2016 is a crucial year for G-20 countries and the global economy, with new opportunities to create an environment of sustainable, inclusive growth. Given the increasingly interconnected economy, achieving this kind of growth depends on improving integrity and transparency and, in turn, restoring trust in business and government alike.

Given the essential role of professional accountants in business in strong and sustainable organizations, financial markets, and economies, this guidance assists professional accountancy organizations (PAOs) in strengthening engagement with accountants in business, the public sector, and academia as a means to expand their reach, influence, and contribution.

The Guide aims first and foremost to help IFAC member organizations and their members in practice, especially SMPs, with the implementation of ISRS™ 4410 (Revised), Compilation Engagements, which is one of the International Standards on Related Services™ developed exclusively by the International Auditing and Assurance Standards Board (IAASB). 

The voice of your professional accountancy organization (PAO) matters.

The accountancy profession is most successful and sustainable with the support of healthy national and regional professional accountancy organizations (PAOs) that have robust, effective relationships with their national and regional stakeholders, including government and regulators.

The success of any PAO relies in large part on its ability to effectively communicate, and demonstrate, its relevance to society. This begins early in a PAO’s development with promotion of:

Developed in conjunction with CPA Canada, this guide aims to help professional accountants in practice, especially those operating in small- and medium-sized practices (SMPs), in conducting review engagements in compliance with International Standard on Review Engagements (ISRE) 2400 (Revised), Engagements to Review Historical Financial Statements. 

This guidance was written for all organizations, regardless of their size or structure, private or public, to support the accountancy profession’s facilitation of sustainable organizations, financial markets, and economies by providing guiding principles to manage the complexities of performing a robust project and investment appraisal. Greater rigor in the appraisal and decision process can be achieved by using the principles as a benchmark against which to assess an organization’s current practice.

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 Federation of Accountants (IFAC) today announced the opening of virtual registration for the World Congress of Accountants (WCOA) 2026, hosted jointly with the Korean Institute of Certified Public Accountants (KICPA) from November 17–19, 2026, in Seoul, South Korea. Virtual participation will give professional accountants, students, business leaders, policymakers, academics, and interested members of the public around the world the opportunity to take part in the global profession’s flagship event.

Virtual attendance includes:

• Live access to all main-stage programming, including keynote addresses, plenary panel discussions, fireside chats, and other main WCOA sessions.
• Live programming in Korea Standard Time (KST, UTC+9) for attendees who want to follow the event in real time.
• On-demand access to recorded main-stage sessions after the event through Whova, the official WCOA 2026 event platform.
• Perspectives from more than 30 global thought leaders, including Shin Je-yoon, Chairman of the Board of Samsung; Tom Hood, Executive Vice President, Business Growth and Engagement of AICPA; and Wes Bricker, Global Vice Chair - Global Chief Risk and Regulatory Officer at PwC. Session topics include, but are not limited to:
  • AI and the future of accountancy
  • Sustainable development and stronger institutions, and 
  • Attracting the next generation of leaders to the profession. 
• Flexible access from anywhere in the world, allowing registered virtual attendees to catch up on main-stage programming at a time that works for them.

Please note: Virtual registration does not include live access to concurrent breakout-room sessions. However, registered virtual participants will be able to access recordings of these sessions through Whova following the event.

“WCOA has always been about bringing the global profession together, and virtual participation allows us to extend those conversations far beyond the room in Seoul,” said Lee White, Chief Executive Officer of IFAC. “Whether joining live or watching on demand from another part of the world, participants will hear different perspectives on the issues shaping our future and be part of a truly global conversation.”

"We are delighted to host the first WCOA Congress under its new biennial format here in Seoul, bringing together representatives from around the world," said President Woon-Youl Choi of KICPA. "We hope this Congress sparks in-depth discussion on accounting, auditing, and sustainability, as well as the challenges and opportunities of AI-driven digital transformation, and that Korea's experience strengthening accounting transparency can help shape new value for future generations."

Under the theme “Together for a Connected Tomorrow,” WCOA 2026 will bring together leaders from the accountancy profession and the wider financial ecosystem to explore the forces transforming economies, institutions, businesses, and the profession itself. 

Register for virtual access to WCOA 2026 

For the latest program information, visit ifac.org/wcoa.

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 with the Forum of Firms and other key stakeholders to shape the future of the profession through learning, innovation, a collective voice, and commitment to the public interest.

About KICPA

The Korean Institute of Certified Public Accountants (KICPA), established in 1954 under the Certified Public Accountants Act, is the statutory professional body representing Certified Public Accountants (CPAs) in Korea. Guided by the principle that sound accounting makes economic fundamentals sound, KICPA works to build trust and transparency in Korea's financial markets. Through setting professional standards, ensuring ethical conduct, and supporting continuous professional development, KICPA enables CPAs to serve the public interest, promote sound corporate governance, and contribute to Korea's economic development. KICPA is a member of the International Federation of Accountants (IFAC), the global home for the accountancy profession dedicated to serving the public interest.

IFAC’s 2025 Annual Report: Building Trust. Shaping the Future., highlights a year of collaboration, progress, and action to strengthen the global accountancy profession and prepare it for what comes next.