Chief executive officers of accounting institutes around the world are urging accountants to embrace change and seize opportunities.
During a plenary session panel at the World Congress of Accountants 2010 in Kuala Lumpur, Malaysia, the CEOs stress that increased globalization and the recent financial crisis have placed the profession squarely in the spotlight.
“Professional accountants play a key role in reporting on financial results and providing assurance on those reports, which is particularly important in this challenging time,” notes Ian Ball, Chief Executive Officer of IFAC. “Going forward, the profession is certain to continue to evolve.”
Citing an example, Ball says integrated reporting—which encompasses an organisation’s economic, social, and environmental results—will become the norm, and the profession will play a key role in providing assurance on non-financial results, as well as embedding these results into strategy and performance management.
"As we lead this transformation, we will need to enhance our collective skills and competencies. We expect these changes will increase the profile of the profession and help us continue to attract the best and brightest to the profession.”
Chaired by Ball, the plenary session panel also included Alex Malley, CEO, CPA Australia; Barry Melancon, President & CEO, American Institute of Certified Public Accountants; Michael Izza, CEO, Institute of Chartered Accountants of England and Wales; Helen Brand, CE, Association of Chartered Certified Accountants; and Charles Tilley, CEO, Chartered Institute of Management Accountants.
The 18th World Congress of Accountants, hosted by the Malaysian Institute of Accountants and IFAC, was held November 8–11, 2010, in Kuala Lumpur, Malaysia.
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