It is with profound sadness that IFEA announces the passing of Imran Vanker, a valued member of the IFEA family. We extend our deepest condolences to his family and friends following the tragic and sudden loss of Imran and his daughter yesterday. Our hearts go out to their loved ones during this unimaginable time.

Imran was a member of the IAASB from 2016 to 2021 and, through his work at the Independent Regulatory Board for Auditors (IRBA) in South Africa, remained an esteemed colleague and member of the IAASB community. His passing, alongside that of his daughter, leaves an irreplaceable void.

Imran was a staunch supporter of IESBA, actively participating as a member of the IESBA-National Standard Setters liaison group. His commitment to ethical behavior was demonstrated through his inspiration and significant contributions during his years of service. 

“Imran will be remembered not only for his many contributions to the audit profession but also for the warmth and goodwill he brought to all IAASB discussions. Imran had a passion for serving the public interest, one that will be hard to replicate,” said Tom Seidenstein, IAASB Chair.

‘’Imran was a friend of the IESBA and a passionate advocate for ethics and integrity in the accounting profession. Imran’s legacy of ethical leadership will continue to guide us, and his memory will remain a source of inspiration for all who strive to uphold the highest standards in our work,” said Gabriela Figueiredo Dias, IESBA Chair.

As an organization, we share in the sorrow of this loss and are keeping the Vanker family in our thoughts. We will continue to honor their memory during this difficult time.

The International Federation of Accountants (IFAC) congratulates Professor Jens Poll on his appointment as President of Accountancy Europe for the 2025-2026 term and Giancarlo Attolini as Deputy President. Both Jens Poll and Giancarlo Attolini bring a wealth of expertise and experience to their new roles.

Lee White, CEO of IFAC, commented: “I warmly congratulate Jens Poll on becoming President of Accountancy Europe. Jens’ longstanding commitment to the profession, including as Accountancy Europe Deputy President, as well as his time as a member of the International Ethics Standards Board for Accountants (IESBA), as Vice Chair of the IFAC Small and Medium Practices Committee and as Chair of the European Group of International Accounting Networks and Associations (EGIAN), demonstrate his dedication to upholding and advancing high-quality global ethical standards, and to the profession’s future. His guidance will undoubtedly help steer Accountancy Europe through a period of critical transformation, addressing challenges and opportunities that shape our profession globally.”

Welcoming Giancarlo Attolini, Lee White added: “We are equally pleased to see Giancarlo Attolini take on the role of Accountancy Europe Deputy President. Having contributed significantly as an Accountancy Europe Board member since 2023, Giancarlo brings extremely valuable leadership that will strengthen Accountancy Europe’s mission. In addition, as past Chair of the IFAC Small and Medium Practices Committee and founding partner of Attolini Spaggiari & Associati Studio Legale e Tributario, Giancarlo has been a steadfast advocate for the needs of small and medium-sized practices and has played a pivotal role in promoting practices transformation.”

Lee White emphasized: “Jens’ and Giancarlo’s deep involvement with IFAC underlines their leadership and vision for the global profession. Their new roles will only enhance the already strong collaboration between IFAC and Accountancy Europe as we continue working together towards our shared goals of transparency and accountability, as well as of sustainability and digital transformations, in the public interest.”

IFAC also extends a warm welcome to Eelco van der Enden as the new Chief Executive Officer of Accountancy Europe. Lee White shared: “I am delighted to see Eelco assume this role. His extensive experience and proven leadership will be pivotal in guiding Accountancy Europe into a new chapter and I look forward to collaborating with him and the Accountancy Europe team.”

Finally, Lee White congratulates Mark Vaessen on his leadership as Accountancy Europe President for 2023-2024, and in particular for overseeing the successful CEO transition from Olivier Boutellis-Taft to Eelco van der Enden. Mark will continue to serve the global accountancy profession, having been appointed to the IFAC Board in November 2024.

Accountancy Europe and IFAC share a deep commitment to supporting the profession, and fostering high-quality standards and practices that build trust in organizations, drive innovation, and advance sustainability, while ensuring investor and consumer protection.

About IFAC
IFAC, by connecting and uniting its members, makes the accountancy profession truly global.

