This update was first published in the January 2012 UK edition of Accounting and Business magazine.
The Professional Accountants in Business (PAIB) Committee of the International Federation of Accountants (IFAC) has issued new International Good Practice Guidance, Predictive Business Analytics: Improving Business Performance with Forward-Looking Measures.
The guidance is designed to help accountants and their organisations embrace predictive business analytics.
The Predictive Business Analytics report is available on the IFAC website - refer to the external links section below.
Yvonne Lang, director, and Kern Roberts. associate director, Smith & Williamson