The International Federation of Accountants (IFAC) opens IFAC Connect AsiaPac 2025 in Jakarta tomorrow, an invitation-only gathering bringing together more than 250 leaders shaping the future of the accountancy profession across the Asia-Pacific region and beyond. Hosted in partnership with the Institute of Indonesia Chartered Accountants (IAI), the event takes place alongside IAI’s 68th Anniversary celebration at the Fairmont Hotel Jakarta.

IFAC Connect convenes senior representatives from professional accountancy organizations, global and regional standard setters, regulators, major firms, and investor communities to confront the forces reshaping trust, sustainability, and governance in a period of rapid global disruption.

The agenda includes a keynote address from Ibu Sophia Wattomena, Chair of the Audit Board and Member of the Board of the Commissioner, Indonesia Financial Services Authority (OJK), followed by a discussion between IFAC Chief Executive Officer Lee White and leaders from IFAC Network Partners CAPA and AFA on shared regional priorities and emerging opportunities for collaboration.

Sessions throughout the day will explore early lessons from the global rollout of enhanced corporate reporting, the modernization of qualification pathways, the future of talent pipelines, the expanding leadership of women in the profession, and the profession’s emerging role in AI assurance and ethical oversight. A conversation on trust and tax will draw on insights from IFAC, OECD, CAANZ, and ACCA, reflecting growing expectations for transparency in global tax systems.

IFAC Chief Executive Officer Lee White said: “The global accountancy profession should continue leading, proactively and decisively, helping shape resilient financial systems by bringing trust to reported information and preparing talent for a world defined by a rapid pace of digital and geopolitical disruption. IFAC Connect AsiaPac brings together the Asia-Pacific region, which is swiftly grappling with the global economic transformation, to confront these challenges with clarity, collaboration, and shared purpose.”

IAI President Ardan Adiperdana said: “This gathering reflects Indonesia’s growing influence and the profession’s commitment to strengthening transparency, accountability, and sustainable growth across the region. As we mark IAI’s 68th Anniversary, we are honored to welcome global leaders whose collaboration will help chart the profession’s path forward.”

IFAC Connect AsiaPac 2025 discussions will culminate in closing reflections from regional leaders on how collective action can strengthen the profession’s relevance and resilience in the years ahead.

Following Nairobi, Riyadh, and Mexico City, this is the final IFAC Connect event of the year that will build the foundation of a 2026 agenda with bold leadership.

About IFAC

IFAC, by connecting and uniting its members, makes the accountancy profession truly global.

IFAC member organizations are champions of integrity and professional quality, and proudly carry their membership as a badge of international recognition.

IFAC and its members work together to shape the future of the profession through learning, innovation, a collective voice, and commitment to the public interest.

Public Trust in Tax 2025: Asia and Beyond, produced by the Association of Chartered Certified Accountants (ACCA), the International Federation of Accountants (IFAC), Chartered Accountants Australian and New Zealand (CA ANZ) and the Organisation for Economic Cooperation and Development (OECD), surveyed more than 12,000 individuals across 29 countries, primarily in Asia but also in Latin America, Western Europe and the Pacific.  The report explores perceptions and personal experiences of taxation, as well as attitudes towards tax competition and co-operation to provide i

At IFAC, we believe strong Professional Accountancy Organizations (PAOs) are essential to a healthy global economy. They are trusted voices on financial reporting, ethics, and public accountability. To lead effectively, PAOs must be strategic, resilient, and focused on delivering real value to their members and stakeholders.

Today, we’re announcing the second edition of the IFAC Professional Accountancy Organization (PAO) Strategy Planning Toolkit: Continuous Learning and Improvement Edition. This updated toolkit simplifies and streamlines guidance, introduces new resources, and integrates an embedded Value Proposition Framework to help PAOs define and communicate their value, measure what matters, and adapt with confidence. These improvements come directly from user feedback and reflect IFAC’s own strategy proposition to deliver value to its members.

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Lee White, IFAC Chief Executive Officer, said, “We’ve seen firsthand how a clear and dynamic strategy strengthens purpose, focus, and impact. This second edition of our toolkit builds on lessons from our own strategic planning process, emphasizing continuous learning, adaptability, and measurable value. It’s about helping PAOs turn strategy into action, ensuring they remain relevant and resilient in a rapidly changing environment.” 

Jelena Misita, Chair of IFAC’s PAO Development Advisory Group, said, “We listened closely to PAOs using the first version, and one message was clear: they want to better define and demonstrate their value. The new edition integrates a Value Proposition Framework as an essential part of strategic planning, helping PAOs strengthen relevance, demonstrate impact more effectively, and align strategy and resources with their purpose.”

