IFAC Conference - Global summit boosts common standards.
Delegates from around the world put disagreements behind them at the
Conference Highlights[QQ] IFAC has named Tsuguoki (Aki) Fujinuma of Japan as its president and Rene Ricol of France deputy president. They will serve a two-year term, beginning this month. Fujinuma, formerly deputy president, is a senior audit partner at Showa Ota & Co, a member of Ernst & Young International. Ricol is president of his own firm, Ricol, Lasteyrie and Associates. Tsuguoki takes over from Frank Harding. Members of IFAC this week approved a major internal restructuring in order to have a more ‘effective, efficient management structure.’ Its council has been disbanded and replaced by a board. Newly appointed IFAC president, Tsuguoki Fujinuma, said: ‘The restructuring is aimed at achieving consistency. Firms that want to be members must fulfil obligations to comply with international standards and accept quality control reviews.’ PricewaterhouseCoopers partner Graham Ward has been elected as the UK representative of the newly formed IFAC board. Ward, who is president elect of the English ICA, said the UK has a leading role to play in shaping international accounting and auditing standards. Accountancy bodies from Russia, Macedonia, the Ukraine, Albania, Finland and Kazakstan have joined IFAC, bringing its total membership to more than 150 professional groups.