International Federation of Accountants IFAC

The International Federation of Accountants (IFAC) is the global organization for the accountancy profession. It works with its 173 member bodies in 129 countries and jurisdictions to protect the public interest by encouraging high quality practices by the world’s accountants. IFAC members and associates, which are primarily national professional accountancy bodies, represent 2.5 million accountants employed in public practice, industry and commerce, government, and academia. Its structure and governance provide for the representation of its diverse constituencies and interaction with external groups that rely on or influence the work of professional accountants. 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 developing nations. In addition, IFAC issues policy positions on topics of public interest and comment letters on matters relevant to the profession.