The IFAC Small and Medium Practices (SMP) Committee submitted this comment letter to the International Ethics Standards Board for Accountants in response to its Exposure Draft, Proposed Revisions Pertaining to Safeguards—Phase 2 and Related Conforming Amendments.
The IFAC Small and Medium Practices (SMP) Committee submitted this comment letter to the International Ethics Standards Board for Accountants in response to its Exposure Draft, Proposed Revisions to Clarify the Applicability of Provisions in Part C of the Extant Code to Professional Accountants in Public Practice.
Following on the fundamental reorientation the IFAC Professional Accountants in Business Committee made to its meetings and communications in 2016, this report shares the knowledge, ideas, and experience of the committee on developing a future-ready profession.
The main themes in the report, and in the meeting it flows from, are:
Following on the fundamental reorientation of the IFAC Professional Accountants in Business Committee made to its meetings and communications in 2016, the committee has issued a report that shares the knowledge, ideas, and experience of the committee on developing a future-ready profession.
The report is designed to be accessible, with improved navigation, summaries that enable a fast read; and clearly identified future actions and recommendations.
The main themes in the report, and in the meeting it flows from, are:
digital disruption and rapid cognitive business development;
the continued evolution of the profiles of finance leadership and accountants in business;
effective risk management;
how integrated reporting can lead to better reporting outcomes; and
how the new media landscape is changing the way we communicate.
The Committee, made up of an international group of thought leaders from IFAC member organizations, met in New York March 29-30 for its bi-annual meeting, chaired by Charles Tilley, Executive Chairman of the CGMA Research Foundation. Insights from the meeting will help raise awareness of emerging trends, challenges, and opportunities affecting the accountancy profession and accountants in business across the globe, and will help the global profession coordinate activities.
Attendees included 15 members of AFA as well as Christopher Fabling, Senior Financial Management Specialist with the World Bank, who provided an update on current World Bank initiatives in the ASEAN region, and Dan Montgomery, former Deputy Chairman of the International Auditing and Assurance Standards Board, who addressed the New Auditor’s Report.
While in Singapore, IFAC also met with several member organizations to discuss elements of the Compliance Program and other professional accountancy organizations in the region that are interested in membership.
Compiled for the Professional Accountants in Business Committee meeting in March 2017, this presentation addresses tech trends and their impact, and disruption, of accountancy and the finance function.
The presentation is both an overview of key topics and a collection of resources.
This presentation is available to IFAC member organization to share and/or customize. Please contactstathisgould@ifac.orgto request use.
The IFAC Small and Medium Practices Committee welcomes the International Auditing and Assurance Standards Board's agreed-upon procedures Discussion Paper. It strongly believes that the revision of International Standard on Related Services 4400, Engagements to Perform Agreed-Upon Procedures Regarding Financial Information, should be a high priority for the board.
IFAC's Financial Statements are prepared in accordance with International Public Sector Accounting Standards® (IPSAS®) and include an independent auditor’s report.
