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IFAC policy paper on regulation of the accounting profession

  • IFAC (International Federation of Accountants) (lt gray) Image

10 Dec 2007

International Federation of Accountants (IFAC) has released a Policy Position on professional regulation of the accountancy profession in which it states that professional accountancy bodies, acting in the public interest, must play an active role in the regulation of the profession to ensure that regulation is effective and efficient.

The paper, Regulation of the Accountancy Profession, outlines various types of regulatory models and how they can be implemented and discusses the roles of professional accountancy bodies and governments. In discussing the need for regulation, the paper points out: 'Like other professions, the sustainability of the accountancy profession depends upon the quality of services provided by its members and the profession's capacity to respond effectively and efficiently to the demands of the economy and society.' Click for:


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