The International Federation of Accountants^® (IFAC^®), the global organization for the accountancy profession with members and associates in 130 countries, presented its International Gold Service Award (IGS) to Ian Ball, PhD, of New Zealand. The award was presented today by Warren Allen, President of IFAC, at the 2014 World Congress of Accountants (WCOA) Opening Ceremony in Rome, Italy.

“It is indeed a great honor to present Ian with this award,” Mr. Allen said. “As an international thought leader, Ian has played a lead role in addressing issues associated with government financial reporting and financial management. He has been and continues to be a strong and vocal proponent of government transparency and accountability.”

In presenting the award, Mr. Allen highlighted Dr. Ball’s extensive experience in designing and managing public sector financial systems and implementing public sector financial reforms. While serving as the Director of Financial Management Policy and then as Central Financial Controller at the New Zealand Treasury, Dr. Ball designed and implemented the government’s financial management reform process, leading to the adoption of accrual accounting for the New Zealand Government’s budgeting, appropriations, and financial reporting. New Zealand was the first nation to undertake reforms of this kind, which have since become a model for other nations. 

Dr. Ball’s contributions to public sector accounting have had a significant and lasting impact at the global level. As a member and then Chair of the International Public Sector Accounting Standards Board (then the IFAC Public Sector Committee), Dr. Ball initiated setting International Public Sector Accounting Standards^® (IPSASs^®), which are now seen as global benchmarks. Through his influence and actions, more than 80 governments and public sector entities use or are planning to adopt IPSASs.

Dr. Ball served as CEO of IFAC from 2002 to 2013. Previously, he was a member of IFAC’s Nominating Committee as well as Chair of its Public Sector Committee. Dr. Ball currently serves as a Board Member and Chair of the Working Group for the International Integrated Reporting Council. He became Chair of the Chartered Institute of Public Finance and Accountancy (CIPFA), International in September 2013, where he has continued to address global issues of public sector finance and transparency.

About the IFAC International Gold Service Award
The IFAC International Gold Service Award was created by the IFAC Council in 2010 to recognize outstanding individual contributions to the accountancy profession. Past recipients include Mervin King of South Africa (2012), Sir David Tweedie of the UK (2011), and Stephen Zeff of the US (2011).

About the World Congress of Accountants (WCOA)
Sponsored by of the International Federation of Accountants (IFAC), the WCOA is the foremost international event for the profession, bringing together thousands of delegates from around the world to discuss, share, and debate ideas and global solutions to the issues affecting the profession in the interest of the world’s citizens, investors, and businesses. It has been held every five years since 1977 and every four years since 2002, and attended by professionals and prominent business leaders, including professional accountants, international regulators, standard setters, government officials, and corporate leaders.

WCOA 2014, hosted by the Consiglio Nazionale dei Dottori Commercialisti e degli Esperti Contabili (CNDCEC), takes place November 10-13 in Rome’s Auditorium Parco della Musica. The theme—2020 Vision: Learning from the Past, Building the Future—explores the pivotal role of accounting amid rapid economic, political, and social change. The Chartered Global Management Accountant (CGMA) designation is the imperial sponsor.

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. Founded in 1977, it is comprised of over 175 members and associates in 130 countries and jurisdictions, representing approximately 2.5 million accountants in public practice, education, government service, industry, and commerce. 

The International Federation of Accountants^® (IFAC^®), the global organization for the accountancy profession, today announced the election of its President, Olivia Kirtley of the United States, for a two-year term ending in November 2016. Ms. Kirtley is the first female President of IFAC, as well as the first from business and industry rather than public accounting. The IFAC Council also announced the election of Rachel Grimes of Australia as Deputy President, a position previously held by Ms. Kirtley.

“This is an exciting time for IFAC with challenges and opportunities for the profession at every level,” Ms. Kirtley said. “As President, I look forward to engaging with member bodies and our many stakeholders as we seek ways to advance the impact and value of our profession, and in serving the public interest.”

Ms. Kirtley, a Certified Public Accountant and Chartered Global Management Accountant, is a non-executive director of US Bancorp, Papa John’s International, and ResCare, Inc. She began her career with an international accounting firm, followed by 20 years of executive management positions with a publicly traded global manufacturer and subsequent joint venture of Emerson Electric Co. and Robert Bosch GmbH. She is a former Chair of the American Institute of Certified Public Accountants (AICPA) and the AICPA Board of Examiners. Ms. Kirtley is a recognized advocate for strong corporate governance and was named by the National Association of Corporate Directors (NACD) Directorship 100 as one of the top corporate directors and governance professionals in the US. First elected to the IFAC Board in 2007, Ms. Kirtley became Deputy President in November 2012. She has chaired the Planning and Finance Committee, Constitution Review Working Group, and a task force for enhancing service to professional accountants in business, in addition to being a member of the Nominating Committee, Regulatory Liaison Group, and the independent Task Force on Rebuilding Public Confidence in Financial Reporting.

