The International Federation of Accountants and the donor signatories of MOSAIC (Memorandum of Understanding to Strengthen Accountancy and Improve Collaboration) launched the MOSAIC website last week at the World Congress of Accountants in Rome to support the global accounting profession worldwide. 

IFAC, a global organization for the accountancy profession with members and associates in 130 countries, developed the site with support by the donors. The new site, www.MOSAICdevelopment.org, underpins the collaborative nature of MOSAIC, which aims to strengthen the accounting profession globally by enabling international donors and professional accounting organizations to better support development of the capacity of the accounting profession in emerging and developing economies.

“The MOSAIC website provides a global platform to facilitate knowledge sharing,” said IFAC CEO Fayez Choudhury in a statement. “The launch of this website highlights an important step in a strategic approach to strengthen and maintain the capacity of the accountancy profession in both the public and private sectors and improve the global financial system.”

The site collects resources from different sources into one site to enable users to access regulations governing accountancy in specific nations, guidance on best practices in growth of the profession in emerging economies, and the overall status of broader development issues in varying nations and regions, among other resources.

The site features interactive maps that provide the status of the accounting profession in specific nations, the development need, and national and regional Professional Accountancy Organizations (or PAOs) and contact details.

In addition to national and regional resources, the site also highlights five key topic areas for important resources and news—Education and Certification, International Standards, Legislation and Regulation, PAO Capacity Building, and Public Sector Financial Management, all critical areas for the profession.

MOSAIC is a Memorandum of Understanding that sets out the basis for improving cooperation and collaboration between IFAC, international donors, and the international development community. Its objective is to increase the capacity of professional accountancy organizations in partner countries to improve the quality of public and private sector accountancy and financial management with a view toward enhancing the effectiveness and efficiency of donor assistance, contributing to economic growth, and reducing poverty.

MOSAIC’s signatories are the African Development Bank, Asian Development Bank, Australian Agency for International Development (now Department of Foreign Affairs and Trade Australia Aid), Finland Ministry of Foreign Affairs - Development Cooperation, GAVI Alliance, Global Fund to Fight AIDS, Tuberculosis, and Malaria, Inter-American Development Bank, International Federation of Accountants, New Zealand Aid Program, Swedish International Development Cooperation Agency, U.K. Department for International Development, U.S. Agency for International Development, and the World Bank.

MOSAIC was signed on Nov. 30, 2011, in Busan, Korea at the Fourth High Level Forum on Aid Effectiveness, hosted by the Organization for Economic Cooperation and Development and convened to review global progress in improving the impact and value of development aid and to commit to further ensure that aid reduces poverty and support progress toward the United Nations’ Millennium Development Goals.

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