A new publication has been developed under the IFAC Professional Accountancy Organization (PAO) Capacity Building Program, currently funded by the UK Department for International Development (DFID). The guide will enable PAOs to develop information and communication technology (ICT) roadmaps that meet the individual needs of each PAO based on their infrastructure, level of development, regulatory obligations, and number of stakeholders, as well as consider external and environmental factors that may impact ICT planning.
The IFAC PAO Capacity Building Program supports the development and growth of PAOs around the world. By working with IFAC’s global stakeholders—PAOs, international donors, the international development community, and others—the Program works to solve the global need for growth and development of the accountancy profession, all in support of the public interest.
Update: The IESBA has extended their deadline to March 1, 2018 to give stakeholders an extra month to respond to their Fees Questionnaire.
The International Ethics Standards Board of Accountants (IEBSA) recently opened a public survey to seek individual views about the level of fees charged by audit firms. The survey seeks views and information from stakeholders: investors and other users of financial statements, the corporate governance community, the regulatory and audit oversight community, preparers, firms, national standard setters, IFAC member organizations, academics, and others.
The IESBA is exploring a number of matters related to fees charged by firms to investigate whether there is a need for further enhancements to the Code of Ethics for Professional Accountants or to commission of staff guidance. This survey is part of the IESBA’s fact finding efforts and the responses will help inform the IESBA’s consideration of the relevant matters.
Respondents are asked to submit their completed PDF questionnaires via the IESBA website, using the “Submit a Comment” link. Completed questionnaires are requested by March 1, 2018
The report shares the collective knowledge, ideas, and experience of the committee regarding the role of professional accountants as business leaders and value enablers for organizations, examining:
Enterprise Performance Management;
The Role of Finance Leaders and Business Partners in Technology;
Effective Accountant Involvement in Risk Management;
Creating and Communicating Value through Integrated Reporting and Thinking;
PAO Support Tools;
Audit Quality and Audit Committee Effectiveness; and
Professional Skepticism
IFAC and the Committee are working to drive forward the major initiatives covered in the report. Professional accountancy organizations’ support and input into these initiatives is requested and most welcome. To achieve their mission and objectives, most IFAC member organizations continue to focus on the success of their members working in business and the public sector. However, it is important to continue raising the bar and learning from others so that their membership have the skills they need throughout their careers. In this fast changing world, ongoing skill and competency acquisition and development is more important than ever. Relevance is critical to the reputation of both individual members and their PAOs.
The IFAC accountants in business agenda addresses the areas of opportunity and risk for the profession in the 21st Century, while also enhancing the attractiveness of the profession. The accountancy profession needs to continually ensure our skills and competency remain relevant and support effective business partnership.
Following the Professional Accountants in Business Committee’s September 2017 web meeting, this report shares the collective knowledge, ideas, and experience of the committee regarding the role of professional accountants as business leaders and value enablers for organizations.
The main themes in the report, and in the meeting it flows from, are:
