The mission of the International Federation of Accountant

April 23, 2019 0 Comment

The mission of the International Federation of Accountant (IFAC) is to strengthen the worldwide accountancy profession and contribute to the development of strong international economies by establishing and promoting high quality professional standards. Professional Accountants are required to follow the code of ethics and apply conceptual framework to identify the fundamental principles.
They play a very crucial role in any organisation and they simply work on figures and financial statements to provide a report on the status of the business, they analyse profits and losses for the business and to make healthy decision.
However there have been times, where these accountants fail to perform their role without integrity, professional due diligence and care and confidentiality. There professional behaviour in accordance to the code of ethics is simply not justifiable.
Accountant main focus in any organisation is to make money and minimise cost for the organisation. Therefore, in times and situation there have been situations where they have supported, child labour, they have supported compulsory and forced labour, have discriminated workers especially the women, and have put workers in the situation where they are not able to make a decision for themselves or their benefit.
According the Scandura in the year 1993, he elaborated that public accounting was a male dominated field. Later as the year went pass, women became educated and started to join the workforce and became accountants. Women then were discriminated due there gender and was often paid less compared to the men despite same qualification and the same job description. The Accountant were not happy to pay the Maternity leave and often gave excuse that women would not be able to multitask and handle the work and household responsibility. Many women are choosing to leave because they have no other choice possibly due to discrimination, biological roles and general lack of advancement in the organization. The public accounting profession, but mostly the CPA firms themselves, needs to try to become even more supportive of the female CPA. There are organizations that are being put into place that provide programs and services that are designed to help women achieve upper level management positions and leadership positions during their career (AICPA, 2017).
Accountant’s behaviour towards the child labour, forced and compulsory labour and not providing free collective bargaining for the workers, all are being encouraged because since accountants work on figures and have the responsibility to minimise cost. They would hire child labour since they would not have to pay the wages and could have the productivity to continue and make profits when compared to paying the seniors with experience. An example of this would using child labour to make soccer balls. Soccer Balls usually are symbol of our children’s childhood. They start to play and pay attention to all sorts of games out soccer balls and this not the just the boys but young girls as well. However, in some countries, they are being made by children, who are forced to work and due to this responsibility on their young shoulder, their lives are snatched away from them.
Moreover, similar situation applies to forced labour. This type of pressure arises on the seasonal workers or the foreigners who need to work to survive in an unknown country. They are paid less and sometimes not paid the full hours of work. Companies who hire them do not wish to pay them the overtime, meal or travelling allowances