The International Federation of Accountants has recently published The Action Plan for Fighting Corruption and Economic Crime to help accountants in the fight against fraud and corruption. The action plan comprises 30 targeted actions for the accounting and finance profession that are related to education, evidence-based policy, global standards, partnership and thought leadership.
IFAC CEO Kevin Dancey says: "Corruption and related economic crimes, such as money laundering, bribery, tax evasion and fraud, are significant obstacles to economic growth and human development and, ultimately, to achieving the UN Sustainable Development Goals—all seventeen of them." And he states that accountants worldwide are key when it comes to tackling corruption and economic crime. He is hopeful that the implementation of this plan will drive positive economic change.
The plan has five pillars:
- Harnessing the full potential of education and professional development
- Supporting global standards
- Contributing towards evidence-based policymaking
- Strengthening impact through engaging and public partnership; and
- Contributing expertise through thought leadership and advocacy
The action plan has been welcomed by ICAEW, and their senior lead, ethics, David Gomez says: "We believe that accountants play a key role in the fight against economic crime, so we’re pleased to support IFAC's anti-corruption plan which sets out specific actions for accountancy bodies to take in relation to tackling corruption and economic crime. At ICAEW, we're continuing to engage with government on economic crime and corporate transparency, while we're also ensuring our members are aware of these issues as part of their CPD."
IFAC says that the creation of this action plan is just the beginning and that while fighting corruption and economic crime have always been core components of the accountancy profession, this plan will give that role within the profession greater clarity and emphasis.
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