IFAC Issues Policy Position Paper on Effective Governance, Risk Management, and Internal Control
 

IFAC has issued Policy Position Paper 7, Effective Governance, Risk Management, and Internal Control, which highlights good practice and the role of professional accountants in business in achieving sustained organizational success. It encourages greater global consistency in principles and guidelines that help organizations implement governance, risk management, and internal control as integrated parts of their management systems.

 

The IFAC Small and Medium Practices (SMP) Committee has released its Strategy and Work Plan for 2013-2016. The publication outlines the committee’s objectives, strategic plan, and key planned activities. It also highlights how the committee’s planned activities align with and support IFAC’s overall strategy and work plan to support the worldwide accountancy profession. While this document contains the SMP Committee’s strategy for the four-year period 2013–2016, the work plan activities detailed are only for 2013. Work plans for the three subsequent years will be developed annually.

 

The IFAC Small and Medium Practices (SMP) Committee has released the third edition of its Guide to Practice Management for Small- and Medium-Sized Practices (PM Guide). The comprehensive guide is comprised of eight standalone modules on a broad range of topics to help practitioners effectively market, manage, and grow their accounting practices. The new edition of the guide features improvements in content and functionality, including new and updated material on value pricing, knowledge networks, social media marketing, building a business advisory practice, and cloud computing. The eight tables of contents are now cross-linked to improve navigation, and the lists of further readings at the end of each module have been updated. See also the Companion Manual for ways that professional accountancy organizations can use the guide to benefit their members.