Ms. Gabriela Figueiredo Dias will become the first Chairwoman of the IESBA from January 1, 2022. Ms. Figueiredo Dias will succeed Dr. Stavros Thomadakis, who has led the IESBA since 2015.

Ms. Figueiredo Dias has extensive experience in international standard setting, legal and regulatory structure and governance, and academia. She currently serves as the President of the CMVM (Portuguese Securities Market Commission), the authority responsible for regulating and supervising the markets of financial instruments, covering listed companies, asset managers, auditors and investment firms. There, she provides strategic direction to the Board, manages the organization and represents it before International Organizations such as IOSCO and OECD, the European Commission and the European Securities and Markets Authority (ESMA), as well as the Portuguese Government, the National Council of Financial Supervisors and market stakeholders. She has also served as head of the international and regulatory policy department and of the issuers and financial information department at CMVM and has extensive experience in and understanding of financial regulatory frameworks. In addition, she has served as a member of the ESMA Board and Management Board, member of the IOSCO Board, Vice-Chair of the OECD Corporate Governance Committee, Chair of the ESMA Investment Management Standing Committee, and she will remain in office as non-executive President of the General Board of the University of Coimbra in Portugal. She holds a master’s degree in law from the Coimbra University Law School.

“I am honored to be selected as the next IESBA Chair during this critical time of transition for the Board and the profession,” said Ms. Figueiredo Dias. “As President of the Portuguese Securities Commission, I have advocated for strong international standards, based on robust ethical principles and developed with the public interest in mind. The IESBA’s work in setting high-quality, internationally appropriate ethics standards for auditors, including in respect to their independence, and other professional accountants in business, the public sector and public practice is critical to the integrity and robustness of the global financial system and architecture, and I look forward to leading the IESBA in playing an impactful role toward a more sustainable global economy and society.”

“Having experienced firsthand the demands of this role, I am confident Gabriela’s knowledge of the field and unwavering commitment to enhancing ethics on behalf of the public interest will be invaluable assets to the IESBA,” said Stavros Thomadakis, IESBA Chairman. “I look forward to Gabriela’s service to the IESBA and believe she will be a strong and assiduous proponent of the Board’s collective vision.”

Ms. Figueiredo Dias’ appointment was recommended by the Interim Nominating Committee after an independent and extensive global search. Her appointment was endorsed by the IFAC Board and approved by the Public Interest Oversight Board, which oversees the IESBA.

"I’m pleased to convey that the Interim Nominating Committee recommended Ms. Figueiredo Dias via a very competitive process," said Makoto Sonoda, Interim Nominating Committee Chair. "The Committee has full confidence in Ms. Figueiredo Dias who will bring her extraordinary experience, a clear vision, and a vast network to the IESBA, all of which will contribute to the Board’s public interest mandate and mission of strengthening ethics standards globally.”

About the IESBA

The International Ethics Standards Board for Accountants (IESBA) is an independent global standard-setting board. The IESBA’s mission is to serve the public interest by setting ethics standards, including auditor independence requirements, which seek to raise the bar for ethical conduct and practice for all professional accountants through a robust, globally operable International Code of Ethics for Professional Accountants (including International Independence Standards) (The Code).

About the Interim Nominating Committee

Chaired by Mr. Makoto Sonoda, Chair of the Committee on Issuer Accounting, Audit and Disclosure (Committee 1) of the International Organization of Securities Commissions (IOSCO) and Director for International Accounting and Director for International Capital Market Regulation of the Financial Services Agency (FSA), the Interim Nominating Committee was formed by the Monitoring Group to conduct an independent global search for the new IESBA Chair.

The first digital native generation entering the workforce is being shaped by the unique world catastrophes they’ve lived through in their young lives, finds a global report from ACCA (the Association of Chartered Certified Accountants) and IFAC (the International Federation of Accountants).

The views of 9,000 18 to 25-year-olds are published in Groundbreakers: Gen Z and the future of accountancy and reveal their primary concerns are around job security, well-being and mental health, offering a wakeup call to employers who need to show they care.

While survey respondents are broadly convinced that businesses have a positive impact on wider society (69%), they think there is significant room for improvement from business leaders. They see accountancy as an attractive career – providing long term prospects and portability with access to jobs that span internationally and across industries – but it’s also clear this generation questions business’ integrity.

They believe businesses continue to prioritize the maximization of returns to investors (66%) over taking care of customers (53%) and employees (47%). They are also less convinced that business leaders have integrity and do what they say (41%) and fewer of them believe businesses are currently pulling their weight in fighting climate change (39%).

ACCA and IFAC say the findings of this global research are very relevant for employers regardless of the sector, and that meeting this generation’s needs and addressing their concerns will be essential to thrive. For the accountancy profession specifically, its central purpose to create sustainable value for organizations while acting in the public interest places it in a unique position to harness this opportunity.

“This 18 – 25-year-old age group of Gen Z is smart, connected, ambitious yet realistic – but they have concerns about the future and how business operates,” said Helen Brand, chief executive of ACCA. “What we see from this research is young people at the outset of their accountancy careers keen to play their part in economic renewal. They’ll bring their talents and aspirations into the workplace and, through them, transform the future of accountancy for the modern world. Employers of all sizes need to be aware of this generation’s hopes and ambitions and the value they can bring.”

“Shaped by economic crises, the current climate emergency, and most recently the global pandemic, Generation Z is coming of age during a very difficult and challenging period in global history,” said Kevin Dancey, chief executive officer of IFAC. “Leaders of Professional Accountancy Organizations (PAOs), global network firms, and industry, not only have an opportunity to welcome this new generation of accountancy leaders into our organizations, but to actively learn from them. Although no one knows exactly what the future may hold, one thing is for certain: Generation Z accountancy professionals have a critical role to play in our future.”

