IFAC Response to the Monitoring Group Consultation

Feb 09, 2018 | Comment Letters, Guidance & Support Tools
45 Pages

International standards for auditing and ethics play a critical role in the global financial infrastructure, assisting in promoting economic stability and international consistency, and in doing so, enhancing international financial and capital flows essential to a thriving global economy. This is especially important for emerging economies.

IFAC is of the view that the Monitoring Group must engage in broad-based, open and collaborative dialogue with the key stakeholders—beyond the information session and roundtables already conducted—to discuss critical issues not addressed in this initial consultation, and which need to be considered holistically, in order to arrive at an agreed set of proposals that can be publicly consulted, and which have the broad support of all the key stakeholders.

IFAC is confident that frank and forthright collective discussions and engagement by the Monitoring Group, with IFAC, international audit firm networks, and international and regional stakeholders, will be able to reach agreement on these matters.

IFAC looks forward to collectively engaging with the Monitoring Group and other key stakeholders to continue this important dialogue and arrive at the best public interest outcome for the global economy.


Copyright © 2020 The International Federation of Accountants (IFAC). All rights reserved.


Related Resources


Looking for the standard-setting boards?

View Boards Site


Translations & Permissions

Looking to reproduce the standards for your members? Want to include IFAC's publications in your training materials or university course? Learn how we can help.

IP permissions and policies


Primary tabs

Thank you for your interest in our publications. These valuable works are the product of substantial time, effort and resources, which you acknowledge by accepting the following terms of use. You may not reproduce, store, transmit in any form or by any means, with the exception of non-commercial use (e.g., professional and personal reference and research work), translate, modify or create derivative works or adaptations based on such publications, or any part thereof, without the prior written permission of IFAC.

Our reproduction and translation policies, as well as our online permission request and inquiry system, are accessible on the Permissions Information web page.

For additional information, please read our website Terms of Use. ALL RIGHTS RESERVED.