The International Federation of Accountants^® (IFAC^®), the global organization for the accountancy profession with members and associates in 130 countries, recently joined a multi-disciplinary group at the CESifo Institute in Munich, Germany, to share past lessons of over-borrowing and default, and analyze present weaknesses in sovereign debt management. The discussion was timely in light of Greece’s debt crisis.

The participants―accountants, economists, finance specialists, lawyers, statisticians, and representatives of academia, business, governments, international organizations, and think tanks—held varied views on how to resolve Greece’s debt crisis.

IFAC supports the argument that Greece must build trust and confidence with all stakeholders by making transparency and accountability its most urgent and important reform. Whether the issue is political, economic, or social—accounting matters, and starting with the right numbers is essential to assessing the economic and financial consequences of alternative solutions. Thus, a fresh start for Greece should begin with government financial information based on accrual-based International Public Sector Accounting Standards^™.

To support greater awareness of the need for higher quality government financial reporting, IFAC has convened the broad-based Accountability. Now. coalition. Coalition member organizations believe there is a better way forward for governments of all sizes and it starts with equipping governments with the foundation for good financial management: transparent, accountable financial information.

About Accountability. Now.
Accountability. Now. represents a coalition of organizations that believe there’s a better way forward for governments of all sizes. It starts with equipping governments with the foundation for good financial management: transparent, accountable financial information that: captures the entire picture of funding commitments, now and in the future; facilitates wise spending; strengthens economies; and builds trust with their citizens. Better quality financial information and increased transparency won’t solve all the challenges of governing, but they will greatly assist government decision making and performance.

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 more than 175 members and associates in 130 countries and jurisdictions, representing approximately 2.8 million accountants in public practice, education, government service, industry, and commerce.

The Integrated Reporting Working Group of the International Auditing and Assurance Standards Board^® (IAASB^®) has released a publication, Exploring Assurance on Integrated Reporting and Other Emerging Developments in External Reporting, to inform stakeholders about the board’s ongoing work in this area.

The publication’s release coincides with the issuance of the International Integrated Reporting Council (IIRC)’s Overview of Feedback and Call for Action. The IAASB commends the IIRC for furthering the debate on assurance on integrated reporting, and has been actively engaged with the IIRC in events supporting its 2014 consultation.

“The IAASB is committed to ensuring that its standards address the stakeholders’ emerging needs for assurance services and has been monitoring demand for assurance on integrated reporting for some time,” said Prof. Arnold Schilder, IAASB Chairman. “The IIRC’s work to develop its International <IR> Framework and the feedback from its public consultation is invaluable to the IAASB as it continues to consider how best to respond in the public interest to integrated reporting and other emerging developments in external reporting.”

The IAASB’s Integrated Reporting Working Group was initially formed to monitor the demand for assurance engagements on integrated reporting. The focus of the Working Group includes initial thinking on the nature of such engagements, the scope of the subject matter information and the suitability of criteria, and other matters related to assurance, including the IAASB’s existing assurance standards.

“The IAASB has an open mind as to the way forward and recognizes that other emerging developments in external reporting are equally relevant to its considerations,” said Merran Kelsall, IAASB member and Integrated Reporting Working Group Chair. “The Working Group will continue to engage with stakeholders and facilitate the IAASB’s debates to inform the development of a Discussion Paper exploring assurance issues in greater depth, including how practitioners are innovating to meet the needs of investors and other preparers and users of external reporting.”

For more information and updates on the project, visit the IAASB’s project page at www.iaasb.org/auditing-assurance/projects/integrated-reporting-working-group

About the IAASB
The IAASB develops auditing and assurance standards and guidance for use by all professional accountants under a shared standard-setting process involving the Public Interest Oversight Board, which oversees the activities of the IAASB, and the IAASB Consultative Advisory Group, which provides public interest input into the development of the standards and guidance. The structures and processes that support the operations of the IAASB are facilitated by the International Federation of Accountants (IFAC).

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 over 175 members and associates in 130 countries and jurisdictions, representing approximately 2.8 million accountants in public practice, education, government service, industry, and commerce.

