International Federation of Accountants (IFAC) is the global organization for the accountancy profession. IFAC has 167 members and associates in 127 countries and jurisdictions, representing more than 2.5 million accountants employed in public practice, industry and commerce, government, and academe. The organization, through its independent standard-setting boards, establishes international standards on ethics, auditing and assurance, accounting education, and public sector accounting. It also issues guidance to encourage high quality performance by professional accountants in business. Founded in 1977, IFAC celebrated its 30th anniversary in 2007.
To ensure the activities of IFAC and the independent standard setting bodies supported by IFAC are responsive to public interest, an international Public Interest Oversight Board (PIOB) was established in February 2005.
IFAC and its members collaborated to develop IFACnet, which was launched on October 2, 2006. IFACnet provides professional accountants worldwide with one-stop access to a wide range of resources, including good practice guidance, articles, and tools and techniques.
Among the key initiatives of IFAC is the organising of the World Congress of Accountants.
Famous quotes containing the word federation:
“Women realize that we are living in an ungoverned world. At heart we are all pacifists. We should love to talk it over with the war-makers, but they would not understand. Words are so inadequate, and we realize that the hatred must kill itself; so we give our men gladly, unselfishly, proudly, patriotically, since the world chooses to settle its disputes in the old barbarous way.”
—General Federation Of Women’s Clubs (GFWC)