Developing the Accountancy Profession
IFAC Member Compliance Program Strategy, 2016-2018
Sep 30, 2015 | Annual Reports and Plans
The IFAC Member Compliance Program influences the actions and drives the behaviors of IFAC member bodies around the world by focusing attention and resources on the role of professional accountancy organizations (PAOs) in improving the quality of the accountancy profession, thereby supporting the IFAC mission and strengthening public confidence in the global profession.
The Program’s strategy is aligned with IFAC’s mission and strategy and benefits from the inputs received from member organizations and other stakeholders as part of IFAC’s strategic planning process.
The Program’s primary activities focus on:
- Maintaining robust application and compliance processes;
- Gathering and sharing knowledge about the adoption of international standards and practices and fulfillment of the IFAC Statements of Membership Obligations (SMOs);
- Maintaining the SMOs as a global benchmark for the accountancy profession; and
- Developing assessment methodology, tools, and guidance to support the Program.
These activities fulfill the Program’s mandate and are expected to remain valid over the long term.
For 2016-2018, the Program’s strategy will focus on:
- Monitoring member organizations' compliance with membership requirements, including the SMOs, to better understand the challenges these organizations face;
- Enhancing reporting on the status of adoption of international standards; and
- Identifying actions to address adoption and implementation challenges, including support for member organizations and national authorities.
The Program serves the public interest by promoting the adoption and support for implementation of international standards on public and private sector accounting, auditing, ethics, and education as well as the establishment of related quality assurance review systems and enforcement mechanisms. A dedication to quality, commitment to transparency, and appreciation of diversity are the guiding values of the Program.
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