The International Auditing and Assurance Standards Board^® (IAASB^®) today released its revised International Standard on Auditing™ (ISA™), Addressing Disclosures in the Audit of Financial Statements. The revisions to the standards aim to focus auditors more explicitly on disclosures throughout the audit process and drive consistency in auditor behavior in applying the requirements of the ISAs.

As a complement to these revisions, IAASB staff has also developed a publication, Addressing Disclosures in the Audit of Financial Statements, for auditors that describes financial reporting disclosure trends and their possible implications from an audit perspective and highlights how the ISAs as revised guide the auditor in addressing disclosures. This publication is intended to help the consistent, effective, and proper application of the ISAs when addressing disclosures as part of an audit of financial statements, and may be particularly relevant to small and medium practices implementing the changes to the ISAs.

“Understandable and relevant disclosures are essential to users of financial statements, and the focus has shifted to providing more qualitative information in the disclosures,” noted Prof. Arnold Schilder, IAASB Chairman. “Increased auditor attention to disclosures is therefore in the public interest. We will continue to collaborate and coordinate with the accounting standards setters as they consider how to best improve financial statement disclosures and make them more effective.”

“Addressing the information included in disclosures is an integral part of the audit, regardless of the financial reporting framework under which the financial statements have been prepared,” explained Kathleen Healy, IAASB Technical Director. “The IAASB firmly believes these changes to the ISAs will enhance audit quality and are capable of being applied proportionately in audits of entities of all sizes, and in all jurisdictions and sectors.”

A staff-prepared Basis for Conclusions, which explains the IAASB’s rationale for its decisions, and an At a Glance document, which explains the main changes to the ISAs, are also now available.

The revisions to the standards encompass changes to 10 ISAs and conforming amendments to five other ISAs. They will be effective for audits of financial statements for periods ending on or after December 15, 2016, in line with the effective date for the new and revised Auditor Reporting standards and ISA 720 (Revised), The Auditor’s Responsibilities Relating to Other Information.

About the International Auditing and Assurance Standards Board
The IAASB develops auditing and assurance standards and guidance for use by all professional accountants under a shared standard-setting process involving the Public Interest Oversight Board, which oversees the activities of the IAASB, and the IAASB Consultative Advisory Group, which provides public interest input into the development of the standards and guidance. The structures and processes that support the operations of the IAASB are facilitated by the International Federation of Accountants (IFAC).

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 over 175 members and associates in 130 countries and jurisdictions, representing approximately 2.8 million accountants in public practice, education, government service, industry, and commerce.

The International Federation of Accountants^® (IFAC^®), the global organization for the accountancy profession with members and associates in 130 countries, today released the results of its 2015 strategy survey. The survey obtained the views of member organizations (including members, associates, affiliates, regional organizations, and accountancy groupings), Forum of Firms members, and other stakeholders to inform the development of IFAC’s Strategic Plan 2016–2018.

“The results of this survey indicate strong support for IFAC’s strategic objectives, key areas of focus, and activities,” said IFAC CEO Fayez Choudhury. “As we move forward with developing IFAC’s Strategic Plan 2016–2018, the insights provided will help us hone our comparative advantages and identify areas for new or intensified activities in response to key global trends—including big data, cybersecurity, and social issues, such as taxation policies—for the benefit of our member organizations and in the public interest.”

Key Global Trends

As the voice of the global accountancy profession, IFAC drives awareness of key trends and issues and the accountancy profession’s role in them, engages with member organizations and other stakeholders to generate discussion and debate, asserts the profession’s view, and advocates for the public interest. IFAC has identified a number of key global trends that have implications for the profession and asked survey respondents to comment on them. These trends, which will help shape IFAC’s strategy and activities going forward, include:

• increasing pace of change of information technology;
• volume and complexity of regulation;
• need for transparency and accountability in the public sector;
• shrinking tolerance for corruption;
• changing structure of education;
• changing demographics and competition for talent;
• shifts and uncertainty in economic power;
• increasing economic interconnectedness;
• desire for international harmonization and simplification of taxation rules;
• shifting focus from short-term to long-term organizational sustainability; and
• increased stress on natural resources.

