What does IFAC mean in FEDERATION
IFAC stands for International Federation of Accountants. It is a global organization that represents the accountancy profession worldwide.
IFAC meaning in Federation in Governmental
IFAC mostly used in an acronym Federation in Category Governmental that means International Federation of Accountants AcronymFinder
Shorthand: IFAC,
Full Form: International Federation of Accountants AcronymFinder
For more information of "International Federation of Accountants AcronymFinder", see the section below.
What is IFAC?
- IFAC is a not-for-profit organization founded in 1977.
- It is based in New York City, United States.
- IFAC has over 175 members and associates in 130 countries and jurisdictions.
- Its mission is to serve the public interest by contributing to the development, adoption, and implementation of high-quality accounting, auditing, and ethics standards worldwide.
Objectives of IFAC
- To develop and promote international standards for the accountancy profession.
- To promote the adoption and implementation of high-quality accounting, auditing, and ethics standards.
- To contribute to the development of the accounting profession globally.
- To facilitate cooperation among member organizations.
Structure of IFAC
- IFAC is governed by a Board of Directors.
- The Board is composed of representatives from member organizations from around the world.
- IFAC has a number of committees and working groups that develop and promote its standards.
Role of IFAC
- IFAC plays a vital role in the development and adoption of international accounting standards.
- It is the only global organization that sets standards for the accounting profession.
- IFAC's standards are used by accountants in over 130 countries and jurisdictions.
- IFAC also provides a forum for discussion and cooperation among member organizations.
Essential Questions and Answers on International Federation of Accountants AcronymFinder in "GOVERNMENTAL»FEDERATIONS"
What is IFAC's full form?
The full form of IFAC is the International Federation of Accountants.
What is IFAC's mission?
IFAC's mission is to serve the public interest by strengthening the profession and contributing to the development of strong international economies.
What are IFAC's objectives?
IFAC's objectives include developing and promoting high-quality standards for accounting, auditing, ethics, and education; supporting the development of strong professional accountancy organizations; and facilitating cooperation among the accountancy profession, business, and government.
What are IFAC's main activities?
IFAC's main activities include setting international standards for accounting, auditing, and ethics; developing guidance and support materials for professional accountants; and providing training and support to professional accountancy organizations.
Who are IFAC's members?
IFAC's members are professional accountancy organizations from more than 130 countries and jurisdictions.
Final Words: IFAC is a leading global organization that plays a vital role in the development and adoption of high-quality accounting standards. Its work helps to ensure that the accounting profession is able to meet the needs of the public interest.