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World a better place – thanks to accountants

It’s official: accountants make the world a better place.



January 2016

A new study by the global body for the profession, the International Federation of Accountants (IFAC), has found accountancy and the number of accountants in a country is strongly linked to prosperity and improved living standards. In fact, IFAC has estimated that the profession contributes $575bn annually to the global economy.
Research found there is a strong correlation between the number of accountants working in economies with GDP per capita. There is an even stronger correlation with the UN Human Development index, which measures life expectancy, years of schooling and income.
IFAC CEO Faye Choudhury explained that professional accountants contribute to stability and growth through better information, reporting, measurement and decision-making. This is decisively linked to improving living standards and the wealth and prosperity of nations and their citizens. He added: “When nations have a robust system to track the flow of money in government, within businesses and between organisations, transparency and accountability are improved, organisations are strengthened and economies are enhanced.”
• For more take a look at ‘Nexus 2: The Accountancy Profession – A Global Value Add’, a study conducted by the independent Centre for Economics and Business Research.

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