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IFAC FOCUS AREAS
- 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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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
Assists management, boards of directors, external stakeholders, and others interacting with the entity by providing both understanding of what constitutes a system of internal control and insight into when internal control is being applied effectively.
Evaluating and Improving Internal Control in Organizations
June 28, 2012 - IFAC
Highlights areas where the practical application of existing internal control standards and frameworks often fail in many organizations and assists professional accountants in business to continuously evaluate and improve internal control, and ensure that it is integrated into governance and risk management.
Evaluating and Improving Governance in Organizations
January 31, 2009 - IFAC
Includes a framework-consisting of a series of fundamental principles, supporting guidance, and references-for how professional accountants can contribute to evaluating and improving governance in organizations.
Provides principles-based guidance to assist professional accountants and their organizations in developing and implementing a code of conduct in a values-based culture.
While more and more businesses are recognising the risk of cyber threats, they’re still not doing enough to address them, says ICAEW's latest Audit Insight report on Cyber Security.
This update to the 2013 Audit Insights: Cyber Security report raises specific issues and concerns that auditors are aware of in the cyber-security enviornment.
IIA President and CEO Richard Chambers explains why old-school audit planning was not designed to deal with unexpected risks.
- Auditors Warn Businesses Falling Further Behind Cyber Attackers
October 31, 2014 - Asia One Business
- US Board Members Keenly Focused on Risk
October 1, 2014 - Journal of Accountancy
- US SEC Charges Software Co. for Inadequate Internal Controls
September 29, 2014 - Accounting Today
- CFOs Show Increasing Appetite for Risk
September 29, 2014 - Economia
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