As the global organization for the accountancy profession, IFAC is committed to protecting the public interest by developing high-quality international standards, promoting strong ethical values, encouraging quality practice, and supporting the development of all sectors of the profession around the world. To learn more about IFAC's mission and values, view the IFAC Video.
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IAASB Seeks Views: New Impact Analysis Approach and Revisions to Standard on Using the Work on Internal Auditors - With the release of the exposure draft (ED), ISA 610 (Revised), Using the Work of Internal Auditors, the IAASB is piloting an approach for analyzing the benefits and impacts of its proposals. The approach, laid out in the explanatory memorandum, provides a structured and transparent means for communicating to stakeholders the effects of proposals. For more information and to comment on both the new approach and ED, see www.iaasb.org/ExposureDrafts.php.
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Monitoring Group Issues Public Consultation Paper on its Assessment of the Effectiveness of IFAC Governance Reforms - The Group seeks input on its preliminary conclusions regarding the effectiveness of the reforms to the governance of the International Federation of Accountants (IFAC). The Monitoring Group welcomes responses to this Paper by August 15, 2010. To access the paper, see www.iosco.org/news/pdf/IOSCONEWS189.pdf
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Business Reporting Recommendations from Key Leaders - The Business Reporting Project Group has entered the final phase of the Financial Reporting Supply Chain Project having interviewed 25 key leaders on what should be done to improve corporate governance, business reporting, and auditing in the aftermath of the financial crisis. The second of a series of five articles based on these interviews is now available, including the individual interview transcripts. Readers are encouraged to read the interviews and comment on the recommendations. Comments may be submitted through a link to a brief survey found at the conclusion of each interview transcript. To access the article and transcripts, see www.ifac.org/frsc.
IFAC is comprised of 159 members and associates in 124 countries and jurisdictions, representing over 2.5 million accountants. Member bodies participate in IFAC's Member Body Compliance Program, demonstrating their commitment to promoting high quality standards for the world's accountants. Member and associate responses to Parts 1 and 2 of the Compliance Program, and action plans developed to further convergence and meet other IFAC membership requirements, have been posted to IFAC's website.
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