This week, a coalition of 11 global and regional accountancy organizations and international development agencies, led by IFAC, the International Federation of Accountants, convened a three-day conference to bring awareness to how effective public financial management is critical to the advancement of emerging economies.

The conference, Developing Accountancy Capacity in Emerging Economies, features a series of keynotes and workshops designed to equip accountants, government officials, stakeholders and other practitioners with a roadmap for facilitating conversations and driving progress in their respective jurisdictions.

“Accountancy capacity development efforts, like this conference, are most effective when national, regional, and global organizations come together with a laser-focus on a common cause. IFAC, with the support of the UK Department for International Development (DFID), is grateful to be able to catalyze the convening of institutions that comprise the financial management eco-system, in order to enhance awareness and collaboration,” said Kevin Dancey, IFAC CEO.

The accountancy profession plays an essential and significant role in a country’s sustainable economic development in both the public and private sectors. Not only has a strong and vibrant accountancy profession been regularly associated with lower levels of fraud and corruption, but there is also a recognized correlation between a strong accountancy profession and higher levels of economic growth. Supporting the development of accountancy capacity can be a catalyst to the success of the state-building strategies implemented by international development actors.

Dr. In-Ki Joo, IFAC President, said: “The role of professional accountants is to manage the financial information required by all stakeholders, and to develop the insights needed for sound decision-making that helps promote economic, social and political stability. This important connection between accountancy and economic development is something that organizations, including the DFID, the World Bank, the Asian Development Bank and the Global Fund, have understood for a number of years and we are grateful for their ongoing partnership.”

Aman Trana, Director, Procurement, Portfolio, and Financial Management Department of the Asian Development Bank, said: “One of ADB’s operational priorities under its Strategy 2030 is to strengthen governance and institutional capacity of its developing member countries. Professional accountants play a critical role in this area by supporting public financial management institutions improving their public service delivery, financial efficiency, and transparency and accountability, thereby accelerating poverty reduction and achieving sustainable development.

IFAC extends its sincere appreciation to its partners and hosts for making the conference possible: DFID, the World Bank, the Asian Development Bank, the Global Fund, the Malaysian Institute of Accountants, the Confederation of Asian and Pacific Accountants, the ASEAN Federation of Accountants, the South Asian Federation of Accountants, and the Arab Federation of Accountants and Auditors.

About IFAC
The International Federation of Accountants (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.

About the Asian Development Bank
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. In 2018, it made commitments of new loans and grants amounting to $21.6 billion. Established in 1966, it is owned by 68 members—49 from the region.

IFAC, the International Federation of Accountants, is pleased to recognize Mr. Aki Fujinuma of Japan with its Global Leadership Award for his service to the accountancy profession.

Among his many achievements, Mr. Fujinuma helped build public confidence in the accountancy profession over the past two decades. His actions, which included launching a quality-control initiative in Japan and other countries to ensure confidence in audit, significantly contributed to that effort in the region and around the world.

Mr. Fujinuma is a well-known leader both within and outside of the profession, having been recognized by the government of Japan for his leadership and contributions to the accountancy profession and Japanese society. He is a past president of IFAC (2000-2002) and played a significant role promoting IFRS adoption in the Asia-Oceania region as a former vice chair of the IFRS Foundation.

Mr. Fujinuma’s accomplishments also include serving as an IFRS Foundation trustee, a member of the Financial Accounting Standards Foundation of Japan and the International Auditing and Assurance Standards Board, and as chairman and president of the Japanese Institute of CPAs, which awarded him its Grand Prize of the Day of CPAs. He has served as an outside director of many large corporations, including the Japan Exchange Group, and as one of the Governors of Japan Exchange Regulation.

“I am honored to present the Global Leadership Award to Aki, for whom I have the deepest respect,” said Dr. In-Ki Joo, IFAC President. “At a critical time, Aki built bridges between the profession and key stakeholder groups—and he continues to do so. Aki’s efforts have resonated at difficult moments and he continues to be a powerful advocate for the accounting profession on the global stage.”

Established in 2017 by the IFAC Board, the IFAC Global Leadership Award recognizes individuals who make outstanding contributions to the global accountancy profession. The award honors the contributions of Robert Sempier, IFAC’s first executive director who greatly contributed to the development of the profession worldwide.

The Global Leadership Award was presented during IFAC’s 2019 Council meeting, held from November 13 to 14 in Vancouver, Canada.

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.