IFAC member organizations are champions of integrity and professional quality, and proudly carry their membership as a badge of international recognition.

IFAC and its members work together to shape the future of the profession through learning, innovation, a collective voice, and commitment to the public interest.

Top leaders in global sustainability standard setting, regulation, and accounting joined an afternoon of programming jointly hosted by the International Federation of Accountants (IFAC), the IFRS Foundation, and the International Organization of Securities Commissions (IOSCO) in New York to advance global adoption and implementation of the ISSB standards and build an understanding of sustainability assurance in its early days.  

The invite-only event, Accelerating Climate and Sustainability-related Disclosures: A Global Perspective, was significantly oversubscribed. To support ongoing discussion on this critical topic and continue momentum and action, IFAC is making recordings of the event available to the public. Watch the series here.

Part 1: A Global Perspective from the IFRS Foundation, IOSCO, and IFAC

• Jean-Paul Servais, Chair, IOSCO
• Emmanuel Faber, Chair, ISSB
• Moderator: Lee White, IFAC

Part 2: Reporting Perspective

• Ciara Lee, Senior Director, ESG Global Finance, CISCO
• Pamela Steer, President & Chief Executive Officer, CPA Canada
• Alessandra Lehmen, President, Brazilian Bar Environmental Law Commission (OAB/RS)
• Moderator: Elizabeth Seeger, Member, ISSB

Part 3: Standard Setter Perspective

• Tom Seidenstein, Chair, IAASB
• Gabriela Figueiredo Dias, Chair, IESBA

Part 4: Assurance Perspective

• Christine Albrecht, Managing Director, Deloitte; Chair, IFAC Transnational Auditors Committee (TAC), Forum of Firms
• Ami Beers, Senior Director — Assurance and Advisory Innovation, AICPA
• Kevin O‘Connell, Sustainability Assurance Services Leader, PwC US 
• Moderator: Andrew Hobbs, Andrew Hobbs, EY EMEIA Center for Board Matters Leader, EMEIA Public Policy Leader

Held during Climate Week NYC, this was just one of several IFAC connected learning events held this year to foster collaboration and alignment among regulators, standard setters, businesses, and the accountancy community to accelerate the uptake of climate-related disclosure and assurance.  

In 2025, these action-advancing conversations will continue globally as part of the IFAC Connect^TM series, with plans to convene leaders in Africa, Asia, Europe, Latin America, and MENA and again in New York City at Climate Week in September.

To advance the sustainability transformation or for more information about this conference or IFAC Connect events, please contact the office of Chief Executive Officer Lee White at Communications@IFAC.org.

About IFAC
IFAC, by connecting and uniting its members, makes the accountancy profession truly global.

IFAC member organizations are champions of integrity and professional quality, and proudly carry their membership as a badge of international recognition.

IFAC and its members work together to shape the future of the profession through learning, innovation, a collective voice, and commitment to the public interest.

The International Ethics Standards Board for Accountants (IESBA) took a major leap forward at its December 2024 meeting, approving two sets of standards that will underpin public trust in sustainability reporting and assurance:

• The International Ethics Standards for Sustainability Assurance (IESSA) and related revisions to the International Code of Ethics for Professional Accountants (including International Independence Standards) (the Code), setting a global benchmark for ethical behavior and independence in sustainability reporting and assurance.
• Revisions to the Code on the Using the Work of an External Expert, establishing an ethical framework for evaluating the competence, capabilities and objectivity of external experts used by professional accountants and sustainability assurance practitioners.

The Board also approved a project plan to develop a new standard on accounting firm culture and governance, focusing, among other matters, on ethical leadership and accountability within accounting firms.

The Board marked the departure of two esteemed members, Laurie Endsley, IESBA Vice Chair, and Andy Mintzer. Their dedicated service and contributions have helped significantly shape the IESBA’s work.

Recordings of this week’s meetings will soon be available on the IESBA YouTube channel. Stay tuned for updates as IESBA prepares for the global release of the new sustainability-related standards in January 2025.

For more information, visit ethicsboard.org.

About IESBA

The International Ethics Standards Board for Accountants (IESBA) is an independent global standard-setting board. The IESBA’s mission is to serve the public interest by setting high-quality, international ethics (including independence) standards as a cornerstone to ethical behavior in business and organizations, and to public trust in financial and non-financial information that is fundamental to the proper functioning and sustainability of organizations, financial markets and economies worldwide.

Along with the International Auditing and Assurance Standards Board, the IESBA is part of the International Foundation for Ethics and Audit. The Public Interest Oversight Board (PIOB) oversees IESBA and IAASB activities and the public interest responsiveness of the standards.

The IAASB extends its congratulations to the IESBA on the approval of its ethics and independence standards for sustainability reporting and assurance.

This milestone marks a significant step forward in ensuring the integrity and trustworthiness of sustainability information—a crucial foundation for decision-making by investors, policymakers, and stakeholders worldwide. The new standards demonstrate the IESBA’s commitment to addressing the evolving needs of the global economy and society, setting the bar for ethical conduct and independence in this crucial area.

The IAASB is proud to have collaborated with IESBA to ensure interoperability with the IAASB’s recently published International Standard on Sustainability Assurance 5000 to ensure interoperability. Working together, these standards advance the public interest and drives consistency and credibility in sustainability reporting and assurance practices globally. Together, we are contributing to a stronger, more transparent future.

The International Public Sector Accounting Standards Board (IPSASB^®) has issued International Public Sector Accounting Standard (IPSAS^®) 50, Exploration for and Evaluation of Mineral Resources, and Stripping Costs in the Production Phase of a Surface Mine (Amendments to IPSAS 12).

Minerals can account for a significant proportion of the economic resources in many jurisdictions, and the activities to explore for and extract these minerals require significant investment by mining entities. Up to now, public sector mining entities, reporting under IPSAS Standards, had lacked guidance to produce sufficient information on their investments to pursue the economic benefits of these mineral resources.

 “The IPSASB has responded to its stakeholders’ needs by addressing some of the gaps in its literature on mineral resources,” said IPSASB Chair Ian Carruthers. “Together, the new IPSAS 50 and the Amendments to IPSAS 12 will help public sector entities to provide useful financial information and improved accountability in this important area.”

IPSAS 50 provides guidance on accounting for the costs incurred in the exploration and evaluation of mineral resources, based on the selection of an accounting policy specifying which expenditure should be recognized as exploration and evaluation assets. IPSAS 50 is aligned with the private sector requirements in IFRS 6, Exploration for and Evaluation of Mineral Resources, with limited changes for the public sector context.

Stripping Costs in the Production Phase of a Surface Mine (Amendments to IPSAS 12) adds an authoritative appendix to IPSAS 12, Inventories. The guidance clarifies when to capitalize costs incurred to remove waste material in surface mining operations as inventory or a non-current asset or both. The pronouncement is aligned with the guidance in IFRIC 20, Stripping costs in the Production Phase of a Surface Mine, with limited changes for the public sector context. 

The effective date for both IPSAS 50 and Stripping Costs in the Production Phase of a Surface Mine (Amendments to IPSAS 12) is January 1, 2027, with earlier application permitted.

How to Access

To access the pronouncements, the summary At-a-Glance document, and the webcast, visit the links above. The IPSASB encourages IFAC members, associates, and Network Partners to promote the availability of these pronouncements to their members and employees.

About the IPSASB 

The International Public Sector Accounting Standards Board (IPSASB) works to strengthen public financial management globally through developing and maintaining accrual-based International Public Sector Accounting Standards (IPSAS Standards), IPSASB Sustainability Reporting Standards (IPSASB SRS™ Standards) and other high-quality financial reporting guidance for use by governments and other public sector entities. It also raises awareness of IPSAS Standards and IPSASB SRS Standards and promotes the adoption and implementation of these to enhance the quality and consistency of practice throughout the world and strengthen the transparency and accountability of public sector finances and sustainable development. The Board receives support from the Asian Development Bank, the Chartered Professional Accountants of Canada, the New Zealand External Reporting Board, the government of Canada, and The World Bank. The structures and processes that support the operations of the IPSASB are facilitated by the International Federation of Accountants (IFAC^®). For copyright, trademark, and permissions information, please go to permissions or contact permissions@ifac.org.

