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International Federation of Accountants

The International Federation of Accountants (IFAC) is the global organization for the accountancy profession. Founded in 1977, IFAC has over 187 members and associates in 140 jurisdictions, representing more than 3 million accountants in public practice, education, government service, industry, and commerce. The organization supports the development, adoption, and implementation of international standards for accounting education, ethics, and the public sector as well as audit and assurance. It supports four independent standard-setting boards, which establish international standards on ethics, auditing and assurance, accounting education, and public sector accounting. It also issues guidance to professional accountants in small and medium business accounting practices.

Standard-setting Boards
International Auditing and Assurance Standards Board The International Auditing and Assurance Standards Board or IAASB is an independent standard-setting board that develops the International Standards on Auditing. The IAASB's objective, the scope of activities, and membership are set out in its Terms of Reference. The Public Interest Oversight Board oversees the work of the IAASB. International Ethics Standards Board for Accountants The International Ethics Standards Board for Accountants or IESBA develops a Code of Ethics for Professional Accountants to be followed by professional accountants throughout the world. International Public Sector Accounting Standards Board The International Public Sector Accounting Standards Board or IPSASB develops the International Public Sector Accounting Standards (IPSAS). International Accounting Education Standards Board The International Accounting Education Standards Board or IAESB develops uniform guidelines for education, training, and continuing professional development. National professional accounting organizations are required to consider these educational standards while formulating their educational systems. ==See also==
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