IFAC's structure and governance are designed to promote transparency, to facilitate collaboration with members and consultation with stakeholders, and to ensure the effective operations of the organization. Founded in 1977, IFAC is a Swiss-registered association whose members are professional accountancy organizations.
Ultimate governance of IFAC rests with the IFAC Council, which comprises one representative from each member. The Council usually meets once a year and is responsible for deciding constitutional and strategic matters and electing the Board.
Overall direction and administration is provided by the IFAC Secretariat headquartered in New York. IFAC is staffed by accounting professionals from around the world. For an update on IFAC's operations and activities, view the 2014 IFAC Annual Review.