Convened by the International Federation of Accountants^® (IFAC^®), the Accountability. Now. coalition, comprising civil society organizations, major international bodies, and the accountancy profession, met for the first time to develop strategies to encourage high-quality public sector financial reporting, greater government transparency and accountability, and empowered citizen engagement.

IFAC Chief Executive Officer Fayez Choudhury commented, “Poor public sector financial management can lead to economic stagnation and contraction; severe social problems that impact future generations; and a widened gulf between government and its citizens.

“IFAC initiated Accountability. Now. to help drive awareness of the critical need for high-quality, transparent, comparable public sector financial reporting, and the importance of engaging citizens in the process of holding governments to account.

“Some of the world’s poorest countries have the most to gain from having high-quality government reporting to better manage scarce public sector resources, attract investment, and promote accountability. IFAC will be focusing much of its efforts on helping these countries implement strategies to embrace high-quality reporting, based on International Public Sector Accounting Standards™, and encourage citizens to be part of the fiscal process.

“Understanding the true costs of government services, including all assets and liabilities, is central to good government and global growth. This is an issue that should be of concern to everyone, not just accountants and that’s the exciting part of Accountability. Now.

“The coalition represents a range of different organizations with the skills and experience to help push for a better social contract between governments and their citizens, at a time when there is enormous pressure on governments to work with tighter budgets and deliver better social outcomes,” Choudhury said.

In addition to the accountancy profession, represented by IFAC and the Big 6 accountancy firms, the coalition includes the Organisation for Economic Co-operation and Development and the Global Initiative for Fiscal Transparency, whose members include International Budget Partnership, International Monetary Fund, World Bank Group, and the Brazilian and Philippines Governments. 

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. It is comprised of more than 175 members and associates in 130 countries and jurisdictions, representing approximately 2.5 million accountants in public practice, education, government service, industry, and commerce.

To assist developing professional accountancy organizations (PAOs) around the world communicate their value and establish or advance public policy efforts, the International Federation of Accountants^® (IFAC^®) today released new guidance for PAOs, Finding Your Voice: PAOs, Advocacy, and Public Policy. The guidance offers practical advice to help PAOs create an environment in which professional accountants are listened to, can speak out on topical societal issues, and are seen as an integral, respected, and contributing part of society.

“The success of any PAO relies in large part on its ability to effectively communicate and demonstrate its relevance to society,” said IFAC CEO Fayez Choudhury. “As part of IFAC’s support for developing PAOs, we want to help them find and use their voices effectively in support of the public interest and in a way that builds trust and confidence—in them and in the profession.”

As the global body for the accountancy profession that regularly engages with PAOs around the world, IFAC is in the unique position of being able to collate and communicate good practices based on real experiences shared by existing and prospective IFAC member bodies.

The guidance outlines the essential elements of an effective approach to engaging stakeholders and includes practical tips as well as short case studies of PAOs who have experienced success.

“We know that the accountancy profession is most successful and sustainable when PAOs have the support of their national and regional stakeholders, including government and regulators,” said Alta Prinsloo, Executive Director, Strategy, and Chief Operating Officer, IFAC. “Obtaining that support requires sustained, targeted outreach to decision makers and stakeholders, focused on demonstrating a PAO’s value. This guidance will help PAOs on that journey.”

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. It is comprised of more than 175 members and associates in 130 countries and jurisdictions, representing approximately 2.5 million accountants in public practice, education, government service, industry, and commerce.