The Zimbabwean Ministry of Finance, the nation’s Public Accountants and Auditors Board (PAAB), IFAC (the International Federation of Accountants) and Chartered Institute of Public Finance and Accountancy (CIPFA), gathered more than 200 senior officials from central and local government to discuss next steps in Zimbabwe’s migration to accrual accounting based on International Public Sector Accounting Standards® (IPSAS®).

Opening the meeting, Finance and Economic Planning Deputy Minister Terence Mukupe reaffirmed the government’s commitment to high quality accrual-based public financial reporting as a cornerstone of sound public financial management and effective, efficient public service delivery.

The Chief Secretary, Office of the President and Cabinet, Dr. M.J.M Sibanda, sent a message of support that confirmed political backing at the nation’s highest level. He acknowledged the contribution of quality accrual-based public financial reporting to enhanced public sector transparency and accountability—an essential element in building trust and confidence in government amongst the people, as well as domestic and foreign investors.

Key development partners in Zimbabwe, including the European Union, International Monetary Fund, UK Department for International Development (DFID), United Nations Development Programme, and the World Bank, shared their expectations for PFM Reform in Zimbabwe. They encouraged the government to use the recently-completed Public Expenditure and Financial Accountability (PEFA) Assessment to develop a national PFM Reform strategy.

Participants actively identified accrual accounting implementation solutions, drawing on global, regional, and local best practices shared by the Chartered Institute of Public Finance and Accountancy (CIPFA), Organisation of English-speaking African Supreme Audit Institutions, the Government of South Africa, and Government of Tanzania.

As an essential partner to government, the accountancy profession committed to continued strengthening of central and local government accountancy capacity—including attendees being offered access to CIPFA’s Certificate in IPSAS.

Key outcomes highlighted by Zimbabwe’s Accountant General, Daniel Muchemwa, included the establishment of a policymaking steering committee that will be supported by an implementation working group comprising meeting participants. They will meet quarterly to establish a high level implementation strategy and monitor progress in the migration to accrual accounting.

The event was supported by IFAC and CIPFA, and funded with UK aid from the UK government.

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 more than 175 members and associates in more than 130 countries and jurisdictions, representing almost 3 million accountants in public practice, education, government service, industry, and commerce.

In 2014, the UK Department for International Development (DFID) reached an agreement with IFAC to provide funding of almost £5 million for PAO capacity building in at least ten emerging countries over seven years. One of the projects under the IFAC Capacity Building Program using DFID funding is currently underway in Zimbabwe.

About DFID

The Department for International Development (DFID) leads the UK’s work to end extreme poverty. We're ending the need for aid by creating jobs, unlocking the potential of girls and women and helping to save lives when humanitarian emergencies hit. For more information visit www.gov.uk/dfid.

About PAAB

The Public Accountants and Auditors Board, Zimbabwe (PAAB) functions in terms of the Public Accountants and Auditors Act [Chapter 27:12]. It is the regulatory body for the accountancy profession in Zimbabwe. The PAAB’s mission is to protect the financial interests of the people of Zimbabwe and those with interests in the Zimbabwean economy by ensuring the maintenance of high standards of professional performance by members of the accountancy profession to foster investment.

IFAC is excited to launch the 2018 Global SMP Survey! As in past years, your support and promotion to your members is vital to its success, and importantly, provides an opportunity for your members to contribute.

The survey helps your member organization and IFAC gain an understanding of the specific challenges and opportunities faced by SMPs and SMEs and as a result, better serve this critical constituency. Individual country results will be available to enable you to compare to regional and global findings.

The #SMPSurvey is open in 20+ languages until May 21, 2018! This year's survey includes new questions on next generation talent, technology developments, talent management initiatives and marketing and branding.

IFAC Member Organizations can use this toolkit with material to share, and translate - when appropriate - with your members. This includes key messaging, a draft e-mail, social media and a PowerPoint promotion slide.

Bruce Cartwright is the Chief Executive Officer of ICAS, having joined ICAS in May 2017 as Executive Director, Policy Leadership and becoming CEO in March 2018. Formerly a Restructuring Partner at PwC, Mr. Cartwright brings 30 years' experience from his time the Big Four firm.

