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International Accountancy Organizations launch new global resource for Professional Accountants in Business

Monday, October 2, 2006

IFAC has collaborated with its member organizations to develop IFACnet – A KnowledgeNet for Accountants in Business ( This new global resource will provide one-stop access to leading-edge articles, good practice guidance, and tools and techniques for accountants employed in commerce, industry, the public sector, education, and the not-for-profit sector.

According to members of IFAC’s Professional Accountants in Business Committee, users of IFACnet will find relevant information on a wide range of financial and management accounting topics, including strategy, budgeting and planning, corporate governance, risk management, and professional development emphasis.

Thirteen accountancy organizations, including IMA, together with IFAC currently participate in the KnowledgeNet by sharing their electronic resources through IFACnet. Others will be coming on board in the coming months. In addition, during the first quarter of 2007, the KnowledgeNet will be expanded to serve the needs of small and medium practices and, by the end of 2007, will offer customized information for broader audiences of accountants.