Good governance is fundamental to the effective functioning of the world’s capital markets and to organizations in creating sustainable value for their stakeholders. IFAC strongly believes that the ultimate objective of governance is to ensure the creation of sustainable organizational success and stakeholder value; these are the core elements of every organization that strives to be competitive and sustainable over the long term.

IFAC believes good governance, risk management, and internal control are fundamental to the effective functioning of the world’s capital markets and to organizations, including banks in particular, in creating sustainable value for their stakeholders. Overall, IFAC welcomes enhancements to the Basel Principles as they aim to strengthen risk governance, clarify the role of the board of directors in this regard, emphasize board competence, provide guidance for bank supervisors, and point out the influence of compensation systems.

Revision of the Framework for International Education Standards for Professional Accountants

Objective

To update the IAESB Framework for International Education Standards for Professional Accountants to align to the concepts in the Revised IESs.

Professor Jens Poll became a member of the International Ethics Standards Board for Accountants (IESBA) in January 2018 and retired from the Board in 2023. He was nominated by the Wirtschaftsprüferkammer (WPK) and the Institut der Wirtschaftsprüfer (IDW).

He serves as Non-Executive Director and Audit Committee Chair in several medium-sized companies with global activities. He also teaches law and regulation at the University of Ulm and is, inter alia, Chair of the Commission on Quality Assurance at WPK and member of several committees of the IDW. He served as Managing Partner of a medium-sized accountancy and law firm for 20 years.

On an international level, he presently serves as independent Chair of the European Group of International Accounting Networks and Associations (EGIAN) and is board member of Accountancy Europe. He was a member and Vice Chair of the IFAC Small and Medium Practices Committee and Technical Advisor for a former IESBA member.

Professor Poll holds professional degrees as public accountant, lawyer and tax advisor in Germany.