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||
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. See the full overview.
by Vincent Tophoff, Senior Technical Manager, IFAC | October 30, 2017
The Committee of Sponsoring Organizations of the Treadway Commission (COSO)’s newly updated Enterprise Risk Management Framework takes important steps toward ensuring risk is managed as an integrated part of managing an organization.
There are 39 articles
How to Manage Risk More Effectively—Make it Part of How You ManageManaging risk is already a natural part of how people make decisions and execute them; risk management is already “integrated”. Risk management tools and processes should be adapted to suit the needs of the decision makers and their existing...
by Grant Purdy, Associate Director, Broadleaf | July 3, 2014
Of Scenarios and Accountants: The Importance of Scenario Analysis for OrganizationsProfessional accountants can play a key role in risk management by engaging in scenario analysis exercises. They can use scenario analysis to improve the efficient management of resources, corporate governance, and the facilitation of information.
by Eli R. Khazzam, Senior Professional, Economic Development & Emerging Technologies. and Vincent Tophoff, Senior Technical Manager, IFAC | June 23, 2014
A Ball of Confusion: What Is Your Appetite for Risk Appetite?The problem with specialist terminology is it often confuses, rather than clarifies, risk management.
by Vincent Tophoff, Senior Technical Manager, IFAC | June 18, 2014
New Zealand Treasury Uses IFAC Guidance for Government-wide Internal Control AssessmentThe Chief Accounting Advisor at the New Zealand Treasury details how IFAC’s internal control guidance was effectively incorporated into the New Zealand government’s thinking and approach to internal control.
by Ken Warren, Chief Accounting Advisor, New Zealand Treasury | May 13, 2014
Defending against Business Failure: Effective Risk Management and Internal ControlOne of the best defenses against business failure is effective risk management and internal control, which professional accountants are positioned to plan, implement, execute, evaluate, and improve. A recent article by the authors in the...
by J. Stephen McNally, Finance Director and Controller, Campbell Soup Company and Vincent Tophoff, Senior Technical Manager, IFAC | May 13, 2014
News and Resources
There are 623 news/resources
Audit Committees Face Expertise, Risk Management Challenges
CFO.com - January 11, 2017
The Hacker in Client’s Clothing
Accounting Today - November 29, 2016
Risk Management in Government
MetricStream - November 28, 2016
IFAC Reaches Out to Pope Francis on Role of Accountants
Accounting Today - November 19, 2016
Call for Clarity on Use of Aid Cash in Public-Private Development Schemes
Public Finance International - November 18, 2016
Four Critical Reasons Startups and Smaller Organizations Need Internal Control
AICPA Insights - November 16, 2016
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