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Global Regulatory Report

This report was compiled by public policy and regulation staff at the International Federation of Accountants (IFAC), summarizing select globally significant public policy and regulatory developments impacting the accounting and auditing profession. The report is not intended to be a complete compilation of all developments.

  • August 2025
    • Consultations and Comments
      Australia

      August 28 – The AASB has commenced Phase 1 of its Agenda Consultation for the 2027–2031 period and is seeking broad preliminary input on key challenges and emerging areas that may warrant its attention via a stakeholder survey. AASB consultation

      European Financial Reporting Advisory Group (EFRAG)

      August 5 – EFRAG has issued a Feedback Statement on the IASB’s Exposure Draft Provisions – Targeted Improvements. EFRAG comment  

      Japan

      August 13 – The JICPA has comments on IFAC’s Consultation Paper " Statements of Membership Obligations (Revised 202X).” JICPA comment 

      Netherlands

      August 21 – The NBA (Netherlands Institute of Chartered Accountants) has released a revised version of Guideline 1109: 'Accountant and corporate governance information' for consultation. NBA consultation 

      United Kingdom

      August 13 – The Financial Reporting Council (FRC) has published a discussion paper and launched the next phase of engagement on its Future of Audit Supervision Strategy (FASS). FRC consultation 

    • Summary of News and Events
      Australia

      August 25 – Auditor Proud Day, an annual global social media campaign led by CA ANZ, highlighted how the audit profession is evolving through the integration of human intelligence and advanced technologies—such as AI and automation—to create more impactful, future-ready auditors. 

      Celebrating #AuditorProud Day 2025 | CA ANZ

      FAF

      August 19 – The Financial Accounting Foundation (FAF) Board of Trustees has selected Dalia O. Blass to serve as its new Board chair and appointed Erin Hill as the Foundation’s new executive director. 

      FAF Names New Board Chair and New Executive Director 

      IFAC

      August 25 – IFAC is excited to announce that the World Congress of Accountants (WCOA) will be held November 17–20, 2026, in Seoul, South Korea. The Korean Institute of Certified Public Accountants (KICPA) and IFAC will serve as joint hosts, working closely to welcome professional accountants from around the world for the event. 

      Seoul Named Host City for World Congress of Accountants 2026 

      August 15 – IFAC welcomes the appointment of Julia Rendschmidt as the new Executive Director of the International Forum of Independent Audit Regulators (IFIAR), effective 1 October. IFAC also extends its sincere thanks to Delon Abrams for his dedication and leadership while serving as Acting Executive Director over the past several months. 

      IFAC Welcomes Incoming Executive Director at IFIAR  

      IFIAR

      August 1 – IFIAR has announced that Julia Rendschmidt, the current Head of Division for EU and International Affairs with the German Auditor Oversight Body, will be the new Executive Director of IFIAR. 

      IFIAR appoints Executive Director – IFIAR 

      Singapore

      August 25 – The Institute of Singapore Chartered Accountants (ISCA) and Ernst & Young LLP (EY Singapore) have signed a three-year Memorandum of Understanding (MOU) on 19 August 2025 to launch the “EY x ISCA SCAQ Career Mobility Programme”.  

      ISCA and EY Launch “SCAQ Career Mobility Programme” 

      August 19 – With the demand for accountancy and finance professionals growing amid Singapore’s transition to a digital and sustainable economy, the Institute of Singapore Chartered Accountants (ISCA) today launched a $2 million Career Support Programme to help jobseekers and mid-career individuals pivot confidently into the accountancy profession 

      ISCA Launches Career Support Programme 

      IPSASB

      August 14 – As a result of the application of IPSAS 46, Measurement, the IPSASB has issued Amendments to IPSAS Standards as a Result of the Application of IPSAS 46, Measurement.  

      IPSASB Issues Amendments to IPSAS Standards 

      Australia

      August 20 – In response to the rapid evolution of artificial intelligence (AI) and its growing impact on the accounting profession, Chartered Accountants Australia and New Zealand (CA ANZ) has launched the AI Fluency Playbook: a comprehensive guide designed to help members harness the power of generative AI (GenAI) ethically, effectively and strategically. 

      CA ANZ Launches AI Fluency Playbook | CA ANZ 

      India

      August 1 – The ICAI published a report on how Chartered Accountants can use AI to generate different kinds of samples for auditing. 

      ICAI - AI Enabled Audit Sampling 

      Malaysia

      August 11 – In response to the rise of artificial intelligence (AI) in the accounting profession, the Malaysian Institute of Accountants (MIA) is promoting ethical awareness, 

      Accountants and Navigating Technology 

      South Africa

      August 21 – The SAICA has reaffirmed its commitment to advancing responsible AI development in South Africa by contributing to the country's first AI Maturity Assessment Framework, highlighting the need for coordinated efforts, ethical governance, and strategic investment to improve AI readiness and drive inclusive socio-economic progress. 

      SAICA champions AI readiness 

      United Kingdom

      August 4 – A joint report by ACCA and EY emphasizes that robust AI assessments—covering governance, compliance, and performance—are critical for building trust, managing risks, and unlocking AI's full potential to drive innovation, productivity, and sustainable growth. 

