The future of business lies with the accounting profession. Join the world’s leading financial experts in Sydney, Australia, November 5-8, 2018 for the next World Congress of Accountants. This year’s theme, Global Challenges. Global Leaders., will inspire and inform your thinking on the future of accounting and our profession, and provide a unique opportunity to help shape that future.

Five reasons to attend:

• Learn, adapt and accelerate your career through a technology-enabled curated conference experience.
• Ignite new business opportunities via thought leadership, turning ideas into solutions, and shaping the future of the profession.
• Network with 6000+ motivated professionals from 130 countries. Join the conversation at the Business Connect Hub and stay in touch with the Congress app.
• Explore cutting edge technology across more than 50 exhibits, expo presentations, activity and chillout zones, and barista coffee lounges.
• Be delighted by Sydney at its best through an immersive social program, from cruising the world’s largest natural harbour to our premier Gala event.

Full details and the latest news, including the Program, is available on the World Congress of Accountants 2018 website.

IFAC, the International Federation of Accountants, today announced its first accountancy capacity building project in Southeast Asia. The project will assist the Myanmar Institute of Certified Public Accountants (MICPA) in its work to strengthen the accountancy profession in Myanmar. IFAC has selected the Association of Chartered Certified Accountants (ACCA) to partner with MICPA on the project.

ACCA will partner with MICPA to build a sustainable professional accountancy organization that can act as the cornerstone of the profession in the country. The project will deliver a strategic plan and new governance structure for MICPA, in consultation with key national stakeholders.

“This project will contribute to Myanmar’s ongoing economic reform in line with the new government’s policy of liberalization, which includes modernizing the accountancy profession,” said Alta Prinsloo, IFAC Executive Director, Quality & Development. “As the first project under this Program in Southeast Asia, it offers opportunity to make a positive impact in the region.”

Myanmar, currently in the process of democratic transition, is one of East Asia’s fastest growing economies. The new government is committed to attracting investment for sustainable growth, and its support of this project demonstrates its recognition of the critical role that the accountancy profession can play in this process.

This project is funded with UK aid from the UK government. In 2014, the UK Department for International Development (DFID) reached an agreement with IFAC to provide funding of almost £5 million for PAO capacity building in at least ten emerging countries over seven years. Projects under the IFAC Capacity Building Program using DFID funding are currently underway in several countries including Ghana, Kyrgyzstan, Rwanda and Zimbabwe.  Partner organizations are selected following global Calls for Expressions of Interest and an extensive proposal and review process by the IFAC PAO Capacity Building Program Independent Selection Panel.

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.

About DFID
The Department for International Development (DFID) leads the UK’s work to end extreme poverty. We're ending the need for aid by creating jobs, unlocking the potential of girls and women and helping to save lives when humanitarian emergencies hit. For more information visit www.gov.uk/dfid.

About MICPA
The Myanmar Institute of Certified Public Accounts is a professional body of Certified Public Accountants in Myanmar. The mission of the body is to communicate with international accountancy bodies and to distribute information to its members. MICPA was found under the Myanmar Accountancy Council (MAC), a policymaking body of accountants and auditors.

The IFAC Small and Medium Practices Committee had responded to the Fees Questionnaire towards the end of February 2018. On a macro level, it is the view of the Committee that the issue of fees is multi-faceted and IESBA will need to develop a more holistic approach to tackle any issue, perceived or otherwise in this domain in their next Strategic Work Plan 2019-2023. It is hoped that the data collected from this Survey will assist in shaping the IESBA’s work effort going forward.

It’s time to fix a costly fracture in the global economy.

IFAC (International Federation of Accountants) and Business at the OECD (BIAC) surveyed over 250 regulatory and compliance leaders from major global financial institutions to estimate that a piecemeal approach to financial sector regulation costs the global economy $780 billion USD a year.

The Zimbabwean Ministry of Finance, the nation’s Public Accountants and Auditors Board (PAAB), IFAC (the International Federation of Accountants) and Chartered Institute of Public Finance and Accountancy (CIPFA), gathered more than 200 senior officials from central and local government to discuss next steps in Zimbabwe’s migration to accrual accounting based on International Public Sector Accounting Standards® (IPSAS®).

Opening the meeting, Finance and Economic Planning Deputy Minister Terence Mukupe reaffirmed the government’s commitment to high quality accrual-based public financial reporting as a cornerstone of sound public financial management and effective, efficient public service delivery.

