Transnational Auditors Committee
The Transnational Auditors Committee (TAC) of the International Federation of Accountants (IFAC) operates as the executive arm of the Forum of Firms (FoF, Forum), an association of international networks of accounting firms that perform transnational audits. The TAC provides the official linkage between the Forum and IFAC and plays a major role in encouraging members of the Forum to meet high-quality standards in the practice of international auditing.
Role and Responsibilities
The specific responsibilities of the TAC include:
- Identifying audit practice issues and making recommendations to the appropriate standard-setting boards to review these issues as needed;
- Providing a forum to discuss best practices in areas including quality control, auditing, independence, and training and continuing professional development;
- Acting as a formal conduit for interaction among transnational firms, international regulators, and financial institutions with regard to audit quality, systems of quality control, and transparency of international networks; and
- Identifying qualified candidates to serve on the international standard-setting boards.