First six national action plans under IFAC compliance programme

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

10 Jul 2008

The IFAC Member Body Compliance Program, launched four years ago, has reached a major milestone in its mission to encourage accountancy organizations worldwide to work together with their members, regulators, standard setters, and other key stakeholders to strengthen the profession.

The Compliance Program is a three-part process:
  • A member organisation's assessment of its country's regulatory and standard-setting framework.
  • A self-assessment of the extent to which a member body has committed to international convergence of standards and promoted the implementation of strong quality assurance and enforcement regimes as specified in IFAC membership requirements.
  • Development of action plans to further the convergence process and meet other IFAC membership requirements.
The Compliance Program is now in this third phase and the action plans of IFAC members from six countries have recently been publicly released on the IFAC Website. The six countries with action plans are Argentina, Botswana, China, Czech Republic, Kenya, and Romania. Click for IFAC Press Release (PDF 17k).


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