INTHEBLACK June 2026 - Magazine - Page 7
5 QUESTIONS WITH
JEAN BOUQUOT
As president of the International Federation of Accountants (IFAC), Jean Bouquot is focused
on strengthening trust, advancing sustainability reporting and supporting a future-ready
profession. Here, Bouquot reflects on the evolving role of accountants, the importance
of global standards and the opportunities ahead.
Photography Anthony Geernaert
1. You have visited more than 35 countries in your first
year as IFAC president. What has that told you about
where the global accounting profession stands right now?
It has been a privilege to speak with people from so many
different countries and cultures. The thing that stands out
is the way professionals are working together to solve
problems. Accountants are engaging on so many different
topics and are facing issues they probably have not faced
before, such as artificial intelligence (AI), so the ability
of the profession to come together and collaborate
has been a standout for me. The expectations are high
for accountants, and a lot is being demanded of them.
Professionals are always stronger when they work
together to set a higher standard, and it has been
wonderful to witness that around the world.
2. AI is reshaping what accountants do every day.
What opportunities does this create for the profession?
Since I began my role at IFAC in November 2024,
the narrative on AI has changed from one of fear to one
of opportunity. At that time, the discussions were about
the threat AI poses to the profession and the possibility
that it might take jobs. Now, the accountants and CFOs
I speak to view it more as a tool, and the challenge
is to harness that tool as effectively as possible.
Of course, that opportunity comes with an element
of risk, and professionals need to mitigate things like
cybersecurity threats and data errors by placing
as much emphasis on governance as possible in the
transition to new technologies. Transparency, scepticism
and judgement remain key.
3. Australia has a strong and longstanding relationship
with IFAC, and CPA Australia is proud to play an active
role within the global federation. How important is it
to IFAC that regional voices — particularly from the
Asia-Pacific region — are reflected in the way the global
profession develops and evolves?
IFAC is an association of members, and without those
members we would not exist. CPA Australia is not only
a founding member of IFAC, but it has been around
a lot longer than us — CPA Australia was 91 years old
when IFAC started, so it is wonderful that we have
been able to work with an association with that kind
of experience and such a wonderful legacy. As such,
the voices of CPA Australia and other regional members
of IFAC are incredibly important, both to us and to
the profession more broadly.
4. You have spoken about trust as the profession’s most
fundamental asset. What gives you confidence that
accountants are well placed to sustain and build on
that trust in the years ahead?
Building and maintaining trust is a never-ending process.
It is a career-long objective and one that starts during
the early education phase of a career, when the
foundations and principles are being ingrained. Trust is
fragile and it can never be taken for granted.
Fortunately, there seems to be widespread appreciation
for the value of trust and all the things that underpin it,
such as ethics and integrity. When I have discussions
in different regions across the world, there is a belief
that without trust the profession has no foundation.
Trust defines and distinguishes us as a profession.
5. You spent 44 years as an auditor before stepping into
global leadership. What do you wish you had understood
earlier in your career that you know now?
As I have gotten older, I have gained more of an
appreciation for the impact of the profession and just
how much it means to businesses and economies around
the world. Whether it is public sector or private enterprise,
whether it is a role in tax, audit or reporting, the work
that accountants do is fundamental to functional,
developed societies.
Working in the industry so long, then having the
opportunity to visit, listen and share with professionals
in so many corners of the world has convinced me just
how important accountants are. Accountants should
be proud of their role in society and in the economy. ■
intheblack.cpaaustralia.com.au 7
