Presentation by IFAC President Warren Allen at the Institute of Public Accountants National Congress, Queesnland, Australia, November 8, 2013

1. Institute of Public Accountants
National Congress
“The Global Accounting Profession:
Working to Strengthen the Global Economy”
Warren Allen, President
International Federation of Accountants
November 8, 2013
Queensland, Australia
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2. IFAC Overview
Contributing to strong and sustainable organizations,
financial markets, and economies
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3. IFAC Operating Lines
Developing and representing the profession;
enhancing economic stability
• Supporting standards
development
• Improving quality and
capacity
• Supporting the profession
• Global representation and
advocacy
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4. Supporting Standards Development
Facilitating the development of high-quality
international standards
• Foster high-quality financial
information
• Promote confidence in markets
• Enhance public resource
management
• Facilitate regional and international
economic integration
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5. Improving Quality and Capacity
Supporting high-quality PAOs and strengthening
the profession
• Member Body Compliance
Program
• Professional Accountancy
Organization (PAO)
Development
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6. Supporting the Profession
Providing thought leadership, resources, and insight;
enhancing visibility and voice
• PAIB and SMP Committees
• IFAC Global Knowledge
Gateway
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7. Global Representation and Advocacy
Leveraging IFAC’s position as an independent public
interest voice for the profession
• Promote profession's
interests
• Stimulate discussion
• Convene interested
stakeholders
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8. Recruiting the Best & Brightest
If trends continue, the
accountancy profession
may be unable to properly
meet the demands of our
global communities.
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9. Government Transparency and Accountability
“Fiscal transparency is a critical
element of effective fiscal
policymaking and the management
of fiscal risks.”
- IMF 2012 report “Fiscal Transparency,
Accountability, and Risk”
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10. Enhanced Organizational Reporting
Non-financial reporting is
important for:
•
Decision-making
•
Promoting transparency
•
Discharging accountability
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11. Credibility and Usability of Financial Reporting
All components of the
“financial reporting
supply chain” need to be
high quality to support
strong and credible
financial reporting.
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12. Supporting Continued Economic Growth
“Accounting plays an
essential role in economic
development.”
- UN Conference on Trade and
Development - International
Standards of Accounting and
Reporting
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