In a joint report published on Wednesday, 3 July, the International Federation of Accountants (IFAC), the Institute of Chartered Accountants in England and Wales (ICAEW), and the Basel Institute on Governance call on professional accountancy organisations to encourage their members to fully assume their roles in the fight against corruption.
Accountants contribute to anti-corruption efforts through various organisational roles. In the area of finance, they design controls and promote compliance, while in the area of internal audit, they examine systems and provide assurance on anti-corruption programmes. At the board-of-directors level, accountants influence governance, oversee compliance, and reinforce ethical culture. This report offers practical advice and concrete strategies for tackling anti-corruption initiatives.
In a statement, IFAC CEO Lee White emphasised, “The cost of corruption and financial crime are significant obstacles to economic prosperity and fairness in society”.
The UN estimates that, each year, 3.6 trillion dollars are lost to corruption. The global accountancy profession—which boasts over 3.8 million members—has significant influence in the fight against corruption in its [members’] capacity as business partners and advisors.
Read the report: https://aeur.eu/f/cxp (Original version in French by Anne Damiani)