The PAIB Committee submitted its Comment Letter for the Committee of Sponsoring Organizations of the Treadway Commission (COSO)'s Internal Control - Integrated Framework. The PAIB Committee provides the perspective of professional accountants in business. Among other recommendations, the Committee suggests broadening the scope of the Framework and the definition of internal control as well as including a strategic objective and an objective setting component.
Members of the IFAC Member Body Development team were recently invited to present at a World Bank Financial Management Team of the Africa Region meeting, held in Washington, D.C. in Feburary 2012. The meeting gathered 45 members of the World Bank staff who work across the African continent. This presentation was given by Szymon Radziszewicz, IFAC Senior Technical Manager, on the IFAC Compliance Program, the Statements of Membership Obligations (SMOs) as a framework for a high-quality accountancy profession, and the current status of the profession thought-out Africa. In response to a request from the World Bank, IFAC staff highlighted the key themes in each SMO and the action plan process as well as support tools available from IFAC staff. The World Bank expressed their interest in how they could support the implementation of IFAC SMOs and action plans on the ground in individual nations. The meeting also included an open discussion that focused on the different ways the Compliance Program and the World Bank Financial Management team can increase collaboration.
Nicolas Véron, Senior Fellow Bruegel Institute Visiting Fellow, Peterson Institute for International Economics (Washington DC)
14:15 – 15:45
The Experience in Sweden
Jan Sturesson, Leader, Global Government and Public Services, PwC Bo Lundgren, Former Minister for Fiscal and Financial Affairs Sweden Göran Persson, Former Prime Minister of Sweden
Honorable David Walker, Founder and CEO, the Comeback America Initiative and Former Comptroller General of the US
12:30-13:30
Buffet Lunch—Bruckner/Mahler/Brahms Strauss Room
13:30 – 15:45
The Long Term Fiscal Sustainability of Governments
John Herhalt, Global Chair Government and Infrastructure KPMG LLP Jón Blöndal, Head of Budgeting and Public Expenditures OECD Marco Cangiano, Assistant Director, Head of the Public Financial Management Division International Monetary Fund Robert Dacey, Chief Accountant Government Accountability Office USA Fritz Zurbrügg, Director Swiss Federal Finance Administration
Statements of Membership Obligations 1 through 7 (Revised)
The SMP Committee submitted this letter to the IFAC Board's Exposure Draft, Statements of Membership Obligations. The comments focus on the aspects of most relevance to SMPs, including the scope of quality assurance review systems, IFRS for SMEs, and translation requirement.
Presentation given by Dr. Ahmad Almeghames, Deputy Chair of the Professional Accountancy Organization Development Committee, at the Afghanistan Stakeholders’ Roundtable hosted by the Association of Chartered Certified Accountants, March 2012, Dubai, UAE.
The Professional Accountants in Business Committee was invited to participate in the Institute of Cost Accountants of India's National Cost Convention in New Delhi, India, in March 2012.
Article IFAC's paper calling for enhanced financial management transparency and accountability in the public sector, especially in the midst of the sovereign debt crisis.
