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Resources and Tools
To support finance professionals in their traditional role, as well as in the area of New Finance, the Financial Management Center has assembled resources and tools in the following topical areas: Audit Committee Toolkit, Business & Industry Economic Outlook Survey, and BusIndNews, and the e-newsletter for AICPA members in business and industry.
Knowledgenet for Accountants in Business
This new global web-based resource provides one-stop access to thousands of articles, management tools, and good practice guidance developed for professional accountants in business by IFAC and more than a dozen professional accountancy organizations worldwide. Learn More>>
New Report Examines Developments in Public Sector Performance Measurement Structures
IFAC's PAIB Committee has conducted a survey to obtain information about the development of financial and non-financial performance measurement and reporting structures in various public sector entities around the world. The results of this survey, contained in the information paper Developments in Performance Measurement Structures in Public Sector Entities, demonstrate that respondents are much more satisfied if the performance measurement structure of their public sector entity possesses more advanced elements like financial and non-financial KPIs, accrual accounting, and the capability for capturing, processing and reporting useful information on both financial and non-financial developments. The full report can be downloaded free-of-charge from the PAIB section in the IFAC online bookstore at www.ifac.org/store/.
Regulatory Developments in Financial Reporting Supply Chain
In the first phase of a new business-reporting project, 74 IFAC member bodies and associates from 58 different countries, including all major economies, have compared the issues and recommendations of the March 2008 report, Financial Reporting Supply Chain: Current Perspectives and Directions, with the current regulatory developments in their respective countries. The study shows:
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Regulatory progress in many areas of governance, reporting, auditing and usefulness of financial reports;
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Many institute actions in areas of governance, reporting, auditing and usefulness of financial reports; and
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A number of remaining issues, such as a lack of focus on key risks that organizations are facing, overregulation, and the use of fair value accounting. |
For the full results of this investigation and for more information on the next phases of the business-reporting project, please visit www.ifac.org/frsc/.
IFAC to Issue Web-Based Sustainability Framework
To help PAIBs embrace the challenges of sustainability, IFAC's PAIB Committee is completing the IFAC Sustainability Framework, which will be made available on the IFAC Web site at the start of the New Year. The framework will be a web-based resource that can help PAIBs better understand and influence the way organizations integrate sustainability into their businesses. Using links to other resources and good practice, the framework will help PAIBs provide necessary leadership by undertaking appropriate leadership, performance and risk-management activities.
The framework builds on the following two IFAC 2006 information papers:
These publications called for PAIBs to embrace the challenges presented by sustainability - covering a range of issues such as social (like labor-working conditions) to environmental challenges (like climate change). The framework provides PAIBs with many of the resources to do so. IFAC's Sustainability Framework will be made accessible via the International Center for Professional Accountants in Business at www.ifac.org/PAIB/.
Accountability by Numbers
This article from the Journal of Accountancy explores the balanced scorecard approach, which employs an array of indicators related to an organization's strategic goals and progress toward achieving them. Learn More>>
BusIndNews
BusIndNews, the e-newsletter for AICPA members in business and industry, contains timely information on current issues and developments in areas related to business and industry. Learn More>>
AICPA Audit Committee Toolkit/Audit Committee Effectiveness Center
The AICPA Audit Committee Toolkit is designed to help committees, internal auditors, and financial leaders execute corporate governance as effectively and efficiently as possibly. Learn More>>
AICPA Business and Industry Economic Outlook Survey
Need an economic crystal ball? Gain insight and find out what other CPA decision-makers are thinking by reading the results of the AICPA Business & Industry Economic Survey. Learn More>>
Journal of Accountancy—flagship magazine of the AICPA. Learn More>>
The CPA Letter—Published by the Communications/Public Relations Team of the AICPA. Learn More>>
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