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Protecting the public interest is crucial to the development of global accountancy profession, says ACCA

Date

19 Aug 2016

Sections

Euro & Finance
Global Europe

ACCA's 80-plus global partnerships help to build the profession and financial capability

Protecting the public interest is a vital part of developing a global accountancy profession, says ACCA (the Association of Chartered Certified Accountants).

Details of ACCA’s development work is included in a publication called Developing the profession (download the Developing the profession document, PDF format, 3.7 MB), in which the global professional body for accountants explains how its network with governments, donor agencies and other professional bodies helps to enhance trade, grow the investment climate, promote ethical practices, support the development and implementation of global accounting standards and above all protect the public interest.

Stephen Heathcote, ACCA’s executive director Markets, explains: ‘ACCA works in collaboration with its partners to develop a profession that is sustainable, delivers concrete value for national economies, and which complies with international standards and ethical practices.

‘It’s through these global partnerships with professional accountancy organisations and other key stakeholders that ACCA can support the development of a robust and sustainable accountancy profession and help ensure there is a strong pipeline of professionally qualified and work-ready accountants. This really matters at a time when scrutiny and accountability are in demand.’

ACCA has over 30 years’ experience of working on donor funded development projects and through self-funded initiatives. Currently this includes a project to strengthen the national Professional Accountancy Organization (PAO) of Rwanda – the Institute of Certified Public Accountants of Rwanda (iCPAR) the delivered under the PAO Capacity Building Programme of the International Federation of Accountants (IFAC) and an initiative supported by British Embassy Jakarta through South East Asia Prosperity Fund Programme, to build the capacity of the Government Auditors & Finance Officers in Indonesia to implement International Public Sector Accounting Standards (IPSAS).

The IFAC programme is funded by the Department for International Development in the United Kingdom and the project will support iCPAR as it defines its strategy and implements sustainable systems for accountancy education, qualification, and continuing professional development. This project will support iCPAR to foster a lasting, sustainable, profession in Rwanda that enhances economic growth.

ACCA also works with:

  • The United Nations Conference on Trade and Development (UNCTAD). The objective of UNCTAD’s accounting work is to contribute to sustainable development and inclusive growth by:- strengthening the corporate reporting infrastructure for high quality and internationally comparable reporting

- integrating environmental, social and governance (ESG) reporting into companies
- promoting accounting for Micro, Small and Medium-sized Enterprises (MSMEs), and

- strengthening the accounting profession.

ACCA and UNCTAD have collaborated on implementation of the Accounting Development Tool in several countries, most recently in Kazakhstan under an overall coordination of the Ministry of Finance in the country.

  • National bodies and governments in Albania, Mauritius, Singapore, UAE and Vietnam, on a broad range of capacity building projects. The work in the UAE was to set up a long term strategic partnership with the Accountants and Auditors Association (AAA), to implement a national qualification and support AAA to build its capacity and meet its longer-term strategic objectives.
  • ACCA is a signatory to the UK Department for International Development (DFID), Investment Facility for UK Specialist Expertise (IFUSE). ACCA has undertaken a number of capacity building assignments through this important initiative, in the DFID partner countries and regions, working in partnership with government departments to support business environment improvement.

Steve Heathcote concludes: ‘Capacity building work cannot be done in isolation and it’s through our 80-plus global relationships – from MOUs to strategic partnerships – that we deliver a range of benefits, from joint certification, capacity development tuition support, and many other areas of co-operation and development tailored to meet the needs of the unique partnership environment. 

‘Ultimately, all this work is about building robust economies. As ACCA’s 2016 /17 strategy is well underway, I look forward to more exciting initiatives to support the development of a robust global profession that delivers this important objective and truly supports the public interest.’

Further detail of ACCA’s capacity building work can be found in its recently published Integrated Report <IR>.  Visit the ACCA integrated report website

- ends -

For media enquiries, contact:

Louis Clark, ACCA Newsroom

T: +44 (0)20 7059 5622 +44 (0)20 7059 5622

M: + 44 (0)7976 778 648 + 44 (0)7976 778 648

E: louis.clark@accaglobal.com Twitter @ACCANews / @louisclarkPR

Notes to Editors

About ACCA

ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants. It offers business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management.

ACCA supports its 188,000 members and 480,000 students in 178 countries, helping them to develop successful careers in accounting and business, with the skills required by employers. ACCA works through a network of 100 offices and centres and more than 7,110 Approved Employers worldwide, who provide high standards of employee learning and development. Through its public interest remit, ACCA promotes appropriate regulation of accounting and conducts relevant research to ensure accountancy continues to grow in reputation and influence.

Founded in 1904, ACCA has consistently held unique core values: opportunity, diversity, innovation, integrity and accountability. It believes that accountants bring value to economies in all stages of development and seek to develop capacity in the profession and encourage the adoption of global standards. ACCA’s core values are aligned to the needs of employers in all sectors and it ensures that through its range of qualifications, it prepares accountants for business. ACCA seeks to open up the profession to people of all backgrounds and remove artificial barriers, innovating its qualifications and delivery to meet the diverse needs of trainee professionals and their employers.

 

 

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