To make information about its activities more accessible to a global audience, the International Federation of Accountants (IFAC) has translated core portions of its website (www.ifac.org) into Arabic, Chinese, French, Russian, and Spanish. These languages, in addition to English, which is IFAC's official language, are the official languages of the United Nations.

Translated sections of the IFAC website include the home page, information about the organization, its structure, governance and membership, as well as key information about IFAC's independent auditing, ethics, education, and public sector accounting standard-setting boards. In addition, the home pages for IFAC's resource centers for professional accountants in business and small and medium practices have been translated.

"These translations mark a major milestone in IFAC's 30-year history," states IFAC President Fermín del Valle. "If we are truly going to meet our goal of developing the accountancy profession around the world, we need to provide as many members of the profession as possible with information in their native languages. This initiative is also central to our goal of achieving convergence."

"The translations of the IFAC website involved a strong collaborative effort between IFAC and its member bodies," emphasizes IFAC CEO Ian Ball. "The assistance of our member bodies contributed substantially to the accuracy and appropriateness of the translations."

The organizations extensively involved in the translations were:

• The Chinese Institute of Certified Public Accountants (Chinese translations);
• Délégation Internationale pour l'Audit et la Comptabilité, the international arm of the Compagnie Nationale des Commissaires aux Comptes and the Conseil Supérieur de l'Ordre des Experts-Comptables (French translations);
• Instituto de Censores Jurados de Cuentas de España (Spanish translations); and
• Saudi Organization for Certified Public Accountants (Arabic translations).

Comments on IFAC's website are welcomed at any time and may be submitted online at http://www.ifac.org/Feedback/.

About IFAC
Founded in 1977, IFAC is the global organization for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. IFAC is comprised of 155 members and associates in 118 countries, representing more than 2.5 million accountants in public practice, education, government service, industry and commerce. Through its independent standard-setting boards, IFAC sets ethics, auditing and assurance, education, and public sector accounting standards. It also issues guidance to encourage high quality performance by professional accountants in business.

The International Federation of Accountants (IFAC), the World Bank and the Inter-American Development Bank undertook a significant collaborative effort last week by organizing an event in Mexico City titled Accounting and Accountability for Regional Economic Growth (Contabilidad y Responsabilidad para el Crecimiento Económico Regional or "CReCER" in Spanish). Over 450 individuals, including representatives of the accountancy profession, governments, the donor community, and academia from 27 Latin American and Caribbean countries as well as 16 other countries participated in this event.

"This conference was a landmark event for the Latin American and Caribbean region. Never before have public and private sector representatives from the accounting and auditing profession come together under one roof to discuss the issues facing the region," states IFAC President Fermín del Valle.

Participants indicated that combating poverty and developing stable economies are the two fundamental and interrelated challenges facing Latin American and Caribbean nations. Discussions focused on achieving quality financial reporting in the private and public sectors, the needs of the accountancy profession in the region, the role of the government in accountancy and accountancy development, and the importance of sustaining good governance and ethics.

"The conference resulted in a unanimous commitment by international stakeholders to support the improvement of financial reporting and to actively foster economic development in the region. We also heard a clear commitment from participants for convergence to international standards," added Mr. del Valle.

Other outcomes of the meeting included agreement on the following:

• The need for increased input from the Latin American and Caribbean region into international standard setting;
• The development of a single set of high quality Spanish translations of all international standards; and
• Collaboration among countries in the region as well as sustaining relationships with regional and international partners as a requisite for success.

IFAC's Developing Nations Committee and staff will be considering the outcomes of the conference as it advances its work program in the region. Copies of all presentations made at CReCER will be available here shortly.

Founded in 1977, IFAC is the global organization for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. IFAC is comprised of 155 members and associates in 118 countries, representing more than 2.5 million accountants in public practice, education, government service, industry and commerce. Through its independent standard-setting boards, IFAC sets international standards on ethics, auditing and assurance, education, and public sector accounting. It also issues guidance to encourage high quality performance by professional accountants in business.

Good morning ladies and gentlemen. Thank you for participating today in this regional conference for the Caribbean and Latin America on accounting and accountability for regional economic growth.

Together with the World Bank and the Inter-American Development Bank, it is our intention that this conference provide us the opportunity to identify the principal challenges and questions that the region needs to address and, above all, to permit us to identify concrete solutions and, in some cases, to consider collaborative projects that make these solutions viable or more efficient. ** Note: Attached below are the English and Spanish versions of this speech.

IFACnet, the global, multilingual search engine developed by the International Federation of Accountants (IFAC) and its members, has expanded its resources to address the needs of small and medium accounting practices (SMPs), in addition to professional accountants in business. IFACnet enables SMPs to easily locate information on a wide range of technical, marketing, human resource and other matters, including such topics as succession planning, managing a small firm, staff recruitment and retention, and promoting firm services.

IFACnet has also added three new features to help accountants worldwide stay current on technical, professional and marketplace issues and to make the search engine more user friendly. These include a "Latest News" page with links to a variety of business, management and accounting media and other websites; a search box that enables users to search IFACnet directly from their Internet browser; and a "What's News" section to inform visitors of new IFACnet features and content.

"There are many high quality resources available from within IFAC as well as through collaboration with our members that can help the global accountancy community carry out their professional responsibilities," states Ian Ball, IFAC Chief Executive Officer. "IFACnet's customized search features provide an efficient means to give professional accountants, including SMPs and professional accountants in business, in every part of the world, access to these timely and relevant resources."

