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 67 articles
Why Bother with Assurance?As audit thresholds for statutory audits around the world continue to rise, some companies will still choose voluntarily to be audited, but for those that don’t, the profession needs to be ready to offer valuable alternative assurance services.
by Henry Irving, Head of Audit and Assurance Faculty, ICAEW | February 26, 2015
ISRS 4410: The Standard for Today’s Compilation EngagementsWith the growing demand for non-assurance services, compilation engagements conducted in compliance with the revised International Standard on Related Services (ISRS) 4410 provide new opportunities for professional accountants in practice and...
by Phil Cowperthwaite, Former Member, IFAC SMP Committee | January 22, 2015
Communication Is Vital to the Performance of SME AuditsIdentifying who is charged with governance, and ensuring appropriate communication and documentation, are vital to the success of smaller entity audits.
by Katharine Bagshaw, Member, IFAC Small and Medium Practices Committee | November 11, 2014
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
News and Resources
There are 1952 news/resources
AICPA FinREC: FASB Proposal Improves Hedge Accounting Model
Accounting Web - December 13, 2016
The New Auditor’s Report: Questions and Answers
International Auditing and Assurance Standards Board - December 13, 2016
The Globalization of Accounting and Auditing Standards
Accounting Today - December 12, 2016
FASB Offers Insight on Three Lease Accounting Trends
Accounting Web - November 29, 2016
Australian Government Pushes for Bitcoin Accounting Standards
CoinDesk - November 22, 2016
Deloitte Scoops BP and Centrica Audits
Accountancy Age - November 22, 2016
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