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The Accountancy Profession: Fighting Fraud and Corruption

  • IFAC - Regulations Image

Nov 17, 2016

On November 17, 2016, the International Federation of Accountants (IFAC) released an open letter by Olivia F. Kirtley, IFAC President, to His Holiness Pope Francis, outlining all that the profession has done to support his call to action, as she prepares to hand her office over to President-Elect Rachel Grimes.

Two years ago, following the 2014 World Congress of Accountants in Rome, Pope Francis invited thousands of professional accountants to a private audience at the Vatican and challenged the global profession’s leaders to do more in the global fight against fraud and corruption.

In his remarks, His Holiness said that in uncertain economic times, “There is a stronger temptation to defend one’s interest without concern for the common good, without paying much heed to justice and legality. For this reason everyone, especially those who practice a profession which deals with the proper functioning of a country’s economic life, is asked to play a positive, constructive role in performing their daily work.”

Ms. Kirtley’s letter stated, “I am pleased to report that following our meeting with you, IFAC has focused on intensifying the profession’s activities in several ways that we believe will have lasting impact in reducing both the supply and demand side of fraud and corruption.”

These efforts have been concentrated across three key fronts:

  1. Capacity Building
  2. Governance
  3. Public Sector Financial Management

Review the open letter on the IFAC's website.

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