The International Federation of Accountants (IFAC) Professional Accountants in Business (PAIB) Committee released two proposed International Good Practice Guidance documents for public comment. The proposed guidance addresses evaluating and improving governance structures and use of costing to support effective decision making.

Governance. The newly released exposure draft, Evaluating and Improving Governance in Organizations, sets out a framework, a series of fundamental principles, practical guidance, and references on how to evaluate and improve governance in organizations. The purpose of this guidance is to assist professional accountants and their organizations in creating a balance between conformance with rules and regulations and organizational performance.

Costing. The second proposed International Good Practice Guidance document, Costing to Drive Organizational Performance, is designed to assist professional accountants in business in delivering useful cost information to support effective decision making and organizational performance. The proposed guidance sets out eight fundamental principles of costing that encourage a performancebased view of costing to help professional accountants in business to ensure that costing information supports forward-looking strategic and operational decisions.

Comments on both documents are due by Sept. 23. The documents are available at

The International Accounting Education Standards Board (IAESB), an independent standard-setting board within IFAC, released an information paper to assist IFAC member bodies and other stakeholders in developing effective continuing professional development (CPD) programs for professional accountants. Titled Approaches to Continuing Professional Development (CPD) Measurement, the paper explains the elements of an effective CPD program, examines current practices by accountancy and other professional associations and discusses approaches to measure a program’s effectiveness. The free information paper can be downloaded at the IFAC online bookstore at For more information on the IAESB’s work, visit its home page at


©2008 AICPA


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