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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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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. Read More
Examines five key areas AC members should focus on prior to their next audit—IT risk, regulatory change and management, globalization, the annual external reporting suite, and internal evaluation and controls.
Focuses on planning requirements for the standard, along with a listing of practical activities that will result in quality, profitable audit engagements.
The Certified Public Accountants and Auditing Oversight Board (CPAAOB) has published the Audit Firms Monitoring Policy for Fiscal Year 2015.
Cindy Fornelli discusses the CAQ's joint report with The IIA on intersecting roles in auditing.
Momentous changes to the auditor's report are likely, thanks to the deceptively simple principle of a 'fair, balanced and understandable assessment'.
11 ways to protect your practice from liability.
AU-C Section 300 is a redraft of the 2006 audit standards. Requirements for the preliminary engagement activities are presented, followed by a list of practical activities that are normally necessary for effective engagement planning.