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IFAC FOCUS AREAS
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- 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
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Summarises findings from surveys of over 1,300 executives in organisations around the world and provides insights on the current state of enterprise-wide risk oversight, including identified similarities and differences in various regions.
Presentation on risk managenet from IFAC Senior Technical Manager Vincent Tophoff at the IIA 2015 General Audit Management Conference.
Governance, Risk Management, and Internal Control in the Public Sector
January 20, 2015 - IFAC
IFAC Senior Technical Manager Vincent Tophoff was invited to give a presentation on risk management and internal control in the public sector to the US Interagency Council on Enterprise Risk Management at the White House Conference Center in Washington, DC. The audience was comprised of risk management and internal control managers throughout the various US federal departments and agencies, including the US Treasury and the Office of Management and Budget.
The cost of cyber attacks to businesses and individuals globally is estimated to be around USD $133 billion, $1 billion in Australia and $625 million in New Zealand. Cyber security is an escalating risk and has become top priority for the boardroom agenda and CIO’s all over.
During the Institute of Chartered Accountants of Pakistan's CFO Conference 2013, CFO: Meeting Future Challenges, IFAC senior technical manager, Vincent Tophoff, gave a presentation on strategic risk management in the face of uncertainty and unexpected risks. In his presentation, Mr. Tophoff discussed current trends and thinking in risk management and best practices.
- IFAC Study Shows Accountancy Strongly Linked to Prosperity, Improved Living Standards
November 12, 2015 - IFAC
- Everything the Finance Exec Needs to Know about Cyber Security
October 8, 2015 - CFO.com
- 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
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