A strong and well-governed professional accountancy organization (PAO) produces and sustains a strong accountancy profession that is able to serve the public interest and contribute to economic stability and growth. A successful PAO gains much of its strength from the sense of identity, benefits, and rights that members derive from membership; and from the contributions that individual members and firms make to the PAO in recognition of its public interest perspective.

This third edition of the guide features enhancements to the two sample manuals, as well as other refinements for clarity and consistency with International Standard on Quality Control (ISQC) 1. The guide contains the requirements set out in ISQC 1 in addition to implementation guidance, including discussion material and an integrated case study that can be used as the basis for education and training.

The International Bar Association (IBA) and the International Federation of Accountants (IFAC) have today launched a pioneering new initiative aimed at supporting legal and accountancy professional bodies in the fight against money laundering. 

This pilot workshop, which is the first in a planned global series of regional AML capacity building events, brings together representatives from the accountancy and legal professions in a shared learning environment designed to help strengthen national AML systems.

The three-day programme, with over 70 delegates from bar associations and professional accountancy bodies from 22 jurisdictions in the Caribbean region and beyond, is being held in the Cayman Islands between October 28-30. It is supported by the Financial Action Task Force (FATF), the global AML standard setter, and CFATF, its regional affiliate, and is being hosted by the Cayman Islands Institute of Professional Accountants (CIIPA) and the Legal Services Supervisory Authority (LSSA), with the sponsorship of the Cayman Islands Ministry of Financial Services. 

The workshop agenda, which comprises panel sessions, lectures, and collaborative breakout activities, aims to:

• Enhance the ability of professional bodies to educate and equip their members with relevant AML requirements and expectations;
• Empower professional associations to partner more effectively with key AML stakeholders, including government agencies and financial intelligence units; and
• Support professional bodies in undertaking or preparing for AML supervisory responsibilities where applicable.

Steven Richman, Chair of the IBA’s Bar Issues Commission, commented: ‘This initiative underscores the critical role that the accountancy and legal professions play in combatting money laundering and strengthening the integrity of the global financial system as a whole. Sharing ideas and working together is crucial to stamping out this corrupt practice.’

"IFAC, by connecting and uniting its members, makes the accountancy profession’s contributions to the fight against money laundering truly global.  Through our partnership with the FATF and IBA, we aim to equip our member professional bodies with the tools and networks they need to be AML leaders in their jurisdictions," said Scott Hanson, Director of Policy & Global Engagement of IFAC.

Media Contact

For further information or media inquiries, please contact:

• Scott Hanson, Director, IFAC – scotthanson@ifac.org
• Sara Carnegie, International Bar Association – sara.carnegie@int-bar.org

About the International Bar Association (IBA)

The International Bar Association (IBA), the global voice of the legal profession, is the foremost organisation for international legal practitioners, bar associations and law societies. Established in 1947, shortly after the creation of the United Nations, it was born out of the conviction that an organisation made up of the world's bar associations could contribute to global stability and peace through the administration of justice.

About IFAC

IFAC, by connecting and uniting its members, makes the accountancy profession truly global.

IFAC member organizations are champions of integrity and professional quality, and proudly carry their membership as a badge of international recognition.

IFAC and its members work together to shape the future of the profession through learning, innovation, a collective voice, and commitment to the public interest.

The International Federation of Accountants (IFAC), the International Organization of Supreme Audit Institutions (INTOSAI), and the INTOSAI Development Initiative (IDI) have signed a Memorandum of Understanding (MoU) at the XXV INCOSAI meeting in Sharm El Sheikh, Egypt.

The MoU formalizes collaboration between the three organizations to enhance the quality of public sector auditing and strengthen transparency and accountability in government activities—fostering good governance and promoting the economy, effectiveness, and efficiency of government programs for the benefit of all.

The agreement underscores a shared commitment to strengthen public financial management, promote high-quality international standards, and build capacity within Supreme Audit Institutions (SAIs) and the broader accountability profession.

