IFAC Looks to Develop National Accounting Organizations Abroad

The International Federation of Accountants is asking for professional organizations of accountants to join it in helping foster similar organizations in developing countries.

The IFAC issued its annual call for “expressions of interest” for organizations wishing to partner in these efforts Friday.

Last year, IFAC, in conjunction with the U.K. Department for International Development, or DFID, which leads the UK’s work to end extreme poverty, entered into an agreement to strengthen professional accountancy organizations in emerging economies (see IFAC Receives $8.2M from U.K. to Develop National Accounting Organizations). Under the agreement, DFID will provide £4.935 million over seven years to strengthen PAOs in at least 10 countries to play a greater role in furthering economic development.

IFAC is inviting other organizations to indicate their interest in providing capacity-building services under the same program. IFAC’s role is to facilitate, coordinate, and supervise projects to strengthen developing professional accountancy organizations’ managerial, financial, and technical capacity so they can drive improvements in professional and ethical standards. Such projects ordinarily include peer-to-peer support by more established PAOs. IFAC member organizations include the American Institute of CPAs.

Expressions of interest can be submitted online to IFAC. Interested organizations need to demonstrate that they have the required qualifications and relevant experience to perform the capacity-building services. Based on information in the expressions of interest, IFAC will evaluate interested organizations and select eligible organizations for the database. In the future, eligible organizations may be invited to bid on specific projects. Further information is available by emailing development@ifac.org and in a questions and answers Web page.

The deadline for submission of expressions of interest is Nov. 20, 2015.

Separately, IFAC is also asking for small and midsize practices to respond to a brief survey on the challenges facing their practice, along with their small and midsize business clients.