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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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Risk Management & Internal Control
Proper risk management and internal control help organizations understand the risks they are exposed to, put controls in place to counter threats, and effectively pursue their objectives. They are therefore an important aspect of an organization’s governance, management, and operations. Professional accountants can and should play a leading role in helping their organizations achieve an integrated, organization-wide approach to risk management and internal control—which ultimately helps create, enhance, and protect stakeholder value. Read More
by Samantha McDonough, Professional Standards Support Manager, Chartered Institute of Management Accountants | May 21, 2015 |
Samantha McDonough shares some key corruption indicators that can help accountants capitalize on their ability to spot anomalies or irregular activity through their preparation of financial information to help prevent and report crime. Read More
Just Released and Right on Time: IFAC Thought Paper on Integrating Risk Management
by Vincent Tophoff, Senior Technical Manager, IFAC | May 8, 2015 |
IFAC just released a new thought paper arguing that the management of risk should be an integral part of managing an organization. Read More
Management Accounting, Risk Management, and Internal Control—It’s What We Do!
by J. Stephen McNally, Finance Director and Controller, Campbell Soup Company and Vincent Tophoff, Senior Technical Manager, IFAC | May 4, 2015 |
For the third year in a row, we will be presenting on risk management and internal control at IMA's annual conference, this year in Los Angeles on June 20-24. Read More
What Is Driving the Future of Risk Management? Your Opinion Counts
by Vincent Tophoff, Senior Technical Manager, IFAC | February 12, 2015 |
RIMS, the risk management society, is asking professional accountants to respond to a survey on risk management trends. Read More
COSO is updating its Enterprise Risk Management Integrated Framework from 2004; IFAC is participating in the update and would love to hear your ideas and suggestions. Read More
- Homeland Security Websites Vulnerable to Cyber Attack: Audit
September 18, 2015 - Reuters
- ICAI Issues Guidance Note for Internal Financial Controls
September 16, 2015 - Economic Times
- US Survey: 60% of Boards Want Increased Risk Management Oversight by Senior Management Teams
September 15, 2015 - American Institute of CPAs
- 5 Ways Not-for-Profits Can Detect and Prevent Fraud
September 15, 2015 - AICPA Insights
- Internal Control-Integrated Framework
May 1, 2013 - Committee of Sponsoring Organizations of the Treadway Commission (COSO)
- Evaluating and Improving Internal Control in Organizations
June 28, 2012 - IFAC
- Evaluating and Improving Governance in Organizations
January 31, 2009 - IFAC
- Defining and Developing an Effective Code of Conduct for Organizations
May 31, 2007 - IFAC