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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
This details why scalable auditing standards and professional scepticism are essential
Tips for Trainers on ISAs from the Trainers' Seminar in Kampala, Uganda, June 2014.
Auditors continue to fail to warn markets of business troubles, often because they ignore one or more of these audit danger signs.
European directive on statutory audits of annual and consolidated accounts and regulation on statutory audit of public interest entities.
This explores what business ethics means for small to medium-sized business enterprises and how they can introduce and support high standards of business practice.
Good standards in audit quality maintained but greater consistency required
Launched in 2010, the legislative process of the European Audit Reform reached an end as the new Regulation and the amended Directive were voted in by the European Parliament on April 2nd, 2014.