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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.
|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. Read More
Summary of our recent hit presentation on how to upgrade risk management and internal control in your organization, given at IMA’s 2014 Annual Conference. Read More
IIA Looks to Enhance Its Internal Audit Framework—What Is Your Take?
by Vincent Tophoff, Senior Technical Manager, IFAC | August 14, 2014 |
The Institute of Internal Auditors issued an exposure draft on proposed enhancements to its International Professional Practices Framework—we would love to hear your views. Read More
How to Manage Risk More Effectively—Make it Part of How You Manage
by Grant Purdy, Associate Director, Broadleaf | July 3, 2014 |
Managing risk is already a natural part of how people make decisions and execute them; risk management is already “integrated”. Risk management tools and processes should be adapted to suit the needs of the decision makers and their existing approaches to decision making rather than the other way around. Read More
Of Scenarios and Accountants: The Importance of Scenario Analysis for Organizations
by Eli R. Khazzam, Editor-in-Chief, Global Knowledge Gateway, IFAC and Vincent Tophoff, Senior Technical Manager, IFAC | June 23, 2014 |
Professional accountants can play a key role in risk management by engaging in scenario analysis exercises. They can use scenario analysis to improve the efficient management of resources, corporate governance, and the facilitation of information. Read More
A Ball of Confusion: What Is Your Appetite for Risk Appetite?
by Vincent Tophoff, Senior Technical Manager, IFAC | June 18, 2014 |
The problem with specialist terminology is it often confuses, rather than clarifies, risk management. Read More
- Materiality Matters: Why Don't Companies Have to Disclose Sustainability Risk?
April 28, 2015 - Green Biz
- US: “Pervasive” Pressure Challenges Internal Audit’s Objectivity
March 18, 2015 - Journal of Accountancy
- New Internal Control Standards Deadline Passes Unmarked, for Some
March 3, 2015 - Wall Street Journal CFO Journal
- Nearly One in Three a Financial Fraud Victim: CPA Canada Survey
February 27, 2015 - CPA Canada
- Internal Control-Integrated Framework
May 1, 2013 - Committee of Sponsoring Organizations of the Treadway Commission (COSO)
- Evaluating and Improving Internal Control in Organizations
June 28, 2012 - IFAC
- Evaluating and Improving Governance in Organizations
January 31, 2009 - IFAC
- Defining and Developing an Effective Code of Conduct for Organizations
May 31, 2007 - IFAC