The speed and magnitude of change in the world continues to accelerate. Companies that were once leaders in their sector, have suffered massive declines in value and sector status. Whole industries, have seen massive business model shifts with the arrival of game changing companies. Most recently, customer feedback from multiple sources is strongly signalling that enterprise risk management (ERM) and internal audit need to radically change their core business models or risk similar fates. Accountants serving as board directors, CEOs, CFOs, controllers, and chief audit executives need to play lead roles driving radical change to better meet the needs of their companies and boards.

PSASB Issues Consultation Paper on Financial Reporting for Heritage in the Public Sector (Excerpts) Why has the IPSASB issued this Consultation Paper? The IPSASB aims to improve financial reporting for heritage in the public sector, by considering the type of information that should be reported about heritage items and heritagerelated responsibilities, including approaches to their recognition and measurement