05 December 2007
In recognition of “World Accountancy Week,” which runs from December 2-8, CIMA (the Chartered Institute of Management Accountants) along with other accountancy organisations around the world has participated in the International Federation of Accountants’ (IFAC) Global Leadership Survey, the results of which have been released this week. The survey highlights issues the profession will be addressing in the coming year and presents perspectives on factors affecting economic growth, both on a national and global level.
Results show that Charles Tilley, Chief Executive of CIMA, together with the vast majority of leaders of national professional accountancy organisations, believes that a strong accountancy profession plays a key role in economic development and that an important focus in 2008 will be maintaining the profession’s good reputation. CIMA is dedicated to providing its students with the best international standards of tuition and examination so that they are able to operate at the highest levels within the global economy and has been building upon its reputation in the business world since 1919.
The IFAC survey also shows that many countries are experiencing a shortage of qualified accountants and, consequently, in the coming year, global accountancy leaders will focus on attracting new accounting talent to their ranks. As a world leading professional institute, CIMA is constantly building its relationships with employers to support them in developing and supporting their professional accountants to drive forward their organisations and create value.
Charles Tilley, Chief Executive at CIMA, says:
“This survey offers valuable insight from international leaders who are very involved not only in the daily workings of the accountancy profession in their countries, but also in their respective regional and national economic infrastructures,”
“The results reflect how essential accountants are to a nation’s potential for economic growth and development.”
Beyond maintaining the profession’s good reputation and attracting new talent, the survey identified the following issues as important to economic growth and development on a national level:
The Global Leadership Survey also sought feedback on the use of International Public Sector Accounting Standards (IPSASs) and their value to government. Respondents indicated that use of these standards would have a positive effect on the economies of their countries or jurisdictions.
As for the future of their national economies, despite the sub-prime loan crisis, most leaders, including Charles Tilley, Chief Executive at CIMA, expressed optimism for 2008. This optimism was attributed to the availability of human capital, the growth of SMEs, and the availability of financial capital. Potential threats to economic growth included a lack of investor confidence in capital markets, corruption, and high energy costs.
A total of 143 Presidents and Chief Executives of 115 IFAC member bodies and associates in 91 countries, including CIMA, as well as eight regional accountancy bodies, participated in this IFAC survey, conducted between October and November 2007.
A summary of survey findings along with responses to the full survey may be obtained from the IFAC website by going to http://www.ifac.org/globalsurvey.
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For further information, please contact:
Katie Scott-Kurti
Senior Press Officer, CIMA
+44 (0) 20 8849 2347
Katie.Scott-Kurti@cimaglobal.com
CIMA (the Chartered Institute of Management Accountants) is the only international accountancy body with a sole focus on business. It is a world leading professional institute that offers an internationally recognised qualification in management accountancy, focusing on accounting in business, in both the private and public sectors. It is the voice of over 158,000 students and members in 161 countries. CIMA is responsible for the education and training of management accountants who work in industry, commerce and not-for-profit and has more members in the public sector than any other UK based body. CIMA prides itself on the commercial relevance of its syllabus, which is in tune with the activities of high performance organisations, and evolves continually to reflect the latest developments in global business. CIMA has been nominated as a UK superbrand for a second year in a row this year and for the first time in Sri Lanka. According to independent research conducted by the University of Bath School of Management, CIMA’s syllabus and examination structure are the most relevant to the needs of business of all the accountancy bodies assessed. See the CIMA Difference report for further information at www.cimaglobal.com/thecimadifference. CIMA is committed to upholding the highest ethical and professional standards of members and students, and to maintaining public confidence in management accountancy. For more information about CIMA, please visit http://www.cimaglobal.com/