About the Public Interest Committee 

The governance and standard-setting activities of the IPSASB are overseen by the Public Interest Committee (PIC), to ensure that they follow due process and reflect the public interest. The PIC is comprised of individuals with expertise in public sector or financial reporting, and professional engagement in organizations that have an interest in promoting high-quality and internationally comparable financial information. 

The International Ethics Standards Board for Accountants (IESBA) is pleased to announce the reappointment of Gabriela Figueiredo Dias to serve a second, renewable term as its Chair, beginning January 1, 2025 and ending December 31, 2026.

Ms. Figueiredo Dias has been at the helm of the global ethics board since January 2022. During her first term, she led the IESBA through a strategy shift, including strategic initiatives that strengthened the relevance and widened the impact of the IESBA’s International Code of Ethics on innovative matters.

Her leadership has been pivotal to the development of robust and timely new standards and thought leadership on ethics and independence to respond to the evolving needs of the market. Those new standards include the soon-to-be-released Sustainability-related standards, which will lay the foundation of ethics and independence as part of the global standards infrastructure for sustainability reporting and assurance, and represent a landmark on the IESBA’s journey.

Other innovative standards finalized over Ms. Figueiredo Dias’ first term included standards addressing the ethical dimensions of tax planning and related services, the transformative effects of technology on the accounting, assurance and finance functions, and auditor independence for group audits.

Ms. Figueiredo Dias’ reappointment comes at a critical time for the IESBA, as the Board pursues a bold Strategy and Work Plan for 2024-2027, with a special focus on two strategic areas: culture and governance of accounting firms, and exploring extending the impact of the IESBA Code beyond its traditional scope. Additional priorities include initiatives to address topics such as auditor independence in relation to collective investment vehicles, and the evolving role of CFOs. Ms. Figueiredo Dias’ first term has already seen strong progress on a number of these priorities, underscoring the IESBA’s role as a global leader in providing standards that support ethical, transparent, and globally consistent reporting and decision-making.

“I am honored to continue to lead the important work we are advancing at IESBA in the public interest,” said Ms. Figueiredo Dias. “In times when ethics matters increasingly for sustainable businesses, markets and economies, it is essential that our standards meet the highest public expectations. Ethics is not optional. It is the bedrock of the accountancy profession and of the public trust in the profession’s work. I look forward to progressing the ambitious agenda we have set, with the critical collaboration of our stakeholders, as we address the complex ethical challenges our world faces today.”

Before joining the IESBA, Ms. Figueiredo Dias served as Chair of the Portuguese Securities Market Commission (CMVM) and was a Board member of the International Organization of Securities Commissions (IOSCO) and the European Securities and Markets Authority (ESMA). She also served as Vice-Chair of the Organization for Economic Cooperation and Development (OECD) Corporate Governance Committee. Her deep expertise and extensive experience in market regulation, international standard setting, legal and regulatory structure and governance, and audit oversight at the European and international levels have been central to her impactful leadership at the IESBA.

About IESBA

The International Ethics Standards Board for Accountants (IESBA) is an independent global standard-setting board. The IESBA’s mission is to serve the public interest by setting high-quality, international ethics (including independence) standards as a cornerstone to ethical behavior in business and organizations, and to public trust in financial and non-financial information that is fundamental to the proper functioning and sustainability of organizations, financial markets and economies worldwide.

Along with the International Auditing and Assurance Standards Board, the IESBA is part of the International Foundation for Ethics and Audit. The Public Interest Oversight Board (PIOB) oversees IESBA and IAASB activities and the public interest responsiveness of the standards.

The global search for volunteer members to serve on the International Public Sector Accounting Standards Board (IPSASB) is underway. The IPSASB is an independent standard-setting body that works to strengthen public financial management globally through developing and maintaining accrual-based International Public Sector Accounting Standards® (IPSAS®), IPSASB Sustainability Reporting Standards™ (IPSASB SRS™), and other high-quality reporting guidance for use by governments and other public sector entities.

The Nominating Committee is seeking nominations from a wide range of relevant backgrounds, including:

• Public sector standard setters
• Preparers of accrual-based financial statements and/or public sector sustainability reports who may come from Ministries of Finance, Accountants Generals’ Departments, or other institutions
• Users of general-purpose financial reports, such as parliamentarians, budget offices, and credit-rating agencies
• Public sector external auditors
• Candidates from jurisdictions that are transitioning to or have already implemented IPSAS

Candidates should have relevant experience, potentially including a strong knowledge of issues related to financial and sustainability reporting, reporting standard-setting experience, direct experience with public financial reforms, and / or familiarity with the needs of financial statement users. Excellent English communication skills are required.

The initial term of service for these volunteers will be for three years, commencing on January 1, 2026, with the potential to renew for another three-year term.

All stakeholders, including from national, state, and local governments, national standard setters, IFAC member organizations, the Forum of Firms and their members from public accounting firms, other organizations, and members of the general public, are encouraged to nominate candidates or apply.

Nominations from all regions of the world are encouraged, with a particular emphasis on qualified candidates from Africa and Latin America (both Spanish and Portuguese-speaking countries) regions. Nominations of female candidates are strongly encouraged.

“IPSASB members have the unique opportunity to shape the future of public sector reporting and connect with colleagues from around the globe," said Ian Carruthers, IPSASB Chair. "As the IPSASB enters a new phase with an increased focus on the maintenance and application of the IPSAS suite of standards, along with the development of sustainability reporting standards, I strongly encourage jurisdictions that are using IPSAS, or actively transitioning to IPSAS, to nominate candidates.”

The deadline for submitting applications is January 31, 2025. Please see the Call for Nominations for more details and information on how to submit an application.

About the IPSASB
The International Public Sector Accounting Standards Board (IPSASB) works to strengthen public financial management globally through developing and maintaining accrual-based International Public Sector Accounting Standards® (IPSAS®), IPSASB Sustainability Reporting Standards™ (IPSASB SRS™) and other high-quality financial reporting guidance for use by governments and other public sector entities. It also raises awareness of IPSAS and IPSASB SRS and promotes the adoption and implementation of these to enhance the quality and consistency of practice throughout the world and strengthen the transparency and accountability of public sector finances and sustainable development.  The Board receives support from the Asian Development Bank, the Chartered Professional Accountants of Canada, the New Zealand External Reporting Board, the government of Canada, and The World Bank. The structures and processes that support the operations of the IPSASB are facilitated by the International Federation of Accountants (IFAC). For copyright, trademark, and permissions information, please go to permissions or contact permissions@ifac.org.

The International Federation of Accountants (IFAC) warmly welcomes the appointment of Rodrigo Buenaventura as new Secretary General of the International Organization of Securities Commissions (IOSCO), and congratulates IOSCO on the announcement.

Lee White, Chief Executive Officer of IFAC, said: "IOSCO is one of IFAC’s most important global partners. Rodrigo’s appointment to Secretary General provides an exciting opportunity to deepen our collaboration, and to strengthen our relationship on behalf of the global accountancy profession.”

Mr. Buenaventura currently serves as Chair of the Spanish Securities and Markets Commission (CNMV).  He is a member of the IOSCO Board and the Board of Supervisors of ESMA.  He also serves as Chair of the IOSCO Sustainable Finance Task Force, Vice-chair of the OECD Corporate Governance Committee and Chair of the ESMA Markets Standing Committee.

“With his extensive experience in securities regulation, corporate governance, and sustainable finance, there is no doubt that Rodrigo will add meaningfully to IOSCO’s important work in sustainability reporting and assurance and integrity in Carbon Markets, among other areas. I have worked closely with Rodrigo over a number of years, and look forward to working closely with him into the future.

“I also wish to recognize the outstanding contributions of Tajinder Singh in his role as Acting Secretary General, and in his ongoing role of Deputy Secretary General, and I look forward to continuing to work together,” said Mr. White.

IFAC, an Affiliate Member of IOSCO and the sole representative of the accountancy profession, shares with IOSCO a longstanding commitment to promoting high-quality financial reporting and audit, high-quality sustainability reporting and assurance, good corporate governance, and broader investor protection. 

About IFAC

IFAC, by connecting and uniting its members, makes the accountancy profession truly global.

IFAC member organizations are champions of integrity and professional quality, and proudly carry their membership as a badge of international recognition.

