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IFAC study links accounting to prosperity and better living standards

  • IFAC (International Federation of Accountants) (lt gray) Image

13 Nov 2015

The International Federation of Accountants (IFAC) has published a study, conducted by the Centre for Economics and Business Research on IFAC's behalf, that finds that regions of the world with a higher share of accountants in total employment have a higher per capita GDP.

The study reveals that the accounting profession is strongly linked to national economic growth and improved living standards and is estimated to contribute $575 billion annually to the global economy. IFAC concludes:

Professional accountants contribute to better information, reporting, measurement and decision making. When nations have a robust system to track the flow of money in government, within businesses, and between organizations, transparency and accountability are improved, organizations are strengthened, and economies are enhanced.

Please click to access the study Nexus 2: The Accountancy Profession – A Global Value Add on the IFAC website.

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