Patrick Kabuya, Senior Financial Management Specialist, the World Bank, said, “We appreciate the opportunity to collaborate with IFAC in promoting and supporting the rollout of the updated toolkit. We believe this toolkit will help build stronger, more sustainable, and relevant PAOs, which are essential for fostering trust, accountability, and transparency — key factors in driving sustainable economic growth.”

Sixto Coy, President, Institute of Chartered Accountants of the Caribbean (ICAC) said, “The Caribbean profession is strengthened when our PAOs have access to practical tools that help them plan strategically and deliver measurable value. IFAC’s updated toolkit reinforces our shared commitment to building trust, relevance, and resilience across the region’s accountancy profession.”

The toolkit was officially launched today ahead of an IFAC Value Proposition workshop co-hosted with ICAC and the World Bank in Barbados. This marks the culmination of a global rollout that included soft launch workshops with the Fédération Internationale des Experts-comptables Francophones in Lyon in September and with the Saudi Capital Market Authority and the Saudi Organization for Chartered and Professional Accountants in Riyadh on October 1 during IFAC Connect MENA.

We express our appreciation to Jelena Misita, Chair of the PAO Development Advisory Group, along with Berry Wammes, Chair of the Value Proposition Workstream, Panagiotis Alamanos, Chair of the Strategic Planning Workstream, and all workstream members for their leadership and valuable contributions.

The IFAC PAO Strategy Planning Toolkit is available now in English with translations to Arabic, Dutch, French, and Spanish coming soon.

Learn from the PAOs themselves how the toolkit has helped them become more resilient.

About IFAC
IFAC, by connecting and uniting its members, makes the accountancy profession truly global.

IFAC member organizations are champions of integrity and professional quality, and proudly carry their membership as a badge of international recognition.

IFAC and its members work together to shape the future of the profession through learning, innovation, a collective voice, and commitment to the public interest.

IFAC joins the South African and global accountancy profession in mourning the passing of Prof. Rashied Small, a dedicated and transformative leader who made an enduring impact on the profession.

Prof. Small—known fondly to many simply as “Prof”—served as a valued member of the IFAC International Panel on Accountancy Education, where he played a key role in advancing several initiatives, including revising International Education Standard 6, developing the Panel’s strategy, and, most recently, the “Human to Human Skills” innovation team. His passion for nurturing people and developing their potential reflected both his character and his lifelong commitment to education and ethical leadership.

IFAC extends our heartfelt condolences to Prof. Small’s family, friends, and colleagues at the South African Institute of Professional Accountants (SAIPA) and the African Virtual Institute of Accountancy (AVIA) and across the global profession.

We encourage our community to read SAIPA’s tribute post, which so beautifully captures who Prof. Small was and the profound influence he had on those around him.

A worldwide search has launched for volunteers to serve as members on the International Public Sector Accounting Standards Board (IPSASB) for terms commencing January 1, 2027. IPSASB is an independent standard-setting body that serves the public interest by setting high-quality standards for use by public sector entities globally in the preparation of general purpose financial reports.

Opening Doors: Six Principles of Best Practice to Increase Access to Accountancy Qualifications provides a practical framework for IFAC’s members and other professional accountancy organizations (PAOs) to welcome talent from diverse backgrounds, remove unnecessary barriers, and adapt qualification pathways—while maintaining the high standards that underpin public trust.

The International Federation of Accountants (IFAC) released the International Standards: 2025 MENA Insights Snapshot to benchmark international accountancy standards adoption and implementation trends across the Middle East and North Africa from 2019–2024. The report was launched at IFAC Connect MENA 2025 in Riyadh, co-hosted with the Saudi Organization for Chartered and Professional Accountants (SOCPA). 

The snapshot, available in English and Arabic thanks to translation by SOCPA, shows that adoption of international standards has accelerated significantly across MENA in recent years. Nearly all jurisdictions in the region have taken steps to align with International Standards on Auditing, International Financial Reporting Standards, and the International Code of Ethics for Professional Accountants. Several countries have made notable progress in embedding International Public Sector Accounting Standards into public sector reporting frameworks, reflecting growing recognition of the importance of transparency in government finances. 

Differences in regulatory oversight, technical capacity, and resourcing are opportunities for advancement, particularly in public sector reporting and among smaller professional accountancy organizations.  

Lee White, IFAC Chief Executive Officer, said: 
“The 2025 MENA Insights Snapshot demonstrates both the progress and the challenges in ensuring that adoption progresses into implementation. IFAC Connect MENA is the perfect platform to launch this work, because the discussions here are focused on turning commitments into action, aided by the leadership of the accountancy profession. Adoption is a first step and real impact comes when standards are embedded in practice and serve the public interest.” 

