IFAC, the International Federation of Accountants, which comprises 180 member and associate organizations and represents 3 million professional accountants globally, continues its work to support the establishment of global sustainability standards in the public interest.
In this regard, IFAC endorses the most recent actions announced by the IFRS Foundation Trustees and IOSCO.
Specifically, IFAC supports the IFRS Foundation’s formation of a working group and efforts to set up a multi-stakeholder expert consultative committee, both of which will accelerate progress towards a successful standards setting board. These steps demonstrate the IFRS Foundation’s focus on delivering with speed by leveraging and bringing together the work of existing initiatives.
IFAC further supports IOSCO’s establishment of a new Technical Expert Group under its Sustainable Finance Task Force, which demonstrates growing international demand for the work of the IFRS Foundation.
IFAC CEO Kevin Dancey said, “IFAC reiterates its support for the IFRS Foundation to establish an international standard setting board with a focus on enterprise value creation, a unique connection to the work of the IASB, and backing from IOSCO and other authorities. This approach offers the quickest and most effective route to a baseline of internationally consistent sustainability-related disclosures for enterprise value creation developed in the public interest. IFAC calls for international collaboration and cooperation to make this initiative a success.”
Read Kevin Dancey’s most recent letter to IFAC member organizations here.
Welcomes Latest Steps by IFRS Foundation Trustees and IOSCO
The Tool was created to help and support IFAC member organizations on their digital journey. Each participating PAO will receive a report containing their results.
In November 2020, IFAC in partnership with cloudThing launched the IFAC PAO Digital Readiness Assessment Tool (the Tool).
The Tool was created to help and support IFAC member organizations on their digital journey. Each participating PAO will receive a report containing their results.
IFAC member organizations in Europe and Central Asia region are invited to attend - the event will also be will be live streamed on IFAC's YouTube channel
The webinar will be held in English, with simultaneous translation in Russian
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In November 2020, IFAC in partnership with cloudThing launched the IFAC PAO Digital Readiness Assessment Tool (the Tool).
Together with ICAEW, The International Federation of Accountants (IFAC) today released the sixth installment in its Anti-Money Laundering: The Basics educational series: Installment 6: Businesses in Difficulty.
The publication is part of a 6-month short series helping accountants enhance their understanding of how money laundering works, the risks they face, and what they can do to mitigate these risks and make a positive contribution to the public interest. Installment six looks at businesses experiencing financial difficulties and the increased risk a professional accountant may face to inadvertently facilitate money laundering.
The installment series, with its focus on accessibility and ease of use, will be a resource for Small and Medium Practices (SMPs,) and accountants less familiar with AML, while also providing guidance for those looking for a quick refresher or reference.
Anti-Money Laundering: The Basics is featured on both the IFAC (landing page) and ICAEW websites and available for download for free. To be globally relevant, the series uses the risk-based approach of the Financial Action Task Force (FATF) – the global money laundering and terrorist financing watchdog -- as a starting point.
For more information about IFAC, visit www.ifac.org.
