Framing the Future of the Accountancy Profession: Focus of World Bank 2014 Global Conference
Developing countries, with the help of the World Bank, have been working to build robusteconomies with effective systems of governance. This must be underpinned by essential pillarsincluding strong financial reporting systems with sound national accounting and auditingframeworks, adequate requirements, well-trained practitioners and effective mechanisms toensure compliance.
Through its Governance Global Practice, the World Bank has joined with the accountancy profession to advance this important agenda. Against this background, the second staging of theWorld Bank’s Accountancy Development for Results Global Conference was held in Rome, Italy on November 10, 2014 under the theme Accountancy: Framing the Future.
The event provided a forum for discussion on how professional accountancy bodies in developing countries can work in partnership to strengthen national professions and to enhance their role in improving public accountability, transparency and the climate for investment. The four key topics covered at the conference were:
- The profession’s role in improving public oversight;
- Developing people and improving skills;
- Getting the most out of information technology;
- Contributing to modern public financial management.
Speakers during the opening session of the conference included Mrs. Samia Msadek, Practice Director – Governance, World Bank Group; and Mr. Fayez Choudhury, Chief Executive Officer, International Federation of Accountants (IFAC).
Frank V. Myers, ICAC President, was also a presenter/panelist at the event for the break-out session on Developing People and improving skills that will focus on technician qualification during which panellists shared experiences and proposed practical reforms that national and regional professional accountancy organizations (PAOs) can implement to accelerate the development of more technician accountants required to serve in both public and private sectors.
The conference closed with a panel discussion titled Looking Forward: Working Together to Promote Accountancy Development and Achieve Sustainable Results, which summarized the key action points from the break-out discussions. Participants also discussed how PAOs and the World Bank can cooperate in the months and years to come to address the four priority areas and help the profession in the developing world to thrive and make a decisive contribution to economic development and shared prosperity.
Photo Caption:
Presenters/panelists for the break-out session on “Developing People and improving skills that will focus on technician qualification” (from L-R) Azim Omar, Senior Executive, South African Institute of Chartered Accountants; Margaret Unubun, CEO, Association of Accountancy Bodies in West Africa (ABWA); Frank Myers, President, Institute of Chartered Accountants of Caribbean (ICAC); Mark Farrah, CEO of AAT UK and Patrick Kabuya, Senior Financial Management Specialist Governance, World Bank (Moderator).
