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 38 articles
From Bolt-on to Built-in: Integrating Risk ManagementGood risk management and internal control is good management—not compliance. With the increased volatility in the modern business environment and the financial and economic crises, the effective application of risk management and internal...
by Vincent Tophoff, Senior Technical Manager, IFAC | January 31, 2014
IFAC Facilitates Global Alignment of Risk Management and Internal Control GuidelinesAn important driver of business performance, as well as one of the best defenses against business failure, is having effective risk management and internal control. Successful organizations know how to take advantage of opportunities and counter...
by Vincent Tophoff, Senior Technical Manager, IFAC | November 8, 2013
Revised COSO Framework: Improved but Additional Adjustments Still NeededOn May 14, 2013, the COSO issued the revised version of its Internal Control-Integrated Framework to help improve implementation of internal control but further adjustments are warranted to align internal control across the globe and to help...
by Vincent Tophoff, Senior Technical Manager, IFAC | November 4, 2013
News and Resources
There are 618 news/resources
The Game Changers
Finance-Monthly - October 31, 2016
Risk Management & Reporting
EY - October 28, 2016
UK Loses £11bn in a Year to Cyber Crime
Economia - October 19, 2016
Fraud Risk Management Guidance Updated by COSO
Journal of Accountancy - October 3, 2016
5 Steps to Strengthen Internal Controls at Small Businesses and Not-for-Profits
CGMA Magazine - October 3, 2016
Cyber Attack Survival Guide
Financial Times - October 3, 2016
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