19th World Congress of Accountants

19 November 2014

Igor Kozyrev, Chairman of the Management Board of the NOFA Foundation and Askold Birin, Vice-Chairman of the Management Board of the NOFA Foundation took part in the 19th World Congress of Accountants. The Congress was organized by the International Federation of Accountants (IFAC) and the National Council of Commercial and Accounting Experts of Italy and held on November 10-13 of this year in Rome (Italy).

More than 6000 people from more than 100 countries participated in this event. Participants of the Congress represented professional associations of accountants and auditors, scientific and educational institutions, regulators and also the international and regional organizations.

During three plenary and section sessions a wide range of issues devoted to the future of accounting was considered. The most important of them included doing business in turbulent time, increase of transparency and accountability of governments as a way to economic growth, integrated thinking as a key to improvement of performance results and creation of value.

In the course of discussions participants of the congress discussed issues of ensuring consistent application of international standards, integrated reporting, the role of accounting profession in ensuring economic growth, strengthening and transformation of accounting profession, financial statements of non-profit organizations, public sector accounting, the Code of ethics for professional accountants, audit quality, changes in audit reporting, specific issues of audit of the financial statements of small and medium-sized companies, expectations of audit committees, opportunities and challenges in implementation of new international standards of accounting education, translation of international standards into national languages, creation and development of professional accounting institutes.

Igor Kozyrev noted "The World Congress of Accountants gives a unique opportunity to receive information first-hand and to discuss it with colleagues from around the world. The discussions which took place in the course of the congress enable us to outline vision of the future of accounting profession and its role in economic development".