This Preface sets out the scope, purpose, and due process of International Good Practice Guidance (IGPG) published by IFAC’s Professional Accountants in Business Committee. IGPG, which starts by clearly identifying principles, (a) is generally accepted internationally, and (b) applies to organizations of all sizes in commerce, industry, the public sector, education, and the not-for-profit sector.

This strategy and work plan sets out IFAC’s vision, strategic direction, and corresponding work plan in relation to professional accountants in business for the period 2010–2012. Prepared by the PAIB Committee, the strategy is cast within the context of the current and anticipated environment and the perceived needs of organizations in general. It sets the direction and priorities of IFAC’s services relevant to professional accountants in business.

This strategy and work plan sets out the vision, strategic direction and corresponding work plan of the International Federation of Accountants’ (IFAC) Professional Accountancy Organization Development Committee for the period 2011-2014. This vision exists within the context of the current and anticipated environment in addition to the perceived needs of Professional Accountancy Organizations (PAOs) in emerging and developing countries and their country contexts.

This report highlights the progress made to date and key findings from the first phase (Pre-Implementation Monitoring) of a two-phase initiative to evaluate whether the IAASB needs to make further changes to the 36 clarified International Standards on Auditing (ISAs) and clarified International Standard on Quality Control (ISQC) 1, which became effective January 15, 2009. 

Phase 1 began in June 2009 with the an information-gathering exercise to learn about the experiences of practitioners in preparing to implement the clarified ISAs.

IFAC and The Banker magazine conducted a global survey of banks on lending to small and medium-sized enterprises (SMEs) in order to better understand the needs of lenders and SMEs' access to financing, as well as how the accountancy profession can best support both SMEs and lenders.

It is a great pleasure to participate in this Roundtable. As the co-owner of an SME the subject matter is of both personal and professional interest to me. Before I take you through the results of our April SMP Quick Poll I’d like to reiterate, though I’m sure we need no convincing, the importance of SMEs, the vital role the accountancy profession plays in supporting SMEs, and what the SMP Committee that I chair is doing to help.