Committee of Professional Accountants in Business (PAIB) of International Federation of Accountants (IFAC) prepared for commentaries a draft international practical manual “Eleven Principles for Effective Business Reporting Processes”.
The purpose of the manual is to show examples of best practices for increasing efficiency of a company’s reporting process. The manual will help professionals, accountants and their organizations to develop a list of successive measures that will help to improve their reporting. This in turn will make it easier for the involved internal and external parties to make necessary decisions. The manual can be used by any organization irrespective of its size and structure or whether it is public or private.
Professional accountants and their organizations can leave their commentaries about the draft manual on the website of IFAC until August 23, 2012.