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Tony Hegarty

Vickson Ncube

Role of the Accountancy Profession in

Economic Development

Miami, USA

May, 2014

Poverty

70% of

the world’s poor live in

middle income countries

More than

1 billion people go to bed hungry every night

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Global Aid Flows

3 Over 3 years

How is the Accountancy

Profession Contributing?

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5

Poverty Alleviation

High-Quality Financial Management, Reporting & Auditing

Attracting Foreign

Direct Investment

Transparency &

Accountability

Development &

Delivery of Public

Services

Growth &

Development of the

SME Sector

Enhancing the

Effectiveness of

Foreign Aid

Country Capacity Global Standards

Contribution of PAOs

Is the Accountancy

Profession delivering?

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Learning from Available

Diagnostics

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LOOKING FORWARD: QUO VADIS?

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PAOs

Reliable Accounting, Reporting

and Auditing

Economic Growth

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Poverty Reduction

Making a difference to the lives

of citizens

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From

Diagnostics to Sustainable

Capacity

Building

HOW CAN WE ACCELERATE?

DIAGNOSTICS TO IMPLEMENTATION FOR RESULTS (INTEGRATED APPROACH)

Statutory

Framework

Monitoring &

Enforcement

Education &

Training

Accounting

Profession &

Ethics

Accounting

Standards

Auditing

Standards

ACCOUNTANCY PROFESSION

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Global Strategic Partnerships

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OECD-DAC

MDB

PEFA UN FM

Agreement

Professional Organizations

INTOSAI

IFAC

IASB

IADB

AsDB

AfDB

IsDB

WB

MOU: INTOSAI and Donors

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Historic MOU between

INTOSAI and 16 donors signed

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Historic MOU between

IFAC and 10 donors signed

MOU: IFAC and Donors

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Statutory Framework

Accountancy Education &

Training Accountancy Profession &

Ethics

Accounting Standards

and Practice

Auditing Standards

and Practice

Monitoring, Enforcement & Oversight

Counterparts and Donors:

Capacity Building

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PARTNERING FOR RESULTS:

LEARNING FROM THE PAST, BUILDING THE FUTURE