PAIB Committee members are often asked "What exactly does an accountant in business do?" Most members of the public have some perception of the traditional work carried out by accountants but with regard to those working outside that sphere, they seem unsure. The PAIB Committee produced this paper in an effort to demonstrate the many areas in which accountants work in and for business.

A new international study, commissioned by the Board of the International Federation of Accountants (IFAC), identifies the challenges to adopting and implementing International Financial Reporting Standards (IFRSs) and International Standards on Auditing (ISAs) and recommends actions to be taken by all those in the financial reporting supply chain to achieve convergence to international standards.

The primary objective of this Research Report is to determine if an IPSAS should be issued on budget reporting. In its initial strategy papers prepared in 2000 and 2001, the IFAC Public Sector Committee (PSC) identified budget reporting as a key public sector specific issue to be addressed in the second phase of its standards setting program.

This paper explores the role of all accountants -- whether they act as independent auditors, accountants in management positions or in any other professional capacity -- in ongoing public- and private-sector efforts to safeguard against money laundering. The paper draws attention to numerous risks that could lead to or reveal money laundering situations and provides best practices to help accountants address those risks.

The Professional Accountants in Business Committee (PAIB) of IFAC was asked by the IFAC Board in October 2002 to explore the emerging concept of enterprise governance. A particular focus of the project was to consider why corporate governance often fails in companies and, more importantly, what must be done to ensure that things go right.

Enterprise Governance: Getting the Balance Right in full is also available.

The Professional Accountants in Business Committee (PAIB) of the International Federation of Accountants (IFAC) was asked by the IFAC Board in October 2002 to explore the emerging concept of enterprise governance. A particular focus of the project was to consider why corporate governance often fails in companies and, more importantly, what must be done to ensure that things go right.

An Executive Summary is also available.

This report, which was produced by the independent IFAC-commissioned Task Force on Rebuilding Public Confidence in Financial Reporting, provides recommendations for strengthening corporate governance, improving audit effectiveness, and raising the standard of regulation of issuers. It also presents an international perspective on the challenges facing not only the accountancy profession, but also those involved in regulating a profession that has such a significant involvement in capital markets worldwide.

"Earnings Quality" has been a subject of investigations by regulators in many countries, articles in most, if not all, business publications, and significant debate in recent years. It is a matter of importance in the financial reporting and regulatory communities, and it impacts the confidence of investors in global financial markets. For this reason, the American Institute of CPAs in the U.S.

This Occasional Paper describes the major reform program for the public sector accounting system implemented by the French Government. The paper highlights some of the key arguments influencing the decision to adopt a new dual system and outlines the steps taken by the French government to move from the current system to an accrual basis for financial reporting.

The 2002 theme booklet focuses on the theme of Risk Management from both the traditional review of the financial risks of a company and the emerging application of risk management techniques in the areas of strategy, reputation and people.