The 2025 handbook incorporates the tax planning pronouncement that became effective for tax planning services and activities beginning after June 30, 2025.
The International Ethics Standards Board for Accountants (IESBA) is an independent global standard-setting board. The IESBA’s mission is to serve the public interest by setting high-quality, international ethics (including independence) standards as a cornerstone to ethical behavior in business and organizations, and to public trust in financial and non-financial information that is fundamental to the proper functioning and sustainability of organizations, financial markets and economies worldwide.
The principles provide a practical framework for IFAC’s members and other professional accountancy organizations (PAOs) to welcome talent from diverse backgrounds, remove unnecessary barriers, and adapt qualification pathways—while maintaining the high standards that underpin public trust.
“The accountancy profession is enriched through talent drawn from the widest breadth possible,” said IFAC Chief Executive Officer Lee White. “I am excited by the opportunity Opening Doors creates to engage future talent in new ways and respond to the evolving workplace. Our members uphold the highest standards of integrity and quality, and together we are building a broader-based, innovative and connected profession—one that is forward-looking and equipped to sustain public trust.”
The Six Principles focus on:
Encouraging entry from diverse educational backgrounds.
Recognizing and valuing prior work experience.
Removing unnecessary barriers to access.
Offering flexible qualification formats and delivery.
Enabling career step-off points.
Driving global reciprocity and mobility.
Some IFAC members have already embedded these principles into their operating models, demonstrating how the principles can broaden access to the profession in practice. For others, Opening Doors likely marks a fresh approach—an opportunity to reimagine pathways into accountancy and strengthen engagement with future talent.
Adaptable to local contexts and regulatory environments, the principles reflect emerging best practices from around the world. By adopting them, PAOs can create more inclusive pathways into the profession—ensuring it remains future-ready, connected, and committed to delivering value to economies, markets, and society.
Opening Doors is also the first in a series of new IFAC initiatives that will help the profession remain competitive and reset how it engages with future talent. A panel discussion at IFAC’s upcoming IFAC Global Connect conference in November in Mexico City will also spotlight the principles and foster a dynamic discussion with IFAC members.
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.
We also extend our sincere gratitude to Linda de Beer for her dedicated leadership of the PIOB over the past five years. Her tenure coincided with a period of profound change, during which she oversaw the careful implementation of the Monitoring Group’s 2020 Recommendations and guided the PIOB’s oversight through a time of significant global challenge and transformation.
The IAASB and IESBA share with the PIOB a commitment to enhancing trust and confidence in the audit and accountancy profession and the information it provides to stakeholders worldwide. Under Ms. Modise’s leadership, we are confident that our close collaboration with the PIOB will continue to strengthen the international standard-setting system and deliver standards that serve the global public interest.
Gabriela Figueiredo Dias Chair, International Ethics Standards Board for Accountants (IESBA)
Co-CEO, International Foundation for Ethics and Audit (IFEA)
Tom Seidenstein Chair, International Auditing and Assurance Standards Board (IAASB)
Co-CEO, International Foundation for Ethics and Audit (IFEA)
The International Federation of Accountants (IFAC) in partnership with the Saudi Organization for Chartered and Professional Accountants (SOCPA), IFAC member, has convened leaders from across the Middle East and North Africa this week in Riyadh for IFAC Connect MENA 2025. The gathering brings together regulators, standard setters, professional accountancy organizations (PAOs), and stakeholders across the public and private sectors to share perspectives and identify practical ways the profession can advance integrity, innovation, and public value.
Today, regional regulators convened to exchange perspectives on how greater collaboration can accelerate the adoption and implementation of international accountancy standards and best practices across the region. PAOs shared forward-looking insights on modernizing education pathways, creating more inclusive workplaces, and defining clear professional development and leadership tracks to attract and retain top talent, particularly women.
On October 1, IFAC and SOCPA will engage with regional PAO leaders to build institutional capacity, sharpen relevance and credibility, and strengthen alignment with the public interest through clear value propositions and evidence-based communication. The IPSASB will also hold a roundtable to gather direct feedback from attendees on its work program.
On October 2, the main IFAC Connect MENA program will spotlight the global forces shaping the profession: corporate reporting transformation, technology, and artificial intelligence while deepening regional commitments to solutions that foster trust, resilience, and innovation.
Lee White, IFAC Chief Executive Officer, said: “The profession is facing unprecedented transformation. By convening regulators, PAOs, and business leaders in Riyadh, we are ensuring that global priorities are addressed with regional insight and leadership, and that PAOs in MENA move swiftly and boldly to shape solutions that serve the public interest.”
Dr. Ahmad Almeghames, CEO of SOCPA and IFAC Board Member, said: “Hosting IFAC Connect MENA reflects our commitment to advancing transparency, integrity, and innovation in line with Saudi Arabia’s Vision 2030. Through partnership with IFAC and our regional colleagues, we are ensuring the profession plays a central role in supporting both national and global priorities.”
IFAC Connect MENA follows a gathering in Nairobi this year and in Singapore, Bogotá, and Dubai in 2024. Later this year, the series will continue with IFAC Connect Global in Mexico City and IFAC Connect Asia-Pacific in Jakarta.
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.
About SOCPA
The Saudi Organization for Chartered and Professional Accountants (SOCPA) is Saudi Arabia’s leading professional accountancy body, committed to advancing professional competence, transparency, and accountability, while supporting the Kingdom’s Vision 2030 goals.
This pronouncement conforms the definition of the term material between the Conceptual Framework and within IPSASB’s authoritative guidance and lays the foundation for planned guidance on materiality judgments in financial reporting. It clarifies that general-purpose financial reports are prepared to meet the information needs of primary users for accountability and decision-making purposes.
