IFAC enlists accountants in anti-corruption efforts

The International Federation of Accountants wants more accounting organizations to get involved in combating corruption around the world.

IFAC released an advocacy workbook Tuesday recommending some of the actions that professional accountancy organizations can take to fight money laundering, bribery and other crimes in business and the public sector. Activities include advocating for needed legislative and regulatory changes, linking up with partner organizations, crafting messages for stakeholders and institutional partners, engaging with the media, convening conferences or roundtables, and creating training courses and workshops.

The workbook, "Global Fight, Local Actions," was used to facilitate discussion at the annual Pan African Federation of Accountants PAO Leadership Forum as part of a workshop on anti-money laundering and the Financial Action Task Force's "Grey List." The PAFA Forum was held in advance of the 2023 African Congress of Accountants this week in Abidjan, Côte d'Ivoire.

Courtesy of IFAC

"PAOs and the accountancy profession are essential stakeholders at the center of the fight against corruption, in every jurisdiction, in every region," said Scott Hanson, director of policy and global engagement at IFAC, in a statement Tuesday. "Equipping our member organizations to lead anti-corruption efforts in their jurisdictions was one of our priority actions in last year's Action Plan for Fighting Corruption and Economic Crime, which this new workbook delivers. We look forward to talking to PAOs around the world to continue helping them develop their national anti-corruption advocacy plans."

He discussed IFAC's earlier anti-corruption efforts last September during an Accounting Today podcast interview.

IFAC plans to build on the effort with more initiatives on priority anti-corruption areas, including the interconnected issues of sustainability reporting, public financial management and financial literacy.