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.
Establishing and Developing a Professional Accountancy Body
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.
The 3rd Africa Congress of Accountants (ACOA), held by the Pan African Federation of Accountants (PAFA) and the Mauritius Institute of Professional Accountants (MIPA), will be held May 12-14, 2015 in Mauritius. Rising Africa: Partnering for Results will include sessions on partnerships between the public and private sectors, professional accountancy organization development, women and accountancy, and public sector accountancy, among other topics. Full details are available on the ACOA website.
High-quality business reporting provided by a robust and well-functioning accountancy profession composed of competent and capable accounting professionals contributes significantly to a sound global financial structure. Professional accountancy organizations (PAOs) are essential for the sustainability of the accountancy profession. They hold the power to advance society, further national economic growth, and enhance development assistance.
The UK Department for International Development (DFID), which leads the United Kingdom’s work to end extreme poverty, and IFAC, the global organization for the accountancy profession, have entered into an agreement to strengthen professional accountancy organizations (PAOs) in developing countries. Under this agreement, DFID will provide £4.935 million to IFAC over seven years. The funding will be used to strengthen PAOs in at least 10 DFID focal countries to play a greater role in furthering economic development. These focal countries are currently being selected by IFAC, in consultation with its regional organizations and DFID.
On September 30, 2014, IFAC invited organizations to indicate their interest in providing PAO capacity-building services under this agreement. IFAC will facilitate, coordinate, and supervise projects, including peer-to-peer support by more established PAOs, to build developing country PAOs’ managerial, financial, and technical capacity so that they are able to drive improvements in professional and ethical standards. Expressions of Interest can be submitted online prior to November 19, 2014. (Please note, the deadline for submitting an Expression of Interest has passed; there will be an additional Call in 2015.)
On October 17, 2014, IFAC held a webinar to answer questions regarding and clarify instructions for the Expressions of Interest to partner with IFAC to build the capacity of PAOs. An overview of the capacity-building program was also provided.
The UK Department for International Development (DFID), which leads the United Kingdom’s work to end extreme poverty, and the International Federation of Accountants® (IFAC®), the global organization for the accountancy profession, have entered into an agreement to strengthen professional accountancy organizations (PAOs) in developing countries. Under this agreement, DFID will provide £4.935 million to IFAC over seven years. The funding will be used to strengthen PAOs in at least 10 DFID focal countries to play a greater role in furthering economic development. These focal countries are currently being selected by IFAC, in consultation with its regional organizations and DFID.
IFAC invites organizations to indicate their interest in providing PAO capacity-building services under this agreement. IFAC will facilitate, coordinate, and supervise projects, including peer-to-peer support by more established PAOs, to build developing country PAOs’ managerial, financial, and technical capacity so that they can drive improvements in professional and ethical standards.
Expressions of Interest can be submitted via www.surveygizmo.com/s3/1735005/Expression-of-Interest. Interested organizations should be able to demonstrate that they have the required qualifications and relevant experience to perform the capacity-building services. Based on information in the Expressions of Interest, IFAC will evaluate interested organizations and—in the future—invite eligible organizations to submit proposals to provide services for specific projects. Further information is available by emailing development@ifac.org.
Timetable and Deadlines for Expressions of Interest
October 17, 2014, 8:30 am (New York time) – Webinar for applicants to clarify any matters. Please email development@ifac.org to receive instructions for participation.
November 19, 2014 – Deadline for submissions of interest.
First Quarter 2015 –Organizations will be invited to submit full proposals.
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. It is comprised of 179 members and associates in 130 countries and jurisdictions, representing approximately 2.5 million accountants in public practice, education, government service, industry, and commerce.
About DFID The Department for International Development (DFID) leads the UK’s work to end extreme poverty. We're ending the need for aid by creating jobs, unlocking the potential of girls and women and helping to save lives when humanitarian emergencies hit. For more information visit www.gov.uk/dfid.
