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Public Interest Oversight Board (PIOB)

PIOB (Public Interest Oversight Board) (lt gray)

Background

The Public Interest Oversight Board (PIOB) was formally established in February 2005 to oversee the auditing and assurance, ethics, and education standard-setting activities of the International Federation of Accountants (IFAC) as well as IFAC's Member Body Compliance Program. This last activity is designed to encourage member bodies to adopt international standards and to implement quality assurance and investigation and discipline programs.

Objective

The objective of the international Public Interest Oversight Board (PIOB) is to increase the confidence of investors and others that the public interest activities of the International Federation of Accountants (IFAC) - including the setting of standards by independent boards operating under the auspices of IFAC - are properly responsive to the public interest.

PIOB Activities

The PIOB oversees those committees of IFAC that have public interest responsibilities, namely:

In that regard, the PIOB:

  • Reviews and approves Terms of Reference for these entities;
  • Evaluates the boards' due process procedures;
  • Oversees the work of IFAC's Nominating Committee and approves the committee's nominations to the standard-setting boards and the CAP; and
  • Suggests projects to be added to the boards' work programs.

The Chair of the PIOB also has the right to attend and to speak at IFAC Board meetings.

PIOB Members

The eight members of the PIOB are nominated by the International Organization of Securities Commissions (IOSCO), the Basel Committee on Banking Supervision, the International Association of Insurance Supervisors, and The World Bank. In addition, the European Commission nominates two observers to the PIOB.

Click here for a List of PIOB Members on the PIOB's website.

Contract information

PIOB Secretariat
C/ Oquendo, 12 - 28006
Madrid, Spain

Tel: + 34 91 782 0528
Fax: + 34 91 782 48 87

info@ipiob.org

 

Correction list for hyphenation

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