What is International Federation of Accountants (IFAC)?

IFAC is the global organization for the accountancy profession. It is dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. IFAC has 167 members and associates in 127 countries around the world, representing approximately 2.5 million accountants in public practice, education, government services, industry and commerce.
INTERNATIONAL FEDERATION OF ACCOUNTANTS
IFAC provide the structure and processes that support the development, adoption and implementation of high quality standards. The standards IFAC supports – inĀ  areas of auditing, assurance and quality control, public sector accounting; accounting education and ethics – are an important part of global financial infrastructure and contribute to economic stability around the world. In addition, working closely with its member bodies, IFAC provides tools and guidance to support the professional accountants in business and small and medium practices.
IFAC supports the development of the accountancy profession in the emerging economies, and speaks out on public interest issues where the profession’s voice is most relevant. Through all of these activities, IFAC promotes its values of integrity, transparency and expertise.
IFAC includes the following boards:

  • IAASB: the international auditing and assurance standard board;
  • IAESB: the international accounting education standard board
  • IESBA: the international ethics standard board for accountants;
  • IPSASB: the international public sector accounting standard board.
  • IASB: the international accounting standard board

1 thought on “What is International Federation of Accountants (IFAC)?”

  1. Pingback: 5 means by which accountants can be encouraged to act in the public interest. - ACCA ONLINE ACCOUNTING TEACHER

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