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IFAC FOCUS AREAS
- Accountability. Now.
- Adoption of International Standards
- Developing the Global Profession
- Global Representation and Advocacy
- Professional Accountants in Business
- Small and Medium Practices
Independent Standard-Setting Boards
The International Auditing and Assurance Standards Board sets high-quality international standards for auditing, assurance, and quality control that strengthen public confidence in the global profession.
The International Accounting Education Standards Board establishes standards, in the area of professional accounting education, that prescribe technical competence and professional skills, values, ethics, and attitudes.
The International Ethics Standards Board for Accountants sets high-quality, internationally appropriate ethics standards for professional accountants, including auditor independence requirements.
The International Public Sector Accounting Standards Board develops standards, guidance, and resources for use by public sector entities around the world for preparation of general purpose financial statements.
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Audit & Assurance
Accounting firms offer a wide range of professional services to their clients, including audit, review, other assurance, and related services. These services are regulated, with many jurisdictions requiring compliance with international standards or national requirements that have been based on international ones. High-quality international standards increase the comparability, consistency, clarity, credibility, and transparency of financial information. And, high-quality financial information, in turn, increases the stability of the global financial infrastructure. Read More
by Joseph F. Brazel, Professor of Accounting and University Faculty Scholar, North Carolina State University and Tammie Schaefer, Assistant Professor of Accounting at the University of Missouri, Kansas City | October 31, 2016 |
This three-part series summarizes academic research in the area of auditor professional skepticism and identifies key observations in the areas of incentives, time, mindset, environmental and contextual factors, and personality traits. Read More
The Adventure of Standard Setting: Reflections from a Chairman
by Prof. Arnold Schilder, Chairman, International Auditing and Assurance Standards Board | October 26, 2016 |
Following its recent meeting in Hong Kong, the Chairman of the International Auditing and Assurance Standards Board explains how he approaches each meeting. Read More
IAASB Releases Working Group Paper on Supporting Credibility and Trust in Emerging Forms of External Reporting: Ten Key Challenges for Assurance Engagements
by Brett James, Senior Principal, International Auditing and Assurance Standards Board | September 19, 2016 |
To further the global debate on external reporting and enhance assurance quality, the IAASB requests input on its Discussion Paper, which explores the various professional services, including assurance engagements, being performed in accordance with the IAASB’s standards, by Feb. 3, 2017. Read More
Supporting Credibility and Trust in Emerging Forms of External Reporting
by Nancy Kamp, Deputy Director, International Auditing and Assurance Standards Board | September 19, 2016 |
A new Discussion Paper from the International Auditing and Assurance Standards Board’s Integrated Reporting Working Group addresses the challenges of integrated reporting and other forms of external reporting. Read More
Questions about Accounting or Auditing on the Ground in Jurisdictions? Our New Interactive Content Can Help
by Joseph Bryson, Deputy Director, Quality and Membership | September 12, 2016 |
The new interactive section of the IFAC website features comprehensive profiles of member organizations and the jurisdictions in which they operate—including the status of international standards. Read More
- 2015 Handbook of International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements
December 4, 2015 - International Auditing and Assurance Standards Board
- Guide to Review Engagements
December 10, 2013 - IFAC
- Guide to Using International Standards on Auditing in the Audits of Small- and Medium-Sized Entities, Third Edition
November 9, 2011 - IFAC
- Guide to Quality Control for Small- and Medium-Sized Practices, Third Edition
July 31, 2011 - IFAC