IFAC and its members work together to shape the future of the profession through learning, innovation, a collective voice, and commitment to the public interest.

The International Federation of Accountants (IFAC), the voice of the global accountancy profession, has announced the election of Jean Bouquot as its President. Mr. Bouquot will serve a two-year term through November 2026, having served previously as IFAC Deputy President since November 2022.

“It is my honor to serve as IFAC President,” said Mr. Bouquot. “Together with my fellow Board members, I will work on behalf of all IFAC members, convene the profession and its stakeholders to highlight the role and activities of IFAC, and always advance the profession in the public interest.”

Mr. Bouquot joined the IFAC Board in November 2020, nominated by Compagnie Nationale des Commissaires aux Comptes (CNCC) and Conseil National de l'Ordre des Experts-Comptables (CNOEC). During his term as CNCC President and together with the CNCC Board, he led reforms that significantly strengthened the French audit profession. Mr. Bouquot was also the President and Deputy President of the Compagnie Régionale des Commissaires aux Comptes de Versailles et du Centre (CRCC Versailles). He is currently a Board member of the Fédération Internationale des Experts-comptables et commissaires aux Francophones (FIDEF), an IFAC Network Partner organization.

Mr. Bouquot has over 44 years of experience as an auditor in various positions at EY with wide exposure to international activities. He currently runs his own small firm in Paris, France.

Taryn Rulton Named IFAC Deputy President

IFAC also announced the election of Taryn Rulton as its Deputy President. Ms. Rulton joined the Board in November 2020.

Ms. Rulton has over 30 years of experience across the United Kingdom and Australia. She brings a diverse background that involves the banking industry, Big-4 firms (KPMG & EY), government, private companies, NGOs, and universities. She currently holds the position of Chief Commercial Officer at La Trobe University in Melbourne, Australia.

Ms. Rulton has significant corporate governance experience and currently serves on multiple corporate Boards and committees in the not-for-profit and public sector, including as the Chair of Audit and Risk Committees. She has standard-setting experience and completed two terms on the Australian Accounting Standards Board (AASB).

New Board Members Elected

IFAC also announced new and re-appointed Board members:

New appointments:

• Ms. Josephine Su Han Phan (CPA Australia)
• Mr. Michael Niehues (IDW/WPK, Germany)
• Mrs. Patricia Stock (SAICA, South Africa)
• Mr. Mark Vaessen (Royal NBA, Netherlands)
• Mr. Lei Yan (CICPA, China)
• Dr. Ahmad Almeghames (SOCPA, Saudi Arabia)

Reappointments:

• Mr. Greg Anton (AICPA, USA)
• Ms. Tashia Batstone (CPA Canada)

Lee White, Chief Executive Officer, said: “On behalf of the IFAC President, Jean Bouquot, and entire IFAC community, I wish to extend our sincere gratitude to Asmâa Resmouki, the Immediate Past President, and outgoing Board members—Lisa Padmore, Margrét Pétursdóttir, Jeanine Poggiolini, Dr. Jianhua Tang, and Ayşe Arıak Tunaboylu for their tremendous service to our profession, and for the invaluable wisdom and support to me and all of our members during their tenures.”

New IFAC Members and Associate Admitted

In addition to the election of new Board members, the IFAC Council also approved new Member and new Associate organizations.

New IFAC Members:

• Colegio de Contadores Públicos de Pichincha y del Ecuador
• Consejo General de Economistas de España
• Emirates Association for Accountants and Auditors

New Associates:

• Institute of Chartered Accountants of the Maldives  
• Ordre National des Experts-Comptables Algériens
• Ordre des Professionnels Comptables du Burundi
• Ordre National des Experts Comptables du Gabon

The new appointments and membership admissions were approved at the 2024 IFAC Council hybrid meeting, with a physical location held in Paris, France on November 6-7, 2024.

About IFAC

IFAC, by connecting and uniting its members, makes the accountancy profession truly global.

IFAC member organizations are champions of integrity and professional quality, and proudly carry their membership as a badge of international recognition.

IFAC and its members work together to shape the future of the profession through learning, innovation, a collective voice, and commitment to the public interest.