Canada and FIDEF 

International

Canada and FIDEF

Montreal’s Jean Précourt, FCGA, and a past chair of CGA-Canada is the first Canadian president of the Fédération internationale des experts-comptables francophones since the organization’s founding in 1981.

FROM: JAN-FEB 2007 ISSUE

In October 2006, Jean Précourt became the first Canadian — and North American — to assume the role of president of the Fédération internationale des experts-comptables francophones (FIDEF). With an intrinsic understanding of the global nuances of francophone business and culture, Précourt shares his priorities for FIDEF, discusses the issues facing francophone accounting bodies, and details the global role he sees for Canada — and its francophone accountants.

CGA Magazine: What experience, strengths, and values do you bring to this leadership position?

Précourt: For the first time, FIDEF has a Canadian president. Canadian culture is different from the culture of other FIDEF members. FIDEF members share one language, but when it comes to culture, it is a different matter. In Canada, for instance, bilingualism has had a major influence on the rich artistic and cultural environment, if you compare our country to, say, France. Moreover, the fact that Canada has two official languages has also provided the country with economic benefits in a global market.

Canada was one of the first countries to promote the Francophonie by actively participating in the creation and development of its institutions. Member countries are very happy to have Canada as a partner to share its experience and knowledge. We must remember that our neighbour to the south exerts considerable influence over Canada, and that the United States continues to play a leadership role in the areas of governance, auditing, and accounting standards. We are therefore contributing by sharing our concerns.

CGA Magazine: What is FIDEF’s mandate?

Précourt: FIDEF is a forum for dialogue and cooperation in the francophone community, and its activities focus on three main objectives:

1. Ensuring the recognition and authority of francophone accounting professionals at the national level by institutionalizing the profession; at the regional level by establishing professional bodies within public regional organizations; and at the international level by having members join IFAC (International Federation of Accountants).
2. Promoting the francophone accounting culture while taking into account international developments.
3. Ensuring that professionals have a standard level of technical competency recognized at the international level and appropriate for the economic needs of their countries.

CGA Magazine: Who are FIDEF’s members?

Précourt: FIDEF’s active members include societies, associations, and institutes that represent public accountants in their countries. In 2005, there were 28 active members from countries in Africa, Europe, the Middle East, Southeast Asia, and North America. There were also nine associate members including educational institutes, accounting standards institutes, institutes in the process of being created, as well as the Organisation arabe des experts-comptables (Arab organization of public accountants).

CGA Magazine: Can you describe FIDEF’s major accomplishments to date?

Précourt: FIDEF’s major accomplishments include translating the international auditing and accounting standards, supporting several member countries’ quality control activities, and providing assistance and coaching to help establish association headquarters in some of the member countries. We have also attended symposiums on the rules of governance and the impact of new legislation such as the Sarbanes-Oxley Act and Bill 198, and I have spoken at events in Mali, Tunisia, and Morocco.

CGA Magazine: What are some of the key issues currently facing francophone professional accounting bodies?

Précourt: All in all, the issues facing member countries are not really different from those facing Canadians. They include ethics, the IFAC auditing standards, the international financial reporting standards (IFRS), and the application of IFRS in small and medium-sized businesses.

CGA Magazine: Do francophone developing nations face different issues than their counterparts?

Précourt: The issues are very similar; however, timely translation and updating of standards are paramount.

CGA Magazine: Can you outline a few of the main priorities you will be focusing on during your tenure as president of FIDEF?

Précourt: My priorities are to provide training on new standards for public accountants of member countries, to train future members in accordance with IFAC criteria and international accounting standards, and to ensure compliance with the IFAC Code of Ethics.

CGA Magazine: What role can Canada play in promoting the interests of francophone professional accounting bodies at both the national and international levels?

Précourt: Canada is an open-minded country that is willing to contribute to the evolution of FIDEF member countries. Canada can play a role in education — CGA-Canada is recognized throughout the world for accounting education, particularly for its program based on international accounting standards.

CGA Magazine: What is FIDEF’s relationship with other international accounting organizations such as IFAC?

Précourt: As an international institution, FIDEF shows its commitment on the international scene by participating actively in different organizations: it is an affiliate member of IFAC, an observer member of the Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting (ISAR) of the United Nations, and a board member of the Fédération des experts-comptables méditerranéens (FCM — federation of Mediterranean public accountants).

FIDEF contributes to the dialogue on the progress of the Treaty on the Harmonisation of Business Law in Africa, signed by the 16 countries that make up the Organisation pour l’harmonisation en Afrique du droit des affaires (OHADA — organization for the harmonization of business law in Africa). FIDEF is also a member of the Conference of International Non-Governmental Organizations (accredited by the International Organization of the Francophonie), in accordance with the provisions of the Francophonie charter.

One of our board members is on the Standards Advisory Council of the International Accounting Standards Committee Foundation. The Council represents approximately 35 member countries and is responsible for setting priorities and providing advice on the consequences of measures planned by the International Accounting Standards Board (IASB). This Council meets every year for three to four days in London.

CGA Magazine: Many countries are converting to international standards. What does this entail for francophone professional accounting bodies?

Précourt: They must join the parade if they want to carry out engagements for the World Bank and international corporations, as well as support local businesses who wish to export their goods or establish foreign operations. It is a question of survival for them.

CGA Magazine: In a global context, what do you believe are the potential opportunities for francophone accountants?

Précourt: The opportunities for francophone accountants are considerable since almost all public accountants who are FIDEF members speak at least two languages, and sometimes three, which represents a marked advantage in the global economy.

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