News and Publications

Ethical Leadership in an Era of Complexity and Digital Change

Ethical Leadership in an Era of Complexity and Digital Change

by /in /
In their roles as ethical leaders and trusted advisors, professional accountants rely on professional skills, values, ethics and attitudes to serve their organizations and clients. Chartered Professional Accountants of Canada (CPA Canada) and the Institute of Chartered Accountants of Scotland (ICAS) are collaborating with IFAC to research and report on how complexity in the professional…
Read more
Anti-Money Laundering, The Basics: Installment 5 – Tax Advice

Anti-Money Laundering, The Basics: Installment 5 – Tax Advice

by /in /
This is the fifth installment of a 6-month publication series titled Anti-Money Laundering, The Basics. The series provides professional accountants with a better 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.  To be globally relevant, the…
Read more

International Standard on Quality Management (ISQM) 1, Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements

by /in /
ISQM 1 strengthens firms’ systems of quality management through a robust, proactive and effective approach to quality management. The standard encourages firms to design a system of quality management that is tailored to the nature and circumstances of the firm and engagements it performs. ISQM 1 applies to all firms that perform engagements under the…
Read more

International Standard on Auditing 220 (Revised), Quality Management for an Audit of Financial Statements

by /in /
ISA 220 (Revised) deals with the engagement partner and engagement team’s responsibilities for quality management for an audit of financial statements. The revised standard modernizes the approach to quality management through improved and requires the engagement partner and engagement team to be proactive in managing and achieving quality. ISA 220 (Revised) is effective for audits…
Read more

Agreed-Upon Procedures Engagements

by /in /
This publication outlines an agreed-upon procedures engagement, identifies the benefits to clients of offering such services, and when an AUP engagement is appropriate. It also covers examples of financial and non-financial subject matters, six short case studies with example procedures that might be applied and two illustration AUP reports from ISRS 4400 (Revised).
Read more

The Consideration of Climate-Related Risks in an Audit of Financial Statement

by /in /
Climate change is increasingly front of mind for investors and other IAASB stakeholders as its effects are increasingly visible. Given climate change’s potential to impact most, if not all entities, directly or indirectly, the IAASB issued this Staff Audit Practice Alert, which assists auditors in understanding what already exists in the International Standards on Auditing…
Read more

Non-Authoritative Support Materials: Using Automated Tools & Techniques in Performing Audit Procedures

by /in /
The publication assists auditors in understanding whether a procedure involving automated tools and techniques may be both a risk assessment procedure and a further audit procedure. It also provides specific considerations when using automated tools and techniques in performing substantive analytical procedures in accordance with International Standard on Auditing 520, Analytical Procedures.  This publication does…
Read more

Anti-Money Laundering, The Basics: Installment 1 – Introduction to Anti-Money Laundering for Professional Accountants

by /in /
This is the first installment of a 6-month publication series titled Anti-Money Laundering, The Basics. The series provides professional accountants with a better 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.  To be globally relevant, the…
Read more

Self-Assessment Against Main Requirements of International Education Standards

by /0 Comments/in /
All IFAC member organizations are required to adopt and implement the International Education Standards, or support their adoption and implementation. This IES self-assessment checklist will help professional accountancy organizations: Facilitate a high-level assessment of the educational requirements for professional accountants in their jurisdictions against the IESs, with a view to further develop roadmaps for IES…
Read more