International Federation of Accountants (IFAC)

Organization Overview

IFAC is an organization of national professional accountancy organizations that represent accountants employed in public practice, business and industry, the public sector, and education, as well as some specialized groups that interface frequently with the profession. Currently, it has 156 member bodies in 114 countries, representing 2 million accountants. IFAC's structure and operations provide for representation of its diverse member organizations.

Objective

IFAC strives to develop the profession and harmonize its standards worldwide to enable accountants to provide services of consistently high quality in the public interest. IFAC will fulfill this objective within the framework of its new Constitution.

Primary Activities

IFAC's leadership, its committees and task forces work with member bodies to achieve this objective by:

• Serving as international advocates. IFAC develops and promotes high quality technical, professional and ethical publications and guidance for use by accountants employed in every sector.
• Acting as agents for change. IFAC provides leadership on emerging issues, the impetus for the liberalization of accountancy services, and a universal voice for the world's accountants on issues of public and professional concern. Much of this is accomplished through outreach to numerous organizations that rely on or have an interest in the activities of the international accountancy profession.
• Facilitating the development of a harmonized worldwide accountancy profession. IFAC fosters the advancement of strong national professional accountancy organizations. It works closely with regional accountancy organizations and outside agencies to accomplish this.

Membership Qualifications

Membership in IFAC is open to accountancy organizations recognized by law or general consensus within their countries as substantial national organizations in good standing. Three levels of membership are available: full, associate and affiliate.