IFAC 2009 Global Leadership Survey

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16 Jan 2010

Over 100 presidents and CEOs of IFAC member bodies responded to IFAC's Third Annual Global Leadership Survey.

Key findings cover a wide-range of topics, including the need to support small and midsize businesses in the current environment and the increasing importance of adoption of international standards. Here is an excerpt regarding international standards:
Confidence in international standards. Respondents believe that it is very important for IFAC to assist investors and other consumers of financial information in better understanding the standards and practices used by the profession. This includes, in particular, building confidence in international standards and developing and promoting adoption of high-quality international standards in auditing and assurance, public sector accounting, ethics, and accounting education. More than half had confidence that international standards would increase in importance over the next three years – and a similar number believe that the auditing and financial reporting standards published by IFAC (International Standards on Auditing (ISAs) and the International Public Sector Accounting Standards (IPSASs)), along with the International Financial Reporting Standards (IFRS) and IFRS for SMEs, will gain importance.

[On 22 January 2010, IFAC temporarily withdrew this report "to incorporate additional responses and update the list of respondents. The report will be re-issued within the next few weeks."]

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