Under the MoU, IFAC, INTOSAI, and IDI endeavor to :

• Collaborate on issues of mutual interest to promote sound public financial management, support each other’s efforts to promote the adoption and implementation of their standards, and foster partnerships between INTOSAI and IFAC members to strengthen public sector accountancy and audit capacity;
• Exchange relevant knowledge, experience, and best practices;
• Explore opportunities to convene or contribute to joint events, forums, and dialogues to advance shared objectives and engage stakeholders;
• Cooperate in engagements with donors and development partners to leverage synergies in capacity-building projects that support all three parties’ objectives; and
• Promote relevant initiatives and publications.

This partnership builds on a long history of cooperation between the global accountancy profession and the public sector audit community, recognizing their complementary roles in advancing integrity, trust, and effective governance.

Lee White, Chief Executive Officer, IFAC said:  “This MoU is a milestone in our ongoing collaboration with INTOSAI and IDI. Public sector accountability is fundamental to trust in government and citizens’ confidence in how public resources are managed. Together, we are reinforcing the bridge between the accountancy profession and Supreme Audit Institutions to strengthen integrity, transparency, and the quality of public sector reporting and assurance globally.”

Dr Margit Kraker, Secretary General, INTOSAI said:  "INTOSAI welcomes this strengthened collaboration with IFAC and IDI. This agreement is a reflection of our mutual confidence and our conviction that collaboration is central to lasting progress. By pooling our knowledge, experience, and resources, we are laying a strong foundation for sustainable and impactful results. Let us approach this partnership with commitment and confidence — for the benefit of our institutions, our partners, and ultimately, the citizens we serve."

Einar Gørrissen, Director General, IDI said: “As an INTOSAI body, the IDI is pleased to formalize this partnership with IFAC. Our collaboration is rooted in a shared commitment to support independent, professional, and credible Supreme Audit Institutions ensuring trust in public institutions. We look forward to working together for capacity development, standard-setting support, and advocacy, for contributing to stronger, more resilient institutions that are essential for better societies and improved lives.”

About IFAC

IFAC, by connecting and uniting its members, makes the accountancy profession truly global.

IFAC member organizations are champions of integrity and professional quality, and proudly carry their membership as a badge of international recognition.

IFAC and its members work together to shape the future of the profession through learning, innovation, a collective voice, and commitment to the public interest.

More and more, SME clients are turning to their accountants not just for compliance, but for insights, clarity, and strategic partnership as uncertainty, competition, and complexity continue to shape their business environments. As a result, many practitioners find themselves asking: “How do I move from tax and reporting to deeper advisory services without feeling like a salesperson?”

The International Federation of Accountants (IFAC) convened the inaugural meeting of the Global Investor Group (GIG) in Tokyo on October 20, 2025, bringing together senior leaders from the investor community, the global accountancy profession, regulators, and capital market institutions. IFAC’s GIG aims to foster open and ongoing dialogue between the profession and investors to ensure assurance remains trusted, relevant, and aligned with the evolving needs of capital markets.

The first meeting was graciously hosted by the Japanese Institute of Certified Public Accountants (JICPA) and held with the support of Norges Bank Investment Management (NBIM), the Japan Exchange Group (JPX)/Tokyo Stock Exchange, and under the endorsement of the Japanese Financial Services Agency (JFSA) as part of Japan Weeks 2025.

Naruhito Minami, Chair and President of the JICPA said in his welcome address: “Dialogue between investors and auditors is not just about information exchange — it is about strengthening trust, improving audit quality, and enhancing transparency. At JICPA, we believe that providing reliable sustainability information is essential for investors to evaluate a company's long-term value creation. Consequently, the roles of auditors and the scope of dialogue between investors and auditors are expanding.”

