Tag Archives: IFAC

IFAC Decries Diverse Applications

State Board Report January 2014 The International Federation of Accountants reports that jurisdictions appear to be moving apart rather than converging in their regulatory arrangements for auditing and auditor independence requirements. While proposed legislation would mandate the use of clarified International Standards on Auditing (ISAs) for statutory audits within the European Union, “some jurisdictions unnecessarily…

Written on January 22, 2014 at 9:17 pm, by

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PCC, IFAC and AICPA Panelists Address Standards

State Board Report November 2013 The importance of vetting, objective experts and responsiveness to the needs of financial information users was stressed by the participants in a panel on standard setting that brought together Public Company Council Chairman Billy Atkinson, American Institute of Certified Public Accountants Vice President Charles E. Landes and International Federation of…

Written on December 2, 2013 at 8:50 pm, by

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Flexible Paths to the Profession

State Board Report March 2013 A revised International Education Standard, to become effective July 1, 2014 was released in February to enable International Federation of Accountants (IFAC) members to start working on implementation. The International Education Standards Board comments: “This IES explains the principle of allowing flexible access to professional accounting education programs under the…

Written on March 18, 2013 at 6:49 pm, by

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IFAC ED on Auditor’s Report

State Board Report December 2012 By July the International Federation of Accountants is going to release an exposure draft on what they believe the auditor’s report should look like, Jim Sylph, IFAC Executive Director-Professional Standards and External Relations, told the NASBA 2012 International Forum. “User groups, investors, analysts, pension funds say that what they are…

Written on December 21, 2012 at 9:42 am, by

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African Accountants Adopt International Standards

State Board Report June 2012 At the inaugural meeting of the Pan African Federation of Accountants (PAFA) General Assembly, on May 4 in Tunis, Tunisia, the organization resolved to adopt International Standards on Auditing, International Public Sector Accounting Standards, International Education Standards, International Financial Reporting Standards (IFRS), International Financial Reporting Standards for Small and Medium…

Written on June 22, 2012 at 12:52 pm, by

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IFAC Responds to EC Proposed Legislation

State Board Report January 2012 The International Federation of Accountants (IFAC) has offered some support and some objections to the European Commission’s proposed legislation announced on November 30 (see sbr 12/11). IFAC maintains that a number of the proposals in the legislation were not widely supported by the responses received to the EC’s “Green Paper…

Written on January 31, 2012 at 5:00 pm, by

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Dakkduk Says IESBA May Drop ‘Inadvertent’

State Board Report November 2011 The International Federation of Accountants has released proposed changes to its “Code of Ethics for Professional Accountants” that would eliminate current paragraphs addressing inadvertent violations of a requirement in the Code. Speaking at NASBA’s Annual Meeting, IESBA Chair Kenneth Dakkduk, said, “Given the fact that violations do occur, we must…

Written on November 30, 2011 at 2:37 pm, by

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IAESB Proposes Experience Changes

State Board Report September 2011 Rather than requiring a minimum of three years of practical experience as a qualification for professional accountants, the International Accounting Education Standards Board has released proposed changes to International Education Standard (IES) 5, Practical Experience Requirements for Aspiring Professional Accountants, that allows its member bodies (such as the AICPA) to take…

Written on September 30, 2011 at 11:25 am, by

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NASBA’s International Presence

State Board Report January 2010 As 2010 begins, we look back at a busy year for Linda Biek, Director of Governmental, Professional and International Relationships, as she represented NASBA and State Boards throughout the world. Ms. Biek shared thoughts about an international code of ethics with members of the International Federation of Accountants (IFAC) in…

Written on January 23, 2010 at 8:43 pm, by

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NASBA Becomes IFAC Affiliate

State Board Report December 2009 After years of discomfort with its membership status in the International Federation of Accountants, in November NASBA was given “affiliate” status by the IFAC Council. As an affiliate, NASBA is released from membership obligations, which include having its members support the policies, standards and programs of IFAC. As NASBA is…

Written on December 17, 2009 at 9:06 pm, by

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