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.
|Global Knowledge Gateway||
High-quality business reporting is at the heart of strong and sustainable organizations, financial markets, and economies. It allows organizations to present a cohesive explanation of their business and helps them engage with internal and external stakeholders, including customers, employees, shareholders, creditors, and regulators, while also promoting better internal decision making. Professional accountants are integral to all phases of organizational reporting. See the full overview.
by Stathis Gould, Head of Professional Accountants in Business and Integrated Reporting, IFAC | June 6, 2017
IFAC recently issued a policy position on integrated reporting highlighting the need for a single report providing a fuller picture of an organization’s ability to create value over time, and greater interconnectedness between different reports.
There are 141 articles
Raising the Quality Bar in Financial Reporting: The Singapore JourneyThis year, Singapore celebrates its golden jubilee. Fifty years ago, the lack of a hinterland, a weak economy, and an unskilled labor force made the nation’s survival tenuous.
by Kenneth Yap, Chief Executive, Accounting and Corporate Regulatory Authority | November 3, 2015
Inside the IFRS Framework: Differentiating Impairment Losses from ProvisionsA look at what distinguishes impairment losses from provisions under IFRS and a suggestion: many preparers are failing to recognize this distinction.
by Ricardo Julio Rodil, International Liaison Partner, Baker Tilly Brazil | November 2, 2015
The Never Ending Story of Prudence and IFRSThe recently issued Exposure Draft, Conceptual Framework for Financial Reporting, from the IASB includes reintroducing prudence as cautious prudence, but it can be argued that asymmetric prudence is also a necessary characteristic of useful...
by Alfred Wagenhofer, Professor and Director, Center for Accounting Research, University of Graz, Austria | October 13, 2015
Reporting on Banks’ Regulatory Capital: A Role for Auditors?Some of the most fundamental indicators of the strength and resilience of banks are reported outside of their financial statements. The Institute of Chartered Accountants in England and Wales (ICAEW) believes that
by Michael Izza, FCA, Chief Executive, ICAEW and Megan Zietsman, IAASB Member and Chair of the Group Audits and the Enhancements Working Groups | October 6, 2015
Improving Public Sector Financial Management: The Eight Key Elements of PFM SuccessIn a video, the Confederation of Asian and Pacific Accountants’ Chief Executive discusses the organization’s new guide to help professional accounting organizations engage with their governments to assess and improve successful public sector...
by Brian Blood, Chief Executive, Confederation of Asian and Pacific Accountants | October 5, 2015
News and Resources
There are 2010 news/resources
PCAOB Making Strides in Restoring Public Trust
Accounting Web - December 13, 2016
Business Model Reporting
Financial Reporting Council - December 13, 2016
Will Brexit, Trump Affect Global Accounting Standards?
Journal of Accountancy - December 12, 2016
Brexit Could Cost £12bn a Year to UK Economy, OBR Chair Says
Economia - December 1, 2016
IFRS Foundation Reduces Size of IASB
Accounting Today - December 1, 2016
Financial Management Progress ‘Frustrated by Multiple Systems and Lack of Capacity’
Public Finance International - November 28, 2016
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