“Today’s discussions confirmed why the Global Investor Group GIG matters — the profession and investors share the same ultimate goal: trustworthy, relevant information that supports sound decision-making,” said Lee White, IFAC Chief Executive Officer. “GIG is about creating a trusted space for real dialogue between investors and the accountancy profession — open, honest, and focused on solutions. By aligning investor needs and market priorities, we can help close the expectation gap with assurance and strengthen the trust and transparency that global markets depend on.”

This was echoed by Koji Watanabe, Director of the Listing Department, Tokyo Stock Exchange, Inc. (TSE), who added “Exchanges, regulators, auditors, and companies all share the responsibility to provide information that is accurate, timely, and useful. The Global Investor Group is a timely initiative. By working together, we can make audit reports more useful, connect sustainability information to financial statements, and build stronger partnerships in our markets. I hope today’s discussion will start a stronger partnership between investors and auditors, and help strengthen capital markets worldwide.”

The Chief Accountant, Director for International Accounting of the JFSA, Koichiro Kuramochi noted: “Hosting such international dialogue here in Japan is not only timely, but also essential to deepening mutual understanding and collaboration with global market participants. The Japan FSA places great importance on engaging with overseas investors and stakeholders in the capital markets. We are committed to strengthening these communications further, and today’s meeting marks a significant step forward in that direction. We hope that it will serve as a foundation for future collaboration between investors and the accounting profession.”

Jeanne Stampe, Lead Policy Advisor, Active Ownership at Norges Bank Investment Management concluded: “In an increasingly complex investment landscape, audit reports provide investors with critical insights into the judgments and assumptions underlying financial results. Alignment between investors and the auditor community will empower investors to engage effectively with board audit committees. The GIG can facilitate constructive dialogue on enhancing how audit findings reach investors, ultimately strengthening governance and supporting better capital allocation decisions.”

The meeting focused on how to help bridge the assurance expectation gap—the difference between what investors expect from assurance and what the profession delivers or is perceived to deliver. Through a structured roundtable held under the Chatham House Rule, participants explored critical questions about the role of assurance in enhancing trust, especially regarding:

• The connectivity between sustainability-related and financial information and their assurance,
• Audit scope, Key Audit Matters and independence,
• Engagement with audit committees, and
• Transparency in auditor communications.

The GIG’s primary objective is to serve as a trusted, informal forum where investors and assurance providers can engage openly.

In terms of next steps, input from this inaugural meeting will help shape the Terms of Reference of the GIG and its 2026 workplan, and ensure the GIG remains responsive to both investor priorities and market developments.

About IFAC
IFAC, by connecting and uniting its members, makes the accountancy profession truly global.

IFAC member organizations are champions of integrity and professional quality, and proudly carry their membership as a badge of international recognition.

IFAC and its members work together to shape the future of the profession through learning, innovation, a collective voice, and commitment to the public interest.

The International Federation of Accountants (IFAC) today announced the appointment of Helene Agélii (Sweden) as Chair of the Small and Medium Practices Advisory Group (SMP AG), Sinéad Donovan (Ireland) as Chair of the International Panel on Accountancy Education (IPAE), and Josephine Okui Ossiya (Uganda) as Chair of the Professional Accountants in Business Advisory Group (PAIB AG). Each brings a wealth of leadership experience and proven records of advancing the global accountancy profession.

“We are delighted to welcome Sinéad, Josephine, and Helene—three outstanding members of the global accountancy community,” said Jean Bouquot, IFAC President. “Each has demonstrated exceptional leadership in advancing our profession and supporting the public interest, our members, and our collective mission. Their perspectives will be invaluable as we work together to shape the future of accountancy through learning, innovation, and a collective voice. I also extend my deep gratitude to the outgoing chairs for their dedicated service and impactful contributions.”

