Global economic stability and transparency and the rebuilding of public trust will be greatly enhanced by a determined G20 push for stronger governance across all sectors. In advance of the G20 Summit 2017 in Hamburg, Germany on July 7-8, IFAC issued actionable recommendations for G20 countries that will support both the global economy and the G20’s 2017 objectives.

IFAC calls on the G20 and other key stakeholders in the global economy to collaborate on:

This report details the results of new study that surveyed citizens across the G20 on issues of trust and international taxation. Prepared by the Association of Chartered Certified Accountants, Chartered Accountants Australia and New Zealand, and IFAC, the study draws on the views of more than 7,600 people across G-20 countries.

Some of the key findings include:

Following the World Congress of Accountants 2014, His Holiness Pope Francis addressed the accountancy profession on being a positive force in the fight against fraud and corruption. As my IFAC presidency comes to a close, I today wrote to His Holiness about our subsequent efforts to intently and vigorously respond to his message.

Open Letter to His Holiness Pope Francis

Your Holiness,

On July 20, 2016 more than 50 senior executives, regulators, professionals, and academics gathered in Chartered Accountants Hall, London to discuss and debate how the global regulatory environment can be enhanced—with an ultimate goal of improving confidence in the financial and capital markets, business, and government.

Designed for use by small- and medium-sized practices (SMPs), this brochure explains and differentiates the range of audit, review, compilation, and agreed-upon procedures services SMPs can provide and tailor to meet the needs of their small- and medium-sized entity (SME) clients. It can help current and prospective clients understand the range of services available, as well as their benefits. 

A healthy economy needs a well-functioning accountancy profession, one supplying high-quality financial information produced by skilled professionals. These professionals are best supported by strong professional accountancy organizations (PAOs). A key success factor in achieving this is enhanced collaboration across the global, regional, and national levels of the accountancy profession and the involvement of the entire international development community.

2016 is a crucial year for G-20 countries and the global economy, with new opportunities to create an environment of sustainable, inclusive growth. Given the increasingly interconnected economy, achieving this kind of growth depends on improving integrity and transparency and, in turn, restoring trust in business and government alike.

Given the essential role of professional accountants in business in strong and sustainable organizations, financial markets, and economies, this guidance assists professional accountancy organizations (PAOs) in strengthening engagement with accountants in business, the public sector, and academia as a means to expand their reach, influence, and contribution.

The Guide aims first and foremost to help IFAC member organizations and their members in practice, especially SMPs, with the implementation of ISRS™ 4410 (Revised), Compilation Engagements, which is one of the International Standards on Related Services™ developed exclusively by the International Auditing and Assurance Standards Board (IAASB).