Message from Senior Technical Manager, International Federation of Accountants (IFAC)

In the light of the economic turn Risk planningis an increasingly important and complex role for today's CFO.it'svital for CFOs to have a thorough understanding and appreciation of where the risks lie in business, risk appetite and strategies to mitigate risk and protect as well as create shareholder value.
International Federation of Accountants (IFAC) is actively engaged in promoting relevant knowledge, experience, and learning so the profession can better support the growing number of a million professional accountants worldwide working in different capacities as employees, advisors, consultants, and self-employed owner-managers in commerce, industry, financial services, and the public and not-for-profit sectors. Governance, risk management, and internal controlare among the core competencies of professional accountants working in business, who play a leading and public interest role in planning, implementing, executing, evaluating, and improving these areas.
Today mitigating risks takes more than mere risk management, it calls for Risk Intelligence. CFOs are strategically positioned to recognize, manage risks and opportunities. Building on this unique strategic perspective, CFOs are escalating their effectiveness in terms of risk management. Professional Accountants in Business (PAIB) committee expects to see more companies appointing Chief Risk Officers (CROs), working in partnership with the CFO, which will help to elevate risk management and increase the standards of professionalism in handling the risks facingorganisation.
On behalf of the IFAC, I would like to acknowledge the efforts of ICAP PAIB committee for their achievements it has gathered in a short span of time. We work in close collaboration and co-ordination for the development of accountants in business and hope that this association will get stronger with the new challenges as well. I wish ICAP a safe and successful CFO Conference.