Key roles played by accountancy profession of maintaining trust and confidence will be fastest path to recovery, IFAC finds
IFAC, the international accountancy body, is setting out the lessons learned from the Covid-19 crisis, highlighting the view that accountants will play a vital role in the global recovery and preparations for the next global crisis.
According to IFAC, professional accountants in business, public practice, and the public sector are key players, along with those charged with governance and regulatory bodies, in upholding the quality of reporting and providing markets and the broader public with reliable information.
IFACR highlights jurisdictional knowledge, ability to adapt and innovate, steadfast audit opinions, critical business advice and judgments as key areas where accountants are needed more than ever.
Drawing on analysis from ACCA and others, IFAC demonstrates the importance of the services provided by accountants and their chance to shine.
Full details of IFAC’s views on how accountants can maintain trust and confidence during and after the crisis can be found here