Survey respondents agreed that these are key areas impacting the accountancy profession and identified additional trends, including:

• attracting and retaining talent and the impact on recruiting, training, and development;
• big data’s impact on accountancy;
• cybersecurity as an increasingly high priority and key risk;
• the impact of regulation on SMPs/SMEs; and
• the role of the profession in corporate governance, fighting corruption, and money laundering.

IFAC’s Global Comparative Advantages

There was virtually unanimous agreement among member organization respondents that IFAC’s vision remains appropriate. In addition, a significant majority of respondents agreed that IFAC is effective or highly effective in its areas of global comparative advantage—those areas in which it is uniquely positioned to spearhead initiatives because they demand a global reach, freedom from commercial interests, and the ability to create dialogue and debate. These roles include being the natural facilitator, a trusted intermediary, a credible convener, and an influential voice. In addition, a substantial majority said that IFAC’s current allocation of resources achieved an appropriate balance among the various priorities.

Activity Areas 2016–2018

The survey results showed a high level of support for all of IFAC’s current activities. All activities were rated as being “important” or “very important” by an average of 89% of respondents,  indicating that they believe these activities effectively and efficiently achieve IFAC’s vision and strategic objectives, leverage its global comparative advantages, and respond to the identified key global trends.

Respondents also weighed in on proposed activities that IFAC is considering for the future. These activities—from sharing knowledge on emerging trends affecting the profession to identifying knowledge gaps in relevant areas and forming collaborations to address them—clearly leverage IFAC’s global comparative advantages and were welcomed, with an average of 86% of respondents rating them “important” or “very important.”

The results resoundingly endorsed IFAC’s activities to speak out on behalf of the global accountancy profession, with an average of 95% of respondents saying that IFAC’s current activities in this area are “important” or “very important.” Proposed future actions in this area—including substantially intensifying efforts to promote the value of the profession and speak out on regulatory issues, intensifying collaboration with member organizations on public policy and regulation, and leveraging the IFAC brand to help promote member organizations to key national stakeholders—were also heartily endorsed, with an average of 90% calling them “important” or “very important.”

About the Survey
The IFAC Strategy Survey surveyed officers (generally presidents and chief executive officers) from IFAC’s members, associates, affiliates, regional organizations and accountancy groupings, as well as Forum of Firms members and selected other stakeholders. The survey results include data from respondents representing 85 member organizations—almost 50% of IFAC’s membership—who took the survey from March 21, 2015 to April 30, 2015. The full survey results are available on the IFAC website.

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 over 175 members and associates in 130 countries and jurisdictions, representing approximately 2.8 million accountants in public practice, education, government service, industry, and commerce.

The International Federation of Accountants^® (IFAC^®) today published in the Spanish language two additional publications of the International Auditing and Assurance Standards Board^® (IAASB^®), translated as a result of the IberAm Project:

• Staff Questions & Answers (Q&A): Professional Skepticism in an Audit of Financial Statements—translated by Instituto de Censores Jurados de Cuentas de España (ICJCE)
• International Standards on Auditing^™ (ISA^™) Module PowerPoint presentations (12 sets of slides)—translated by Asociacion Interamericana de Contabilidad (AIC)

The IAASB Staff Q&A publication re-emphasizes to auditors the importance of an attitude of professional skepticism when performing their role. It focuses on the requirements and application material in the ISAs and the IAASB’s quality control standard that are of particular relevance to the proper understanding and application of professional skepticism during an audit of financial statements. In addition, answers are provided regarding what audit firms and auditors can do to enhance awareness of the importance of professional skepticism, identify aspects of an audit where professional skepticism may be particularly important, and how professional skepticism can be evidenced.

The ISA Module PowerPoint presentations are designed to promote awareness and understanding of the ISAs. They explain the key principles of, and major changes in, individual ISAs, including the implications for audits of small- and medium-sized entities (SMEs) and would typically be useful in connection with ISA implementation or training activities. The changes to individual ISAs are a result of the IAASB’s Clarity Project, designed to enhance the overall readability and understandability of the standards.

