Statements of Membership Obligations 1 through 7 (Revised)
The exposure draft seeks views from IFAC members and associates and other stakeholders in relation to the proposed revised Statements of Membership Obligations (SMOs) 1-7. The SMOs serve as a framework for credible and high quality professional accountancy organizations focused on serving the public interest by adopting, or otherwise incorporating, and supporting implementation of international standards and maintaining adequate enforcement mechanisms to ensure the professional behavior of their individual members. The intent of the proposed revisions is not to change the applicability of the SMOs but rather to clarify it in line with how they have been interpreted and how the compliance assessment is performed by IFAC. Consequently making the SMOs easier to understand and apply. The Revised SMOs 1-7 were approved for public exposure by the IFAC Board.
Please note: The final version of the Statements of Membership Obligations (SMOs) 1-7 (Revised) has been published. IFAC has also published A Comparison Guide to the 2012 SMO Revisions to explain the revisions and assist member organizations and their technical staff to identify changes and understand and address them.
Submitted Comment Letters
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Society of Accountants in Malawi (SOCAM) (75.17 KB)(Malawi)
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Consiglio Nazionale Dei Dottori Commercialisti E Degli Esperti Contabili (CNDCEC) (1.45 MB)(Italy)
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South African Institute of Professional Accountants (SAIPA) (112.97 KB)(South Africa)
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Japanese Institute of Certified Public Accountants (JICPA) (1.33 MB)(Japan)
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Korean Institute of Certified Public Accountants (KICPA) (115.44 KB)(Korea)
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Union of Accountants of the Czech Republic (UACR) (102.68 KB)(Czech Republic)
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American Institute of Certified Public Accountants (AICPA) (98.97 KB)(United States of America)
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Association of Chartered Certified Accountants (ACCA) (61.7 KB)(United Kingdom)
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Malaysian Institute of Accountants (MIA) (351.6 KB)(Malaysia)
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National Association of Accountants and Auditors of Uzbekistan (NAAAUz) (73.1 KB)(Uzbekistan)
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Certified Practising Accountants Papua New Guinea (CPA PNG) (7.93 KB)(Papua New Guinea)
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Compagnie Nationales des Commissaires aux Comptes (CNCC) & Conseil supérieur de l’ordre des Experts Comptables (CSOEC) (2.18 MB)(France)
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Hong Kong Institute of Certified Public Accountants (HKICPA) (512.86 KB)(Hong Kong, Special Administrative Region of China)
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Chartered Institute of Management Accountants (CIMA) (336.89 KB)(United Kingdom)
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GCC Accounting & Auditing Organization (GCCAAO) (89.47 KB)(Saudi Arabia)
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IFAC Small and Medium Practices Committee (SMP) (96.08 KB)(United States of America)
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Inter-American Technical Commissions - AIC (59.11 KB)(Guatemala)
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CPA Australia (58.59 KB)(Australia)
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Institute for the Accountancy Profession in Sweden (FAR) (195.75 KB)(Sweden)
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Pakistan Institute of Public Finance Accountants (PIPFA) (66.2 KB)(Pakistan)
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Institute of Certified Public Accountants of Kenya (ICPAK) (73.18 KB)(Kenya)
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Georgian Federation of Professional Accountants and Auditors (GFPAA) (20.5 KB)(Georgia)
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Chartered Institute of Public Finance and Accountancy (CIPFA) (84.41 KB)(United Kingdom)
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Institute of Chartered Accountants of Bangladesh (ICAB) (8.8 KB)(Bangladesh)
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Insitute of Professional Accountants of Russia (IPAR) (252.64 KB)(Russian Federation)
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Wirtschaftsprüferkammer (WPK) (55.18 KB)(Germany)
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Institute of Certified Public Accountants of Uganda (ICPAU) (286.74 KB)(Uganda)
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Institute of Certified Public Accountants of Rwanda (ICPAR) (94.34 KB)(Rwanda)
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Mongolian Institute of Certified Public Accountants (MonICPA) (11.49 KB)(Mongolia)
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Association of Accounting Technicians (AAT) (24.11 KB)(United Kingdom)
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Fédération International Des Experts-comptables et commissaries aux comptes Francophones (FIDEF) (193.46 KB)(France)
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Brunei Darussalam Institute of Certified Public Accountants (BICPA) (18.24 KB)(Brunei)
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Institut des Réviseurs d'Entreprises (IRE-IBR) (131.76 KB)(Belgium)
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Institute of Chartered Accountants of Pakistan (ICAP) (29.23 KB)(Pakistan)
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Chinese Institute of Certified Public Accountants (CICPA) (113.78 KB)(China)
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Ordre des Experts Comptables et Financiers de Madagascar (OECFM) (173.76 KB)(Madagascar)
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Conselho Federal de Contabilidade (CFC) & Instituto dos Auditores Independentes do Brasil (IBRACON) (148.97 KB)(Brazil)
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Institut der Wirtschaftsprüfer (IDW) (108.85 KB)(Germany)
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Instituto Mexicano de Contadores Públicos, A.C. (IMCP) (104.05 KB)(Mexico)
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The Institute of Chartered Accountants in Australia (324.11 KB)(Australia)
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Federation of Accountants, Auditors and Consultants of Uzbekistan (FAACU) (344.63 KB)(Uzbekistan)
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Vietnam Association of Accountants and Auditors (VAA) (10.82 KB)(Vietnam)
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Inter-American Development Bank (IDB) (21.99 KB)(United States of America)
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Certified General Accountants Association of Canada (CGA-Canada) (339.27 KB)(Canada)
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The Institute of Chartered Accountants in England and Wales (ICAEW) (26.38 KB)(United Kingdom)
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International Accounting Education Standards Board (IAESB) (68.09 KB)(United States of America)
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KPMG IFRG (241.32 KB)(United Kingdom)
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Institute of Certified Public Accountants in Ireland (CPA) (22.47 KB)(Ireland)
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Instituto de Censores Jurados de Cuentas de España (ICJCE) (141.24 KB)(Spain)
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Philippine Institute of Certified Public Accountants (PICPA) (9.26 KB)(Philippines)