News and Publications

This publication highlights the impact of technology when applying certain aspects of the International Standards on Auditing (ISAs). It focuses on specific considerations for planning an audit in accordance with ISA 300, Planning an Audit of Financial Statements, that may be relevant when using automated tools and techniques. This publication does not amend or override…

Convening virtually over two days, IFAC’s Professional Accountants in Business (PAIB) Advisory Group, a dynamic global group of business and finance leaders, shared their insights on how accountants are contributing to value creation and sustainability in their organizations in both the private and public sectors and the extent to which digital assets could disrupt industries and gain legitimacy. This report includes highlights from the discussions. 

This pronouncement adds of non-authoritative guidance to IPSAS 5, Borrowing Costs. The non-authoritative guidance adds implementation guidance and illustrative examples to IPSAS 5. The new material in ED 74 illustrates how the existing principles for when borrowing costs can be capitalized are applied in various regularly encountered public sector scenarios. No amendments are proposed to the authoritative…

IFAC calls on the G20 to focus on two key actions—where the global accountancy profession is a strongly committed partner—that will move the needle on sustainability, inclusivity, and prosperity. The four priorities from IFAC's 2020 Call to Action remain central to building a better future. Delivering on these will take a concerted effort from policymakers, businesses, other organizations,…

IFAC’s new framework for implementing global sustainability standards set by an International Sustainability Standards Board builds on the previously issued Building Blocks Approach. This framework examines how existing mechanisms already in place for adopting IFRS Standards used in financial reporting may be appropriate or adapted for sustainability-related reporting. Alternatively, a new mechanism may be required. IFAC…