Global Accountancy Leaders Identify Key Issues for 2012

The difficult global financial climate and enhanching the reputation and credibility of the profession are among the key issues identified by accountants worldwide.


The International Federation of Accountants (IFAC), the global organisation for the accountancy profession, has released the results of its 2011 IFAC Global Leadership Survey of the Accounting Profession.


“The difficult financial climate was a strong theme in this year’s survey,” says Ian Ball, chief executive officer of IFAC.


Survey respondents also note that a key concern is addressing the needs of SMPs and SMEs, important engines of economic growth and development that could be instrumental in improving the world’s economies. 


Continued global regulatory convergence—which can help promote growth and development, reduce economic uncertainty, and enhance international financial stability—was also highlighted as a significant issue. Addressing the ongoing sovereign debt issues, which are impacting growth and contributing to economic uncertainty, were also highlighted as key concerns for 2012.


Additional concerns for this year include: issues related to EU draft legislation; role of the professional accountant in business; and auditor independence.