      ACCA and EY share guidance to boost confidence in AI 

       

      United States

      August 11 – In the Center for Audit Quality’s latest Institutional Investor survey, oversight of AI emerged as a top issue for institutional investors as more companies deploy the technology across accounting, operations, and disclosures. 

      Auditors and AI in the New Era of Audit | The CAQ 

       

      Australia

      August 8 – CA ANZ’s annual Quality Review Program for Australian firms reveals that the most common deficiencies are incomplete Systems of Quality Management (SOQM) and inadequate Risk Management Frameworks, and provides tailored tools and proformas to help practices address these issues. 

      Australian quality review findings | CA ANZ 

      PCAOB

      August 26 – The Public Company Accounting Oversight Board (PCAOB) today announced the formation of the Smaller Firm Resource Group, an advisory group of professionals from smaller audit firms. 

      PCAOB Launches Smaller Firm Resource Group

      PCAOB

      August 28 – The Public Company Accounting Oversight Board (PCAOB) announced that it is postponing for one year, to December 15, 2026, the effective date for QC 1000, A Firm’s System of Quality Control, and other new and amended PCAOB standards, rules, and forms adopted by the Board on May 13, 2024. The Board’s action also postpones the related rescission date of certain rules and standards that are currently in force.

      PCAOB Postpones Effective Date of QC 1000

      PIOB

      August 29 – The Public Interest Oversight Board (PIOB) is pleased to announce the Certification of the International Auditing and Assurance Standards Board´s (IAASB) Narrow Scope Amendments to the International Standards on Quality Management (ISQMs), International Standards on Auditing (ISAs), and International Standard on Review Engagements (ISRE) 2400 (Revised), as approved by the IAASB in June 2025. 

      The PIOB certifies Amendments to the IAASB standards

      Australia

      August 26 – The has AASB issued Tier 2 disclosure requirements for Nature-dependent Power Purchase Agreements. 

      AASB issues Tier 2 disclosure requirements 

      GRI

      August 4 – Over 300 organizations, including investors, companies, and NGOs, have signed a declaration urging the EU to protect the "double materiality" principle within the Corporate Sustainability Reporting Directive (CSRD). 

      Growing demand for corporate transparency 

      IAASB

      August 14 – The IAASB has released two new resources to further support jurisdictions and stakeholders in adopting and implementing the International Standard on Sustainability Assurance (ISSA) 5000, General Requirements for Sustainability Assurance Engagements. 

      New Resources to Support ISSA 5000

      IFAC

      August 18 – Convened by the International Federation of Accountants (IFAC) and co-hosted with the Pan African Federation of Accountants (PAFA) and the Institute of Certified Public Accountants of Kenya (ICPAK), IFAC Connect Africa 2025 launches the second annual IFAC Connect series, designed to ensure international standards and best practices support local solutions. 

      IFAC Connect Africa Opens in Nairobi 

      IPSASB

      August 20 – The IPSAB is offering up to six grants of $2,000 USD for research on topics on such as public sector financial reporting and sustainability. 

      Call for Papers Related to Public Sector Financial & ESG Reporting

    • Upcoming Calendar

      September 2: Due Process Oversight Committee meeting. IFRS 

       

      September 3: EFRAG SRB meeting. EFRAG 

       

      September 4: EFRAG FR TEG & EFRAG SR TEG joint online meeting EFRAG 

       

      September 7-9: IPSASB Public Sector Standard Setters Forum IPSASB 

       

      September 8: EFRAG SR TEG meeting. EFRAG 

       

      September 9: EFRAG FIWG webcast meeting. EFRAG 

       

      September 9-12: IPSASB meeting. IPSASB 

        

      September 10: EFRAG FR TEG & EFRAG FRB joint webcast meeting. EFRAG 

       

      September 11: SEC closed meeting. SEC 

       

      September 11: EFRAG SER TEG meeting. EFRAG 

       

      September 15-18: IAASB meeting. IAASB 

       

      September 15-19: IESBA meeting. IESBA 

       

      September 16: IFRS Interpretations Committee meeting. IFRS 

       

      September 16: EFRAG SRB meeting EFRAG 

       

      September 18: EFRAG FR TEG CFSS webcast meeting. EFRAG 

       

      September 19: EFRAG FR TEG webcast meeting. EFRAG 

       

      September 22-23: Sustainability Standards Advisory Forum. IFRS 

       

      September 22-26: IASB meeting. IASB 

       

      September 22-26: ISSB meeting. ISSB 

       

      September 23: UN Leaders Summit. UN Global Compact Leaders Summit 2025 

       

      September 23: EFRAG SR TEG meeting. EFRAG 

       

      September 25: EFRAG SR TEG meeting. EFRAG 

       

      September 25: EFRAG FRB physical meeting. EFRAG 

       

      September 29-30: World Standard-setters Conference 2025. IFRS - World Standard-setters Conference 2025 

       

      September 29: EFRAG SRB meeting. EFRAG