Ms. Grimes is CFO Technology at Westpac, a multinational financial services firm; she previously served as Director of Mergers and Acquisitions. She has more than 24 years of experience across the financial services sector, at Westpac/BT Financial Group as well as at PwC. A member of Chartered Accountants ANZ and CPA Australia, Ms. Grimes has served the Australian accounting profession over a significant period. She was elected to the Board of the Institute of Chartered Accountants Australia in 2006 and was appointed President in 2011. Ms. Grimes became a member of the IFAC Board in November 2011. As Deputy President, she will chair the Planning and Finance Committee; previously she was a member of this committee, as well as the former Governance and Audit Committee.

Commenting on the leadership transition, outgoing IFAC President Warren Allen said, “As I hand over the presidency to Olivia, I know that I will be leaving IFAC in the most capable of hands. She has been a great source of support for me during my term, and was a leader on key initiatives that have enhanced and will sustain the accountancy profession and help to transform IFAC into a more responsive and sustainable organization.”

“Rachel’s experience in the financial services industry, focusing on acquisitions, accounting processes, and technology, and the need for global policies that enhance transparency, together with her experience as a volunteer leader of a major member body, will be an asset in the Deputy President’s role,” Mr. Allen added.

New Board Members Elected
The IFAC Council also elected five new members to the IFAC Board: Raphael Ding (Hong Kong), Richard Petty (Australia), Kumar Raghu (India), Shinji Someha (Japan), and Joy Thomas (Canada). The IFAC Council also re-elected Ahmadi Hadibroto (Indonesia) and Masum Turker (Turkey). These members add to the diversity of the IFAC Board—in gender, geography, and professional experience.

IFAC Admits New Members
The IFAC Council admitted three new associates: the Chamber of Authorized Auditors of Republic of Serbia, the Indonesian Institute of Public Accountants, and the Non Profit Audit Association “Sodruzhestvo” of Russia. Two existing associates were admitted as members: the Association of National Accountants of Nigeria and the Institute of Certified Management Accountants of Sri Lanka. Additionally, IFAC admitted the Dutch Institute of Management Accountants as a member.

For a full listing of IFAC members, see the membership section of IFAC’s website.

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 over 175 members and associates in 130 countries and jurisdictions, representing approximately 2.5 million accountants in public practice, education, government service, industry, and commerce.

In its response to the AICPA’s Discussion Paper, Enhancing Audit Quality: Plans and Perspectives for the US CPA Profession, IFAC recognizes the importance of audit quality and global efforts to enhance audit quality by, among other things, contributing to the development, adoption, and implementation of high-quality, internationally accepted auditing and quality control standards and guidance.

The International Ethics Standards Board for Accountants^® (IESBA^®, the Ethics Board) today released for public comment the Consultation Paper, Improving the Structure of the Code of Ethics for Professional Accountants™ (the Code). The paper seeks input from stakeholders on approaches that could be taken to improve the clarity and usability of the Code, thereby facilitating its adoption, effective implementation, and consistent application.

Among the various matters on which the Ethics Board is consulting are:

• Restructuring the Code to more clearly distinguish requirements from guidance;
• Reorganizing the content of the Code, including rebranding the Code, or parts thereof, as international standards;
• Identifying responsibility for compliance with the Code in particular circumstances; and
• Simplifying the wording of the Code so that it can be more readily understood.

“This is a seminal initiative which could result in a completely new presentation of the Code that would make it more accessible, understandable, and enforceable,” noted Interim IESBA Chair Wui San Kwok, adding, “These aims are central to enhancing the usability of the Code and thereby its further adoption globally in the public interest.”

The paper includes illustrative examples of how a restructured Code might be presented. The input received from the consultation will supplement the Ethics Board’s research to date and inform its views of the way forward. This may in due course lead to the publication of an Exposure Draft containing the Ethics Board’s proposals for restructuring the Code and addressing any of the related issues set out in the paper.

“The board has received strong support from stakeholders to take a fresh look at the structure of the Code as a priority,” said IESBA Technical Director Ken Siong. “The current thinking is that an improved structure would provide a platform for future development and maintenance of the Code, and allow for more user-friendly features, including increased search and query capabilities.”

In connection with this project, a web-based version of the Code—to enhance accessibility and navigability—is currently in development and will be launched later this month.

How to Comment
The Ethics Board invites all stakeholders to comment on the Consultation Paper. To access the document and submit a comment, please visit the Ethics Board’s website at www.ethicsboard.org. Comments are requested by February 4, 2015.

About the IESBA
The International Ethics Standards Board for Accountants is an independent standard-setting board that develops and issues, in the public interest, high-quality ethical standards and other pronouncements for professional accountants worldwide. Through its activities, the IESBA develops the Code of Ethics for Professional Accountants, which establishes ethical requirements for professional accountants. The structures and processes that support the operations of the IESBA are facilitated by IFAC. Please visit www.ethicsboard.org for more information, and follow us on Twitter @Ethics_Board.

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. IFAC is comprised of 179 members and associates in 130 countries and jurisdictions, representing approximately 2.5 million accountants in public practice, education, government service, industry, and commerce.