The International Federation of Accountants (IFAC) is the global organization for the accountancy profession, established in 1977. It has over 175 member organizations representing almost 3 million accountants globally. IFAC develops high-quality international standards, promotes their adoption, builds capacity, and advocates on public interest issues related to auditing, assurance, ethics, education, and public sector accounting. It is governed by a Council and overseen by independent standard-setting boards and committees.

1. International Federation of Accountants
Strengthening Organizations, Advancing Economies

2. Welcome To our
Presentation

3. Agenda Layout
1 About IFAC
History
3
2
Organization Overview
4
4
Structure & Governance
5
5
Board Subcommittees
6 Membership
Financial Statement7

4. International Federation of Accountants (IFAC)
Formation: October 7, 1977; 41 years ago
Type: INGO
Legal status: Association established under
Swiss Civil Code
Headquarters: New York City, United States
Location: Geneva, Switzerland
Membership: 175
CEO: Fayezul Choudhury (from February
2013)
President: In-Ki Joo, Republic of Korea(2018-
2020)
Website: http://www.ifac.org

5. About IFAC
IFAC
is the global organization
for the accountancy
profession dedicated to
serving the public interest
by strengthening the
profession and contributing to
the development of strong
international economies.
IFAC
is comprised of over 175
members and associates in
more than 130 countries and
jurisdictions, representing almost
3 million accountants in public
practice, education,
government service, industry,
and commerce.

6. History
The International Federation of Accountants
was founded on October 7, 1977, in Munich,
Germany, at the 11th World Congress of
Accountants.
IFAC was established to strengthen the
worldwide accountancy profession in the
public interest by developing high-quality
international standards in auditing and
assurance,
Public sector accounting, ethics, and
education for professional accountants
and supporting their adoption and use.
Founding
At the first meeting of the IFAC Assembly
and Council in October 1977, a 12-point
work program was developed to guide
IFAC committees and staff through the first
five years of activities. Many elements of
this work program are still relevant today.
Beginning with 63 founding members
from 51 countries in 1977, IFAC’s
membership has grown to now include over
175 members and associates in more than
130 countries and jurisdictions worldwide

7. Some of IFAC’s President
Reinhard Goerdeler
Founding President
Germany (1977–1980)
Olivia Kirtley
President
United States (2014-
2016)
President
Australia(2016-2018)
In-Ki Joo
President
Republic of Korea,
(2018-2020)
Rachel Grimes

8. Organization Overview
Organization
Overview
Mission
Vision
IFAC’s vision is that the global
accountancy profession be recognized
as essential to strong and sustainable
organizations, financial markets, and
economies.
• Supporting the development of
high-quality international standards.
• Promoting the adoption and
implementation of these standards.
• Building the capacity of
professional accountancy organizations.
• Speaking out on public interest
issues.
Values
• Honesty and Integrity
• Excellence and Relevance
• Sustainability
• Diversity and Inclusivity

9. Organization
Overview
Goals
• Organize and sponsor high-quality technical meetings that are
relevant to the automatic control community.
• Be a trusted source of publication material on automatic control
renowned for its technical excellence.
• Help create an environment within which the automatic control
community can prosper.
• Provide volunteers and staff with meaningful and rewarding
opportunities for career-enhancing participation in the Federation
• Help promote the benefits of automatic control among the public
at large.

10. The International Auditing
and Assurance Standards
Board is an independent
standard-setting body that
serves the public interest by
setting high-quality
international standards for
auditing, assurance, and
other related areas, and
by facilitating their adoption
and implementation.
IAASB
The International Accounting
Education Standards Board
(IAESB™) is an
independent standard
setting body that serves the
public interest by
establishing standards in the
area of professional
accounting education that
prescribe technical compete
nce and professional skills,
values, ethics, and attitudes.
IAESB
The International Ethics
Standards Board for
Accountants® (IESBA®)
is an independent
standard-setting body
that serves the public
interest by setting
robust, internationally
appropriate ethics standards
, including auditor
independence requirements,
for professional accountants
worldwide.
IESBA
The International Public
Sector Accounting
Standards Board
(IPSASB®) works to
improve public sector
financial reporting worldwi
de through the
development of IPSAS®,
international accrual-
based accounting
standards, for use by
governments and other
public sector entities
around the world.
IPSASB
Independent Standard-Setting
Boards

11. Structure & Governance
IFAC's structure and governance are designed to promote transparency,
to facilitate collaboration with members and consultation with stakeholders, and
to ensure the effective operations of the organization. Founded in 1977, IFAC is
a Swiss-registered association whose members are professional accountancy
organizations.
Role of the Council
Ultimate governance of IFAC rests with the IFAC Council, which comp
rises one representative from each member. The Council usually mee
ts once a year and is responsible for deciding constitutional and strate
gic matters and electing the Board.
IFAC’s Constitution, approved in February 2014, and Bylaws, amended
in November 2017, detail the responsibilities and authority of IFAC’s
Council and Board. They also address IFAC’s mission, membership
requirements, and the election/appointment of IFAC officers (President,
Deputy President, CEO, and Swiss liaison).

12. Board Subcommittees
Audit Committee Governance
Committee
Planning and
Finance Committee
Public Policy &
Regulation Advisory
Group
The Audit Committee
recommends the
appointment of the
external auditor to the
Council, and provides
an avenue of communic
ation between the
external auditor,
management, and the
Board. It also monitors
IFAC’s risk
management.
The Governance
Committee oversees
the effectiveness of
IFAC’s governance and
the development and
implementation of
sound governance
policies and procedures
The Planning and
Finance Committee
oversees managements
development,
implementation, and
monitoring of IFAC’s
strategies and the
financial activities
required to implement
those strategies.
The Public Policy &
Regulation Advisory
Group provides guidance,
input, and expertise
to the IFAC Public Policy
& Regulation
Department for its
development of policy
positions, research
projects, interactions
with external organizatios,
and other initiatives.

13. Membership
IFAC is comprised of over 175 Members and Associates in over 130 countries and jurisdiction
representing almost 3 million accountants in public practice, education, government
service, industry, and commerce. IFAC Members and Associates are professional
accountancy organizations (PAOs) recognized by law or general consensus within their
countries as substantial national organizations.
Value of Membership
• Become part of the global voice of the profession
• Obtain access to information, resources, and support to help strengthen
the profession locally, regionally, and nationally
• Provide input on critical global issues and contribute to the global agenda

14. Financial Statement
of IFAC
Year 2017