To help Public Accountancy Organisations (PAO) develop coherent strategies and operating models, IFAC has released its Professional Accountancy Organisation Strategy Planning Toolkit.
This toolkit is designed for PAOs at all stages of developing a strategic plan and also offers guidance for updating and refining existing plans.
The toolkit was launched today (25 June) in Mauritius at a workshop co-hosted by IFACs PAO Development Advisory Group and the Pan African Federation of Accountants (PAFA), ahead of PAFA’s AGM. The workshop saw the participation of over 50 PAO leaders who are present for PAFA’s AGM.
IFAC CEO Lee White said: “To respond to the accountancy profession’s constantly evolving challenges and opportunities, PAOs need a strong strategic plan to be resilient, adaptive, and forward-thinking and make well-informed decisions. This toolkit, informed by our own experiences in strategic planning and the journeys of our member organisations, is made possible by our role as the global convener of the accountancy profession and contains a framework applicable around the world. We hope this toolkit can develop the process for PAOs or give new momentum and inspiration to those already engaged in it.”
Before the toolkit’s official release, several PAOs, including IFAC member associate Emirates Association for Accountants & Auditors (EAAA), trialled the toolkit to shape its development and have seen improvement in their strategic planning.
EAAA chair Saif Bin Abed said: “We are proud to be one of the first users of the toolkit while it was under development, and in only a few months, we have seen considerable improvement in our strategic planning. As an organisation, we are better prepared to act on the opportunities and challenges ahead.”
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By GlobalDataEAAA vice chair Ahmed Darwish said: “This toolkit has created an agile environment within the EAAA through its effective monitoring mechanism which enables us to respond quickly to different business variables and be able to update the strategy in a way that it promotes the sustainable growth of our organisation.”
