News and Publications
Revisions to the Definitions of Listed Entity and Public Interest Entity in the Code
This Q&A publication is designed to highlight, illustrate, or explain aspects of the PIE revisions in the Code and is intended to complement the Basis for Conclusions for the final pronouncement. It will assist national standards setters, professional accountancy organizations, and firms in adopting and/or implementing the PIE revisions. The Q&As will also assist regulators…
Briefing Note for Global Sustainability Roundtables
the IESBA will hold four global roundtables to obtain input that will help shape the development of new ethics and independence standards for sustainability reporting and assurance. The objective of the IESBA’s global sustainability roundtables is to obtain stakeholders’ input to key ethics and independence issues relating to sustainability reporting and assurance as well as the…
IFAC Response to the IFRS for SMEs Exposure Draft
IFAC welcomes this comprehensive review of IFRS for small- and medium-sized enterprises (SMEs). In principle, we support alignment of IFRS for SMEs with full IFRS Standards. As a basic standard-setting principle we believe the concepts that underpin IFRS and IFRS for SMEs should be the same, notwithstanding that their application may need to be modified…
Final Pronouncement: Revisions to the Code Relating to the Definition of Engagement Team and Group Audits
These revisions to the Code Relating to the Definition of Engagement Team and Group Audits address holistically the various independence considerations in an audit of group financial statements. The revisions also deal with the independence and other implications of the changes made to the definition of an engagement team in the Code to align with changes…
The Role Accounting Technicians Can Play in the Global Accountancy Ecosystem
Accounting Technicians are part of the global accountancy profession, working across all sectors in financial management roles that are essential to a strong and sustainable accountancy profession, private and public sector organizations, and financial markets and economies. When Accounting Technicians, or ATs, are empowered with appropriate technical knowledge and practical skills—and valued by employers—they support…
Proposed Revisions to the Code Addressing Tax Planning and Related Services
The proposed revisions to the Code addressing tax planning and related services responds to public interest concerns about tax avoidance and the role played by consultants, including professional tax advisers, in light of revelations in recent years such as the Paradise and Pandora Papers. The proposals strengthen the ethical expectations for professional accountants in business…
The State of Play: Sustainability Disclosure & Assurance 2019-2021 Trends & Analysis
The State of Play in Sustainability Assurance benchmarking study captures and analyzes the extent to which companies are reporting and obtaining assurance over their sustainability disclosures, which assurance standards are being used, and which companies are providing the assurance service. The 2019-2021 Trends & Analysis report marks our third annual benchmarking study of global practice…
Non-Authoritative Support Material Related to Technology
This Frequently Asked Questions (FAQ) helps address investigating exceptions and the concept of performance materiality when performing audit procedures using automated tools & techniques (ATT). While not unique to ATT, questions on these topics have become more prevalent with the increasing use of ATT, which enable analyzing data sets with large volumes of information. The…
Digital Transformation and the Role of Accounting and Finance Professionals in this New Era
Professional Accountants in Business (PAIB) are on new pathways to relevance as enablers of digitalization and finance and business transformation. This Procter and Gamble case study, created with IMA (Institute of Management Accountants), highlights how the profession is seizing new opportunities and responding to new complexity. Read more insights from IFAC’s Professional Accountants in Business…