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IFAC FOCUS AREAS
- Accountability. Now.
- Developing the Global Profession
- Global Representation and Advocacy
- Professional Accountants in Business
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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
What’s changing and how are audit committees responding?
Victor Puchi of Eide Bailly LLP on unlocking the value of write-up services.
This paper covers the audit report, the report to the audit committee, and the transparency report and the report to supervisors. On top of the comparison of auditor communication requirements, it provides a helpful overview of how EU law has changed in that regard.
The profession is engaged in an active and important debate about the impact of existing and expected audit exemptions. There is limited air space to debate assurance as well. However, assurance provides a route to other services that clients will need in place of statutory audits. So why not make the time?
ICAEW's Audit and Assurance Faculty has published The Journey milestone 2: assurance over risk disclosures to contribute to the discussion over whether assurance is helpful in the subjective and crystal-ball gazing world of organisational risk management
Staff Q&A - Applying ISAs Proportionately with the Size and Complexity of an Entity - Translated in Spanish.
As of May 2011, the Steering Committee for Statistical Auditing writes a monthly column for technical Accountant.nl. The Steering Committee for Statistical Auditing is connected to the Limperg Institute and aims to 'promote the correct (effective and efficient) use of statistical methods and techniques for audits and related controls on financial reports and statements. Articles in Dutch.