In The News

Only 51% of companies back up their reports on sustainability with assurance, a study of 1,400 companies by the International Federation of Accountants (IFAC) found, warning that low-quality assurance is an "emerging investor protection and financial stability risk."

Global health leaders Gavi, the Vaccine Alliance and the Global Fund to Fight AIDS, Tuberculosis and Malaria have joined forces with the International Federation of Accountants (IFAC) to contribute to, and support, the implementation of robust accounting practices in the public health sector and to...

A recent study by the International Federation of Accountants (IFAC), in partnership with the AICPA and CIMA (representing the Association of International Certified Professional Accountants), has found a lack of standardization in sustainability assurance globally.

In Europe and other parts of the world, many organizations are required to report on ESG information, and a significant portion of ESG assurance is being performed by an audit firm or an affiliated provider, according to The State of Play in Sustainability Assurance: Benchmarking Global Practice, a...

Sustainability reporting standards, as well as assurance services to verify that reporting, vary widely across jurisdictions and individual practitioners and require better standardization, according to a new report.

The Index analyzes data from across 165 jurisdictions to understand the accounting bases and frameworks used in public sector financial reporting, specifically with a view to track the adoption of accrual reporting. By providing a comprehensive view of government finances, accrual reporting helps...

The report was drawn from the IFAC Index, which captures current and future use of public financial reporting bases and frameworks by governments around the world. The index found that while 30% of governments report on an accrual basis in 2020 (an increase of 6% since 2018), 50% will report on...

For professional accountants, mental health issues heighten the risk of not identifying errors in financial reports or spotting indicators of fraud. In this recent article, Russell Guthrie, CFO of the International Federation of Accountants (IFAC) expressed this opinion. 

To the consumer, digital transformation might appear seamless: new services and products appear all the time, and with the push of a button we discover new levels of convenience and efficiency. But behind every success story is hard work, careful planning, and constant adaptation. Given the...

The report, Groundbreakers: Gen Z and the future of accountancy, utilized data from 9,000 18- to 25-year-olds polled around the world. The majority of those surveyed were from the Asia Pacific and South Asia regions, female and ACCA students studying for their accounting/finance qualifications.