The International Federation of Accountants has elected Robert Bunting to assume the IFAC Presidency for a two-year term ending in November 2010.

Bunting, a former chairman of the American Institute of Certified Public Accountants and an IFAC board member since 2005, stressed several key initiatives he has planned for IFAC. “We must demonstrate that our standard-setting processes are rigorous, and we must continue to promote strong corporate governance and the highest quality practices by the world’s accountants,” he said in a written statement.

Bunting also expressed desires that the IFAC be “even more engaged with all market participants and actively collaborate with them in identifying and implementing the solutions that can prevent future crises.”

In addition, he’d also like to focus attention on the needs of small and medium practices and enterprises. “The SMP/SME community did not cause the current financial crisis, but they will be very much affected by it,” he said. “We must do what we can, including ensuring that they are not subject to overly burdensome regulatory requirements, to contribute to their health and effectiveness.”

In other news, IFAC appointed Göran Tidström of Sweden as deputy president and approved the appointment of three new members to the IFAC Board and the reappointment of four members to a second term.

Topics