Ms. Helene Agélii, Incoming Chair, Small and Medium Practices Advisory Group

Ms. Agélii arrives with extensive experience in a variety of leadership roles in the accountancy profession. As Secretary General of the Nordic Federation of Public Accountants, she has deepened the collaborative relationships between the national accountancy bodies in the Nordic countries and, on the global stage, was a strong advocate for the development of an international auditing standard suitable for smaller and less complex entities—a need that was subsequently recognized and addressed by the International Auditing and Assurance Standards Board (IAASB). Ms. Agélii previously served as general counsel for the Swedish Institute for Professional Accountants (FAR), as a technical advisor to the IAASB, as a member of the International Ethics Standards Board for Accountants (IESBA), and in multiple capacities with IFAC, including within the SMP AG. She has applied her background in law as an expert advisor for Swedish government bodies on implementing EU audit regulations into Swedish law.

Ms. Sinéad Donovan, Incoming Chair, International Panel on Accountancy Education

Ms. Donovan brings with her a distinguished record in professional leadership and contribution to the accountancy profession. As former Chair and Partner at Grant Thornton Ireland, Ms. Donovan led the firm through transformative growth across multiple international markets. She has been significantly involved in the development of the accountancy profession in Ireland, including terms as President of Accounting Technicians Ireland and Chartered Accountants Ireland (CAI), the latter coinciding with the amalgamation of CAI and CPA Ireland. Her longstanding commitment to accountancy education includes serving as Chair of the Education Board at CAI, where she championed curriculum modernization and university engagement.

Mrs. Josephine Okui Ossiya, Incoming Chair, Professional Accountants in Business Advisory Group

Mrs. Josephine Okui Ossiya brings a distinguished record of leadership in finance, capital markets, and governance across Africa. Currently serving as Chief Executive Officer of the Capital Markets Authority Uganda, she has held senior executive roles including Chief Finance Officer of Bujagali Energy Limited, Finance Director at Eskom Uganda, and CFO and Head of Finance at ATC Ghana. A committed leader in the accountancy profession, Mrs. Ossiya is the immediate Past President of Council of the Institute of Certified Public Accountants of Uganda, a Fellow of ACCA (UK), and a founding member of the Institute of Internal Auditors Uganda. She also contributes to public service through her board role at the Bank of Uganda, where she chairs key committees, and through her work in education and entrepreneurship.

Nominated by IFAC’s member organizations, these new chairs represent some of the profession’s most respected leaders and reinforce the global reach of IFAC’s network. Together with its members, IFAC works to shape the future of accountancy through learning, innovation, and a collective voice—always with a commitment to integrity, quality, and the public interest. Membership in IFAC is not only a mark of international recognition, but also a symbol of the profession’s unity and shared responsibility as a truly global force.

About IFAC

IFAC, by connecting and uniting its members, makes the accountancy profession truly global.

IFAC member organizations are champions of integrity and professional quality, and proudly carry their membership as a badge of international recognition.

IFAC and its members work together to shape the future of the profession through learning, innovation, a collective voice, and commitment to the public interest.

The International Federation of Accountants (IFAC), with support from the Global Public Policy Committee (GPPC), has released Opening Doors: Six Principles of Best Practice to Increase Access to Accountancy Qualifications.

The principles provide a practical framework for IFAC’s members and other professional accountancy organizations (PAOs) to welcome talent from diverse backgrounds, remove unnecessary barriers, and adapt qualification pathways—while maintaining the high standards that underpin public trust.

“The accountancy profession is enriched through talent drawn from the widest breadth possible,” said IFAC Chief Executive Officer Lee White. “I am excited by the opportunity Opening Doors creates to engage future talent in new ways and respond to the evolving workplace. Our members uphold the highest standards of integrity and quality, and together we are building a broader-based, innovative and connected profession—one that is forward-looking and equipped to sustain public trust.”

The Six Principles focus on:

• Encouraging entry from diverse educational backgrounds.
• Recognizing and valuing prior work experience.
• Removing unnecessary barriers to access.
• Offering flexible qualification formats and delivery.
• Enabling career step-off points.
• Driving global reciprocity and mobility.

Some IFAC members have already embedded these principles into their operating models, demonstrating how the principles can broaden access to the profession in practice. For others, Opening Doors likely marks a fresh approach—an opportunity to reimagine pathways into accountancy and strengthen engagement with future talent.

