Who We Are

With our member organizations, we serve the public interest by enhancing the relevance, reputation, and value of the global accountancy profession.

  • Constitution & Bylaws

    IFAC's Constitution and Bylaws detail the responsibilities and authority of IFAC's Council, Board, and Board subcommittees. They also address IFAC’s mission, membership requirements, and the election/appointment of IFAC Officers. These documents were revised in 2013 to ensure that IFAC continues to embrace best practices and enable timely action by improving governance structure, clarifying the roles and responsibilities of IFAC in standard setting in the public interest, and ensuring IFAC continues to have broad representation from all parts of the profession. These versions of the IFAC Constitution and Bylaws were approved by the IFAC Council in February 2014, and a subsequent revision of the IFAC Bylaws was approved by the IFAC Council in November 2017.

    Download the IFAC Constitution

    Download the IFAC Bylaws

  • Strategic Plan

    There is an urgent need and a real opportunity for the accountancy profession to speak into the public conversation about rebuilding trust, with an authority built on decades of acting in the public interest and advocating for transparency and accountability. As an organization committed to time-tested values of integrity, expertise and transparency, IFAC plays a critical leadership role in building trust and inspiring confidence in the profession’s future.

    Working with and leveraging the efforts of its member organizations and others within its global network, IFAC will proactively address emerging challenges and opportunities for professional accountants as the global accountancy profession addresses rapid disruptive change.

    View Strategic Plan for 2019-2020

  • Annual Review
    Delivering Value through Our Global Network

    IFAC advocates globally for integrated reporting because it is helps organizations deliver higher-quality information with real meaning. Information that serves the public interest by telling a clearer value creation and preservation story to stakeholders, employees, investors and capital markets, and, ultimately, to the communities they serve.

    IFAC’s 2018 integrated annual review helps us remain accountable to our member organizations and stakeholders. It also improves understanding of our strategic objectives and achievements, and their connection to the overarching key outcomes IFAC—on behalf of our members—seeks to advance.

    The review provides information on our financial, human, intellectual, and social and relationship capitals alongside how we create value through our governance, strategy, resource deployment, and key activities. It continues our efforts to work with the integrated reporting principles and concepts IFAC advocates for globally, as set out in the International Integrated Reporting Council’s Integrated Reporting Framework. As part of the journey, the IFAC Board provided directional input and review.

    This review is part of our 2018 reporting suite, which also comprises our Financial Statements for the year ended December 31, 2018.

    View 2018 Annual Review View 2017 Annual Review View 2016 Annual Review View 2015 Annual Review View 2014 Annual Review View 2013 Annual Review View 2012 Annual Report View 2011 Annual Report View 2010 Annual Report View 2009 Annual Report View 2008 Annual Report
  • Financial Statements

    IFAC's Financial Statements are prepared in accordance with International Public Sector Accounting Standards® (IPSAS®) and include an independent auditor’s report.

    View 2018 Financial Statements View 2017 Financial Statements View 2016 Financial Statements View 2015 Financial Statements View 2014 Financial Statements View 2013 Financial Statements
  • Founding History

    Beginning with 63 founding members from 51 countries in 1977, IFAC's membership has grown to now include over 175 members and associates in more than 135 countries and jurisdictions worldwide.*

    IFAC was founded on October 7, 1977, in Munich, Germany, at the 11th World Congress of Accountants to strengthen the global accountancy profession in the public interest by:

    • Developing high-quality international standards in auditing and assurance, public sector accounting, ethics, and education for professional accountants and supporting their adoption and use;
    • Facilitating collaboration and cooperation among its member bodies;
    • Collaborating and cooperating with other international organizations; and
    • Serving as the international spokesperson for the accountancy profession.

    At the first meeting of the IFAC Assembly and Council in October 1977, a 12-point work program was developed to guide IFAC committees and staff through the first five years of activities. Many elements of this work program are still relevant today.

    1. Develop statements which serve as guidelines for international and auditing guidelines
    2. Establish the basic principles which should be included in the code of ethics of any member body of IFAC and to refine or elaborate on such principles as deemed appropriate
    3. Determine the requirements and develop programs or the professional education and training of accountant
    4. Collect, analyze, research, and disseminated information on the management of public accounting practices to assist practitioners in more effectively conducting their practices
    5. Evaluate, develop, and report on financial management and other management techniques and procedures
    6. Undertake other studies of value to accountants, such as a possible study on the legal liabilities of auditors
    7. Foster closer relationships with users of financial statements including preparers, trade unions, financial institutions, industry, governments, and others
    8. Maintain good relations with regional organizations and explore the potential for establishing other regional organizations, as well as assisting in their organizations and development
    9. Establish regular communications among the members of IFAC and other interested organizations, principally through an IFAC Newsletter
    10. Organize and promote the exchange of technical information, educational materials and professional publications, and other literature emanating from member bodies
    11. Organize and conduct an international congress of accountants approximately every five years
    12. Seek to expand the membership of IFAC 

     

    *As of November 2018

  • Founding Members

    The following 63 professional accountancy bodies were founding members of IFAC in October 1977.

    Country
    Member Body 
    ArgentinaFederacíon Argentina de Colegios de Graduados en Ciencias Económic
    AustraliaThe Institute of Chartered Accountants in Australia
     Australian Society of Accountants (now CPA Australia)
    Bangladesh The Institute of Chartered Accountants of Bangladesh
    BelgiumCollege National de Experts Comptables de Belgique (now the Institut des Experts-comptables et des Conseils fiscaux)
     Institut des Reviseurs d'Enterprises
    Brazil Instituto dos Auditores Independentes do Brasil
    CanadaCertified General Accountants Association of Canada
     The Canadian Institute of Chartered Accountants§
     The Society of Management Accountants of Canada (now CMA Canada§)
    Chinese TaiwanThe Federation of CPA Associations of Chinese Taiwan
    ColombiaInstituto Nacional de Contadores Públicos de Colombia
    CyprusThe Institute of Certified Public Accountants of Cyprus
    DenmarkForeningen af Statsautoriserede Revisorer (now FSR-danske revisorer)
    FijiFiji Institute of Accountants
    FinlandKHT-yhdistys - Föreningen CGR
    France 

    Ordre des Experts Comptables et des Comptables Agrees (now the Conseil Supérieur de l'Ordre des Experts-Comptables) 

    Germany

    Institut der Wirtschaftsprüfer in Deutschland e.V.
    GhanaThe Institute of Chartered Accountants (Ghana)
    GreeceInstitute of Certified Public Accountants of Greece
    Hong Kong*

    Hong Kong Society of Accountants (now the Hong Kong Institute of Certified Public Accountants)

    IcelandFélag loggiltra Endurskoðend
    India The Institute of Chartered Accountants of India 
     The Institute of Cost and Works Accountants of India (now The Institute of Cost Accountants of India)
    IndonesiaIndonesian Institute of Accountants
    IrelandThe Institute of Certified Public Accountants in Ireland
     The Institute of Chartered Accountants in Ireland (now Chartered Accountants Ireland)
    Israel The Institute of Certified Public Accountants in Israel
    ItalyConsiglio Nazionale dei Dottori Commercialisti (now Consiglio nazionale dei Dottori commercialisti e degli Esperti contabili)
    JamaicaThe Institute of Chartered Accountants of Jamaica
    JapanThe Japanese Institute of Certified Public Accountants
    LebanonThe Middle East Society of Associated Accountants (former member of IFAC)
    LuxembourgOrdre des Experts Comptables Luxembourgeois
    Malaysia Malaysian Institute of Accountants
     

    The Malaysian Association of Certified Public Accountants (now the Malaysian Institute of Certified Public Accountants)

    MaltaThe Malta Institute of Accountants
    MexicoInstituto Mexicano de Contadores Publicos, A.C.
    NetherlandsNederlands Instituut van Registeraccountants (now the Nederlandse Beroepsorganisatie van Accountants)
    New Zealand 

    New Zealand Society of Accountants (now the New Zealand Institute of Chartered Accountants)

    Nigeria 

    The Institute of Chartered Accountants of Nigeria
    Norway 

    Norges Statsautoriserte Revisorers Forening (now Den norske Revisorforening)

    Pakistan Institute of Chartered Accountants of Pakistan
     Institute of Cost and Managements Accountants of Pakistan
    PanamaColegio de Contadores Públicos Autorizados de Panama
    ParaguayColegio de Contadores de Paraguay
    PhilippinesPhilippine Institute of Certified Public Accountants
    Rhodesia†The Rhodesia Society of Chartered Accountantsǂ
    Singapore

    Singapore Society of Accountants (now the Institute of Certified Public Accountants of Singapore)

    South Africa 

    The National Council of Chartered Accountants (now the South African Institute of Chartered Accountants)

    SpainInstituto de Censores Juradoes de Cuentas de España
    Sweden Foreningen Auktoriserade Revisorer (now FAR) 
    Switzerland

    Schweizerische Treuhand-und Revisionskammer (now Treuhand-Kammer)

    Trinidad and TobagoThe Institute of Chartered Accountants of Trinidad and Tobago
    TurkeyExpert Accountants' Association of Turkey
    United Kingdom 

    The Association of Certified Accountants (now the Association of
    Chartered Certified Accountants)

     The Chartered Institute of Public Finance & Accountancy
     The Institute of Chartered Accountants in England & Wales
     The Institute of Chartered Accountants of Scotland
     

    The Institute of Cost and Management Accountants (now the Chartered Institute of Managements Accountants)

    United StatesAmerican Institute of Certified Public Accountants
    Uruguay

    Colegio de Doctores en Ciencias Económicas y Contadores del Uruguay (now the Colegio de Contadores, Economistas y Administradores del Uruguay)

    Venezuela Associacíon de Contadores de Venezuela (former member of IFAC)
     Federacíon de Colegio de Contadores Públicos de Venezuela (former member of IFAC)

     

    * Hong Kong Special Administrative Region of People's Republic of China

    † Now Zimbabwe

    ǂ Now recognized as The Institute of Chartered Accountants of Zimbabwe

    § Now recognized as Chartered Professional Accountants of Canada (CPA Canada) following a merger in 2013 between the Canadian Institute of Chartered Accountants and CMA Canada.

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