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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
The objectives of the auditor under AU-C Section 560 are, first, to obtain sufficient appropriate audit evidence about events occurring between the date of the financial statements and the date of the auditor’s report.
This document captures reflections and insights from students and teachers and offers unique blend of candid conversations and discussions.
Aims to reflect on the Philosophy for Accountancy programme that we piloted and to help us challenge existing thinking and invite further discourse by posing new questions.
In an increasingly complex business and regulatory environment, some audit practitioners find that specialization reduces their risk while lowering their costs.
Audit committees of public companies are under increasing regulatory pressure to ensure external auditors are doing a quality job. Considering these factors should help them fufill their oversight role.
This Symposium panel examined how the evolving use of data analytics might change the way financial statement audits are conducted, what impact that has on auditor judgment, on the skill mix of the engagement team, whether auditing standards will need to be updated, and challenges these things might pose for accounting educators.
What Do We Know about Mandatory Audit Firm Rotation?
August 28, 2015 - ICAS
Covers research from the major international markets and jurisdictions with experience of mandatory audit firm rotation. Issues considered include the impact, if any, of mandatory audit firm rotation on: audit quality, auditor independence, audit costs and audit market concentration.