Professional accountants make a significant contribution to the economy at the local, national and global levels. IFAC partnered with the Centre for Economics and Business Research (Cebr), one of the world’s leading economics consultancies, to get a clearer understanding of these contributions.
In each measure reviewed, a greater number of accountants correlates to better economic performance. Moreover, professional accountants who are members of IFAC member professional accountancy organizations (PAOs) correlate to even stronger performance on economic indicators.
“At IFAC, we have always understood the strong connection between a well-developed accountancy profession and economic development,” said Kevin Dancey, IFAC CEO. “This research will help policymakers around the world have better informed conversations with professional accountants and PAOs about their contributions to society and potential partnerships for development and growth.”
Cebr’s analysis reviewed the accountancy profession in the G20 countries, including each individual country of the European Union. Data was assembled from a range of sources, including the World Bank, World Economic Forum, and Organisation for Economic Cooperation and Development, to establish relationships between economic variables and numbers of accountants and PAO members.
This research follows earlier projects on the positive contributions of the accountancy profession:
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 more than 3 million accountants in public practice, education, government service, industry, and commerce.
IFAC Membership Unlocks Accountancy’s Full Potential
Professional accountants make a significant contribution to the economy at the local, national and global levels. In each measure reviewed, a greater number of accountants correlates to better economic performance. Moreover, professional accountants who are members of IFAC member professional accountancy organizations (PAOs) correlate to even stronger performance on the economic indicators.
This is the second installment of a 6-month publication series titled Anti-Money Laundering, The Basics.
The series provides professional accountants with a better understanding of how money laundering works, the risks they face, and what they can do to mitigate these risks and make a positive contribution to the public interest.
Ahead of the anticipated release of the International Auditing and Assurance Standards Board’s suite of new quality management standards following Public Interest Oversight Board approval later this year, the IAASB has developed implementation plans for each of the three standards. The plans explain what implementation materials stakeholders can anticipate, topics covered, and expected timing.