Launched in October 2006, IFACnet provides one-stop access to free, high quality guidance, management tools and articles developed by professional accountancy bodies from around the world. Since its launch, IFACnet has attracted nearly 42,000 individuals from more than 190 countries worldwide. Currently, IFAC and twenty-three of its members (see attachment) provide IFACnet with access to information from their websites. In the coming months, new content will continue to be added to IFACnet as it expands the number of participating organizations.

IFACnet can be accessed free-of-charge online and on the websites of participating organizations.

IFAC is the worldwide organization for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. IFAC is comprised of 155 members and associates in 118 countries, representing more than 2.5 million accountants in public practice, education, government service, industry and commerce. Through its independent standard-setting boards, IFAC sets ethics, auditing and assurance, education, and public sector accounting standards. It also issues guidance to encourage high quality performance by professional accountants in business.

IFACNET PARTICIPATING ORGANIZATIONS
(As of March 30, 2007)

American Institute of Certified Public Accountants
Association of Chartered Certified Accountants
CGA Canada
Chartered Institute of Management Accountants
CMA Canada
Consiglio Nazionale dei Dottori Commercialisti
CPA Australia
Hong Kong Institute of Certified Public Accountants
International Federation of Accountants
Institute of Certified Public Accountants in Ireland
Institute of Certified Public Accountants of Singapore
Institute of Chartered Accountants in Australia
Institute of Chartered Accountants in England & Wales
Institute of Chartered Accountants in Ireland
Institute of Chartered Accountants of India
Institute of Chartered Accountants of Pakistan
Institute of Chartered Accountants of Scotland
Institute of Management Accountants
Japanese Institute of Certified Public Accountants
Koninklijk Nederlands Instituut van Registeraccountants
Malaysian Institute of Accountants
Malta Institute of Accountants
South African Institute of Chartered Accountants
Union of Chambers of Certified Public Accountants of Turkey

Good morning and thank you for the invitation to speak to you today. It is a pleasure to meet with staff of the World Bank, with whom we are working ever more closely on the development of the global accountancy profession. One of the reasons for our visit today is to explore with the Bank whether there are areas in which this cooperation could be extended or deepened. Our organizations share a mutual aspiration to contribute to the integral development of the countries around the world. When I speak about integral development, I refer to a development that reaches both the economic, the social and the cultural spheres.

Good morning ladies and gentlemen. It is a pleasure to be here with you for this CFO/CFO forum. I would like to thank the new President of the South Asian Federation of Accountants (SAFA), Mr. Indrajith Fernando, for his kind invitation to address you this morning.

Since its founding in 1984, SAFA has been an example of how regional integration and collaboration can help to strengthen the global profession. so that together we can more effectively contribute to the integral development around the world. When I speak about integral development, I refer to a development that reaches both the economic, the social and the cultural spheres.

Good afternoon ladies and gentlemen. It is a pleasure to be here with you today for the induction of the twenty-third President of the South Asian Federation of Accountants. I would like to congratulate Mr. Indrajith Fernando on his appointment as your new President, and I look forward to working with him in the coming year.

Thank you very much for inviting me to participate in this conference. As evidenced by the membership of the Institute of Chartered Accountants of India (ICAI), the profession here in India is continuing to grow and thrive. It mirrors, I believe, India's own growth and development.

To talk about the new era of the accountancy profession means talking about its future. It means considering the possible challenges and opportunities. Talking about the future does not necessarily imply the existence of a visible path, a well-defined road, but it does entail the need to define a destination, a goal, an objective. And it has to be a clear one.

As an organized profession, we need to know clearly where we stand and where we want to go. We need to understand our present, our current situation as professional accountants, and we need to analyze the context, so that we are able to face the future with the right understanding and the proper tools.

Thank you very much for inviting me to speak here in India. I am honored to be in the land of Mahatma Gandhi, Rabindranath Tagore, Amartya Sen, Mira Nair, Gayatri Spivak, and so many other great leaders and thinkers. Your intellectual traditions and scientific achievements, including those in mathematics, astronomy, linguistics, and medicine are remarkable and I admire your country for its support of democratic ideals. The American writer Mark Twain has called India "the cradle of the human race, the birthplace of human speech, the mother of history, the grandmother of legend, and the great grand mother of tradition."

As the largest democracy in the world, your struggles and your triumphs are an inspiration for other countries not only in your region but around the world. Your country has made much progress toward economic liberalization and global integration, and I believe that the accountancy profession has played and will continue to play a key role in these processes.

The International Federation of Accountants is proud to count the Institute of Chartered Accountants of India (ICAI) among its 155 members. As a founding member of IFAC, you have demonstrated a long-term commitment to the international accountancy profession and its role in protecting the public interest.

Thank you Walter, and ladies and gentlemen, for your warm welcome. It is my pleasure to be here today. Clearly, there is increased interest in XBRL and a growing recognition of the important role it can play in enhancing the integrity and the credibility of financial reporting and auditing. This is evidenced by the attendance here today of all of you and of the participation in this conference of leaders of the accountancy profession, the private sector and government. This historic city of Philadelphia was the site of many important events in the founding of the United States. And this week, Philadelphia again plays host to a revolution - this one, a quiet revolution in the way that we report and audit financial information.