Standard Chartered CEO Rughani appointed chair of PAIBC

Tuesday June 23 2020



Standard Chartered Bank's CEO Sanjay Rughani

Standard Chartered Bank's CEO Sanjay Rughani 

The Citizen Reporter
By The Citizen Reporter
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Dar es Salaam. Standard Chartered Bank’s CEO, Sanjay Rughani, has been appointed as the chair of the Professional Accountants in Business Committee, PAIBC, for the International Federation of Accountants, IFAC.
Mr. Rughani, becomes the first Tanzanian and leader from the continent to be appointed to the helm of the PAIBC, he will hold the post for an initial term of three-years.
Speaking on Mr Rughani’s appointment, IFAC’s CEO, Kevin Dancey, thanked him for having agreed to lead the PAIBC which is a very critical forum to drive the profession forward.
“Sanjay is a globally-respected leader, and an asset to the global accountancy profession. In his role as committee chair, he will lead discussions on the role of accounting and finance professionals in today’s rapidly evolving world. With his leadership, the PAIBC will continue to provide guidance, best practices, and new thinking to help accountants navigate challenges and identify emerging opportunities in their diverse roles within organizations.” Mr. Dancey said.
On his part Mr. Rughani thanked the CEO of IFAC, Mr. Dancey, and the rest of IFAC’s leadership team including members of the committee for having entrusted him to steer the advisory group.
“I thank the IFAC Leadership for having appointed me to be the Chair of the PAIBC. I am indeed grateful for the opportunity to play a role to lead the committee which makes significant contributions to sustain and elevate one of the world’s truly honorable profession. Accounting is my passion, I take pride in being able to contribute to this global profession which is bound by a firm commitment of professional standards and ethics,” Mr Rughani said.
He added: As is the case for many other professions, accountancy is also seeking more significant relevance and ability to meet the expectations of our stakeholders in an ever-changing world. I am confident that through IFAC and the advisory group we will continue to exploit opportunities and collaboratively confront the challenges that continue to come our way.
According to a statement issued by the Bank, the International Federation of Accountants, 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.
It comprises of more than 175 members and associates in more than 130 countries and jurisdictions, representing more than 3 million accountants in public practice, education, government service, industry, and commerce.
Founded in October, 1977, the IFAC organization seeks to achieve three strategic objectives which include speaking out and engaging as the voice for the global profession, leading and developing a future-ready profession; and promoting the development, adoption and implementation of high-quality international standards for accountants.
To enable the IFAC organization perform its duties and meet its targets, the Professional Accountants in Business Committee, PAIBC, which is an Advisory Group of professional accountants with extensive and diverse experiences, was started.
The PAIBC considers key global trends in the context of the issues facing Chief Financial Officers and Finance Functions, as well as Boards and their Audit Committees.
Having been nominated to the committee in 2015 through the Association of Chartered Certified Accountants, ACCA, Mr. Rughani’s contribution to the Committee has been significant ranging from challenging the status quo of the Accounting profession and creating awareness on the future of accounting. Mr. Rughani also mentors and coaches a number of young accountants and encourages the ‘Girl Child’ to study Accounting.