IFAC President Address to IPA Congress
The International Federation of Accountants (IFAC) President, Warren Allen has made a keynote address to a full-house of delegates at the Institute of Public Accountants (IPA) National Congress this morning.
Mr Allen's keynote address was entitled "The global accounting profession: working to strengthen the global economy" and he spoke of the important role of the accounting profession working together to bring the global economy out of crisis.
Mr Allen commented that the accounting profession is to be seen as leaders in enhancing economic stability.
"Countries will not achieve economic stability without a strong, active and disciplined accounting profession," said Mr Allen.
With reference to recruitment, Mr Allen said that continual encouragement to recruit the 'best and brightest' was crucial for the continuance of the accounting profession's role in strengthening the global economy.
"If the trend continues, the accounting profession may be unable to properly meet the demands of our global communities," he said.
Mr Allen also spoke of the importance of the small to medium enterprise and small to medium practice sectors and their contribution to the global economy, stating that, "SMEs are the engine room of every economy around the world".
Mr Allen also stressed the criticality of enhanced organisational reporting, stating this applied to SMEs and not just large businesses.
"Non-financial reporting is important for decision making, transparency and discharging accountability," said Mr Allen.
Mr Allen commended the IPA for its continued support to IFAC and its work globally.