In addition, IFAC is pleased to announce the unanimous recent decision of the IberAm Executive Committee to publish all of its official Spanish-language translations, including the handbooks of the independent standard-setting boards, on the IFAC website in the same manner as the original English-language publications. This development will greatly increase accessibility of the authorized Spanish-language translations of the international standards and other publications.

“This is a very welcome development for IFAC’s adoption and implementation objectives in Spanish-speaking countries,” said Fayez Choudhury, IFAC’s Chief Executive Officer.  “The IberAm Project has, in a relatively short time, produced great results—this has required a shared vision, a commitment to serving the public interest, and substantial resources for the benefit of the Spanish-speaking profession as a whole. We are very grateful to our member bodies—ICJCE, Federación Argentina de Consejos Profesionales de Ciencias Económicas, and Instituto Mexicano de Contadores Públicos—and to AIC, IFAC’s regional organization for Latin America and the Caribbean, for the leadership they have shown and for their ongoing valuable contributions to this important work.”

Additional Spanish translations of IFAC publications will be forthcoming. 

About the IAASB^®
The International Auditing and Assurance Standards Board (IAASB) develops auditing and assurance standards and guidance for use by all professional accountants under a shared standard-setting process involving the Public Interest Oversight Board, which oversees the activities of the IAASB, and the IAASB Consultative Advisory Group, which provides public interest input into the development of the standards and guidance. The structures and processes that support the operations of the IAASB are facilitated by IFAC.

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 over 175 members and associates in 130 countries and jurisdictions, representing approximately 2.8 million accountants in public practice, education, government service, industry, and commerce.

The International Federation of Accountants^® (IFAC^®) today published in the Spanish language a Discussion Paper developed by IFAC’s Professional Accountants in Business (PAIB) Committee, The Role and Expectations of a CFO: A Global Debate on Preparing Accountants for Finance Leadership.

This Discussion Paper was released to stimulate a global debate on preparing accountants for finance leadership. It features five principles that highlight the changing expectations, scope, and mandate of the chief financial officer (CFO) and finance leadership roles, and recommends actions professional accountancy organizations and employers can take to prepare professional accountants for career progression to finance leadership. These principles and recommended actions raise awareness of the implications for the education, training, and development of professional accountants.

The Discussion Paper is also important to the regulatory community, which strives for well-governed and managed organizations. The CFO is a critical part of a chain of actors—including the governing body, chief executive officer, audit committee, and auditor—that share responsibility for ensuring sustainable value creation, as well as relevant organizational reporting. The advantages that professional accountants’ training, expertise, and experience bring to the CFO role are not always recognized, especially professional accountants’ combination of ethical and technical mindsets with business acumen and organizational awareness.

“In these tough economic times, the ethical leadership and professional skillset of accountants in business, including financial and business acumen, are critically important to those performing in senior management finance leadership positions in organizations in every economic sector,” said Charles Tilley, Chair of the IFAC Professional Accountants in Business (PAIB) Committee. “But professional accountants in finance and accounting leadership roles aren’t universal and, in some parts of the world, their numbers are declining. So it is more important than ever for the profession to continue to develop outstanding professionals who are well equipped to work in business and government, and to take on evolving and increasingly more complex finance and accounting leadership roles.”

This Spanish translation was performed by the Federación Argentina de Consejos Profesionales de Ciencias Económicas and is a result of the Ibero-American cooperation framework, known as the IberAm project. Established in 2012, the IberAm project—which includes IFAC and its member bodies in Argentina, Mexico, and Spain—is an IFAC-authorized translation and review process that strives to achieve longer-term, sustainable processes for single, high-quality Spanish translations of international standards and other IFAC publications. The Interamerican Accounting Association, IFAC’s regional organization for Latin America and the Caribbean, is an observer to the project. In addition, the project involves a Review Committee of technical experts representing IFAC member bodies in nine Spanish-speaking countries.

