Statements of Membership Obligations, 1-7

The Statements of Membership Obligations (SMOs) set global benchmarks for IFAC members to support the adoption and implementation of international standards, as well as robust quality assurance and investigation and disciplinary systems. The 2026 revisions are effective April 1, 2026.

The revisions introduce targeted refinements to reflect developments in quality management, professional education pathways, and expanded corporate and public sector reporting, and to support the continued modernization of the IFAC Member Compliance Program. The revisions follow a rigorous global due process, including an Exposure Draft and extensive public consultation in 2025, reinforcing the SMOs’ global credibility and authority.

Key revisions include:

• Quality Management: Alignment with international quality management standards to strengthen firm-level systems.
• Education: Encouragement of more flexible pathways into the profession, consistent with international education standards.
• Reporting Standards: Integration of expanded public sector reporting standards issued by the International Public Sector Accounting Standards Board and expanded corporate reporting standards issued by the International Sustainability Standards Board.