By Fausto Cosi, IAFEI Vice Chairman and ANDAF President

Goodbye Romano, we will miss you.

Romano Guelmani passed away on December 27 last year, after a short and unforgiving illness.

His great personality has left us a memory of an excellent professional and dear friend. Those who had the pleasure to meet him, remember a proper gentleman, educated, and open , a “Milanese”, proud of his roots.

He was 74, still very active and always seeking new challenges…

A few months ago, we lost Romano Guelmani, a dear friend and ANDAF’s guiding hand. We profoundly miss him. We are sure that his example and the values that he advocated will serve as a continuing guidepost for the future of our Association. Several national and international initiatives have paid tribute to him. read more}

SAVE THE DATE: 14-16 October 2015

45TH IAFEI WORLD CONGRESS
Palazzo Mezzanotte, Milan, Italy

Note: Delegates who may require letters of invitation for visa purposes are encouraged to inform their respective institutes or the IAFEI Secretariat.

China: An Upside Down Investment Bank

From the International Treasury Committee
Contributor: Dominique Chesneau

The capital account of China is amazing. Simply put, China has extremely surplus capital account, linked to its export success. It holds assets abroad for an amount of almost $6 Trillion in 2013 (trillion, not billion! is three times the French GDP) while its liabilities, i.e. assets held by a foreigner on China are $4 Trillion. read more}

CFO as Technology Evangelist

by Reynaldo C. Lugtu Jr

As the new platform for business enablement – social media, big data, cloud, and mobility – proliferates and becomes mainstream among the different LOBs, there is a need to manage various investments in these areas to make sure that the enterprise maximizes the opportunities and benefits they bring. The CFO’s role becomes critical and as important as ever in shepherding the business when evaluating, investing into, and adopting these new technologies. read more}

New Thought Paper Released by IFAC Tears Down the Risk Management Silo
7 May 2015, IFAC Press Releases/News Alerts

With the increased volatility in the modern business environment and continuing effects of the financial and economic crises, effective management of risk in organizations—including good internal control—has taken on even greater importance. Effective management of risk helps organizations achieve their objectives, while complying with legal, regulatory, and societal expectations, and enables them to better respond and adapt to surprises and disruptions.

With these key issues in mind, the International Federation of Accountants® (IFAC®) today published a thought paper, From Bolt-on to Built-in, on managing risk as an integral part of managing an organization. read more}

Creating Value through Governance: Channelling Corporate Culture and Ethics in Boards

6 May 2015, Association of Chartered Certified Accountants (ACCA)

We have reached the limit of what we can deliver through regulation - we need to restore trust in business and to create value by giving more emphasis to corporate culture - Corporate culture is indeed rising up the agenda but we need the right tools to better understand it, and embed it at each level of the company

These were the main conclusions of a conference recently hosted by Cora van Nieuwenhuizen, MEP, jointly organised by ACCA (the Association of Chartered Certified Accountants) and ecoDa (the European Confederation of Directors’ Associations) at the European Parliament in Brussels read more}