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||
Risk Management & Internal Control
Proper risk management and internal control help organizations understand the risks they are exposed to, put controls in place to counter threats, and effectively pursue their objectives. They are therefore an important aspect of an organization’s governance, management, and operations. Professional accountants can and should play a leading role in helping their organizations achieve an integrated, organization-wide approach to risk management and internal control—which ultimately helps create, enhance, and protect stakeholder value. See the full overview.
by Vincent Tophoff, Senior Technical Manager, IFAC | October 30, 2017
The Committee of Sponsoring Organizations of the Treadway Commission (COSO)’s newly updated Enterprise Risk Management Framework takes important steps toward ensuring risk is managed as an integrated part of managing an organization.
There are 41 articles
The CO2 Reduction Approach by Companies Is InadequateA new survey shows that few companies are proactively trying to reduce their greenhouse gases—many companies have no specific targets in this area.
by Erik Kolthof, Senior Advisor, Royal NBA and Lucas Geusebroek, Project Lead Circular Economy, Royal NBA | June 4, 2018
Better Risk Management: It’s about SurvivalCompanies who understand and manage their risks fair better in the global economy and at home—in many cases, they attract better employees and better investments, which often translate into growth and sustained success.
by Rodney Irwin, Managing Director of Redefining Value and Education, World Business Council for Sustainable Development | May 4, 2018
Revised ISO 31000 Risk Management Standard: Still a Good Reference but Not Substantially ImprovedEarlier this year, the International Organization for Standardization (ISO) issued the revised standard ISO 31000 - Risk management, which provides principles, framework and a process for managing risk in any organization regardless of its size,...
by Vincent Tophoff, Senior Technical Manager, IFAC | March 14, 2018
How Can the New ERM Framework Help You?The updated COSO ERM framework focuses on five elements of good ERM, which guides businesses in developing a strategy that ultimately helps them reach their mission and vision.
by Patrick J. Stroh, Institute of Management Accountants Global Board Member and President, Business Strategy Innovation at Mercuiry Business Advisors | February 12, 2018
News and Resources
There are 619 news/resources
Internal Control-Integrated Framework
Committee of Sponsoring Organizations of the Treadway Commission (COSO) - May 1, 2013
Evaluating and Improving Internal Control in Organizations
IFAC - June 28, 2012
How Boards Can Better Manage Disruptive Risks
Financial Management Magazine - October 10, 2018
Audit Insights: Cyber Security
ICAEW - July 16, 2018
ICAEW Issues GDPR Guidance for Accountants
ICAEW - May 16, 2018
5 Smart Ways to Protect Your Business from Cyber Attacks
YFS Magazine - April 23, 2018
How Board Members Can Perform Oversight of Cybersecurity Risks
Journal of Accountancy - April 20, 2018
Cybersecurity Risk Management Oversight: A Tool for Board Members
Center for Audit Quality - April 12, 2018
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