpayers—furthering the extensive technical input provided throughout its development,” said Mr. Guthrie.

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. It is comprised of more than 175 members and associates in 130 countries and jurisdictions, representing over 2.8 million accountants in public practice, education, government service, industry, and commerce.

The IFAC SMP Committee acknowledges that the IESBA Exposure Draft: Responding to Non-Compliance with Laws and Regulations is a sensitive and complex topic and commends the Ethics Board on the substantial amount of work and outreach that has been undertaken in moving this project forward. We generally consider that the revised framework has significantly improved.

Transparency and accountability require robust financial information.

Governments around the world are entrusted by their populations to manage their financial resources in a sensible and cost-effective way. They collect revenues, largely through taxation, and in return are expected to deliver a wide range of public services such as education, health, infrastructure and social transfers for the benefit of current and future generations.

Continuing its commitment to strengthen the accountancy profession and professional accountancy organizations (PAOs), the International Federation of Accountants^® (IFAC^®) today issued its annual Call for Expressions of Interest for organizations wishing to partner in these efforts.

In 2014, IFAC, the global organization for the accountancy profession, and the UK Department for International Development (DFID), which leads the UK’s work to end extreme poverty, entered into an agreement to strengthen PAOs in emerging economies. Under the agreement, DFID will provide £4.935 million over seven years to strengthen PAOs in at least 10 DFID focal countries to play a greater role in furthering economic development.

IFAC invites organizations to indicate their interest in providing PAO capacity-building services under this DFID-funded program. IFAC’s role is to facilitate, coordinate, and supervise projects to strengthen developing PAOs’ managerial, financial, and technical capacity so they can drive improvements in professional and ethical standards. Such projects ordinarily include peer-to-peer support by more established PAOs.

Expressions of Interest can be submitted online. Interested organizations need to demonstrate that they have the required qualifications and relevant experience to perform the capacity-building services. Based on information in the Expressions of Interest, IFAC will evaluate interested organizations and select eligible organizations for the database. In the future, eligible organizations may be invited to bid on specific projects. Further information is available by emailing development@ifac.org and in a questions & answers webpage.

The deadline for submission of Expressions of Interest is November 20, 2015.

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. It is comprised of more than 175 members and associates in 130 countries and jurisdictions, representing approximately 2.8 million accountants in public practice, education, government service, industry, and commerce.

About DFID
The Department for International Development (DFID) leads the UK’s work to end extreme poverty. We're ending the need for aid by creating jobs, unlocking the potential of girls and women and helping to save lives when humanitarian emergencies hit. For more information visit www.gov.uk/dfid.

The IFAC Member Compliance Program Strategy, 2016-2018 has been issued after consideration of the more than 70 responses received from a 60-day public consultation period and finalization with proper regard for the public interest. The Member Compliance Program and the Compliance Advisory Panel (CAP) were established by the IFAC Board more than ten years ago as part of IFAC’s commitment to support the growth of professional accountancy organizations and encourage member organizations to further the adoption and implementation of international standards.

The Program strategy reiterates the importance of its primary activities, which center on:

• Maintaining robust application and compliance processes;
• Gathering and sharing knowledge about the adoption of international standards and practices and fulfillment of the IFAC Statements of Membership Obligations (SMOs);
• Maintaining the SMOs as a global benchmark for the accountancy profession; and
• Developing assessment methodology, tools, and guidance to support the Program.

For 2016-2018, the Program’s strategy will place a greater focus on:

• Monitoring member organizations’ compliance with membership requirements, including the SMOs, to better understand challenges facing these organizations;
• Enhancing reporting on the status of adoption of international standards; and
• Identifying actions to address adoption and implementation challenges, including support for member organizations and national authorities.

The Program’s strategy is aligned with IFAC’s mission and strategy and benefits from the inputs received from member organizations and other stakeholders as part of IFAC’s strategic planning process. These activities fulfill the Program’s mandate and are expected to remain valid over the long term.