The PAIB Committee published its new International Good Practice Guidance, 'Predictive Business Analytics: Improving Business Performance with Forward-Looking Measures'. This is designed to help professional accountants in business working in commerce, industry, financial services and the public.
Professional accountants in business can use predictive business analytics to identify new opportunities for growth and improvement in their organisations, as well as to highlight areas for corrective actions and strategy adaptations. Predictive business analytics can help any organisation select the appropriate actions and best decisions to improve performance and achieve sustainable organisational success.
“Predictive business analytics is a tool that professional accountants should use to help their organisations better understand likely future performance outcomes”, said Roger Tabor, chair of the PAIB Committee. “Professional accountants in business should be able to assist their organisations in making the most of predictive business analytics and forward-looking indicators of performance to improve strategy and performance management enterprise-wide.”
This International Good Practice Guidance assists professional accountants in business as they contend with rising expectations from their organisations. The quality of management information expected by internal business users is expanding, both in terms of the range of data to be considered and the level of required analysis. From strategic issues to routine tasks, executives, managers, and operational staff require higher-quality information from professional accountants to support strategic and operational decision making.
Press release
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