The 2024 IFAC (International Federation of Accountants) Ordinary Council Meeting took place from 6-7 November in Paris, announcing key developments. Anis Wahabi and Vincent Domon represented IECnet at the meeting.
Jean Bouquot was elected as President, with Taryn Rulton as Deputy President, while new members and board appointments were confirmed. Topics included global sustainability reporting, AI's impact on accountancy, and professional development initiatives. IFAC emphasized ethical AI use, enhanced sustainability frameworks, and virtual Professional Accountancy Organizations (PAOs).
The Corporate Sustainability Reporting Directive (CSRD) was also discussed, aiming to enhance transparency and accountability across EU companies by mandating robust ESG reporting. France was highlighted for leading its implementation. The International Public Sector Accounting Standards Board (IPSASB) presented progress on public-sector sustainability standards, focusing on climate-related disclosures and accountability for governments and public entities.
