IFAC's 2005 annual report
23 May 2006
The International Federation of Accountants has published its Annual Report for 2005 (PDF 2,046k).
Among IFAC's most notable accomplishments for 2005 are:
- Strengthening of its standard-setting processes including establishment of the Public Interest Oversight Board (PIOB) and establishment and expansion of Consultative Advisory Groups for IFAC standard-setting boards
- Development of good practice guidance to help developing nations build accounting capacity.
- Release of an updated international Code of Ethics for Professional Accountants.
- Progress on developing a global electronic knowledge resource for professional accountants in business
- Successful implementation of Part 1 of the IFAC Member Body Compliance Program, which provides comprehensive information about the regulatory and standard-setting frameworks in countries around the world