As mandatory disclosure requirements become the norm for global organisations, the International Federation of Accountants (IFAC) and other entities have collaborated to release new guidance for delivering robust greenhouse gas (GHG) reporting.
Last month, IFAC was accepted as an Affiliate Member of the International Organization of Securities Commissions (IOSCO). This marks a significant step in IFAC’s ability to work with other international organizations for the public interest, and to elevate the voice of the global accountancy profession with key global stakeholders. IFAC is the sole representative of the accountancy profession within the IOSCO membership.
IOSCO is the international body that brings together the world's securities regulators and is recognized as the global standard setter for the securities sector. IOSCO develops, implements and promotes adherence to internationally recognized standards for securities regulation. IOSCO was established in 1983 and has 238 Members.
IOSCO’s Ordinary members include securities regulators in over 130 jurisdictions. The Affiliate Membership category includes self-regulatory organizations (SROs), securities exchanges and markets infrastructure, and other international bodies with a direct interest in securities regulation.
Affiliate Member status enables IFAC to participate in the IOSCO Affiliate Members Consultative Committee (AMCC), which is a platform for Affiliate Members to provide important perspective into IOSCO’s regulatory policy work, as well as to share experiences and enhance cooperation amongst Affiliate Members. IFAC can also participate as an observer at the IOSCO Presidents Committee meeting.
“IOSCO is a global leader on key IFAC priorities like investor protection, corporate reporting, audit quality, sustainability and financial literacy,” said Kevin Dancey, Chief Executive Officer at IFAC. “By joining IOSCO as an Affiliate Member, IFAC looks to strengthening the accountancy profession’s engagement on these and other key topics at both the global and jurisdictional levels.”
About IFAC
IFAC is the global organization for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. IFAC is comprised of 180 members and associates in 135 countries and jurisdictions, representing more than 3 million accountants in public practice, education, government service, industry, and commerce.
Membership Brings Voice of Accountancy Profession to Global Regulatory Community
The International Ethics Standards Board for Accountants (IESBA) and the International Auditing and Assurance Standards Board (IAASB) applaud the Public Interest Oversight Board’s (PIOB’s) recent appointment Alan Johnson to be the inaugural chair of the new Stakeholder Advisory Council (SAC). Mr. Johnson brings a wealth of international experience to this new role, including as a former Trustee of the International Foundation for Ethics and Audit; as a chief executive, non-executive director, and audit and risk assurance committee chair; and as past president of the International Federation of Accountants.
In commenting on Mr. Johnson’s appointment and the creation of the SAC, Gabriela Figueiredo Dias and Tom Seidenstein, IESBA and IAASB Chairs, respectively, stated, “The IESBA and IAASB will benefit greatly from this newly created, diverse forum that will advise us on our strategies and projects. We very much look forward to working with Alan and benefiting from his unique experience and perspectives and from his insights which will ensure our Boards remain responsive to the public interest.”
The International Ethics Standards Board for Accountants (IESBA) and the International Auditing and Assurance Standards Board (IAASB) applaud the Public Interest Oversight Board’s (PIOB’s) recent appointment of Alan Johnson to be the inaugural chair of the new Stakeholder Advisory Council (SAC). Mr. Johnson brings a wealth of international experience to this new role, including as a former Trustee of the International Foundation for Ethics and Audit; as a chief executive, non-executive director, and audit and risk assurance committee chair; and as past president of the International Federation of Accountants.
In commenting on Mr. Johnson’s appointment and the creation of the SAC, Gabriela Figueiredo Dias and Tom Seidenstein, IESBA and IAASB Chairs respectively, stated, “The IESBA and IAASB will benefit greatly from this newly created, diverse forum that will advise us on our strategies and projects. We very much look forward to working with Alan and benefiting from his unique experience and perspectives and from his insights which will ensure our Boards remain responsive to the public interest.”
This Questions and Answers (Q&A) publication is issued by the staff of the International Public Sector Accounting Standards Board (IPSASB) to provide insight on the financial reporting for certain contingencies and financial guarantees. This publication highlights the relevant IPSAS guidance already available to aid constituents in accounting for these transactions.
