The International Federation of Accountants has received £4.935 million ($8.256 million) in funding from the United Kingdom’s Department for International Development, or DFID, for the purpose of strengthening professional accountancy organizations around the world.

The funding will be concentrated in 10 DFID focal countries within four regions (Asia, the Caribbean, the Middle East and North Africa, and Sub-Saharan Africa), to indicate DFID’s recognition of the need to improve accounting globally and its understanding that better accounting can grow and stabilize economies by maintaining organizational control and sustaining capital markets.

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