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Tony Hegarty
Vickson Ncube
Role of the Accountancy Profession in
Economic Development

Miami, USA
May, 2014




Poverty
70% of
the worlds poor live in
middle income countries
More than
1 billion people
go to bed hungry every night
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Global Aid Flows
3 Over 3 years
How is the Accountancy
Profession Contributing?
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Poverty Alleviation
High-Quality Financial Management, Reporting & Auditing
Attracting Foreign
Direct Investment
Transparency &
Accountability
Development &
Delivery of Public
Services
Growth &
Development of the
SME Sector
Enhancing the
Effectiveness of
Foreign Aid
Country Capacity
Global Standards
Contribution of PAOs
Is the Accountancy
Profession delivering?
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Learning from Available
Diagnostics
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LOOKING FORWARD: QUO VADIS?
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PAOs
Reliable
Accounting,
Reporting
and
Auditing
Economic
Growth
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Poverty
Reduction
Making a difference to the lives
of citizens
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From
Diagnostics to
Sustainable
Capacity
Building
HOW CAN WE ACCELERATE?
DIAGNOSTICS TO IMPLEMENTATION FOR RESULTS
(INTEGRATED APPROACH)
Statutory
Framework
Monitoring &
Enforcement
Education &
Training
Accounting
Profession &
Ethics
Accounting
Standards
Auditing
Standards
ACCOUNTANCY PROFESSION
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Global Strategic Partnerships
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OECD-DAC
MDB
PEFA
UN FM
Agreement
Professional
Organizations
INTOSAI
IFAC
IASB
IADB
AsDB
AfDB
IsDB
WB
MOU: INTOSAI and Donors
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Historic MOU between
INTOSAI and 16 donors signed
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Historic MOU between
IFAC and 10 donors signed
MOU: IFAC and Donors
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Statutory
Framework
Accountancy
Education &
Training Accountancy
Profession &
Ethics
Accounting
Standards
and
Practice
Auditing
Standards
and
Practice
Monitoring,
Enforcement
& Oversight
Counterparts and Donors:
Capacity Building
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PARTNERING FOR RESULTS:
LEARNING FROM THE PAST, BUILDING THE FUTURE