News and Publications

IFAC Comment Letter to the UK BEIS

IFAC Comment Letter to the UK BEIS

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IFAC welcomes the opportunity to comment on the Department of Business, Energy & Industrial Strategy Consultation on the Government’s proposal for Restoring trust in audit and corporate governance. The Government has put forth a very comprehensive assessment of issues that are relevant to restoring trust in both audit and corporate governance. We firmly support such…
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Using ISAE 3000 (Revised) in Sustainability Assurance Engagements

Using ISAE 3000 (Revised) in Sustainability Assurance Engagements

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Company-reported information about sustainability factors is becoming mainstream—through increased voluntary disclosure as well as through new jurisdiction-specific rules. Investors, as well as other stakeholders, need to have trust and confidence in this information through external assurance—just like financial information. The International Auditing and Assurance Standards Board’s International Standard on Assurance Engagements (ISAE) 3000 (Revised)—founded on…
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The State of Play in Sustainability Assurance

The State of Play in Sustainability Assurance

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As the drive toward a global system for sustainability-related reporting continues, investors, regulators and policymakers are turning their attention to the important role of assurance in ensuring high-quality reporting. With the growing importance of—and reliance on—sustainability information, low-quality assurance is an emerging investor protection and financial stability risk. IFAC and the AICPA & CIMA embarked on this…
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IESBA Global Webinar on the Non-Assurance Services Revisions to the IESBA Code

IESBA Global Webinar on the Non-Assurance Services Revisions to the IESBA Code

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On June 17, 2021 the IESBA hosted a webinar on the Non-Assurance Services revisions to the IESBA Code. In this 60-minute webinar the IESBA’s Non-Assurance Services (NAS) Task Force Chair, Mr. Richard Fleck and IESBA member and NAS Task Force Member, Ms. Kim Gibson explain the key changes to the revised NAS provisions of the Code.…
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IESBA Global Webinar on the Fee-related Revisions to the IESBA Code

IESBA Global Webinar on the Fee-related Revisions to the IESBA Code

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On June 16, 2021 the IESBA hosted a webinar on the fee-related revisions to the IESBA Code. In this 60-minute webinar the IESBA’s Deputy Chair and Fees Task Force member, Ms. Caroline Lee and IESBA member and the Fees Task Force Chair, Mr. Ian McPhee explain the key changes to the fee-related provisions of the Code.…
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June 2021 IESBA Working Group Briefing Paper

June 2021 IESBA Working Group Briefing Paper

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This Working Group Briefing Paper has been prepared by the IESBA Technology Working Group. The purpose of the paper is to provide stakeholders with background information on the IESBA’s multi-workstream technology initiative. It sets out, for informational purposes only, a number of questions which the Working Group plans to explore with a broad range of…
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IFAC Comment Letter to the US SEC

IFAC Comment Letter to the US SEC

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We applaud the Commission’s leadership in prompting this important conversation. IFAC supports including a broader range of information in corporate reporting so that organizations can communicate more effectively—and stakeholders can better understand—prospects for longer-term value creation. We believe that companies who adopt an “integrated mindset”—insight gained by management and those charged with governance from both…
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ISQM 1 First-Time Implementation Guide

ISQM 1 First-Time Implementation Guide

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This non-authoritative First-time Implementation Guide may help stakeholders understand the requirements of the International Standard on Quality Management (ISQM) 1, Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements, and implement the standard in the manner intended. Firms are required to have systems of quality…
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ISQM 2 First-Time Implementation Guide

ISQM 2 First-Time Implementation Guide

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This non-authoritative First-time Implementation Guide will help practitioners understand and implement the requirements of the International Standard on Quality Management (ISQM) 2, Engagement Quality Reviews. It will help practitioners and firms successfully plan and implement the standards by the effective date, December 15, 2022. It does not amend or override the International Standard on Quality…
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2020 Financial Statements

2020 Financial Statements

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IFAC's Financial Statements are prepared in accordance with International Public Sector Accounting Standards (IPSAS) and include an independent auditor’s report.
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