Watch CPA Australia's May 18 webinar about IESBA's Technology Initiative, featuring Mr. Brian Friedrich (Chair of Technology Working Group) and Mr. Greg Driscoll (Member of IESBA’s Technology Task Force).
Proposed Revisions to the Definitions of Listed Entity and Public Interest Entity in the IESBA Code
The IFAC SMP Advisory Group believes that the approach for a global PIE definition should be narrow, rather than broad. Otherwise the situation arises where PIEs at an international level are not PIEs under local legislation in several parts of the world and it leads to inconsistent practices. Whilst going beyond this may be necessary in a few jurisdictions and for certain cases (i.e., this would be determined in legislation), exclusions of entities or additions by individual firms would be far less appropriate from a stakeholder’s and public interest perspective.
IFAC’s Professional Accountants in Business (PAIB) Advisory Group has compiled insights on key global trends impacting the future readiness of the accountancy profession in a new report Enabling Purpose Driven Organizations: PAIBs Leading Sustainability and Digital Transformation.
This report includes highlights from the PAIB March 2021 meeting, focusing on:
Enabling value creation and sustainability
Delivering on climate change
How procurement and supply chain operating models are changing the role of finance functions
The changing nature of work and remote finance Gen Z and the future of accountancy
Public sector priorities to support COVID-19 recovery
IFAC PAIB Advisory Group Chair Sanjay Rughani says: “It is important we continue to drive forward the key areas of the PAIB agenda and share our learnings across the global accountancy profession. Together, we can enable a PAIB-relevant profession that is attractive to the new generation entering the workforce.”
Convening virtually over two days, IFAC’s Professional Accountants in Business (PAIB) Advisory Group, a dynamic global group of business and finance leaders, shared their insights on key global trends impacting the future readiness of the accountancy profession.
Together with Chartered Professional Accountants of Canada (CPA Canada), today the International Federation of Accountants (IFAC) released The Professional Accountant’s Role in Data.
As economies digitize, the accountancy profession must adapt to contribute strategically. The Professional Accountant’s Role in Data outlines a new model, the data management value chain, in which accountants can, by building upon key competencies, reimagine their roles to meaningfully contribute to the digital economy.
Stathis Gould, director of advocacy at IFAC says: "This is an urgent and opportune moment for the accountancy profession to leverage the disruption of the expanding digital economy, embrace enhanced roles in the data management value chain, and guide businesses and organizations of all kinds into a sustainable and prosperous future."
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 180 members and associates in 135 countries and jurisdictions, representing more than 3 million accountants in public practice, education, government service, industry, and commerce.