Adaptable to local contexts and regulatory environments, the principles reflect emerging best practices from around the world. By adopting them, PAOs can create more inclusive pathways into the profession—ensuring it remains future-ready, connected, and committed to delivering value to economies, markets, and society.

Opening Doors is also the first in a series of new IFAC initiatives that will help the profession remain competitive and reset how it engages with future talent. A panel discussion at IFAC’s upcoming IFAC Global Connect conference in November in Mexico City will also spotlight the principles and foster a dynamic discussion with IFAC members.

About IFAC
IFAC, by connecting and uniting its members, makes the accountancy profession truly global.

IFAC member organizations are champions of integrity and professional quality, and proudly carry their membership as a badge of international recognition.

IFAC and its members work together to shape the future of the profession through learning, innovation, a collective voice, and commitment to the public interest.

Opening Doors: Six Principles of Best Practice to Increase Access to Accountancy Qualifications provides a practical framework for IFAC’s members and other professional accountancy organizations (PAOs) to welcome talent from diverse backgrounds, remove unnecessary barriers, and adapt qualification pathways—while maintaining the high standards that underpin public trust.

The International Federation of Accountants (IFAC) in partnership with the Saudi Organization for Chartered and Professional Accountants (SOCPA), IFAC member, has convened leaders from across the Middle East and North Africa this week in Riyadh for IFAC Connect MENA 2025. The gathering brings together regulators, standard setters, professional accountancy organizations (PAOs), and stakeholders across the public and private sectors to share perspectives and identify practical ways the profession can advance integrity, innovation, and public value.  

Today, regional regulators convened to exchange perspectives on how greater collaboration can accelerate the adoption and implementation of international accountancy standards and best practices across the region. PAOs shared forward-looking insights on modernizing education pathways, creating more inclusive workplaces, and defining clear professional development and leadership tracks to attract and retain top talent, particularly women. 

On October 1, IFAC and SOCPA will engage with regional PAO leaders to build institutional capacity, sharpen relevance and credibility, and strengthen alignment with the public interest through clear value propositions and evidence-based communication. The IPSASB will also hold a roundtable to gather direct feedback from attendees on its work program. 

On October 2, the main IFAC Connect MENA program will spotlight the global forces shaping the profession: corporate reporting transformation, technology, and artificial intelligence while deepening regional commitments to solutions that foster trust, resilience, and innovation. 

Lee White, IFAC Chief Executive Officer, said: “The profession is facing unprecedented transformation. By convening regulators, PAOs, and business leaders in Riyadh, we are ensuring that global priorities are addressed with regional insight and leadership, and that PAOs in MENA move swiftly and boldly to shape solutions that serve the public interest.” 

Dr. Ahmad Almeghames, CEO of SOCPA and IFAC Board Member, said: “Hosting IFAC Connect MENA reflects our commitment to advancing transparency, integrity, and innovation in line with Saudi Arabia’s Vision 2030. Through partnership with IFAC and our regional colleagues, we are ensuring the profession plays a central role in supporting both national and global priorities.” 

IFAC Connect MENA follows a gathering in Nairobi this year and in Singapore, Bogotá, and Dubai in 2024. Later this year, the series will continue with IFAC Connect Global in Mexico City and IFAC Connect Asia-Pacific in Jakarta.

About IFAC 
IFAC, by connecting and uniting its members, makes the accountancy profession truly global. 

IFAC member organizations are champions of integrity and professional quality, and proudly carry their membership as a badge of international recognition. 

IFAC and its members work together to shape the future of the profession through learning, innovation, a collective voice, and commitment to the public interest. 

About SOCPA 
The Saudi Organization for Chartered and Professional Accountants (SOCPA) is Saudi Arabia’s leading professional accountancy body, committed to advancing professional competence, transparency, and accountability, while supporting the Kingdom’s Vision 2030 goals.