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A speech given last month by Graham Ward, CBE, president, International Federation of Accountants (IFAC), at the Institute of Cost and Management Accountants of Pakistan's 10th Management Accountants International Conference focused on the main theme of the conference itself: the role that management accountants have to play in meeting emerging challenges.
Entitled 'Professional Accountants in Business: New Roles and New Challenges," Ward's speech acknowledged that the role of professional accountants in business has shifted from a more task-oriented focus on the books and the budget to an expanded role that now includes ethics, corporate governance and increased involvement in strategic decision-making. Ward also discussed the need for reliable financial reporting and the importance of management accountants' responsibilities in this area.
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