IFAC

This week at the International Corporate Governance Network 2024 Annual Conference in London, IFAC partnered with EY for a joint breakfast discussion on the vital role of high-quality, reliable information and corporate governance in tackling greenwashing. IFAC Director David Madon participated in a panel alongside Andrew Hobbs, Liselotte Hägertz Engstam 🌏♦️, Ravi Abeywardana, ACA, Rebecca Donnellan, and Séverine Neervoort. Additionally, he moderated a panel on standards for sustainability reporting and assurance featuring four standard-setters: Gabriela Figueiredo Dias, Tom Seidenstein, Sue Lloyd, and Akira Nozaki. “Investors should not expect to see sustainability assurance at the same level as financial audits—it will continue to be limited in nature. There may also be scope limitations in what information is assured. As we move forward, we should all set the bar high, but not react too negatively to first results of sustainability assurance engagements (modified conclusions, for example) as the entire ecosystem has work to do to bring sustainability information on par with financial information.” – IFAC Director David Madon 👉 Read the event recap here: https://bit.ly/4d45S4f #IFAC #Sustainability #SustainabilityReporting #SustainabilityAssurance

Curious about a day in the life of an IFAC summer intern in New York? Join us as we take you behind the scenes with Lauren Schiffman from our Human Capital team! 👉 Follow us on Instagram here: https://lnkd.in/e7zvYUNY

Accountants are key to enabling Africa's transformation. As trusted advisers, professional accountants can support governments and businesses to access funding and to secure alternative sources of finance, including through innovative public private partnerships and delivering information to enable informed decision making. Read more in our report with the PAN AFRICAN FEDERATION OF ACCOUNTANTS: https://lnkd.in/eFVKThC6

🌍✨ Calling all young professional accountants and accountancy students! 🌱📚 Passionate about ethics, trust, and sustainability in finance? Don’t miss the 10th edition of the Global Prize Ethics & Trust in Finance for a Sustainable Future! Ethics is at the core of IFAC, and we proudly support this initiative with the Observatoire de la Finance and Strategic Partners (CFA Institute, Euroclear, Pictet Group, International Compliance Association). Why apply? The Global Prize is a platform for young professionals (under 35) to inspire change and promote ethics in finance, including accounting and auditing. Submit unpublished essays or engaging videos on Trust and Ethics in Finance. An international jury of finance and ethics experts will select winners in 2025, with a total prize fund of USD $15,000! 💵🌟 Let’s champion ethics and trust in finance for a sustainable future! 🔗 Register here: https://lnkd.in/eBsHwK6b 📅 Submission deadline: March 17, 2025 🔍 More information: https://lnkd.in/essVWyav #IFAC #Accounting #Accountants #EthicsInFinance

A major tenet of Islamic finance is the protection of people, planet, and prosperity, and its underpinnings can give fresh thinking on sustainable development paradigms, interpretations, and approaches. 🌱 Learn more: https://lnkd.in/eE7EzrPB

Working with the Public Interest Committee (PIC), we are pleased to announce the establishment of a Search Committee to select the next Chair of the International Public Sector Accounting Standards Board (IPSASB) for an initial three-year term starting on January 1, 2026. The appointee will succeed Ian Carruthers, IPSASB Chair since 2016. The Search Committee will be chaired by Mr. Vinod Rai, who served as the 11th Comptroller and Auditor General of India, and the chairman of the UN Panel of External Auditors. Mr. Rai has been recognized for strengthening public sector accountability and his legacy includes setting high standards for financial management and improvements in governance practices. The Search Committee includes the following members: • Fergal Costello, Ireland, Principal, Department of Public Expenditure;  • Assietou Sylla Diouf, Togo, Global Managing Director, Integrate Health; • Davit Gamkrelidze, Georgia, Head of the State Treasury; and • Heather Taylor, FCA, FCPA, Canada, EY Partner, Climate Change & Sustainability Services. The Search Committee will start its work in early September and plans to issue its Call for Applications for the next IPSASB Chair by mid-November 2024. Mr. Rai, Search Committee Chair: “Strengthening the public sector to ensure sustainable and strong economic growth is my lifelong passion and career. I am honored by the opportunity to lead the search for this key position working with such esteemed colleagues from around the globe.” Jon Blondal, PIC Co-Chair: “The standards promulgated by the IPSASB have contributed greatly to the advancement of accrual accounting and modernizing public financial management around the world. We look forward to the work of the Search Committee in identifying the next Chair of the IPSASB.” Lee White, IFAC Chief Executive Officer: “With the timely broadening of the IPSASB's scope to include sustainability reporting, the IPSASB's next chair will be vital in continuing this development, which IFAC strongly supports. IPSASB's standards are crucial to effective public sector financial management and strong and sustainable public sector organizations. I am confident that the independent Search Committee, led by Mr. Rai, will find a strong Chair to continue the legacy built by Mr. Carruthers and his predecessors.”

