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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.
|Global Knowledge Gateway||
To help improve the management and operational efficiency of practices, especially small- and medium-sized accountancy practices (SMPs), this area is intended to help those managing practices to address opportunities and challenges; improve their competitiveness, profitability, and sustainability; enhance their expertise, competence, and efficiency; create an environment conducive to the provision of high-quality services; and showcase global best practices and latest practice management techniques. Read More
The acquisition of new clients continues to be a dominant driver of profitability for small- and medium-sized practices (SMPs), according to recent poll results. These results seem to question is the wisdom of many practice management “gurus” who say that the cost of acquiring a new client is far higher than the cost of retaining, or selling more services to, an existing client. While the poll shows that retention is also important, what those “gurus” may be failing to recognize is the full potential and cost effectiveness of a marketing campaign that includes low-cost social media. Read More
Small- and medium-sized entities (SMEs) might think that sustainability is only relevant to large companies—that for a small business, the administrative and financial costs outweigh the benefits. Moreover their accountants will tell you it is a hard sell getting SMEs to embrace sustainability. However, SMEs that integrate sustainability into their core business strategy can benefit from lower costs, reduced risk, and new opportunities. And their accountants, typically operating in small- and medium-sized practices (SMPs), can play a key role in their journey. Read More
- Guide to Practice Management for Small- and Medium-Sized Practices, Third Edition
December 13, 2012 - IFAC