COMPETENT AND VERSATILE — Professional Accountants in Business

Worldwide, more than one million professional accountants work in commerce, industry, financial services, education, and the public and not-for-profit sectors. Many of them are in positions of strategic or functional leadership. These professional accountants in business (PAIBs) are well-placed to create long-term sustainable value for their organizations.
  
PAIBs play key roles in organizations— roles that often go far beyond the stereotypical perceptions of accountants. It may not be readily apparent to all employers and business owners, but they can capitalize on professional accountants’ training, knowledge and skill sets to help guide their organizations toward long-term sustainable success.

To help the global accountancy profession respond to changing expectations of society, financial markets and organizations, the International Federation of Accountants (IFAC) has identified eight drivers of sustainable organizational success. These eight drivers, which draw from various management and quality frameworks, provide a basis for understanding how professional accountants can support organizations in sustainable value creation.

The ability of PAIBs to help drive sustainable value creation is based on a range of professional skills and a particular attitude and mindset. That mindset needs to embrace five key areas: Professionalism and ethical behavior; Professional judgment; Organizational and environmental awareness; An investor and wider stakeholder focus; and Change, uncertainty and complexity. 

For more information, read the publication, Competent and Versatile: How Professional Accountants in Business Drive Sustainable Organizational Success, available at the International Center for Professional Accountants in Business on the IFAC website (www.ifac.org/paib).