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In the present age, accounting profession has become more transparent, visible and explicable, Stakeholders of accounting information are now more aware of standardised information, which is more comprehensible and relied upon.
The credit for all this goes to IFAC, for playing an important role for the last 30 year; serving the public interest by developing quality international standards, promoting their adoption and use, contributing to the profession's growth around the world.
IFAC has very eloquently played a pivotal role to strengthen world-wide accountancy profession by supporting and facilitating the implementation of International Standards.
Over the years, IFAC has addressed the need for high quality financial reporting and financial management through the development of International Public Sector Accounting Standards and increased role of the regulation of accounting profession.
IFAC has played a vital role in emerging nations, especially keeping in focus the small and medium practices. This all has been achieved by increased collaboration with IFAC member and greater outreach to regional accountancy organisations.
IFAC must be encouraged and supported in its commitment to greater accountability and responsibility in the profession which it has successfully done during the last 30 year and hopefully the accountancy profession shall become even more respected, transparent an adaptive in the times to come. Happy 30th Anniversary to IFAC.

Copyright Business Recorder, 2007

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