International Federation of Accountants is a global organization, uniting representatives of the accountancy profession (here and further in the text the literal translation of the word “accountant” is used, but a wider meaning of the term is meant, the one uniting all the representatives of the accounting profession, including auditors, accountants and other workers of the accounting and financial sectors – a note of the translator). In cooperation with its 159 members and associates in 124 countries around the world IFAC protects public interests by encouraging high quality practices by the world’s auditors and accountants. IFAC members and associates, which are primarily national professional audit and financial reporting bodies, represent 2,5million auditors and accountants employed in public practice, industry and commerce, government and academia.
What IFAC Does
Through its independent standard-setting boards, IFAC develops international standards on ethics, auditing and assurance, education, and public sector accounting standards. It also issues guidance to support professional accountants in business, small and medium practices, and for professional accountants in developing nations. In addition, IFAC issues policy positions on topics of public interest.
A fact sheet provides additional information about the organization and its role.
Structure and Governance
IFAC is committed to inclusivity. Its structure and governance, therefore, provide for the representation of its diverse constituencies and interaction with external groups that rely on or influence the work of professional accountants.
Mission and Strategy
To serve the public interest, IFAC will continue to strengthen the worldwide accountancy profession and contribute to the development of strong international economies by establishing and promoting adherence to high-quality professional standards, furthering the international convergence of such standards and speaking out on public interest issues where the profession's expertise is most relevant.
The IFAC 2009-2012 Strategic Plan outlines how IFAC will fulfill this mission and deliver value to its various constituencies - the public, members and associates, firms, regional accountancy organizations, and professional accountants worldwide.
IFAC's annual report details the activities it has undertaken over the past year to fulfill this mission and extent to which it has met its strategic objectives.