Accountancy Development for Results Global Conference 2014, Accountancy: Framing the Future

The World Bank is hosting a second Accountancy Development for Results event on November 10, on the occasion of the World Congress of Accountants in Rome. A forward-looking, solutions-focused discussion with leaders of the global accountancy profession, Accountancy: Framing the Future will help shape the World Bank’s ongoing engagement with accountancy profession.

OVERVIEW
BACKGROUND
EVENT DETAILS
AGENDA
RESOURCES

The World Bank is hosting a second Accountancy Development for Results event on November 10, on the occasion of the World Congress of Accountants in Rome.

A forward-looking, solutions-focused discussion with leaders of the global accountancy profession, Accountancy: Framing the Future will help shape the World Bank’s ongoing engagement with accountancy profession.

Through its Governance Global Practice, the World Bank joins with the accountancy profession to advance this important agenda. It supports the WCOA’s Vision 2020 and works closely with IFAC, PAOs and regional bodies worldwide to foster inclusive and sustainable growth and shared prosperity through jobs, increased investment, and better governance.

Developing countries, supported by the World Bank, are working to build robust economies with effective systems of governance. Strong financial reporting systems, with sound accounting and auditing frameworks, adequate requirements, well-trained practitioners and effective mechanisms to ensure compliance, are essential pillars to underpin this.

Developing countries need better investment climates; opportunities for SMEs to access finance; improved public sector governance; a workforce with the skills and competencies to work in the modern marketplace, and commitment to tackling endemic corruption. The accountancy profession offers a depth of insight into these issues and is uniquely positioned to support development efforts.

Accountancy: Framing the Future will harness the international experience and knowledge of key leaders of the accountancy profession to consider the profession’s role in helping frame the financial landscape of the future.

The event will focus on four interrelated dimensions:

Developing economies need a well-managed public sector and there is scope for more interchange of ideas and sharing of skills between the public and private sectors.
Public oversight of the accountancy profession in the developing world will give greater credibility to calls for engagement in broader governance debates.
The title accounting technician covers a wide number of important roles supporting every type of business and government. The whole profession benefits from developing the skills and expertise of everyone performing accountancy tasks.

Modern tools and information technology offer opportunities to streamline and enhance the quality of services, especially for SMEs, and increase efficiency and timeliness in the financial reporting supply chain.