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Building a Future-Ready Professional Accountancy Organization


Building a Future-Ready Professional Accountancy Organization

As the world becomes increasingly complex and uncertain, the accountancy profession needs to adapt to meet future needs and demand. Professional accountancy organizations are essential to this change.

What Does a Future-Ready PAO Look Like?  from the IFAC PAO Development Committee asks the foundational questions that PAOs should consider as part of their strategic planning for the future.

The report references the growing importance of accounting technicians as part of PAOs’ membership and is complemented by the recent. An Illustrative Competency Framework for Accounting Technicians. Recent Global Knowledge Gateway articles from IFAC member organizations also provide insight on building future-ready PAOs.

Preparing for the future also means learning from all fields. The Associations Now newsletter provides learnings from associations of all professions that can greatly benefit PAOs too!

Is your PAO undertaking a future-ready initiative? We'd love to share your story! Email and tell us about your initiative.

International Standards' Adoption: A Holistic Approach

In April, IFAC hosted the Sixth Annual Meeting of the Partnership of International Organisations, spearheaded by the Organization for Economic Co-Operation and Development, with leaders from more than 20 international organizations dedicated to effective international rulemaking.

Widely adopted rules and standards supported by international organizations are the most visible sign of collective efforts to support social and economic stability globally.

IFAC is a proud partner and strongly supports international standards for audit & assurance, ethics, education and public sector accounting. This is evidenced in the 2019 International Standards: Global Status Report, which will be released on October 14, 2019 in celebration of World Standards Day. 

The report analyzes adoption and implementation, as well as accountancy best practices and IFAC member organizations’ role in the process. IFAC member organizations are experts in adoption and implementation guidance and support—crucial to ensuring standards effectively support the nations in which they are embraced.

The 2019 report is the first to cover all IFAC member organizations and their jurisdictions. By establishing this baseline, IFAC hopes to facilitate greater collaboration in tracking adoption trends and increased communication and coordination among accountancy stakeholders and other international rulemaking organizations. Stay tuned for more!