The International Federation of Accountants has released for comment a proposed strategy for projects it plans over the next four years to address the needs of accountants who work within companies or as advisors to businesses.
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The Professional Accountants in Business Strategy and Work Plan for 2013-2016 includes specific initiatives with the goal of improving recognition of the diverse roles professional accountants in business perform and how they need to be positioned to drive successful and sustainable organizations. 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 organizations that comprise IFAC’s membership.
Professional accountants in business can be found working as employees or advisors, often at senior levels such as CFO or controller, IFAC noted. They have the collective power to significantly influence their organizations 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 organizational success,” said Roger Tabor, who chairs IFAC's Professional Accountants in Business 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 organizations. These are the critical areas that organizations 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 organizations.”
The proposed Strategy and Work Plan for 2013-2016 includes specifics for planned projects and initiatives. IFAC member organizations and other stakeholders are invited to provide feedback on the proposals.
To access the exposure draft and submit a comment, visit the PAIB Committee section of IFAC’s Web site at www.ifac.org/paib. Comments on the exposure draft are requested by Jan. 31, 2013. You must register on the site to submit a comment.