High-quality financial reporting is at the heart of strong capital markets and sustainable economic growth. All those involved in the financial reporting supply chain play a critical role in the quality and reliability of financial information.
High-quality financial reporting is at the heart of strong capital markets and sustainable economic growth. All those involved in the financial reporting supply chain play a critical role in the quality and reliability of financial information.
Director, Forum of Firms
United States of America
Barry Naik (he/his) is the Director for the Forum of Firms (FoF) which currently comprising over 30 member Network firms is headquartered out of IFAC's New York office. At the FoF, Mr. Naik leads various initiatives in support of further advancing Audit Quality.
Mr. Naik started his career in legislative audit working for several years at the Office of the Comptroller and Auditor General of New Zealand followed by a secondment to the Office of the Auditor General of Canada and then the Canadian Public Sector Accounting Board. Mr. Naik has also spent time with the International Public Sector Accounting Standard Board.
He has a BCA and BA from Victoria University, Wellington, New Zealand and is a Chartered Accountant with Chartered Accountants Australia & New Zealand (CA ANZ). Outside of work Barry enjoys fitness, quality time with family and friends and is a long time volunteer with The Trevor Project.
Read an interview with Barry here.
Chair
I am truly delighted to be here today to participate in this important event. My thanks and congratulations to Jorge Paganetti and to FACPCE for hosting CReCER this year.
The title of this session is Key Factors for the Development of Capital Markets.
We will hear from a variety of speakers, including representatives of the World Bank, the Inter-American Development Bank, and the Global Public Policy Committee.
They will speak about openness, transparency, the public sector, and the role of the auditor. I would like to spend a few minutes on IFAC’s role, and how we work with the other organizations to support efficient, effective capital markets.
Good afternoon, ladies and gentlemen. I am truly delighted to be here today to participate in this important event. We have been anticipating this event for 4 or 5 years now, and I know a lot of people have worked very hard to make this happen and to make PAFA a reality.
My congratulations to Matsobane Matlwa, Chairman of the PAFA Steering Committee and all stakeholders involved in the development of PAFA. And many thanks to Mamour Fall, President of ONECCA Senegal, for hosting this event, and to Aziz Dieye and Patrick Kabuya, Members of the Steering Committee, for actively contributing to its organization.
And, on behalf of IFAC, congratulations to Senegal on your big move in the FIFA world rankings. Even though it was announced several weeks ago, I thought there would still be parties to celebrate! But we have enough to celebrate with the launch of PAFA.
It’s an important step. To me, one of the most impressive things is that this was done during a period of global financial crisis!
ISACA and IFAC have jointly developed this paper to provide accounting and assurance professionals with guidance to leverage value from XBRL (eXtensible Business Reporting Language) initiatives and compliance requirements. The benefits and opportunities of embedding XBRL within internal processes can enhance management communication, thus increasing the value of information used within an organization. Examples and case study material are included.