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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
Looks at the culmination of the risk assessment process and the final determination that detection risk has been reduced to an acceptably low level, thereby permitting an unqualified audit opinion on the financial statements.
The CAQ has premiered an online video series, “Profession in Focus," featuring interviews with leaders in the profession, starting with Deloitte’s new CEO, Cathy Engelbert.
Series of short films and guides aimed at helping the investment community understand what auditors focus on and explaining what some of the jargon you might see in our audit opinions means.
Revolutionising Reporting: Why Care? is the first in the Future Directions series of the future[inc]. Developed out of a series of meetings globally and two stakeholder events with a range of directors, investors and practitioners held in Auckland and Sydney in March.
The following requirements are excerpted from AU-C Section 320 (the complete section should be read for a thorough understanding of materiality concepts).
The AASB plans to move forward with international standards for auditor reporting in 2017. What are your thoughts on addressing this transition?