Accounting Standards

ACCA urges for ‘inclusive approach’ to economic recovery on IWD

The global trade body is calling for more governments to ensure women and men are treated equally by using Gender Responsive Budgeting

The Association of Chartered Certified Accountants (ACCA) is calling for a more “inclusive approach” to the world’s economic recovery to mark International Women’s Day (IWD).

The global trade association is urging governments to ensure women and men are treated equally, in regards to benefiting from the economic recovery, by using Gender Responsive Budgeting (GRB).

The call to action comes after recent research, published by McKinsey, revealed although women account for 39% of global employment, women have also accounted for 54% of total job losses as a result of the pandemic.

As part of GRB, government are being asked to engage with wider public institutions, offer staff training and development to assist women in management positions, and collect and analyse sex-disaggregated data to identify issues in policy.

Helen Brand, chief executive of ACCA, said: “The evidence is clear – women have suffered disproportionately as a result of the pandemic and GRB can help ensure that these inequalities are considered to ensure a more inclusive recovery.

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“To work effectively, GRB requires political commitment at the highest level, a sufficient allocation of resources and robust capacity development at all levels.”

She added: “GRB can be applied in all sectors of the economy and society including transport, health, education, employment and many more; so the better the coordination between government departments, the more widely the practice can be used.

“The role of the public sector finance professional can be seen in every stage of the cycle – from initial analysis and budget design to the invaluable role of auditing in the final stage. The accountancy profession can, and should, play a key role in ensuring policymakers commit to gender equality and use GRB as a tool of effective implementation.”

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