Bolstering global accounting

Far from just being a business phenomenon, globalisation is a reality that now governs almost each and every aspect of our daily lives. With this in mind, it’s fairly likely that your company is already working with international payments, international clients or both. With a clear goal to make sure the global area is best served, as well as to better educate those who operate within it, the International Federation of Accountants have launched a new website.

International Resources

This dedicated site aims to facilitate professional accountancy organisations in their goal of providing improved support and development for the accountancy profession within developing and emerging economies, and it is designed to offer useful information regarding the current state of global accounting, with industry-specific worldwide maps showing the situation in any given country.

Other useful resources are made available, such as practical guidance notes on best practice within global economies; detailed breakdowns of any accountancy regulations by country and contact details for regional and national organisations of relevance.

Finally, this entirely practical website has also been equipped with the necessary functionality to be able to highlight factors affecting resources concerned with vital topics such as certification and education (nationally and specific to region), globally accepted international standards, key legislation and legal regulation, the building of overall professional accountancy organisations capacity and financial management issues within the public sector. These are all widely agreed to be extremely critical areas concerning the profession as a whole.

A Step Forward

Fayez Choudhury, currently the Chief Executive of IFAC (itself the worldwide organisation for the profession with membership and affiliation in over 130 countries), has described the new website as a facilitator of worldwide knowledge and sharing. To be found at http://www.ifac.org/mosaic, the site could potentially develop into being the main recourse for those companies and individuals seeking information that perhaps might be traditionally covered in ‘top industry news’ bulletins. Ultimately, the consensus is that the site represents a positive step forward towards a greater sense of community and much-needed transparency within the global accountancy industry. It will serve to strengthen the the profession’s global development.