Fi­nan­cial ex­perts pro­pose new ac­count­ing method

Daily Trust - - NEWS - By Daniel Adugbo

The Char­tered In­sti­tute of Man­age­ment Ac­coun­tants (CIMA) and the Amer­i­can In­sti­tute of Cer­ti­fied Pub­lic Ac­coun­tants (AICPAs) have pro­posed a new frame­work to bring con­sis­tency to man­age­ment ac­count­ing prac­tices around the world.

The move will help or­gan­i­sa­tions to make smarter, faster de­ci­sions for the long-term amidst grow­ing com­plex­ity and change, CIMA Re­gional Di­rec­tor for Africa, Samantha Louis said in a state­ment.

The draft frame­work, en­ti­tled: “Global Man­age­ment Ac­count­ing Prin­ci­ples: Driv­ing bet­ter busi­ness through im­proved per­for­mance,” is now out for con­sul­ta­tion with feed­back sought from businesses and in­sti­tu­tions across the world.

Chair­man of the In­ter­na­tional In­te­grated Reporting Coun­cil Prof. Mervyn King said: “Over the last few years, we’ve all seen how glob­al­i­sa­tion and the break-neck pace of tech­no­log­i­cal progress are mak­ing change harder to pre­dict and or­gan­i­sa­tions more vul­ner­a­ble. While we may be see­ing en­cour­ag­ing signs in the global econ­omy, we can­not af­ford to be com­pla­cent.

Newspapers in English

Newspapers from Nigeria

© PressReader. All rights reserved.