The Board of International Federation of Accountants (IFAC) approved on its last week meeting in Toronto, Canada, increasing the involvement of developing nations in its activities by expanding the IFAC Developing Nations Committee and by providing financial support to qualified individuals from developing nations who would like to participate on IFAC boards and committees. Further, it also gave recognition to the role of its Professional Accountants in Business (PAIB) Committee in developing global guidance by clarifying its mission.

Additionally, the Board approved the following appointments, which will be effective January 1, 2007: Edward Chow of Hong Kong as the Chair of the IFAC Professional Accountants in Business Committee, Mark Hathorn of the United Kingdom as Chair of the IFAC International Public Sector Accounting Standards Board, Ignatius Sehoole of South Africa as Chair of the Developing Nations Committee.

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