Last Friday marked the official start of significant accountancy capacity building programs in Ghana and Burkina Faso led by the International Federation of Accountants (IFAC), Gavi, the Vaccine Alliance, and the Global Fund to Fight AIDS, Tuberculosis and Malaria. The programs will develop the capacity of the accountancy profession in Ghana and Burkina Faso by supporting the Institute of Chartered Accountants of Ghana and the Ordre National des Experts Comptables et des Comptables Agréés du Burkina Faso. IFAC has partnered with the Pan African Federation of Accountants (PAFA), which will play the role of the program and project manager for implementing the pilot projects in both countries.

By focusing on strengthening the accountancy profession’s infrastructure, these pilot projects will support robust accounting practices in the public health sector, improve overall financial management of donor funds, and provide long-term benefits to the economy and society in Ghana and Burkina Faso.

“Developing the global accountancy profession’s capacity has many benefits across local, regional and national economies and societies—none more important the sound public financial management and oversight of public health funds,” said Scott Hanson, Director of Policy & Global Engagement at IFAC. “The projects launched on Friday—created through local and global partnerships—will empower resilient public health sector systems, and high-quality information the governments and people of Ghana and Burkina Faso can use to make data-informed decisions. They will help build national accountancy professions that can fully support the needs of Ghana and Burkina Faso. We look forward to expanding these programs with the support of Gavi, the Global Fund, and now USAID.”

“The Global Fund is a major contributor toward the achievement of the health-related Sustainable Development Goal 3 and is acutely aware that a resilient and sustainable system for health (including a robust public financial management) underpin the realization of the SDG-3 goals and will continue to leverage the collective strength of our partnership to build the capacity and the capabilities of professional accountancy organizations”, said Alexander Birikorang, Head of Grant Financial Management at the Global Fund.

“Sound financial management is key to ensuring Gavi’s programs are able to improve the lives of as many people as possible,” said Assietou Diouf, Managing Director, Finance & Operations at Gavi, the Vaccine Alliance. “These pilot projects in Ghana and Burkina Faso are intended to boost transparency and build local skills and capacity at the local level. However, beyond that, we also expect them to contribute to a framework for better accounting practices that could one day benefit all Gavi-supported countries.”

Friday’s formal launch event brought together key stakeholders from both countries, including the Controller and Accountant General of the Republic of Ghana and representatives from Burkina Faso, including the Ambassador of Burkina Faso. The event followed two weeks of intensive meetings in Accra and Ouagadougou to coordinate broad support and ensure success.

The launch event also included an opportunity for the IFAC, the local accountancy organizations, and donor agencies to meet, including USAID, which recently joined the efforts to build capacity and support in-country financial management. The discussions considered next steps for the projects in Ghana and Burkina Faso and the future of the partnership.

About IFAC
IFAC is the global organization for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. IFAC is comprised of 180 members and associates in 135 jurisdictions, representing more than 3 million accountants in public practice, education, government service, industry, and commerce.

About the Global Fund
The Global Fund is a worldwide partnership to defeat HIV, TB and malaria and ensure a healthier, safer, more equitable future for all. We raise and invest more than US$4 billion a year to fight the deadliest infectious diseases, challenge the injustice which fuels them and strengthen health systems in more than 100 of the hardest hit countries. Since the beginning of the COVID-19 pandemic, we have invested an additional US$4.3 billion to fight the new pandemic and reinforce systems for health. We unite world leaders, communities, civil society, health workers and the private sector to find solutions that have the most impact, and we take them to scale worldwide. Since 2002, the Global Fund partnership has saved 50 million lives.