Ethical behavior is a foundation of the trusted work of professional accountants. Our new report with Chartered Professional Accountants of Canada (CPA Canada) and ICAS - The Professional Body of CAs explores how systems steer ethical behavior and how ethical leadership can be enhanced by strengthening those systems. Read it now: https://lnkd.in/gs8NaHvg

✨📑A new groundbreaking report out today from the Financial Action Task Force (FATF), the global anti-money laundering standard setter, “the Horizontal Review of Gatekeepers’ Technical Compliance”, highlights the importance of the legal and accountancy professions to the fight against money laundering, areas where both professions could enhance their roles, and how they could work together to combat it. We are committed to doing just that in partnership with the International Bar Association (IBA). IFAC and IBA have agreed with the FATF to develop a capacity building initiative focused on professional accountancy organizations and bar associations to help them maximize their contributions to the fight against money laundering. We look forward to updating you as we work together to launch this initiative. 🤝 Read the report here: https://bit.ly/3VYoHPz #IFAC #Accounting #AntiMoneyLaundering #AML

Last week in a workshop as part of the PAN AFRICAN FEDERATION OF ACCOUNTANTS (PAFA) General Meeting, we launched our PAO Strategy Planning Toolkit: an end-to-end guide to strategic transformation. This workshop, co-hosted by IFAC’s PAO Development Advisory Group (PAODAG) and PAFA, brought together over 50 PAO leaders who were present in Mauritius for PAFA’s meeting. This toolkit would have not been possible without the strategic alliance of our regional partners, especially PAFA who not only held this launch event but also connected to PAO leaders to help trial the toolkit and inform its development. PAFA also lead the translation of the toolkit into French (out now) with Spanish and Portuguese on the way. Thanks to Alta Prinsloo and team for your collaboration. The need for this toolkit was recognized by the PAODAG who established a workstream chaired by Sheree Ebanks, Cert.Hon., CEO of Cayman Islands Institute of Professional Accountants (CIIPA), with Zarif Ludin FCPA, UK, Head of Institutional Partnerships at ACCA, as content lead, to benefit PAOs in all stages of developing a strategic plan. Achievement of our mission relies heavily on collaboration with diverse stakeholders to drive impactful change. Thank you all for your continuing support. Press release: https://lnkd.in/eJHm_XAu Download the toolkit: https://lnkd.in/euRRZ9FT 📷: Evelyn Mwapasa (PAFA Director), Zarif Ludin (Head of Institutional Partnership at ACCA), Patricia Stock CA(SA) (SAICA Chief Executive Officer), Lee White (IFAC Chief Executive Officer), Issam El Maguiri, Expert-Comptable (CPA), Ph.D (PAFA Board member, OEC Morocco) 📷: PAFA General Assembly

🆕 Just released! 🆕 IFAC, Institute of Chartered Accountants in England and Wales (ICAEW), and the Basel Institute on Governance have published a joint report, titled Integrated Mindset in Practice: Professional Accountants in Business and Anti-Corruption Compliance. 🧠 The concept of an “integrated mindset” encourages company leadership to view financial and sustainability data in an interconnected, holistic way. The report offers practical guidance and actionable strategies to approach anti-corruption initiatives with an integrated mindset, resulting in long-term value creation. It highlights the importance of governance in the context of ESG, promoting a culture of ethical integrity and providing accountants with insights on red flags to watch for during risk assessments 🚩 🔗 Read the full report on our website here: https://bit.ly/4cJb8tS