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) warmly welcomes the appointment of Jennifer Lopez as the new Chief Executive of the Confederation of Asian and Pacific Accountants (CAPA).

Jennifer brings to CAPA a proven record of transformative and innovative leadership, most recently demonstrated during her tenure as Executive Director at the British Malaysian Chamber of Commerce. Her vision, strategic acumen, and commitment to collaboration come at a pivotal time for the profession. As IFAC strengthens its approach to regional engagement, Jennifer’s appointment marks an important step to further elevate collaboration between IFAC and CAPA, supporting the advancement of the accountancy profession both regionally and globally.

Lee White, IFAC Chief Executive Officer, said: "We are delighted to welcome Jennifer Lopez into her new role at CAPA. Jennifer’s track record of innovation and strategic leadership will bring fresh energy and ideas to CAPA’s important mission. Her appointment comes at a time when our profession is navigating profound transformations—driven by sustainability, powered by technology, and shaped by the urgent need to attract, develop, and retain talent.

I am excited for the opportunities ahead as we work closely with Jennifer and the CAPA team to strengthen our collective impact for the benefit of the global profession and the public interest."

At the same time, IFAC expresses its deep gratitude to Brian Blood, who is stepping down after a remarkable tenure as CAPA’s Chief Executive Officer. "Brian has been a tireless champion for the profession in the Asia-Pacific region.

"Under his leadership, CAPA has become a true force—supporting PAOs through the Maturity Model, championing SMPs and Accounting Technicians, and producing vital resources on public sector reporting, ethics, and quality assurance. Brian has also been a generous advisor and friend to IFAC—always thoughtful and committed,” said Mr White. 

With Jennifer’s leadership and Brian’s enduring legacy, CAPA is well positioned to continue driving impact for its members and for the global profession.

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.