About Gavi, the Vaccine Alliance
Gavi, the Vaccine Alliance is a public-private partnership that helps vaccinate half the world’s children against some of the world’s deadliest diseases. Since its inception in 2000, Gavi has helped to immunise a whole generation – over 981 million children – and prevented more than 15 million future deaths, helping to halve child mortality in 73 lower-income countries. Gavi also plays a key role in improving global health security by supporting health systems as well as funding global stockpiles for Ebola, cholera, meningococcal and yellow fever vaccines. After two decades of progress, Gavi is now focused on protecting the next generation, above all the zero-dose children who have not received even a single vaccine shot. The Vaccine Alliance employs innovative finance and the latest technology – from drones to biometrics – to save millions more lives, prevent outbreaks before they can spread and help countries on the road to self-sufficiency. Learn more at www.gavi.org and connect with us on Facebook and Twitter.

Gavi is a co-convener of COVAX, the vaccines pillar of the Access to COVID-19 Tools (ACT) Accelerator, together with the Coalition for Epidemic Preparedness Innovations (CEPI), the World Health Organization (WHO) and UNICEF. In its role, Gavi is focused on procurement and delivery for COVAX: coordinating the design, implementation and administration of the COVAX Facility and the Gavi COVAX AMC and working with its Alliance partners, UNICEF and WHO, along with governments, on country readiness and delivery.

The Vaccine Alliance brings together developing country and donor governments, the World Health Organization, UNICEF, the World Bank, the vaccine industry, technical agencies, civil society, the Bill & Melinda Gates Foundation and other private sector partners. View the full list of donor governments and other leading organisations that fund Gavi’s work here.

The Fast Future With IFAC is a conversational podcast series about small- and medium-sized practicies (SMPs) adapting to the rapidly changing global economy.

Episode Five features a conversation with Amy Bridges, Professional Development Manager at CPA.com. She offers an expert view of the market for client advisory services (CAS) and a wide range of opportunities and challenges for SMPs, including:

• Technology solutions
• Specialization
• Staff retention and upskilling
• Communication and relationship-building with clients

Click below or visit IFAC's iTunes podcast channel to listen to this episode. Be sure to subscribe to catch our next conversation with an innovative practitioner, coming soon.

(Back to the Fast Future With IFAC homepage.)

Taxpayers’ attitudes about paying taxes correlate closely with perceived levels of corruption, according to a major new study, Public Trust in Tax, by accountancy bodies ACCA and the International Federation of Accountants (IFAC). A survey of 5,900 people across 14 countries – many in developing economies – found that trust in tax systems is lower when taxpayers perceive higher levels of corruption and diversion of public funds.

Helen Brand, chief executive ACCA, says: ‘Fighting corruption is such a central priority for the global accountancy profession because corruption has such negative implications for trust, tax morale and sustainable development more broadly. We know from research by the IMF that economic growth goes hand in hand with a consistent stream of tax revenues.’

This year’s survey builds on previous research, and for the first time includes data from developing countries outside of the G20. With the UN predicting that the highest population growth up to 2050 is set to happen in non-G20 countries, this edition of Public Trust in Tax looks at issues impacting an increasing share of the global population. The survey was backed up by a series of roundtables to explore attitudes further.

Kevin Dancey, chief executive IFAC, says: ‘The relationship between taxpayers and governments, and between businesses, society and tax systems is fundamental to the sustainability – and survival – of the economies that support us all, in both the short and long term. Our Trust in Tax surveys provide crucial insight into these relationships and can help global policymakers as they consider the best way forward.’

IFAC recently released its Action Plan for Fighting Corruption and Economic Crime, with broad support from the global accountancy profession. The plan outlines specific actions that members of the profession can take, individually and in concert, to engage in a meaningful way in the fight against corruption. ‘Given the correlation between perceived levels of corruption and citizens’ willingness to pay taxes, this plan is an important effort to help ensure that citizens see the benefits of their tax dollars,’ said Mr. Dancey.

Key results
The survey key findings are set out below:

Trust and corruption
Politicians are widely distrusted with a net trust deficit of -25%. In contrast professional tax accountants and lawyers are trusted (67.1% and 64.6% respectively). Attitudes to tax authorities are split with a significant minority – 27.9% – distrusting or highly distrusting them.

