1 icas is working in armenia and kazakhstan to help

1 ICAS is working in Armenia and Kazakhstan to help .... .... the profession.
2 Several institutes have been doing .. ...... work in Eastern Europe.
3 ........ nations need a strong accountancy profession.
4 Accountancy is a fast-. ....... profession.
5 There is much talk of ........ an international reputation for the qualifications that
overseas institutes offer.
II
Sentence completion
Use words and phrases from Exercises A and B to complete these sentences.
1 In the future, many accountants in developing countries will produce company accounts
which comply with ..... ... .. . ..................... .
2 Although developing countries need international help to establish the ........... .... .
in their countries, success will depend mainly on having strong local control.
3 Many ................ are working hard with these countries to develop local qualifications
with an international reputation.
4 Some countries even have a ........ of ........ for the first time.
5 It is equally important that their ........ , who are responsible for making sure that an industry or system
works legally or fairly, have a good understanding of accounting.
6 The international accountancy profession is .... .... fast.

UNIT 2
H
ESTABLISHING THE PROFESSION WORLDWIDE
iii
Word partnerships
Match the sentence halves to make sentences similar to ones in the article.
1 ICAEW is developing
2 ClMA is studying
3 CIMA is establishing
4 Finance processes are
5 The demands and pressures on the
global profession
6 ICAS is bringing Russian speakers together
7 International audit standards are
proving challenging
II
Understanding expressions
a) joint ventures with a number of overseas institutes.
b) its members and the firms they work in.
c) to discuss I FRS.
d) the accounting profession of Bangladesh.
e) being outsourced overseas to a variety of countries.
f) are increasing.
g) in developing nations.
Choose the best explanation for each phrase from the article.
1 'The main part of our growth strategy is
employer-led.'
(lines 40-41)
a) followed by employers
b) heavily influenced by employers
2 'There has been
a huge shift
in the finance function.' (lines 42-43)
a) a long working period
b) a big move
3 'Finance processes are being
outsourced .. .'
(lines 43-44)
a) carried out by another company
b) carried out by another country
4 'These are the accounting rules now accepted or in the process of being
adopted
by more
than 100 countries.' (lines 53-56)
a) used for the first time
b) changed
,
1 In the article, several UK accounting bodies are mentioned. Do an Internet search to find out what they
are doing in your country or a country you are interested in. Give a short presentation.
2 What benefits can a strong accounting profession bring to developing countries?
Think about international trade and stock markets, local economies, companies and employees.
Write a short report to explain your ideas.
11

12
This unit looks at the set of international accounting and reporting rules
which is being adopted by a large number of countries.