Accounting for a Better World: Takeaways from the Latest PAIB Advisory Group Meeting

Professional accountants in business (PAIBs) occupy a pivotal position in driving sustainable business practices, fostering transparency, and contributing to the economic and social well-being of communities worldwide. Recognizing that in an increasingly interconnected and rapidly changing global economy, the role of accountants is evolving, the theme of our last PAIB Advisory Group meeting was Accounting for a Better World. The event was hosted by IFAC Member SAICA (South African Institute of Accountants) in Cape Town, South Africa.

PAIBs comprise a significant part of the profession working in commerce, industry, financial services, education, and the public and not-for-profit sectors, and the PAIB Advisory Group focuses on ensuring these accountants meet the future needs of business and the public sector by convening leaders, sharing their knowledge and insights, and identifying trends globally.

Informed by IFAC's PAIB Advisory Group's last meeting, our new article, Accounting for a Better World, outlines multiple opportunities where professional accountants can have an impact, including:

• Enabling Africa's transformation
• Diversifying entry into the accountancy profession and strengthening the talent pipeline
• Ensuring sustainability and excellence as a CFO Driving integrated thinking through strong corporate governance
• Harnessing the transformative opportunities of AI
• Nature-related accounting and financial disclosure

Sanjay Rughani, PAIB Advisory Group Chair said: "To IFAC's members worldwide, I urge you to seize the momentum generated by our discussions and embark on a journey of continuous learning, innovation, and collaboration. Our discussions were not merely exchanges of ideas but rather catalysts for action, igniting a sense of purpose and urgency. Professional accountants, now more than ever, have the opportunity to contribute to creating a better world."

Read the article now.

About IFAC 

IFAC is the global organization for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. IFAC is comprised of 180 members and associates in 135 countries and jurisdictions, representing more than 3 million accountants in public practice, education, government service, industry, and commerce. 

About the PAIB Advisory Group 

Formed in 1977, the PAIB Advisory Group is comprised of volunteers with experience and expertise in the world of business and the public sector, nominated by the professional accountancy organizations that make up IFAC's membership.