Roundtable participants saw lack of trust in politicians as a major barrier to tax engagement with the systems. Citizens don’t object to paying tax - they object to misappropriation.

Tax minimisation
In the survey 46.4% agreed that multinationals were paying a reasonable amount of tax. This contrasts with Public Trust in Tax surveys in G20 countries showing only 22.4% agreed.

Attitudes towards tax minimisation are more relaxed in developing countries with respondents more likely to agree that specific taxpayer groups were paying a reasonable amount of tax.

Incentives
People strongly support the use of tax incentives to target megatrends such as climate change (73.8%) and ageing population (72.8%).

Tax incentives were seen as way of attracting multinational businesses to invest (73.9%) and build a more coherent international tax system through co-operation between countries (69.3%)

Author of the report Jason Piper says: ‘An efficient, effective and trusted tax administration is one building block in the sound structure of society. This survey shows that the problem lies not with the collecting of tax but what happens afterward. A lack of accountability in government spending fosters the perception – and all too often the reality – of corruption in government.’

Since 2017 ACCA and IFAC have been gathering data across the G20 on attitudes and opinions of the general public. The latest survey is the first to look beyond the G20 and comes at a crucial time for economies across the globe, given uncertainty following Russia’s invasion of Ukraine and the Covid-19 pandemic.

Read Public Trust in Tax: Global Perspectives 2022 

For media enquiries, contact:
ACCA News Room
E: newsroom@accaglobal.com
Twitter: @ACCANews
accaglobal.com

IFAC
Jennifer DiClerico
Director, Head of Communications
E: jenniferdiclerico@ifac.org
Twitter: @IFAC
ifac.org

About ACCA
ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants.

We’re a thriving global community of 240,000 members and 541,000 future members based in 178 countries and regions, who work across a wide range of sectors and industries. We uphold the highest professional and ethical values.

We offer everyone everywhere the opportunity to experience a rewarding career in accountancy, finance and management. Our qualifications and learning opportunities develop strategic business leaders, forward-thinking professionals with the financial, business and digital expertise essential for the creation of sustainable organisations and flourishing societies.

Since 1904, being a force for public good has been embedded in our purpose. In December 2020, we made commitments to the UN Sustainable Development Goals which we are measuring and will report on in our annual integrated report.

We believe that accountancy is a cornerstone profession of society and is vital helping economies, organisations and individuals to grow and prosper. It does this by creating robust trusted financial and business management, combating corruption, ensuring organisations are managed ethically, driving sustainability, and providing rewarding career opportunities.

And through our cutting-edge research, we lead the profession by answering today’s questions and preparing for the future. We’re a not-for-profit organisation. Find out more at accaglobal.com

About IFAC
IFAC is the global organization for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. IFAC is comprised of 180 members and associates in 135 jurisdictions, representing more than 3 million accountants in public practice, education, government service, industry, and commerce.

Join Accountancy Europe, the Association of Chartered Certified Accountants (ACCA), SMEunited and IFAC for The impact of bribery and corruption on SMEs, under the auspices of the Czech Presidency of the European Union.

Corruption and bribery are not limited to multinationals engaging with high levels of government. Small and medium-sized enterprises (SMEs), which are part of almost every supply chain, also face those problems.

IFAC welcomes the opportunity to respond to IPSASB’s Consultation Paper on Advancing Public Sector Sustainability Reporting. As the global voice of the accountancy profession, IFAC represents over 180 professional accountancy organizations in 135 jurisdictions, thereby representing more than three million professional accountants worldwide.

Since 2017, IFAC and ACCA have gathered data across the G20 on the attitudes and opinions of the general public towards their tax systems, and the actors involved in them. Reflecting the views of over 5,600 people across 14 countries, this survey—the first that looks beyond the world's largest economies—provides an insight into whom they trust and what concerns them, backed up by expert opinion from professionals, academics and tax authority officials.

