Following a global nominations process, the International Federation of Accountants^® (IFAC^®), the global organization representing the accountancy profession with more than 175 members and associates in 130 countries, today announced the appointment of Kathryn A. Byrne, CPA, as the new chair of the Compliance Advisory Panel (CAP). The appointment was approved by the Public Interest Oversight Board. Ms. Byrne will serve a three-year term beginning January 1, 2016.

In this role, Ms. Byrne will lead the CAP as it oversees the implementation of the IFAC Member Compliance Program (the Program). The CAP is a critical component of the Program, which serves the public interest by promoting the adoption and support of implementation of international standards on private and public sector accounting, auditing, ethics, education as well as the establishment of related quality assurance and enforcement mechanisms. It does this through the Statements of Membership Obligations (SMOs), a recognized international framework for credible and high-quality professional accountancy organizations (PAOs) and the role these organizations play in the global financial system. The CAP also provides expert advice to IFAC staff on membership and enforcement issues, setting strategy in relation to membership, and developing assessment methodology, tools, and guidance in support of the Program.

Ms. Byrne comes to her new role having worked with IFAC and the accountancy profession for a number of years. She has served as the Deputy Chair for the CAP since early 2013 and been a member since 2010. Ms. Byrne is currently a Partner at WeiserMazars LLP and a member of the American Institute of CPAs, the New York State Society of CPAs, and the Women’s Corporate Directors group. She serves on the Board of Directors of Signature Bank and its Audit Committee and the James Madison University College of Business Board of Advisors. Ms. Byrne previously served as a member of the Transnational Audit Committee of the Forum of Firms from 2001 to 2003.

“Kathryn’s experience with the CAP, IFAC, and as a professional accountant make her an excellent leader for the important work that the CAP does for the global profession and in the public interest,” according to IFAC CEO Fayez Choudhury. “As the profession continues to evolve, Kathryn will be able to help ensure that it provides a suitable framework for PAOs to fulfill the SMOs and support their local economies.”

“The IFAC Member Compliance Program helps PAOs support their national accountancy professionals, who provide the foundation for strong and sustainable economies and organizations, which in turn, support the global financial system,” Ms. Byrne said. “As the new Chair of the CAP, I look forward to working with my colleagues to implement the recently issued 2016-2018 Program strategy, maintaining its focus on the role of PAOs and their contribution to the adoption and implementation of international standards.”

About the Compliance Advisory Panel and IFAC Member Body Compliance Program
The Compliance Advisory Panel (CAP) oversees the IFAC Member Body Compliance Program, which serves the public interest by promoting the adoption and support of implementation of international standards on private and public sector accounting, auditing, ethics, education as well as the establishment of related quality assurance and enforcement mechanisms through the Statements of Membership Obligations (SMOs), which serve as a framework for credible and high-quality professional accountancy organizations focused on serving the public interest. As one of IFAC’s public interest activities, the CAP is overseen by the Public Interest Oversight Board. The CAP’s Terms of Reference further describe its role and responsibilities.

About IFAC
IFAC is the global organization for the accountancy profession, dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. It is comprised of more than 175 members and associates in 130 countries and jurisdictions, representing approximately 2.8 million accountants in public practice, education, government service, industry, and commerce.

The International Federation of Accountants^® (IFAC^®) commends the Organisation for Economic Co-operation and Development (OECD) and Group of Twenty (G-20) on delivering a final package of measures in the Base Erosion and Profit Shifting (BEPS) Project.

“The BEPS Project presents a rare opportunity to cooperatively make international taxation work genuinely better in today’s globalized, digital economies,” said Russell Guthrie, Executive Director for IFAC. “Its success or failure will likely hinge on the effectiveness of international collaboration, without which we may end up with more complexities, divergences, and gaps than when we started,” said Mr. Guthrie.

IFAC calls for cooperation and inclusiveness among governments as the BEPS measures are implemented and negotiation proceeds on a multilateral taxation instrument amending over 3,000 bilateral treaties. This strong appeal is reflected in IFAC’s impending recommendations to the 2015 G-20 Leader’s Summit in Antalya, Turkey, along with:

• A call for ongoing analysis of economic impacts; and
• The need for international agreement on a properly resourced dispute resolution mechanism.

The BEPS package emphasizes crucial objectives, including ensuring governments have the resources needed “to jump-start growth, tackle the effects of the global economic crisis and create more and better opportunities,” and restoring “the trust of ordinary people in the fairness of their tax systems.” IFAC believes this is not just a matter of how taxes are collected, but also about how that money is accounted for, managed, and spent by governments. Poor public sector financial management, accountability, and transparency remains a significant problem in many countries.

“The reality is this is not just a conversation about tax, it’s about globalization and a digital economy. A clear, robust conversation grounded in its full economic context is essential to achieving fair and meaningful outcomes, and promoting accountability and transparency across the global economy,” said Mr. Guthrie. “We must realize that BEPS is not a panacea— in a rapidly evolving world, there’s an ongoing need for tackling fundamental, forward-looking questions, research, and ongoing dialogue around taxation.”

Accountants, as advisors and intermediaries, were recognized by the OECD’s Forum on Tax Administration (consisting of Tax Commissioners from 45 countries) for their “vital role in all tax systems, helping taxpayers understand and comply with their tax obligations in an increasingly complex world.”

 “The OECD and G-20 have achieved consensus on many tough issues in a short time, and the global accountancy profession is committed to helping make the BEPS package work for governments, companies, and other taxpayers—furthering the extensive technical input provided throughout its development,” said Mr. Guthrie.

About IFAC
IFAC is the global organization for the accountancy profession, dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. It is comprised of more than 175 members and associates in 130 countries and jurisdictions, representing over 2.8 million accountants in public practice, education, government service, industry, and commerce.

The IFAC SMP Committee acknowledges that the IESBA Exposure Draft: Responding to Non-Compliance with Laws and Regulations is a sensitive and complex topic and commends the Ethics Board on the substantial amount of work and outreach that has been undertaken in moving this project forward. We generally consider that the revised framework has significantly improved.

Transparency and accountability require robust financial information.

Governments around the world are entrusted by their populations to manage their financial resources in a sensible and cost-effective way. They collect revenues, largely through taxation, and in return are expected to deliver a wide range of public services such as education, health, infrastructure and social transfers for the benefit of current and future generations.