March 11, 2012
From: Anthony Martin Hegarty, Chief Financial Management Officer, OPCFM
The inaugural meeting of the IFAC-Donors MOU Steering Committee was hosted by the Institute of Chartered Accountants of India and the Institute of Cost Accountants of India on Feb. 22, 2012. Several participants representing IFAC, Professional Accounting Organizations (PAOs) and Donor agencies attended the meeting (please refer to the attached draft minutes).
As you are aware, the MOU's objective is to optimize the joint efforts of its signatories in enhancing the capacity of the accountancy profession in emerging and developing countries. Rich discussions were held on this nascent initiative, with a focus on the important role that the accountancy profession can play in development through strengthening financial management practices in the public and private sectors. The meeting also presented an opportunity to learn about India's and other experiences in collaborative PAO-to-PAO mentoring programs.
Agreements were reached to:
- Establish interim operating arrangements for leadership and secretariat of the MOU's Steering Committee.
- Development of a global report to identify key challenges, success factors and proposed activities for enhancing the development of PAOs at both the regional and national level, as well as insight as to current funding levels and Donor community technical assistance projects, building upon information collected through IFAC's PAO Development Committee Regional Collaboration Program, IFAC's Member Body Compliance Program and the ROSC A and A Program.
- Preparation of a work program for the partnership.
Attached are the meeting's draft minutes and presentations.