Today, the International Federation of Accountants (IFAC) issued its action plan to enhance the accountancy profession's contribution to, and support of, a robust anti-corruption ecosystem encompassing a diverse array of participants and policies. The Action Plan for Fighting Corruption and Economic Crime sets out more than 30 specific actions for IFAC and the accountancy profession related to education, evidence-based policy, global standards, partnership, and thought leadership.

“Corruption and related economic crimes, such as money laundering, bribery, tax evasion and fraud, are significant obstacles to economic growth and human development and, ultimately, to achieving the UN Sustainable Development Goals—all seventeen of them,” said IFAC CEO Kevin Dancey. “Our Action Plan illustrates some time tested and some new ways that make it clear that the global accountancy profession is a central ally in the fight. We look forward to working with our member organizations and other partners to make a real difference and drive positive change.”

The Action Plan embodies an enhanced commitment by the accountancy profession to fighting corruption, as well as economic crime more broadly. It harnesses the profession’s reach across public practice, business, and the public sector to both contribute directly to the fight against corruption and indirectly by supporting integrity and transparency in business and government, as well as effective global and domestic policymaking.

The Action Plan was developed with extensive engagement across IFAC’s 180 member organizations, as well as our advisory groups, network partners, and other key global organizations. Taking inspiration from the International Bar Association’s (IBA) Anti-Corruption Strategy for the Legal Profession, the Action Plan was developed in close coordination with the IBA, with whom we will continue to coordinate to help bring increased energy to this important work.

About IFAC
IFAC is the global organization for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. IFAC is comprised of 180 members and associates in 135 jurisdictions, representing more than 3 million accountants in public practice, education, government service, industry, and commerce.

• 65 organizations today endorse a joint statement calling for stronger alignment of regulatory and standard-setting efforts around sustainability disclosure. 
• They encourage major actors, including the International Sustainability Standards Board (ISSB), the US Securities Exchange Commission (SEC) and the European Financial Reporting Advisory Group (EFRAG) to continue to work closely together.  
• Capital market participants are supportive of establishing a global baseline of sustainability disclosure requirements, on top of which local jurisdictions can add their own interoperable reporting requirements. 
• Find the full text of the endorsed statement here.

Sixty-five companies, investors and professional accounting firms from across the world add their voices to the call for major standard-setting efforts to more closely align with and support a global baseline for reporting sustainability-related information.

The endorsed statement was developed jointly by the World Business Council for Sustainable Development (WBCSD), the Principles for Responsible Investment (PRI), and the International Federation of Accountants (IFAC). In addition to formal consultation responses, this public statement makes clear the momentum and encouragement behind stronger alignment between sustainability standard-setting efforts.

Significant efforts by the International Sustainability Standards Board (ISSB), the US Securities and Exchange Commission (SEC), and the European Commission together with the European Financial Reporting Advisory Group (EFRAG), all aim to address the need to enhance and evolve corporate reporting to include and consider sustainability information. However, current draft standards and initiatives are not technically compatible in terms of concepts, terminologies, and metrics.

As these proposed sustainability-related disclosure requirements are refined and finalized, leading financial market participants are asking financial market regulators to avoid regulatory and standard setting fragmentation by aligning on key concepts, terminologies, and metrics on which disclosure requirements are built.

A comprehensive global baseline of sustainability disclosures is required for reporting entities to avoid undue burden and for investors to make investment decisions that truly contribute to sustainable outcomes.

A globally consistent, comparable, reliable, and assurable corporate reporting system is indispensable in providing all stakeholders with a clear and accurate picture of an organization’s ability to create sustainable value over time.