As Head of PwC's Scottish Corporate Restructuring practice from 2001-2016, Mr. Cartwright led the team on a number of high-profile solvent and insolvent corporate restructures in Scotland and internationally. More recently, he was appointed Global Receiver in the Receivership of OW Bunker, a $17 billion turnover Danish-listed company supplying fuel to the global shipping market.

Mr. Cartwright qualified as a Chartered Accountant in 1989. Following an initial period in the Assurance practice, he spent the vast majority of his professional career in PwC's restructuring team. Primarily working across the UK, he also worked in Malaysia, Central Europe, and Denmark. He was seconded to Royal Bank of Scotland and Carnaud Metal Box during his PwC career, and also spend a year at Ernst & Young.

Mr. Cartwright is an experienced ICAS committee member, having chaired the Insolvency Committee, Technical Policy Board, and Oversight Committee in relation to Scottish Independence, and sat on a further three committees. He is also a former member of the ICAS Council.

Accountability. Now. es una iniciativa para mejorar la información financiera pública en todo el mundo. Promueve el cambio. Alienta a los gobiernos a reconocer la importancia de una mejor información financiera que cumpla con las normas internacionales. 

La iniciativa incluye varias actividades:

The B20 has tapped IFAC (International Federation of Accountants) as a Network Partner to its Compliance & Integrity taskforce focused on anti-corruption, and has added three IFAC leaders to taskforces on Integrity & Compliance, Financing Growth & Infrastructure, and SME Development.

Corruption undermines sustainable development and corrodes growth on a regional and global scale. In partnership, the B20 and IFAC are committed to anti-corruption efforts and effective policy critical to safeguarding integrity in the financial system.

“Grounded in a strong ethical code, accountants ensure the financial integrity of the organizations in which they work and are critical for the functioning of stable financial markets,” said IFAC CEO, Fayez Choudhury. “We are pleased to partner with the B20 to advance the global fight against corruption and to recognize the vital work being done every day by more than 3 million professional accountants that IFAC represents and supports.”

The B20 also adds to its taskforces three IFAC leaders to provide professional accountancy’s perspective on critical issues:

• Carol Bellringer, IFAC Board Member – Integrity & Compliance
• Dr. Richard Petty, IFAC Board Member – Financing Growth & Infrastructure
• Manoj Fadnis, IFAC SMP Committee Member – SME Development

“Finding real business and policy solutions to issues such as corruption requires input and commitment by leaders across sectors,” said Dr. Daniel Funes de Rioja, B20 Chair. “In developing the private sector’s voice on global issues, the perspective of accountants will prove indispensable in policy proposals to support both business and the public interest.”

With prominent changes in its business environment in recent years, Argentina’s B20 Presidency provides an amplified stage to advocate for the private sector’s role in advancing public interest outcomes that support healthy economies and societies. 

“Tackling corruption is essential to gain and maintain the public’s trust in business and government. We are eager to play a role in the fight against corruption as part of our global profession, and in this important year of Argentina’s G20 Presidency,” said Dr. José Luis Arnoletto, President of the Federación Argentina de Consejos Profesionales de Ciencias Económicas (FACPCE).

The B20 Argentina will focus on a variety of key challenges, including growth and infrastructure financing, promoting investment, ensuring food accessibility and addressing the challenges of the new industrial revolution.

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 over 175 members and associates in more than 130 countries and jurisdictions, representing almost 3 million accountants in public practice, education, government service, industry, and commerce.

About B20
The Business 20 is the private sector´s voice of the G20 community. It addresses global challenges and priorities defined by the G20 countries, by building solid consensus amongst business leaders, international organizations and civil society regarding how they should be approached. With more than 1000 business leaders from 38 countries, the B20 2018 Argentine cycle, has begun discussions regarding relevant topics such as: Digital Economy and Industry 4.0; Trade and Investment; Employment and Education; Financing Growth and Infrastructure; Sustainable Food Systems; Energy, Resource Efficiency and Sustainability; SME Development; and Integrity and Compliance. On the 4^th and 5^th of October, B20 will present its conclusions and policy recommendations to the G20 Leaders in the Buenos Aires Summit.