About the PAIB Committee
The PAIB Committee serves IFAC member bodies and professional accountants worldwide who work in commerce, industry, financial services, education, and the public and the not-for-profit sectors. Its aim is to promote and contribute to the value of professional accountants in business by increasing awareness of the important roles professional accountants play, supporting member bodies in enhancing the competence of their members, and facilitating the communication and sharing of good practices and ideas.

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 over 175 members and associates in 130 countries and jurisdictions, representing approximately 2.8 million accountants in public practice, education, government service, industry, and commerce.

The International Federation of Accountants^® (IFAC^®), the global organization for the accountancy profession, today revised upward by 16% the membership of its member bodies following analysis of membership data from 2009 to 2013. Conducted by the independent Centre for Economics and Business Research, the analysis shows that membership of IFAC’s more than 175 members and associates in 130 countries and jurisdictions now totals 2.84 million accountants in public practice, education, government service, industry, and commerce.

This growth is a combination of new accountants joining existing IFAC member organizations and new professional accountancy organizations (PAOs) joining IFAC. Over the four-year period:

• 69% of total growth was from IFAC member organizations expanding their ranks through organic growth; and
• 31% was through additional PAOs joining IFAC.

Fayez Choudhury, IFAC CEO, said, “IFAC is honored to represent 2.84 million accountants globally. They are men and women operating throughout society to strengthen organizations and economies, bound by a code of ethics that obliges them to act in the public interest. I am especially pleased that IFAC’s representation is being driven by organic membership growth within our member bodies, as well as PAOs successfully completing the rigorous journey to IFAC membership.” 

In terms of organic growth, IFAC member organizations in advanced economies gained the most new members from 2009 to 2013. Regionally, membership of European IFAC member organizations grew the most—from 834,000 to 981,000 over the four-year period.

Since 2009, IFAC has added 21 new members and associates in almost every region of the globe. IFAC saw particularly strong growth in 2012 as a number of large PAOs became member organizations.

The study was conducted by the Centre for Economics and Business Research (Cebr), an independent economics and business research consultancy, using data supplied by IFAC member organizations. The complete report—which includes findings on the state of the global accountancy profession and the profession’s impact on the global economy—will be issued later this year.

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 more than 175 members and associates in 130 countries and jurisdictions, representing over 2.8 million accountants in public practice, education, government service, industry, and commerce.

In a speech following the G-7 Finance Ministers meeting in Dresden, US Treasury Secretary Jack Lew urged institutions—such as the International Monetary Fund, European Commission, and European Central Bank—to act, saying “there need to be some policy decisions implemented in Greece.”

The International Federation of Accountants^® (IFAC^®) agrees, but also recommends that strong—albeit sometimes difficult—policy decisions about public sector finances need to be made by international organizations and governments across the globe, and it calls on the G-7 to address these issues at its upcoming meeting. IFAC also welcomes the announcement by Greece’s Deputy Finance Minister, Dimitris Mardas, that the Greek finance ministry is moving to adopt International Public Sector Accounting Standards™ (IPSASs™). This is a small but very important step forward on the journey to full transparency and accountability.

Over recent years many countries have faced fiscal, debt, and other financial management issues, while public servants and politicians have engaged in a highly politicized war of words. However, little has been achieved to fix the fundamental problem: poor public sector financial management, transparency, and accountability.

“Improving public sector financial management and providing for better decision making requires politicians to look beyond their next term in office, and to act in the public’s—and the next generation’s—interests,” said IFAC Chief Executive Officer Fayezul Choudhury. “It is critical that policy leaders in governments and international organizations recognize the importance of enhancing public sector finances, reporting, transparency, and accountability. Without demanding the improvements that are necessary, these bodies are destined to be confronting—and debating—the same issues again in the near future.”

IFAC promotes the adoption of high-quality accrual-based financial reporting by governments around the world; IPSASs are the only internationally-accepted standards for such reporting. This reporting provides the foundation for enhanced public sector financial management along with implementation of institutional reforms to support transparency and accountability, including:

• high-quality, timely, independently audited accrual-based financial reporting for the public sector;
• publishing fully transparent reports on a government’s position, performance, budgets, and appropriations to allow for proper scrutiny—particularly ahead of elections; and
• well-defined, publicly available principles for fiscal management and control, with full transparency to demonstrate that principles are being followed.

