Insight 2005 archives

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Accountancy leaders unite to support developing nations

The International Federation of Accountants (IFAC), the global organisation for the accountancy profession, convened a meeting in London this week at CIMA's London headquarters, committing international support to developing nations and clarifying professional responsibilities.

Attendees included chief executives of 30 member bodies and regional accountancy organisations, as well as representatives of the World Bank and the United Conference on Trade and Development (UNCTAD). The group discussed a global agenda for enhancing the accountancy profession's contribution to economic growth and development.

Participants agreed that the international profession should strengthen accountancy in developing nations, address professional responsibility in financial reporting, clarify the role of accountants in corporate governance, provide support and guidance for professional accountants in business and focus on supporting small and medium sized enterprises and practices.

Charles Tilley, CIMA's chief executive and IFAC board member, commenting on the meeting, said, "CIMA was delighted to be offered the opportunity to host this IFAC meeting. The international accountancy profession will play an integral part in the creation of stronger and more stable economies in the developing world and this was addressed at the meeting.

IFAC discussions centred on the fact that if real and measurable progress is to be made in this area it will need to leverage its resources with member bodies and outside agencies. IFAC needs to promote the role of professional accountants in business as well as making a long-term commitment to the development of the profession as a whole, thereby providing a high quality profession that can effectively serve public interest and meet investor needs."

For further information please contact:

Peter Stanhope, senior press officer, CIMA
peter.stanhope@cimaglobal.com

Tel: 020 8849 2347