Press Releases/News Alerts
Mar 14, 2011
IFAC Members and Stakeholders Invited to Comment on Proposed Compliance Program Strategy
The Compliance Advisory Panel (CAP) has released for comment the International Federation of Accountants’ Proposed Member Body Compliance Program Strategy 2011-2014. The paper was drafted as a result of the strategic discussions held between the CAP, IFAC compliance staff, and Public Interest Oversight Board (PIOB) representatives in October 2010 and January 2011. The discussions were based on the CAP self-assessment, submitted as part of the 2009-2010 Monitoring Group’s review of the IFAC Reforms, as well as comments from the Fifth Public Report of the PIOB (May 2010).
The paper highlights the vision, values, and objectives of the IFAC Compliance Program and suggests priority areas through 2014. These areas include enhancing quality of professional accountancy organizations (PAOs); contributing to the agendas and actions of PAOs for the meaningful adoption and implementation of international standards; improving information and knowledge sharing; and collaborating with stakeholders involved in the regulation and development of the profession.
The CAP invites IFAC members and external stakeholders to comment on its proposed strategy. To access the paper or submit a comment, visit the Exposure Drafts and Consultation Papers section of the IFAC website. Comments on the paper are requested by May 30, 2011.
IFAC (www.ifac.org) is the global organization for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. IFAC is comprised of 164 members and associates in 125 countries and jurisdictions, representing approximately 2.5 million accountants in public practice, education, government service, industry, and commerce.