Founding

The International Federation of Accountants was founded on October 7, 1977, in Munich, Germany, at the 11th World Congress of Accountants.

IFAC was established to strengthen the worldwide accountancy profession in the public interest by:

• Developing high-quality international standards in auditing and assurance, public sector accounting, ethics, and education for professional accountants and supporting their adoption and use;
• Facilitating collaboration and cooperation among its member bodies;
• Collaborating and cooperating with other international organizations; and
• Serving as the international spokesperson for the accountancy profession.

At the first meeting of the IFAC Assembly and Council in October 1977, a 12-point work program was developed to guide IFAC committees and staff through the first five years of activities. Many elements of this work program are still relevant today.

Beginning with 63 founding members from 51 countries in 1977, IFAC's membership has grown to now include 173 members and associates in 129 countries and jurisdictions worldwide.*

Past Presidents

IFAC is led by its President, who is nominated by a member body and appointed by the IFAC Council. The following individuals have served as President of IFAC:

1. Reinhard Goerdeler, Germany (1977–1980)
2. Gordon Cowperthwaite, Canada 1980–1982)
3. Washington SyCip, Philippines (1982–1985)
4. Robert May, United States (1985–1987)
5. Richard Wilkes, United Kingdom (1987–1990) 
6. Bertil Edlund, Sweden (1990–1992)
7. Peter Agars, Australia (1992–1995)
8. Juan Herrera, Dominican Republic (1995–1997)
9. Frank Harding, United Kingdom (1997–2000)
10. Tsuguoki Fujinuma, Japan (2000–2002)
11. René Ricol, France (2002–2004)
12. Graham Ward, United Kingdom (2004–2006)
13. Fermín del Valle, Argentina (2006–2008)
14. Robert Bunting, United States (2008–2010)
15. Göran Tidström, Sweden (2010-2012)

IFAC's current President is Warren Allen, who will serve as President until November 2014.

IFAC Boards & Committees

IFAC has established a number of boards and committees to develop international standards and guidance and to focus on specific sectors of the profession:

*As of November 15, 2012