The International Federation of Accountants (IFAC), hosted by the Japanese Institute of Certified Public Accountants (JICPA), convened the IFAC Professional Accountants in Business (PAIB) Advisory Group meeting in Tokyo, Japan this week. The meeting brought together leading finance professionals, industry experts, and global standard-setters to discuss the most pressing issues facing PAIBs, including chief financial officers and finance functions, boards and their audit committees, and their role in shaping the future of corporate governance, sustainability, and risk management.
As an integral part of IFAC’s commitment to supporting its member organizations and the global accountancy profession, this meeting reinforced the value that IFAC delivers to its members through thought leadership, knowledge sharing, and advocacy, helping IFAC shape the future of the profession, ensuring it remains globally connected, enabling strong and sustainable financial markets and economies.
The two-day event explored a range of critical topics, including:
- The impact of global geopolitical and economic trends on business and finance professionals;
- Advancing corporate and sustainability disclosures to meet investor expectations;
- Strategies for enhancing integrated thinking and governance for business transformation and resilience;
- Innovating in enterprise risk management to enhance decision-making and risk reporting; and
- Growing the profession by attracting and retaining top talent.
Sessions featured distinguished speakers from international organizations, including the International Sustainability Standards Board (ISSB), the International Accounting Standards Board (IASB), and leading financial institutions and companies. The discussions provided valuable insights into how accountants can navigate an increasingly complex global environment and deliver long-term value for their organizations.
Lee White, Chief Executive Officer, IFAC, said: “Our member value focuses on supporting our members with contemporary resources, tools and insights. Our members use these resources to help their members, professional accountants in business and the public sector navigate developments and best practices to shape the future of the profession and our contribution to society. The IFAC PAIB Advisory Group plays a vital role in leading and developing our work with the evolving global needs of professional accountants in business for stronger economic prosperity for all.”
Tetsuya Mogi, Chairman and President of JICPA, stated: “JICPA was honored to host this important meeting, which brought together global PAIB leaders to bring a united voice to the challenges and opportunities shaping the future of our profession. As the role of accountants in business continues to evolve, collaboration through IFAC’s advisory groups ensures that we can collectively enhance governance, reporting, and strategic decision-making to create a more sustainable and resilient economy.”
Sanjay Rughani, Chair of the IFAC PAIB Advisory Group, said: “This meeting provided an invaluable forum for PAIBs to collaborate, share insights, and drive meaningful change. Our global collaboration and collective voice provide insights on innovating sustainability, governance, and risk management practices to drive business transformation and accountability. As finance professionals, we must lead the way in fostering long-term value creation and resilience in the organizations we serve.”
The outcomes of this meeting will inform IFAC’s ongoing efforts to support PAIBs worldwide and strengthen the profession’s ability to respond to the mega trends reshaping global business priorities.
About IFAC
IFAC, by connecting and uniting its members, makes the accountancy profession truly global.
IFAC member organizations are champions of integrity and professional quality, and proudly carry their membership as a badge of international recognition.
IFAC and its members work together to shape the future of the profession through learning, innovation, a collective voice, and commitment to the public interest.
About JICPA
The Japanese Institute of Certified Public Accountants (JICPA) is the professional accounting body in Japan, committed to upholding the highest standards of professional excellence and ethics. JICPA plays a critical role in ensuring the integrity and transparency of financial reporting and corporate governance in Japan.
About IFAC’s PAIB Advisory Group
Formed in 1977, the PAIB Advisory Group is comprised of volunteers with experience and expertise in the world of business and the public sector, nominated by the professional accountancy organizations that make up IFAC’s membership.
By bringing these experts together, IFAC delivers thought leadership, fosters collaboration, and equips its member organizations with tools and strategies to support their members in navigating complex, evolving business landscapes.