IFAC Looks to the Wisdom of the Young

The International Federation of Accountants (IFAC) has created a Young Leaders Collective in the hope that the profession can learn from the perspective of newly qualified and part qualified accountants.

IFAC says it wants to use the insights of Collective members on some of the biggest challenges and opportunities facing the profession.

It will also “ask them about some of IFAC’s most important initiatives, including sustainability, fighting corruption, artificial intelligence and attracting and retaining talent”.

Members are appointed for one year, with the possibility of renewal.

The 28 members of this new Collective come from Australia, Bangladesh, Botswana, Brazil, Cyprus, The Gambia, Germany, Hong Kong, India, Ireland, Korea, Maldives, Malaysia, Nepal, Pakistan, Poland, Portugal, Romania, South Africa, Saudi Arabia, the UK, and Zimbabwe.

IFAC was launched in 1977 with 63 founding members from 51 countries in 1977. Its membership has grown to now include 180 members and associates in 130 jurisdictions worldwide.

Its stated aim is to strengthen the global accountancy profession in the public interest by:

• Developing high-quality international standards in auditing and assurance, public sector accounting, ethics, and education for professional accountants and supporting their adoption and use;
• Facilitating collaboration and cooperation among its member organizations;
• Collaborating and cooperating with other international organizations; and
• Serving as the international spokesperson for the accountancy profession.