Sustainability-Related Reporting Standards, Public Finance Management, Fighting Corruption, and Collaboration All Crucial to Achieving Sustainable Development Goals.
With the emergence of widespread economic and political uncertainty
in 2022 in the wake of the COVID-19 pandemic, IFAC highlights the
interconnection between global cooperation, the sustainability agenda,
the need for strong public financial management (PFM) and the fight
against corruption. IFAC’s 2022 G20 Call to Action builds off the four priorities from IFAC’s 2020 G20 Call to Action and the two key actions set out in 2021 to emphasize that we cannot make progress on any of these issues in isolation.
“Tremendous
interconnectivity is required if we are to make any significant
progress toward achieving the UN’s Sustainable Development Goals. This
is not just within the accountancy profession, but also between
the profession and other UN SDG stakeholders. We commend the efforts of
the G20, and also call on G20 leaders to do even more,” said CEO Kevin
Dancey.
“At the same time, the accountancy profession will
continue to deploy its unique skills and competencies to support strong
and sustainable public and private sector organizations, and strong and
sustainable financial markets and economies. This is our public interest
mandate.”
IFAC’s 2022 Call to Action and its focus on
sustainability-related reporting standards, public financial management,
and anti-corruption aligns with IFAC’s IMPACT approach. Introduced
earlier this year, the IMPACT approach identifies the most important
issues currently facing the accountancy profession, private & public
organizations, and global financial markets & economies, and
provides a framework for the profession to be able to work together to
help drive constructive change. The IMPACT approach is a guide for where
the accountancy profession should be headed, and a tool for increased
collaboration and cohesion within the profession.
To strengthen
global economies, societies, and the environment, and to continue to
address challenges resulting from the COVID-19 pandemic, IFAC calls on
G20 leaders to:
1. Make Sustainability a Reality, Not Just a Goal
- Support the IFRS Sustainability Disclosure Standards
- Implement policies for an inclusive transition
- Balance climate with broader ESG and reporting
- Recognize the role of professional accountants in developing decision-useful sustainability information
2. Support Public Financial Management and Fight Corruption
- Support professionalization in the public sector and adoption of IPSAS
- Implement crucial multilateral commitments against corruption and related issues
- Look to the global accountancy profession as central partners
3. Work Together for Collective Prosperity
- Minimize regulatory fragmentation to drive economic growth
- Understand the importance of global public health and its interplay with PFM
- Resolve global conflicts and focus on long-term issues
IFAC
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