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2013 Financial Statements and Service Delivery

| Annual Reports and Plans

IFAC's Financial Statements are prepared in accordance with International Public Sector Accounting Standards (IPSASs) and include an independent auditor’s report. Notable in the 2013 Financial Statements is a substantial surplus. This surplus is mainly due to new member organization dues; a relentless focus on cost avoidance, recovery, and saving; unplanned staff vacancies, which had a positive effect on travel, meeting, and other project-related costs; and greater diversification in funding for the Public Interest Oversight Board (PIOB).

IFAC’s Service Delivery statement comprehensively details the external services delivered by IFAC in each of its four service areas—Standards and Guidance, Support for Adoption and Implementation, Quality and Development, and Representation—as well as through Communications.

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