The ways in which professional accountants can help small and medium enterprises (SMEs) during the economic downturn were discussed at a conference hosted by the International Federation of Accountants (IFAC) in New York last week.
Accountants from all over the world gathered to consider various plans for the future, and how accountants can help businesses through the credit crisis.
Board members particularly discussed how SMEs could benefit from professional accountants and introduced a process which invites IFAC members, regional accountancy organisations and professional accountants to provide their input on the matter.
IFAC president Robert Bunting said: "There was broad agreement that now, more than ever, our profession must be unified in our approach to addressing economic issues. IFAC is working closely with its member organizations to determine the best way forward in addressing matters related to the crisis."
The accountancy body recently released a guidance document, entitled Evaluating and Improving Corporate Governance in Organizations, which will help professional accountants improve the structures of their businesses.
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