IFAC—the International Federation of Accountants—announced today that, after an extensive global search, Mr. Kevin Dancey, FCPA, FCA—former President and Chief Executive Officer of CPA Canada—has been selected as IFAC’s next Chief Executive Officer. He will succeed current IFAC Chief Executive Officer, Fayez Choudhury, whose term expires at the end of the year.

Kevin has a long history of leadership in both the accountancy profession and public service. In addition to leading CPA Canada and the Canadian Institute of Chartered Accountants, he has served as PwC’s Canadian Senior Partner and Chief Executive Officer. Prior to the firm’s global merger with Price Waterhouse, Kevin was Coopers & Lybrand’s national tax practice leader. Beyond the profession, Kevin has served Canada’s citizens in a variety of public service roles. He currently chairs Finance Canada’s Departmental Audit Committee and is National Coordinator of the CPA Canada Martin Family Initiative, which mentors Canadian indigenous youth. Kevin holds a Bachelor of Arts (Hon.) in Mathematics & Economics from McMaster University.

“Kevin’s deep experience running large and complex membership organizations and an accountancy firm provides outstanding foundations to take IFAC forward,” IFAC President, Rachel Grimes said. “His leadership qualities, and his global relationships, will help ensure IFAC continues to grow its leadership role on the world stage.”

“To be selected as the next IFAC Chief Executive Officer is a singular honor—a career capstone,” said IFAC Incoming Chief Executive Officer Kevin Dancey. “Accountants positively influence the global economy in a multitude of ways. I’m looking forward to being a passionate advocate for the 3 million professional accountants represented by IFAC’s more than 175 member organizations in over 130 jurisdictions.”

“IFAC is a vital organization representing the interests of an essential profession,” said IFAC Chief Executive Officer Fayez Choudhury. “I’ve known Kevin for a number of years and I’m delighted that someone with his stature, acumen and experience will take IFAC forward.”

Mr. Dancey joins on May 14, 2018, and will work closely with Mr. Choudhury to ensure a seamless leadership transition.

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 more than 175 members and associates in more than 130 countries and jurisdictions, representing almost 3 million accountants in public practice, education, government service, industry, and commerce.

The 2018 IFAC Global SMP Survey will launch on March 22 and be open until May 21. As in past years, your support and promotion to your members is vital to its success, and importantly, provides an opportunity for your members to contribute. The survey helps your member organization and IFAC gain an understanding of the specific challenges and opportunities faced by SMPs and SMEs and as a result, better serve this critical constituency. Individual country results will be available to enable you to compare to regional and global findings.

The survey, which is issued every two years is designed to be completed by senior professionals of small- and medium-sized practices (SMPs), whose clients are predominately small- and medium-sized entities (SMEs). It is intended to take a snapshot of key issues, and track important trends and developments, facing this sector. The 2016 Survey revealed interesting insights in these areas with responses from more than 5,000 respondents from 164 countries. This year, the survey includes new questions on talent management, technology developments, as well as marketing and branding.

We will be in contact shortly with ways to promote the survey, including:

• Support Materials: This month, you will receive an email announcement with tools to help you share the survey through your membership and network, including, a survey link, messaging (that can be translated), social media suggestions, and infographics.
• Events: We encourage you to use upcoming events and conferences to promote the survey by mentioning it during in speeches and, when appropriate event materials and presentations. IFAC will provide a promotional PowerPoint slide.
• Social Media: IFAC will provide suggested text for Twitter, Facebook, and Linkedin. Follow the conversation at #SMPSurvey

In July 2017, more than 80 representatives representing 15 professional accountancy organizations (PAOs) in the ASEAN region and neighboring Asia-Pacific countries, regional bodies, and donor and development agencies gathered in Hanoi, Vietnam to participate in a Statements of Membership Obligations (SMO) workshop, co-organized by the IFAC Quality & Development (Q&D) staff and the Vietnam Association of Certified Public Accountants (VACPA).

 Under the theme of Realizing the Power of PAOs: Credibility, Competency, and Collaboration, the one day workshop provided PAOs and key stakeholders the opportunity to take stock of the current state of the accountancy profession in the region and discuss challenges and successes affecting the profession. The main discussion points and conclusions from the workshop are available, which will be helpful to those working to strengthen PAOs.