IFAC members and associates are required to participate in the IFAC Member Body Compliance Program to demonstrate that they are maintaining their good standing and addressing the requirements of IFAC membership. The Member Body Compliance Program is the responsibility of the IFAC Compliance Staff, reporting to the Chief Executive, and operates in accordance with agreed upon due process and working procedures. The program is overseen by the Compliance Advisory Panel, which—as one of IFAC's public interest activities—is overseen by the Public Interest Oversight Board (PIOB).
For members, the program is an opportunity to demonstrate how they are addressing the Statements of Membership Obligations (SMOs). For associates, the program helps demonstrate continuing progress toward membership. All responses and action plans from members and associates are publicly posted on IFAC’s website. The program includes three parts:
Part 1, Assessment of the Regulatory and Standard-Setting Framework Questionnaire
This questionnaire collects information about the financial reporting and auditing regulatory and standard-setting framework in the professional accountancy organization's jurisdiction and the professional accountants represented by the organization. It must be updated in accordance with the progress made by members and associates on a regular basis.
Part 2, SMO Self-Assessment Questionnaire
A self-assessment questionnaire regarding the professional accountancy organization's role and responsibilities with regard to auditing and accounting standards, accountancy education, ethics, investigation and discipline, quality assurance, and compliance with the Statements of Membership Obligations (SMOs). This must be updated regarding progress on a regular basis.
Part 3, Action Plans
Members and associates develop and annually update action plans to explain how they make progress toward or continue to uphold SMO requirements.
IFAC Member Body Compliance Program - for Members, Associates, Applicants
Part 1 and 2 of the IFAC Member Body Compliance Program use Qubus®, an electronic questionnaire tool. For your username and password, please contact IFAC Compliance staff. For guidance in using this tool, access the Qubus Tutorial or the Qubus Users Manual.
- Part 1, Assessment of the Regulatory and Standard-Setting Framework: Update or complete the Part 1 Questionnaire.
- Part 2, SMO Self-Assessment: Update or complete the Part 2 questionnaire. Please also review the Instruction Guide to Part 2.
- Part 3, Action Plans: Complete the action plan template. Please refer to the guidance notes; in addition, the process is described more fully in action plan development, monitoring, and enforcement. Guidance is also available in French, Russian, and Spanish.
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