Assurance

9 November 2022 IFAC’s new report: Getting to Net Zero: A Global Review of Corporate Disclosures focuses on corporate emissions reduction reporting. While substantially fewer companies disclosed information on emission reduction targets, the report found that there is inconsistency and incomparability of these target disclosures which may pose challenges for investors, regulators, and other stakeholders who …

New IFAC Report Highlights a Challenges and Gaps in Corporate Climate Reporting with Emissions Target and Transition Plans Read More »

24 October 2022 Proposed International Standard on Auditing 500 (Revised), Audit Evidence, provides a “reference framework” for auditors when making judgments about audit evidence throughout the audit. The current ISA 500 addresses an auditor’s responsibility to design and perform audit procedures to obtain sufficient appropriate evidence to draw reasonable conclusions on which to base the auditor’s opinion. …

IAASB OPENS PUBLIC CONSULTATION FOR REVISED AUDIT EVIDENCE STANDARD Read More »

31 October 2022 IFAC released new guidance for SMEs to assist with the implementation of the new quality management system.  The IAASB’s suite of quality management standards were issued in December 2020 and come into effect on December 15, 2022. The three-part series will provide tips and guidance for practical implementation of the IAASB’s standards. …

New IFAC guidance on implementing the quality management system for small and medium entities Read More »

The following hearings are planned to take place during November: 1. IRBA / ABM Overview of charges: The Respondent issued an unqualified audit opinion in relation to the Annual Financial Statements (AFS) of a state-owned company (SOC), for the year ended 31 March 2016. Following an investigation, the Respondent was charged for breach of several …

IRBA Disciplinary Hearings – November 2022 Read More »

30 September 2022 Why is an Integrated Mindset important? Today, sustainability and financial information are often dealt with in separate parts of an organisation. In a world where sustainability and financial risks are converging, these information silos are barriers to developing better systems to enhance the quality and reliability of data and advance sustainability and …

Mastering Integrated Mindset is key to achieving sustainable value creation Read More »

6 October 2022 IFAC and Accounting for Sustainability (A4S) hosted a Climate Week NYC event Finance Leaders Plugging the Net-Zero Information Gap: Exploring the critical role of CFOs and finance teams in the climate transition. The event brought together finance and accounting leaders to better understand how they’re enabling their organization’s decarbonization strategies and transition planning and what …

Role of CFOs and finance in climate transition – Climate Week NYC event Read More »

22 September 2022 Taxpayers’ attitudes about paying taxes correlate closely with perceived levels of corruption, according to a major new study, by accountancy bodies ACCA and the International Federation of Accountants (IFAC). Data has been collected since 2017 across the G20 on attitudes and opinions of the public. A survey across 14 countries found that trust …

Public trusts tax authorities more when corruption is less – shows global survey Read More »

22 September 2022 The Fast Future With IFAC Podcast Series: Episode Five – Total audio time: 11:40 minutes Tune in for this new edition in the conversational podcast series about small- and medium-sized practices (SMPs) adapting to the rapidly changing global economy. Episode Five features a conversation with Amy Bridges, Professional Development Manager at CPA.com. …

Listen to the new IFAC podcast on how can SMPs step into client advisory services Read More »

15 September 2022 The International Auditing and Assurance Standards Board (IAASB) and International Ethics Standards Board for Accountants (IESBA) welcomed new international support for developing standards relating to assurance of sustainability-related information.  Stakeholders are increasingly seeking assurance of sustainability-related information and that it is important to respond to market demands with robust standards applicable to …

International Support for New Assurance Standards on Sustainability-Related Information Read More »

13 September 2022 At the second edition of the Egypt International Cooperation Forum in Cairo, Egypt, African ministers, and senior government officials call for early adoption of environmental and sustainability Standards by African jurisdictions and companies. The communique also encourages the ISSB to work closely with African stakeholders and to provide strong advisory and capacity …

African ministers call for early adoption of environmental and sustainability standards Read More »