ISA 315 (Revised) is arguably the single most important ISA as it forms the foundation for an audit. The SMPC supports the IAASB revising the standard and commends the Board on the considerable amount of work that has been undertaken in developing the proposals and modernizing the standard. Nevertheless, the SMPC strongly urges the IAASB to take the necessary time to ensure the final version of the standard can be operationalized for audits of all different sizes and complexities.
Mohamed Kabelma is the Head of Regulatory and Accounting Standardization within the Regulatory, Research, Regulation and International Cooperation Department of the General Treasury of the Kingdom of Morocco. He has worked in the General Treasury of Morocco on several missions including participation in the task force in charge of the preparation of Chart of Accounts for Moroccan government accounting system. He also works with the local authorities’ accounting system.
As head of the functional team responsible for the preparation of the accounting reform until 2014, he participated in the development of the new accounting system and its implementation. He has also taught several courses in the new accounting system at the training center of the General Treasury of Morocco and participated in the drafting of accounting instructions.
Mr. Kabelma is a member of multiple specialized technical commissions from the National Accounting Council responsible of the preparation of sectoral accounting plans since 2007. He has also represented the General Treasury of Morocco at International Public Sector Accounting Standards Board and International Standards on Accounting and Reporting meetings as well as OECD events.
Mr. Kabelma has a graduate diploma in Economic Sciences.
Smart regulation, heightened transparency and inclusive growth are needed for global economic progress. These three priorities encapsulate the themes in the IFAC Call to Action ahead of the 2018 G20 Summit.
G20 countries play a crucial role in fostering institutions and governance models that can anticipate, respond to, and mitigate future crises.
With low levels of public trust threatening confidence in the institutions that support the global economy, IFAC's ten recommendations focus on rebuilding this trust.
IFAC (the International Federation of Accountants) today calls upon G20 countries to pursue smart regulation, heightened transparency, and inclusive growth to rebuild trust in institutions and advance global economic progress.
“Low levels of public trust threaten both economic and political stability,” said Fayezul Choudhury, IFAC CEO. “Leaders in government and business must work together to bolster good governance and collaborate for effective public policies that inspire confidence in the institutions supporting the global economy.”
G20 countries play a crucial role in fostering institutions and governance models that can anticipate, respond to, and mitigate future crises. In advance of the 2018 G20 Summit in Buenos Aires, Argentina, IFAC issues 10 actionable recommendations for G20 countries to support the global economy.
Develop Smarter Regulation
Regulation must effectively support the public interest through well-targeted conception, effective design and committed implementation. To achieve smarter regulation, G20 countries must:
Develop and adopt consistent, comprehensive, and high-quality regulation
Create a coherent, transparent global regulatory environment that limits divergence; and
Implement internationally-accepted standards to enhance confidence and stability in the global financial system.
Increase Transparency
Robust transparency in the public and private sectors is key to earn public trust, fight corruption, encourage good governance and promote ethical business practices. To increase transparency in the global economy, G20 countries must:
Strengthen governance in the public and private sectors
Embrace integrated reporting
Enhance public sector financial management; and
Collaborate to tackle corruption.
Enable Inclusive Growth
The fruits of a growing global economy must be shared inclusively to inspire confidence in the future. To enable inclusive growth, G20 countries must:
Foster an environment that supports small- and medium-sized entity growth
Create a secure and digital-ready investment environment; and
Collaborate for a coherent international tax system.
About IFAC IFAC is the global organization for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. IFAC is comprised of more than 175 members and associates in more than 130 countries and jurisdictions, representing almost 3 million accountants in public practice, education, government service, industry, and commerce.
IFAC Recommendations to the G20 Focus on Rebuilding Public Trust
IFAC (International Federation of Accountants) seeks volunteers with a strong commitment to the public interest to contribute to the strength and vitality of accountancy globally and its future by serving on the IFAC board and committees.
The Call for Nominations for the IFAC Board and Committees in 2020 details openings and requirements for successful nominations for membership on the IFAC Board and three IFAC committees— Professional Accountancy Organization Development, Professional Accountants in Business, and Small and Medium Practices Committees.
The Nominating Committee encourages all IFAC members to review the Call for Nominations, including vacancy details and composition targets. Gender equality is especially important to the Nominating Committee to ensure balance; nominations of qualified female candidates are strongly encouraged. The companion guide offers strategic guidance in selecting candidates, including identifying the most qualified and diverse nominee for each available position to reflect the depth and breadth of the global accountancy profession.
Nominations can be submitted online via the Nominations Database by February 15, 2019. Additional information on the Nominating Committee and its open, transparent selection process is available on the Nominating Committee web page.
About IFAC IFAC is the global organization for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. IFAC is comprised of more than 175 members and associates in more than 130 countries and jurisdictions, representing almost 3 million accountants in public practice, education, government service, industry, and commerce.
This Call for Nominations for the IFAC Board and Committees in 2020 sets out the upcoming opportunities for membership in 2020 on the IFAC Board and committees:
