Welcome to the International Federation of Accountants

Leading the development of the global profession
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About IFAC  

As the global organization for the accountancy profession, IFAC is committed to protecting the public interest by developing high quality international standards, promoting strong ethical values, encouraging quality practice, and supporting the development of all sectors of the profession around the world.
Global Accountancy News  
Of Special Interest  
  • Robert Bunting Assumes IFAC Presidency - Robert Bunting of the United States assumed the Presidency of IFAC at its Council meeting in Rome, Italy on November 13, 2008. Mr. Bunting, who will serve a two-year term as President, was IFAC Deputy President from November 2006 to November 2008 and served as a member of the IFAC Board beginning in November 2005. Click here for Mr. Bunting's biography.
  • Fair Value Audit Practice Alert Released - IFAC's International Auditing and Assurance Standards Board (IAASB) staff has released a practice alert, Challenges in Auditing Fair Value Accounting Estimates in the Current Market Environment. The alert highlights areas within the ISAs that are particularly relevant to fair value audits. The practice alert, may be downloaded free-of-charge from the IAASB section of the IFAC website (www.ifac.org/iaasb).
  • IFAC Supports Single Set of Auditing Standards - The International Federation of Accountants (IFAC) has issued a policy paper titled IFAC's Support for a Single Set of Auditing Standards: Implications for Audits of Small and Medium-sized Entities. The paper explains IFAC’s position that International Standards on Auditing (ISAs) are designed to be applicable to the audits of entities of all sizes. All policy positions may be downloaded from the IFAC website by going to http://www.ifac.org/Store/.
Membership  

IFAC is comprised of 158 members and associates in 122 countries and jurisdictions, representing over 2.5 million accountants. Member bodies participate in IFAC's Member Body Compliance Program, demonstrating their commitment to promoting high quality standards for the world's accountants. Member and associate responses to Parts 1 and 2 of the Compliance Program, and action plans developed to further convergence and meet other IFAC membership requirements, have been posted to IFAC's website.

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