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||
Audit & Assurance
Accounting firms offer a wide range of professional services to their clients, including audit, review, other assurance, and related services. These services are regulated, with many jurisdictions requiring compliance with international standards or national requirements that have been based on international ones. High-quality international standards increase the comparability, consistency, clarity, credibility, and transparency of financial information. And, high-quality financial information, in turn, increases the stability of the global financial infrastructure. See the full overview.
by Fayez Choudhury, Chief Executive Officer, IFAC | October 18, 2016
Last week, the South African Independent Regulatory Board for Auditors (IRBA) announced a timeline for new mandatory audit firm rotation requirements—a policy requiring companies to switch auditors periodically. In the same week, the
There are 64 articles
Growing Your Practice: Agreed-Upon Procedures EngagementsRecognizing that agreed-upon procedures engagements have the potential to be an attractive and fast-growing service offering to SMEs, the IFAC SMP Committee is interested in how these engagements are being performed under ISRS 4400, Engagements...
by Dawn McGeachy, IFAC SMP Committee Member & Chair of the Implementation Guidance Task Force and Christopher Arnold, Technical Manager, SME & SMP Affairs, IFAC | October 28, 2014
Why Review Engagements Might Be a Perfect Fit for Your Small Business ClientsReview engagements provide a limited form of assurance on historical financial statements and may be a cost effective and value-adding alternative when an audit is not required.
by Phil Cowperthwaite, Member, IFAC SMP Committee | October 17, 2014
Quick and Accurate Data Extraction Enabled by New AICPA StandardsA new series of standards from the American Institute of CPAs for organizing general ledger and sub-ledger data may reduce the effort involved in finding, preparing, and sharing evidentiary data.
by Kristine Hasenstab, Director, PwC US, and a CPA in Georgia and Eric E. Cohen, XBRL Global Technical Leader, PwC US, and a CPA in New York | September 29, 2014
Developing the IFAC SMP Committee Response: Proposed ISA Enhancements Focused on Financial Statement DisclosuresThe IFAC SMP Committee is seeking feedback on their preliminary views in response to the IAASB’s Exposure Draft, Addressing Disclosures in the Audit of Financial Statements, which is open for comment until September 11, 2014.
by Christopher Arnold, Head of SME/SMP and Research, IFAC | August 25, 2014
Working Our Way to Consensus: Internal Controls and the Audit of Smaller and Less-Complex EntitiesFirms can have very different approaches to the requirements of the International Standards on Auditing that address risk, in particular with regard to internal controls. But auditors of smaller and less-complex entities need to understand the...
by Katharine Bagshaw, Technical Manager, Auditing Standards, ICAEW | July 25, 2014
News and Resources
There are 1926 news/resources
Australian Economy Benefits from Adoption of International Accounting Standards
Foreign Affairs - November 2, 2016
SMEs Get Help from Banks in Accessing Finance
Economia - November 2, 2016
Saudi Arabia Replaces Long-Serving Finance Minister
Public Finance International - November 2, 2016
Audit Committees Voluntarily Disclosing More about Auditor Oversight
Journal of Accountancy - November 1, 2016
CAQ "Profession in Focus," Episode 34
Center for Audit Quality - October 31, 2016
FASB Updates Standards for Income Taxes and Asset Transfers
Accounting Today - October 28, 2016
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