The Chief Secretary, Office of the President and Cabinet, Dr. M.J.M Sibanda, sent a message of support that confirmed political backing at the nation’s highest level. He acknowledged the contribution of quality accrual-based public financial reporting to enhanced public sector transparency and accountability—an essential element in building trust and confidence in government amongst the people, as well as domestic and foreign investors.

Key development partners in Zimbabwe, including the European Union, International Monetary Fund, UK Department for International Development (DFID), United Nations Development Programme, and the World Bank, shared their expectations for PFM Reform in Zimbabwe. They encouraged the government to use the recently-completed Public Expenditure and Financial Accountability (PEFA) Assessment to develop a national PFM Reform strategy.

Participants actively identified accrual accounting implementation solutions, drawing on global, regional, and local best practices shared by the Chartered Institute of Public Finance and Accountancy (CIPFA), Organisation of English-speaking African Supreme Audit Institutions, the Government of South Africa, and Government of Tanzania.

As an essential partner to government, the accountancy profession committed to continued strengthening of central and local government accountancy capacity—including attendees being offered access to CIPFA’s Certificate in IPSAS.

Key outcomes highlighted by Zimbabwe’s Accountant General, Daniel Muchemwa, included the establishment of a policymaking steering committee that will be supported by an implementation working group comprising meeting participants. They will meet quarterly to establish a high level implementation strategy and monitor progress in the migration to accrual accounting.

The event was supported by IFAC and CIPFA, and funded with UK aid from the UK government.

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.

In 2014, the UK Department for International Development (DFID) reached an agreement with IFAC to provide funding of almost £5 million for PAO capacity building in at least ten emerging countries over seven years. One of the projects under the IFAC Capacity Building Program using DFID funding is currently underway in Zimbabwe.

About DFID

The Department for International Development (DFID) leads the UK’s work to end extreme poverty. We're ending the need for aid by creating jobs, unlocking the potential of girls and women and helping to save lives when humanitarian emergencies hit. For more information visit www.gov.uk/dfid.

About PAAB

The Public Accountants and Auditors Board, Zimbabwe (PAAB) functions in terms of the Public Accountants and Auditors Act [Chapter 27:12]. It is the regulatory body for the accountancy profession in Zimbabwe. The PAAB’s mission is to protect the financial interests of the people of Zimbabwe and those with interests in the Zimbabwean economy by ensuring the maintenance of high standards of professional performance by members of the accountancy profession to foster investment.

IFAC is excited to launch the 2018 Global SMP Survey! As in past years, your support and promotion to your members is vital to its success, and importantly, provides an opportunity for your members to contribute.

The survey helps your member organization and IFAC gain an understanding of the specific challenges and opportunities faced by SMPs and SMEs and as a result, better serve this critical constituency. Individual country results will be available to enable you to compare to regional and global findings.

The #SMPSurvey is open in 20+ languages until May 21, 2018! This year's survey includes new questions on next generation talent, technology developments, talent management initiatives and marketing and branding.

IFAC Member Organizations can use this toolkit with material to share, and translate - when appropriate - with your members. This includes key messaging, a draft e-mail, social media and a PowerPoint promotion slide.

Bruce Cartwright is the Chief Executive Officer of ICAS, having joined ICAS in May 2017 as Executive Director, Policy Leadership and becoming CEO in March 2018. Formerly a Restructuring Partner at PwC, Mr. Cartwright brings 30 years' experience from his time the Big Four firm.

As Head of PwC's Scottish Corporate Restructuring practice from 2001-2016, Mr. Cartwright led the team on a number of high-profile solvent and insolvent corporate restructures in Scotland and internationally. More recently, he was appointed Global Receiver in the Receivership of OW Bunker, a $17 billion turnover Danish-listed company supplying fuel to the global shipping market.

Mr. Cartwright qualified as a Chartered Accountant in 1989. Following an initial period in the Assurance practice, he spent the vast majority of his professional career in PwC's restructuring team. Primarily working across the UK, he also worked in Malaysia, Central Europe, and Denmark. He was seconded to Royal Bank of Scotland and Carnaud Metal Box during his PwC career, and also spend a year at Ernst & Young.

Mr. Cartwright is an experienced ICAS committee member, having chaired the Insolvency Committee, Technical Policy Board, and Oversight Committee in relation to Scottish Independence, and sat on a further three committees. He is also a former member of the ICAS Council.