05 November 2012

IFAC: Draft strategy for professional accountants in business initiatives

Since more than half of all professional accountants in the world work in business and the public and not-for-profit sectors, addressing their needs is of great importance to IFAC and the international accountancy organisations that comprise IFAC’s membership.

The strategy and specific initiatives aim to improve recognition of the diverse roles professional accountants in business perform and how they need to be positioned to drive successful and sustainable organisations. Professional accountants in business can be found working as employees or advisors, often at senior levels such as chief financial officer or controller. They have the collective power to significantly influence their organisations in implementing effective governance and an ethical culture supported by integrated risk management and internal control, sustainable leadership, and effective reporting and performance management.

“The Strategy and Work Plan for 2013–2016 sets out a vision to achieve global recognition of the contribution of professional accountants in business as partners in facilitating sustainable organisational success”, said Roger Tabor, chair of the Professional Accountants in Business (PAIB) Committee, which is tasked with carrying out the strategy and initiatives. “The key theme supporting this vision is that professional accountants in business should facilitate integrated governance, thinking, and management, as well as reporting, in organisations. These are the critical areas that organisations are grappling with and require the accountancy profession to raise awareness of their contribution and ensure that their competency matches the needs and expectations of their employing organisations.”

Press release

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