Supporting International Standards

International Standards: 2019 Global Status Report

IFAC
Oct 14, 2019 | Guidance & Support Tools
29 Pages
English

Inconsistent and fragmented regulation of the financial sector—which includes divergence in how and when standards are adopted as well as different approaches to monitoring and enforcement—poses significant challenges to national and international economies, not to mention the drag created on the accountancy profession itself. This report establishes a baseline on international standards’ adoption, and explores how and whether accountancy best practices and IFAC member organizations can have a positive role and cost savings impact.

The data comes from the IFAC Member Compliance Program. For the first time, this report covers 173 IFAC member organizations and the 130 jurisdictions in which they operate. This report is, therefore, the first baseline for global adoption status. By establishing this baseline, IFAC hopes to facilitate greater collaboration in tracking adoption trends and increased communication and coordination among accountancy stakeholders.

 

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