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IFAC FOCUS AREAS
- Accountability. Now.
- 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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The International Public Sector Accounting Standards Board® (IPSASB®) develops International Public Sector Accounting StandardsTM (IPSASsTM), accrual-based standards used for the preparation of general purpose financial statements by governments and other public sector entities around the world. Through these standards, the IPSASB aims to enhance the quality, consistency, and transparency of public sector financial reporting worldwide. The IPSASB also issues guidance and facilitates the exchange of information among accountants and others who work in the public sector and promotes the acceptance of and international convergence to IPSASs. The IPSASB’s "A Closer Look at:" series explores individual governments and the challenges and benefits each has faced in adopting accrual accounting and IPSASs.
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The IPSASB's Strategy 2015 Forward: Leading through Change
Developed after consultation with stakeholders, the Strategy of the International Public Sector Accounting Standards Board (IPSASB) covers the period from 2015 forward.
It will guide the IPSASB’s activities from 2015 forward so that the IPSASB can fulfill its public interest mandate.
Malta Sees Benefits of IPSAS Adoption
Malta believes the adoption and implementation of International Public Sector Accounting Standards (IPSAS) will revolutionize its accounting system, and enhance accountability, credibility, and transparency.
"Furthermore, (IPSAS) will strengthen public finance management and have a positive impact on the nation’s reputation with credit rating agencies,” said Finance Minister Edward Scicluna.