As a representative of the accounting-auditing profession, the International Federation of Accountants (IFAC) has compiled important issues and policies affecting the accounting and auditing profession and with society as a whole.
Seven topics that are most interested today, including:
Corporate Reporting: Business reports need to cover all relevant information about the organization. Investors and stakeholders are increasingly demanding, higher quality information, and a deeper understanding of the performance of the business, risks, opportunities, and long-term prospects, especially for sustainability-related issues compared to conventional financial statements. (https://www.ifac.org/what-we-do/speak-out-global-voice/points-view/enhancing-corporate-reporting)
High demands for transparency and accountability in the public sector: This refers to how countries' government agencies can rely on the resources governments have to make information-and-data-driven decisions for governance and management of the public finances (PFM), and how the accounting and auditing profession can contribute to the public sector to help build a sustainable, inclusive and commonwealth future for all. (https://www.ifac.org/what-we-do/speak-out-global-voice/points-view/greater-transparency-and-accountability-public-sector)
Promoting a People-Centric Career: The accounting-auditing profession is first and foremost a profession made up of people – individuals and teams working together and working together. This view highlights the inter-human relationship in the accounting-auditing profession, the core elements of the profession (education-training, career judgment, moral values, human values), and the commitment of the profession to the public interest. (https://www.ifac.org/what-we-do/speak-out-global-voice/points-view/embracing-people-centered-profession)
Maintain trust and confidence in times of crisis: Trust and confidence in times of crisis are the fastest way to recover from a crisis. This view highlights the important role that regulators, the global accounting and auditing sector, and those responsible for corporate governance need to play to maintain trust. .(https://www.ifac.org/what-we-do/speak-out-global-voice/points-view/maintaining-trust-confidence-during-crisis)
Achieving high-quality audits: High-quality financial statement audits are essential for thriving and sustainable institutions, for financial markets and economies. Participants in the audit and services ecosystem ensure action and come up with ways to improve the audit process. (https://www.ifac.org/what-we-do/speak-out-global-voice/points-view/achieving-high-quality-audits)
Combating Climate Change: Climate change is an urgent, global, and systemic issue that can threaten the sustainability of institutions, markets, and the economy as a whole. This view calls on each individual to be part of an action on combating climate change. (https://www.ifac.org/what-we-do/speak-out-global-voice/points-view/climate-action)
Anti-corruption and anti-money laundering: The consequences of corrupt actions are alarming and far-reaching from the direct cost of individuals to society as a whole. Corruption and money laundering make criminal acts more and more and erode trust in institutions. Based on international ethical rules, professional accountants and auditors around the globe play an important role in the fight against corruption. (https://www.ifac.org/what-we-do/speak-out-global-voice/points-view/fighting-corruption-and-money-laundering).
Source: Translation from IFAC's Points of View document (POVs)
Source: VACPA