Press Releases/News Alerts
Feb 16, 2006
IFAC Seeks Public Members for Ethics and Public Sector Accounting Standards Boards
The International Federation of Accountants (IFAC), the global organization for the accountancy profession, is seeking nominations for a public member for the International Ethics Standards Board for Accountants and for a public member for the International Public Sector Accounting Standards Board, independent standard-setting boards within IFAC. Individuals, organizations, accountancy firms and IFAC member and regional accountancy bodies may submit nominations for these two public member positions by April 15, 2006. Public members are expected to act in the public interest and must be seen to be independent of any special interests and seen to be acting to represent society as a whole.
The International Ethics Standards Board for Accountants develops high-quality ethical standards and other pronouncements for professional accountants around the world. The IFAC Code of Ethics for Professional Accountants and Interpretations apply to all professional accountants, including those in public practice, business, education, and the public sector. The Code serves as the foundation for codes of ethics developed and enforced by member bodies, and no member body of IFAC or firm issuing reports in accordance with International Standards on Auditing may apply less stringent standards than those stated in the Code.
The International Public Sector Accounting Standards Board (IPSASB) develops high-quality accounting standards for use by governments and other public sector entities around the world in the preparation of general purpose financial statements. Its aim is to enhance the quality and transparency of public sector financial reporting and strengthen public confidence in public sector financial management. The IPSASB also supports the convergence of international and national public sector accounting standards and the convergence of accounting and statistical bases of financial reporting where appropriate.
Nominees for either public member position must have an appropriate level of knowledge about the work of the respective board, although they need not have a professional accountancy designation. See the Call for Nominations for more information, including expected time commitments. Organizations and individuals interested in submitting candidates may do so through the electronic Candidate Information Form, available at http://www.ifac.org/NominationForms.
The search for public members for IFAC's standard-setting boards is part of a broad-based and transparent IFAC nominations process designed to identify the most qualified candidates possible. All members of these groups are required to sign a declaration committing to act with integrity and in the public interest in their role within IFAC.
IFAC is dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. Its current membership consists of over 160 professional accountancy bodies in 120 countries, representing more than 2.5 million accountants in public practice, education, government service, industry and commerce. IFAC, through its independent standard-setting boards, sets international standards on ethics, auditing and assurance, education, and public sector accounting. It also issues guidance to encourage high-quality performance by professional accountants in business.