The endorsed statement released today is signed by:  

• Achmea Investment Management
• ADM
• Arçelik Global
• Assicurazioni Generali
• Ayala Corporation
• Baloise Asset Management
• BCSD Taiwan X Taiwan Sustainable Finance Platform
• BDO
• Beach Point Capital Management
• Borealis Group
• Boston Trust Walden
• Brunel Pension Partnership
• Bühler Group                                                                                                    
• Calvert Research and Management
• CentraRSE
• Dalton Investments
• Dana Investment Advisors
• DBS Group
• de Pury Pictet Terrettini
• Deloitte
• Desjardins Global Asset Management
• DNV
• East Capital Group
• Ecofi
• EFG Asset Management
• EmergeVest
• Empresas CMPC S.A.
• ENI S.p.A.
• Equitile Investments
• Ernst & Young Global Limited
• Etica Funds – Responsible Investments
• Future Super
• GAM Investments
• Grant Thornton International, Ltd.
• Hewlett Packard Enterprise
• HÖ Sabanci Holding
• Holcim Ltd
• Honda Motor Co., Ltd.
• Ingka Group
• Investment Management Corporation of Ontario
• Kieger
• KPMG International
• Lyrical Asset Management
• Mercedes-Benz Group AG
• Nestlé
• Newton Investment Management
• Northern Ireland Local Government Officers’ Superannuation Committeee
• Octagon Credit Investors
• Öhman Fonder
• Olam Food Ingredients
• Pegaso Pension Fund
• Perennial Investment Management
• PKA
• PwC
• Rathbones Group
• Resona Asset Management
• Responsible Investment Association Australia
• Royal DSM
• SABIC
• SCG
• Shell plc
• STAR Capital Partnership
• Swisscanto by Zürcher Kantonalbank
• Tareno AG
• Webster Equity Partners
• Wespath Benefits and Investments

Find the full text of the endorsed statement here and a PDF version of the statement here.

About IFAC
IFAC is the global organization for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. IFAC is comprised of 180 members and associates in 135 jurisdictions, representing more than 3 million accountants in public practice, education, government service, industry, and commerce.

About PRI
The Principles for Responsible Investment (PRI) is the world’s leading proponent of responsible investment. Supported by the United Nations, it works to understand the investment implications of environmental, social and governance (ESG) factors and to support its international network of investor signatories in incorporating these factors into their investment and ownership decisions. The PRI acts in the long-term interests of its signatories, of the financial markets and economies in which they operate and ultimately of the environment and society as a whole. Launched in New York in 2006, the PRI has grown to more than 5,000 signatories, managing over US$121 trillion. For more information visit www.unpri.org

About the World Business Council for Sustainable Development (WBCSD)  
WBCSD is the premier global, CEO-led community of over 200 of the world’s leading sustainable businesses working collectively to accelerate the system transformations needed for a net zero, nature positive, and more equitable future. We do this by engaging executives and sustainability leaders from business and elsewhere to share practical insights on the obstacles and opportunities we currently face in tackling the integrated climate, nature and inequality sustainability challenge; by co-developing “how-to” CEO-guides from these insights; by providing science-based target guidance including standards and protocols; and by developing tools and platforms to help leading businesses in sustainability drive integrated actions to tackle climate, nature and inequality challenges across sectors and geographical regions. 

Our member companies come from all business sectors and all major economies, representing a combined revenue of more than USD $8.5 trillion and 19 million employees. Our global network of almost 70 national business councils gives our members unparalleled reach across the globe. Since 1995, WBCSD has been uniquely positioned to work with member companies along and across value chains to deliver impactful business solutions to the most challenging sustainability issues.

Together, we are the leading voice of business for sustainability, united by our vision of a world in which 9+ billion people are living well, within planetary boundaries, by mid-century. 

www.wbcsd.org 

Follow us on Twitter and LinkedIn  

IFAC's Action Plan for Fighting Corruption and Economic Crime (Action Plan) provides a framework for how we can enhance the accountancy profession’s role in combating corruption and economic crimes, thereby advancing the UN SDGs. The framework is organized into five overarching pillars and includes over thirty actions, that are meant to evolve over time.