The topics of sustainability, digital transformation, and priorities for a post COVID-19 world were the focus of two recent reports from the International Federation of Accountants (IFAC) and its Professional Accountants in Business (PAIB) Advisory Group.

During its March 2021 virtual meeting, the PAIB group considered the key global trends impacting the future readiness of the accountancy profession. Those insights were summarized in a report, Enabling Purpose Driven Organizations: PAIBs Leading Sustainability and Digital Transformation, which explores the key insights and learnings from the discussions among this global group of business and finance leaders, drawing from their diverse experiences and expertise.

Key topics addressed in the report include:

  • The accountant?s role in value creation, sustainability, and tackling climate change
  • The rapidly changing face of the finance function due to accelerated digitization in procurement and supply chain
  • The nature of work and remote finance
  • Public sector and PAIB priorities post COVID-19?

As a member of IFAC, IMA? (Institute of Management Accountants) contributes to IFAC?s mission of strengthening the accounting profession through global initiatives, including the PAIB Advisory Group. IFAC is composed of 180 members and associate organizations in more than 130 countries and jurisdictions, representing nearly three million accountants in public practice, education, government service, industry, and commerce. The PAIB Advisory Group provides leadership and guidance on relevant issues pertaining to professional accountants in business and the business environments in which they work. IMA is represented on the PAIB Advisory Group by Esteban Quiros, CMA, finance and accounting director at Procter & Gamble and an IMA Global Board member.

?I appreciate the opportunity to represent IMA on this Advisory Group, which brings together finance and accounting leaders from around the world to examine some of the most pressing challenges facing professional accountants in business,? said Quiros. ?The issues we are addressing, such as sustainability and digitalization, are vital to IMA members in our role as true business partners within our respective organizations. I look forward to continuing to offer my insights, based on my own experience at a global organization, and to adding IMA?s voice to this important dialogue.?

Select members of the PAIB Advisory Group also recently participated in a global IFAC roundtable, which explored key strategic issues for the public sector and its finance leaders as the world?s governments advance from COVID-19 crisis response to recovery. The resulting report, From Crisis to Recovery: Public Sector Priorities to Support COVID-19 Recovery, focuses on how PAIBs have been a key part of the frontline response to the pandemic, helping governments and other public sector organizations direct emergency expenditure to priority areas, and reinforce trust in public services and spending amidst heightened demand for transparency and accountability.?

?It?s important we continue to drive forward the key areas of the PAIB agenda and share our learnings across the global accountancy profession. Together, we can enable a PAIB-relevant profession that is attractive to the new generation entering the workforce,? said Sanjay Rughani, IFAC PAIB Advisory Group chair, in a press release announcing the report.

For more information, please visit PAIB Advisory Group.?