IFAC President Asmaa Resmouki's Remarks at the World Congress of Accountants Closing Ceremony

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Ladies and gentlemen,

My name is Asmaa Resmouki, and I am the incoming president of IFAC.

It is an honor to join my distinguished colleagues at ICAI and Deputy Chief Minister Mr. Devendra Fadnavis at this Closing Ceremony.

First and foremost, I want to thank our host, ICAI, for making this Congress a fantastic success. The global profession has received a gracious welcome and tremendous hospitality in India. We have had unparalleled opportunities to make and deepen connections that span the globe – and which are certain to strengthen the international collaboration that our profession is known for.

The timely, diverse, and truly global programme has brought together government leaders, business leaders, standard setters, economists, and many other stakeholders. Each of our participants enriched the discussion of the Congress theme, “Building Trust, Enabling Sustainability,” in different ways – reflecting the wide range of issues and perspectives that are shaping our future.

I want to highlight six important themes of our discussion – taken from each of our six plenary sessions.

First, the accountancy profession as a trusted partner in sustainability and society.

Trust – which takes years to build but can be lost in seconds – is in short supply. The question for our profession is how we can help to rebuild and maintain trust across society. We are a public interest profession with a history stretching back well over 100 years, with the mandate, the skills, and the strong reputation to do exactly this. Our profession needs to speak out, speak up and lead on trust across the public sector and among all organizations, including businesses.

Second, building an effective ecosystem for high-quality sustainability disclosure.

There is no question that we are the right professionals to lead the way on reporting and assuring sustainability information. But our profession cannot do this alone. These efforts require a well-functioning ecosystem of corporate governance. We must work closely with other stakeholders to ensure that sustainability disclosures are high-quality – and to advance the comprehensive, global baseline of standards set by the International Sustainability Standards Board.

 

Third, the accountancy profession as partner in nation building.

Strengthening governance through capacity-building is among the most important initiatives of IFAC and the global profession. A strong accountancy profession is a pillar of prosperity, and an instrumental partner in the basic functions of government, including PFM. As professionals, we bring greater transparency and integrity to public finances. As servants of the public interest, we advocate for policies that create a better world through better outcomes.

Fourth, navigating the global economic recovery.

The only certainty is uncertainty. But as much as possible, we need to use what we observe now to make informed decisions that build resilience into foundational systems and institutions. This applies to our role in the public sector, where programmes for recovery must not prioritize short-term recovery over long-term sustainability. And it applies to our roles within businesses and as their trusted advisors.

Fifth, enhancing trust and confidence in sustainability information.

A comprehensive picture of enterprise value – one that encompasses both financial and non-financial information – is complete and comprehensive only with high-quality, transparent, consistent, and trustworthy information. As sustainability reporting becomes standard practice around the world, investors, regulators, and policymakers are, as you would expect, turning their attention to the assurance of such information. It is crucial that non-financial information receive the same level of attention as financial information. And it is in the public interest that our profession, with our public oversight and International Code of Ethics, take the lead.

And sixth, championing an integrated mindset.

Amid overlapping global crises and significant uncertainty, nobody knows how the future will unfold. But we can say that sustainable value creation will require businesses to think, measure, manage and report in a more integrated manner. Professional accountants can enable this transformation by leveraging their skills to champion an integrated mindset that connects financial and sustainability data, processes, and analyses.

In summary, these six plenary sessions, and every other session of this Congress, highlight our role as a force for good in the world. And our work has never been more important.

I want to leave you with a call-to-action about the future of our profession. Young people are our future – and they are demanding that their employers include sustainability in their core mission. As we have seen this week, the accountancy profession is undoubtedly committed to this cause. Make the case – spread the word – that our profession is a home for people with purpose.

I commend ICAI again for making this Congress possible. “Incredible India” has done a great service to the accountancy profession.

And I thank every participant in this Congress for their contributions to advancing the accountancy profession in the public interest. It is inspiring to see how many people have seized this opportunity to engage with their PAOs, with IFAC, with their colleagues around the world, and with the most important issues of our time.

Thank you.

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