Dr. Ahmad Almeghames, CEO of SOCPA and IFAC Board Member, said: “We’re proud to see that Saudi Arabia is the only jurisdiction in the region to have adopted all seven baselines. This achievement reflects the Kingdom’s commitment to advancing the profession and aligning with the highest international benchmarks and serves as an example for the wider MENA region showing how strong leadership, investment in capacity, and collaboration across regulators, standard setters, and the profession can accelerate progress.” 

The report will inform IFAC’s ongoing work with MENA member organizations, regulators, and development partners to strengthen capacity, accelerate adoption, and ensure consistent, high-quality implementation across the region. 

Access the 2025 MENA Insights Snapshot in English and Arabic.  

About IFAC 
IFAC, by connecting and uniting its members, makes the accountancy profession truly global. 

IFAC member organizations are champions of integrity and professional quality, and proudly carry their membership as a badge of international recognition. 

IFAC and its members work together to shape the future of the profession through learning, innovation, a collective voice, and commitment to the public interest. 

The new International Public Sector Financial Accountability Index 2025 Status Report, published by the International Federation of Accountants (IFAC) and Chartered Institute of Public Finance and Accountancy (CIPFA) with support from the International Public Sector Accounting Standards Board (IPSASB), highlights steady, gradual progress in governments worldwide moving from cash to accrual-based financial reporting.  

Accrual accounting provides governments with a clearer picture of their finances by recording the substance of transactions as they occur, rather than when cash transfers occur. This transparency helps inform decision-making and improves the ability to hold governments to account for their decisions. 

Key findings of the report: 

• By 2030, 56% of jurisdictions are projected to report on an accrual basis. This represents steady progress since the 2020 Index but at a slower pace than anticipated, reflecting the financial and operational strains governments faced during and after the pandemic. 
• In 2024, high-income jurisdictions made up the majority of accrual adopters (57%), but by 2030, the landscape will shift. 60% of jurisdictions using accrual are projected to come from middle- and low-income economies. 
• By 2030, 81% of accrual-reporting jurisdictions are expected to be applying International Public Sector Accounting Standards (IPSAS) either directly, with modifications, or as the foundation for national standards. 

Lee White, Chief Executive Officer at IFAC said: "Accrual based reporting is essential for public sector transparency and accountability. It is also the foundation for the use of global IPSAS Standards. Our members fulfil a vital role in advising and supporting governments in their journey with the use of accrual accounting and global standards delivering clear accountability.” 

Owen Mapley, Chief Executive Officer at CIPFA said: “Strengthening public financial management through accrual reporting is fundamental to addressing today’s fiscal challenges and building sustainable futures. It is encouraging to see the shift from cash to accrual has continued despite the impact of the pandemic.” 

Ian Carruthers, IPSASB Chair said: “The increasing usage and influence of the IPSAS Standards underlines the importance of the shift in IPSASB’s new 5 year strategy towards maintenance of the standards suite, in particular through the recent establishment of the IPSASB Application Group.” 

Explore the report.  

About IFAC 

IFAC, by connecting and uniting its members, makes the accountancy profession truly global. 
 
IFAC member organizations are champions of integrity and professional quality, and proudly carry their membership as a badge of international recognition. 
 
IFAC and its members work together to shape the future of the profession through learning, innovation, a collective voice, and commitment to the public interest. 

About CIPFA 

CIPFA, the Chartered Institute of Public Finance and Accountancy, is the professional body for people in public finance. Our 14,000 members work throughout the public services, in national audit agencies, in major accountancy firms, and in other bodies where public money needs to be effectively and efficiently managed. 

About the IPSASB

The International Public Sector Accounting Standards Board (IPSASB) works to strengthen public financial management globally through developing and maintaining accrual-based International Public Sector Accounting Standards (IPSAS Standards), IPSASB Sustainability Reporting Standards (IPSASB SRS™ Standards) and other high-quality financial reporting guidance for use by governments and other public sector entities. It also raises awareness of IPSAS Standards and IPSASB SRS Standards and promotes the adoption and implementation of these to enhance the quality and consistency of practice throughout the world and strengthen the transparency and accountability of public sector finances and sustainable development. The Board receives support from the Asian Development Bank, the Chartered Professional Accountants of Canada, the New Zealand External Reporting Board, the government of Canada, and The World Bank. The structures and processes that support the operations of the IPSASB are facilitated by the International Federation of Accountants (IFAC®). For copyright, trademark, and permissions information, please go to permissions or contact permissions@ifac.org.   

The International Standards: 2025 MENA Insights Snapshot presents a regional overview of progress toward the adoption and implementation of international standards across audit, ethics, education, and public and private sector financial reporting, as well as the adoption and implementation of quality assurance systems and investigation and discipline mechanisms. The findings reflect both momentum in adoption progress while at the same time, identifying persistent barriers that are challenging the pace and depth of progress across the region.