The International Federation of Accountants^® (IFAC^®) today published in the Spanish language the following guidance for professional accountancy organizations (PAOs):

• Mentoring Guidelines for Professional Accountancy Organizations
• Mentoring: The Path to Sustainable Development; and
• Establishing Governance: A Guide for Professional Accountancy Organizations.

These Spanish translations were performed by the Federación Argentina de Consejos Profesionales de Ciencias Económicas and are a result of the Ibero-American cooperation framework, known as the IberAm project. Established in 2012, the IberAm project—which includes IFAC and its member bodies in Argentina, Mexico, and Spain—is an IFAC-authorized translation and review process that strives to achieve longer-term, sustainable processes for single, high-quality Spanish translations of international standards and other IFAC publications. The Interamerican Accounting Association, IFAC’s regional organization for Latin America and the Caribbean, is an observer to the project. In addition, the project involves a Review Committee of technical experts representing IFAC member bodies in nine Spanish-speaking countries.

"Experience has shown that collaborative relationships between PAOs can be one of the most effective and sustainable approaches to building the capacity of the accountancy profession, particularly in emerging economies," said Alta Prinsloo, IFAC Executive Director, Strategy, and Chief Operating Officer. "In addition, establishing and maintaining a sound system of governance enables a PAO to maintain credibility and deliver on its value proposition to its members and to the public. We hope that these Spanish translations will encourage and support a wider range of PAOs to further contribute to the development of the profession in their own jurisdictions and beyond."

Recognizing the ever-increasing number of knowledge-sharing partnerships between PAOs, and their potential value as capacity-building facilitators, Mentoring: The Path to Sustainable Development highlights mentoring’s benefits—to the mentor, the mentee, and to the profession.

The Mentoring Guidelines offer practical guidance on how PAOs can enter into, and sustain an effective mentoring relationship that will achieve mutually agreed outcomes. It covers considerations before setting up a relationship, how to involve other stakeholders, such as government and aid agencies, and managing possible risks. The guidelines also include a sample Memorandum of Understanding.

Establishing Governance explores the key elements of a PAO’s governance structure and operations, with a focus on how a PAO can best adhere to good practice principles in delivering on its mission and/or vision. It includes case study examples from Kosovo, Mongolia, and Rwanda as illustrations of varying approaches around the world.

Additional Spanish translations of IFAC publications will be forthcoming.

For an overview of translations of IFAC’s publications, please visit the IFAC Translations Database.

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 over 175 members and associates in 130 countries and jurisdictions, representing approximately 2.5 million accountants in public practice, education, government service, industry, and commerce.

With the increased volatility in the modern business environment and continuing effects of the financial and economic crises, effective management of risk in organizations—including good internal control—has taken on even greater importance. Effective management of risk helps organizations achieve their objectives, while complying with legal, regulatory, and societal expectations, and enables them to better respond and adapt to surprises and disruptions.

With these key issues in mind, the International Federation of Accountants^® (IFAC^®) today published a thought paper, From Bolt-on to Built-in, on managing risk as an integral part of managing an organization.

The paper positions the management of risk as an indispensable and integral part of decision making and subsequent execution in order for boards and management to ensure their organization makes the best decisions and achieves its objectives. The paper also a) demonstrates the benefits of properly integrating the management of risk, including internal control, into the governance, management, and operations of an organization; b) provides ideas and suggestions on how such integration can be achieved; and c) furnishes practical examples of how professional accountants in business can support their organizations with this integration.

“This paper recognizes what risk management was originally intended to do for an organization—help support effective decision making and improve performance,” said IFAC CFO Fayez Choudhury. “Too many organizations don’t realize how useful risk management can be if integrated properly. Without this step—building risk management into your organization—too many management teams are missing the point, and missing the benefits.”

The thought paper is applicable to all organizations—regardless of size or structure, public or private—seeking to improve how they manage risk.

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 more than 175 members and associates in 130 countries and jurisdictions, representing approximately 2.5 million accountants in public practice, education, government service, industry, and commerce.