The role of professional accountants in business is hitting the news--and CIMA has a key part to play.

AuthorTilley, Charles
PositionIN BUSINESS - Column

A frenzy of activity in international accountancy over the past few months has highlighted the increasing recognition and importance of the role of professional accountants in business.

In April, Graham Ward, president of the International Federation of Accountants (IFAC), gave a speech to the Turmob international symposium in Antalya, Turkey, on challenges and developments in international accountancy. He said that accountants were at a new frontier for the profession. "Globalisation ... has brought with it ever greater awareness of the value that our profession can deliver: as professional accountants in business providing strategic and financial direction; as professional accountants in practice providing external assurance; and as professional accountants in the public sector strengthening governmental accountability."

Ward added that there was a greater awareness than ever of the value of the profession to business development and growth, the fiscal responsibility of government and economic stability worldwide.

CIMA enjoys an increasingly significant role in promoting this agenda for accountants in business through its high-profile presence in IFAC. The professional accountants in business committee (PAIB), chaired by council member Bill Connell, addresses issues ranging from narrative reporting to corporate governance. A report produced jointly by CIMA and the PAIB last year, Enterprise Governance: Getting the Balance Right, was widely acclaimed and a corporate code of ethical conduct booklet is being developed in association with IFAC's ethics committee. An innovative web-based resource to bring together information from IFAC member bodies is also under development.

CIMA was one of the member bodies that committed support for developing nations at the federation's CEO meeting that it hosted in February. Ward acknowledged that the investment of...

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