The Guide aims first and foremost to help IFAC member organizations and their members in practice, especially SMPs, with the implementation of ISRS™ 4410 (Revised), Compilation Engagements, which is one of the International Standards on Related Services™ developed exclusively by the International Auditing and Assurance Standards Board (IAASB).
The voice of your professional accountancy organization (PAO) matters.
The accountancy profession is most successful and sustainable with the support of healthy national and regional professional accountancy organizations (PAOs) that have robust, effective relationships with their national and regional stakeholders, including government and regulators.
The success of any PAO relies in large part on its ability to effectively communicate, and demonstrate, its relevance to society. This begins early in a PAO’s development with promotion of:
Developed in conjunction with CPA Canada, this guide aims to help professional accountants in practice, especially those operating in small- and medium-sized practices (SMPs), in conducting review engagements in compliance with International Standard on Review Engagements (ISRE) 2400 (Revised), Engagements to Review Historical Financial Statements.
This guidance was written for all organizations, regardless of their size or structure, private or public, to support the accountancy profession’s facilitation of sustainable organizations, financial markets, and economies by providing guiding principles to manage the complexities of performing a robust project and investment appraisal. Greater rigor in the appraisal and decision process can be achieved by using the principles as a benchmark against which to assess an organization’s current practice.
A Guide for Professional Accountancy Organizations
A strong and well-governed professional accountancy organization (PAO) produces and sustains a strong accountancy profession that is able to serve the public interest and contribute to economic stability and growth. A successful PAO gains much of its strength from the sense of identity, benefits, and rights that members derive from membership; and from the contributions that individual members and firms make to the PAO in recognition of its public interest perspective.
This third edition of the guide features enhancements to the two sample manuals, as well as other refinements for clarity and consistency with International Standard on Quality Control (ISQC) 1. The guide contains the requirements set out in ISQC 1 in addition to implementation guidance, including discussion material and an integrated case study that can be used as the basis for education and training.
The International Federation of Accountants (IFAC) is pleased to announce the publication of the 2026 edition of the Handbook of International Education Standards. This new edition compiles the full suite of International Education Standards (IES) 1–8, along with the supporting Framework and Glossary, and incorporates all recently revised and updated standards.
The 2026 Handbook is organized to support the consistent adoption and implementation of the IESs, which establish the principles, concepts, and requirements that underpin high-quality accountancy education worldwide.
This edition includes:
The Framework for International Education Standards, which outlines the foundational concepts for developing and maintaining professional competence.
A Glossary of Terms, providing essential definitions used across the standards.
IESs 1–6, addressing entry requirements to professional accounting education programs and the initial professional development of aspiring professional accountants.
IES 7, Continuing Professional Development, establishing requirements for lifelong learning for all professional accountants.
IES 8, Professional Competence for Engagement Partners, which outlines the competence demands for engagement partners responsible for audits of financial statements.
Revisions to IES 2, 3, 4 and 6 aimed at strengthening global consistency in formal assessment and supporting emerging skills needs in areas including ethics and sustainability.
This Handbook includes revised standards that become effective on July 1, 2026 and replaces the 2019 edition.
About IFAC IFAC, by connecting and uniting its members, makes the accountancy profession truly global.
IFAC member organizations are champions of integrity and professional quality, and proudly carry their membership as a badge of international recognition.
IFAC and its members work together to shape the future of the profession through learning, innovation, a collective voice, and commitment to the public interest.
Updated Edition Includes All Recent Revisions; Available for Digital Access and Print Orders
The International Auditing and Assurance Standards Board (IAASB) has developed an approach for maintaining its auditing standard for smaller and less complex entities, known as the International Standard on Auditing for Audits of Financial Statements of Less Complex Entities (the ISA for LCE).
The approach is detailed in an Approach Statement that promotes transparency and execution consistency. It establishes a mechanism for updating the ISA for LCE that emphasizes that revisions to the ISA for LCE should be:
Relevant in the context of the typical nature and circumstances of an audit of a less complex entity; and
Aligned, in a proportionate manner, with the core requirements and concepts of the International Standards on Auditing.
The Approach Statement sets out the context, purpose, process, responsibilities, outputs, and timing for maintaining the ISA for LCE. It also describes the steps the IAASB will follow when developing revisions to the ISA for LCE in response to new or revised auditing standards.
