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IFAC FOCUS AREAS
- Accountability. Now.
- 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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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
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This article provides practical insights on doing so, including how to gain support from those who are resistant to change.
11 ways to protect your practice from liability.
Uncovering the multiple ways that your firm is vulnerable to liability claims.
Businesses are increasingly at risk of being compromised by cyber attacks. Take steps now to mitigate these risks.
The loss of potential clients isn’t the only thing entrepreneurial accountants should be wary of.
Firm leaders weigh many considerations during the due-diligence, negotiation, and integration phases of a successful merger or acquisition. One of the most important considerations is the professional liability risk that can arise from combining with another firm. This column identifies those risks and recommends how to address them.