Groundbreakers: Gen Z and the future of accountancy offers employers 10 ways to harness the potential of Gen Z:

1. Tap into Gen Z’s digital mastery: Astute enterprises are seeing Gen Z as fantastic ambassadors and early adopters to encourage the rest of the business to digitally transform.
2. Think “intrapreneurship”: Create a culture where young people can bring their entrepreneurial thinking and capabilities to fruition within the relative safety of an organization.
3. Use social to recruit and recognize the power of peers: Beyond social media, activities such as using Gen Z ‘brand ambassadors’ who are authentic and believable on university campuses to encourage peers to be interested in organizations can pay dividends.
4. Be authentic and listen to Gen Z: Gen Z values authenticity and sees it as a key factor in making initial decisions about joining an organization.
5. Focus on well-being: Gen Z is concerned about their well-being, so employers need to support this.
6. Align organization purpose with individual development needs: Organizations need to articulate what they stand for, their purpose and impact on wider society. Gen Z is keen to understand how the organization makes a difference and what their contribution could be to the vision of the enterprise.
7. Create collaboration opportunities across the workforce: To help Gen Z progress, make them part of the bigger picture.
8. Reward on outcomes not inputs: Employers need to focus on outcomes and the results achieved, rather than hours spent on a task.
9. Give continual feedback: Create a culture of continual feedback and acknowledgement -this is essential in engaging Gen Z as they’ve grown up in a world of instant communication and rating opportunities through digital.
10. Rethink learning: Make it short and visual to encourage Gen Z’s learning.

The full report can be downloaded here.

The Western Balkan professional accountancy organizations (PAOs)—a group of PAOs comprising both IFAC members and non-members—have expressed interest in furthering their regional cooperation in the area of accountancy education and professional development in order to accelerate the development of the accountancy profession in the region.

Both IFAC and the World Bank Centre for Financial Reporting Reform (CFRR) have been working with the PAOs through their respective programming. In April 2018, the two organizations joined together to host a joint one-day Education Community of Practice workshop. Over 60 participants, including the leadership of PAOs from all over Europe, international experts, and members of IFAC’s Compliance Advisory Panel and PAO Development Committee participated in the event.

The workshop hosted panel sessions and open discussions where participants exchanged experiences, best practice examples, and the vision for the future.  

IFAC staff presented its recent International Standards: 2017 Global Status Report and the opportunities and challenges that lie ahead for the accountancy profession at both a global level and for the Western Balkan region in particular. The report also highlights available resources, guidance, examples of best practice, and observations, including the need for multi-stakeholder collaboration and support from national, regional and global organizations to maintain the progress made thus far in the adoption and implementation of international standards.

Further details and materials from the workshop are available on the CFRR’s website.

Highlights from the IESBA's December 4 - 8, 2017 meeting in Livingstone, Zambia.

• 00:13 - Introduction: Ken Siong, IESBA Technical Director
• 00:50 - Highlights & Key Developments: Stavros Thomadakis, IESBA Chairman
• 03:07 - Part C of the IESBA Code: Helene Agelii, IESBA Member 
• 05:04 - Professional Skepticism – Richard Fleck, IESBA Deputy Chair 
• 08:08 - Safeguards: Gary Hannaford, IESBA Member 
• 12:11 - Structure of the IESBA Code, Don Thomson, Task Force Chair and former IESBA Member 
• 14:26 - Closing Remarks: Ken Siong, IESBA Technical Director

Leaders from the public sector and professional accountancy organizations from throughout the Caribbean met Nassau April 12-14, 2016, to revitalize efforts to improve public sector financial management and support the region’s economic growth.

Hosted by the Institute of Chartered Accountants of the Caribbean (ICAC), the International Federation of Accountants (IFAC), and the World Bank, Strengthening Public Financial Reporting and Accountability explored the Caribbean social-economic situation and how better public financial management, especially improved financial accounting and reporting, can support sustainable development.

International and regional experts shared their experiences of overcoming challenge and realizing the benefits of public sector financial management reform. Forward-looking sessions discussed how stakeholders can make public financial accounting and reporting reform a success. The roundtable concluded by summarizing the actions that governments and stakeholders can take toward strengthening public financial reporting and accountability.

This invitation-only event covered regional economic, social, and business imperatives; public financial reporting reforms (regional and international perspectives); engaging stakeholders; challenges of the accountancy profession in the Caribbean and capacity-building strategies; and technical training on latest developments in International Public Sector Accounting Standards.

The event opened on Tuesday 12th April by the The Hon. Michael Halkitis, MP, Minister of State for Finance, Government of The Bahamas.

For more information, please contact Jasmine Davis, ICAC President, president@icacorg.com, Misha Lobban Clarke, ICAC CEO, ceo@icacorg.com or Vincent Tophoff, Senior Technical Manager, Accountability. Now.

Las dos publicaciones están diseñadas para apoyar a las Organizaciones Profesionales de Contabilidad (PAOs) en la ampliación y fortalecimiento de su papel y establece las responsabilidades en la representación de la profesión contable. Establecimiento y Desarrollo de una Organización Profesional de Contabilidad cubre las funciones y responsabilidades de una PAO, educación y exámenes y el desarrollo de capacidades. Recursos y Herramientas de Apoyo para el Desarrollo de la Profesión Contable incluye estudios de casos, ejemplos prácticos y orientación complementaria.