As the global organization for the accountancy profession, IFAC is committed to protecting the public interest by developing high-quality international standards, promoting strong ethical values, encouraging quality practice, and supporting the development of all sectors of the profession around the world. To learn more about IFAC's mission and values, view the IFAC Video.
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- Proposed Predictive Analytics Guidance Highlights Importance of Anticipating the Future - The Professional Accountants in Business Committee has released a new exposure draft, Predictive Business Analytics: Forward-Looking Measures to Improve Business Performance. The guidance is designed to help professional accountants working in commerce, industry, financial services, education, and the public and not-for-profit sectors, as well as their organizations, embrace predictive analytics to achieve better forward-looking performance insights.
- IAASB Issues Enhanced Overarching Assurance Standard For Comment - The International Auditing and Assurance Standards Board (IAASB) recently released proposed revised International Standard on Assurance Engagements (ISAE) 3000, Assurance Engagements Other Than Audits or Reviews of Historical Financial Information, for public comment. This principles-based standard can be applied effectively to a broad range of assurance engagements. The comment deadline is September 1, 2011.
- IAESB Invites Comment on Two Proposed IES Revisions - The IAESB has released the following exposure drafts: International Education Standard (IES) 4, Professional Values, Ethics, and Attitudes, which proposes the development of professional values, ethics, and attitudes be addressed by learning and development activities that occur throughout the career of the professional accountant and IES 6, Assessment of Professional Competence, which will assist professional accountancy organizations to understand both the learning and development requirements for areas of assessment of professional competence, and their obligations in upholding the standard. The deadline for comment is July 15, 2011.
IFAC is comprised of 164 members and associates in 125 countries and jurisdictions, representing over 2.5 million accountants. Member bodies participate in IFAC's Member Body Compliance Program, demonstrating their commitment to promoting high quality standards for the world's accountants. Member and associate responses to Parts 1 and 2 of the Compliance Program, and action plans developed to further convergence and meet other IFAC membership requirements, have been posted to IFAC's website.
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