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IFAC FOCUS AREAS
- Accountability. Now.
- Adoption of International Standards
- Developing the Global Profession
- Global Representation and Advocacy
- Professional Accountants in Business
- Small and Medium Practices
Independent Standard-Setting Boards
The International Auditing and Assurance Standards Board sets high-quality international standards for auditing, assurance, and quality control that strengthen public confidence in the global profession.
The International Accounting Education Standards Board establishes standards, in the area of professional accounting education, that prescribe technical competence and professional skills, values, ethics, and attitudes.
The International Ethics Standards Board for Accountants sets high-quality, internationally appropriate ethics standards for professional accountants, including auditor independence requirements.
The International Public Sector Accounting Standards Board develops standards, guidance, and resources for use by public sector entities around the world for preparation of general purpose financial statements.
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The International Public Sector Accounting Standards Board® (IPSASB®) develops IPSAS®, accrual-based standards used for the preparation of general purpose financial statements by governments and other public sector entities around the world. Through these standards, the IPSASB aims to enhance the quality, consistency, and transparency of public sector financial reporting worldwide. It also issues guidance and facilitates the exchange of information among accountants and others who work in the public sector and promotes the acceptance of and international convergence to IPSAS.
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Feedback Sought for Exposure Draft 61, Proposing Revisions to the Cash Basis IPSAS
The IPSASB is seeking feedback on Exposure Draft (ED) 61, Amendments to Financial Reporting under the Cash Basis of Accounting (the Cash Basis IPSAS™).
Stakeholders are encouraged to comment those paragraphs or sections of the Cash Basis IPSAS proposed for amendment. To enhance understanding of the proposals, a marked-up version of the Cash Basis IPSAS reflecting the changes proposed in ED 61 is available.
Deadline for comments is July 31, 2016.
Inaugural Public Sector Standards Setters Forum
The Governmental Accounting Standards Board (GASB) and the IPSASB recently co-hosted an event in Norwalk, Connecticut, that assembled key public sector standard setters from around the world to build a dialogue, exchange ideas, and discuss critical issues in standard setting.
The forum brought together over 70 participants from 22 organizations with standard-setting responsibilities in more than 30 countries.