IFAC Global Survey Results Released

NEW YORK- In recognition of "World Accountancy Week," the International Federation of Accountants (IFAC) released on December 3 , 2007 the results of its first annual Global Leadership Survey, which highlights issues the profession will be addressing in the coming year, national and regional perspectives on economic growth, and the profession’s role in contributing to that growth.

Worldwide leaders of professional accountancy organizations agreed that the main focus of the 2008 should be maintaining the profession’s good reputation, according to survey results.

The major Findings of the survey:

• Convergence to a single set of both international accounting and international auditing standards is very important to a country’s economic growth and development;
• The limited supply of qualified accounting professionals is having a negative effect on the growth of some national economies;
• Auditor liability remains a significant national issue; and
• Effectively supporting small and medium entities (SMEs) is an important issue for the global profession and will have an impact on economic development.

IFAC is the worldwide organization for the accountancy profession dedicated to serve the public interest by strengthening the profession and contributing to the development of strong international economies.

For more information please visit the following website: www.ifac.org