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IFIAR Members Approve Multilateral Memorandum of Understanding (MMOU) – Strengthening Future Cooperation Among International Audit Regulators

  • IFIAR - International Forum of Independent Audit Regulators Image

Jul 16, 2016

On July 16, 2016, the International Forum of Independent Audit Regulators (IFIAR) announced the approval of a Multilateral Memorandum of Understanding (MMOU) on June 30, 2015. Two years in the making, the MMOU seeks to improve the quality of public company audits through enhanced information sharing among members.


Given the global nature of capital markets, members recognize the need for cooperation in matters related to the oversight of auditors that fall within their regulatory jurisdictions. The primary purpose of the MMOU is to facilitate that cooperation in the exchange of information among members regarding public oversight of auditors, including inspections, investigations, enforcement and registration.

Three general principles were followed in the development of the MMOU:

  • Provide a framework for cooperation among IFIAR members
  • Maximize cooperation through a flexible approach
  • Work within the scope of existing authorities so as not to require any member to change its regulatory regime.

For further details refer to the press release and copy of the MMOU on the IFIAR website.

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