International Federation Of Accountants - IFAC

AAA

DEFINITION of 'International Federation Of Accountants - IFAC'

The worldwide organization for the accountancy profession. The International Federation of Accountants (IFAC) strives to serve the public interest by establishing and promoting adherence to international standards, facilitating cooperation with member bodies, and serving as a spokesperson for the international profession on relevant public policy issues.

INVESTOPEDIA EXPLAINS 'International Federation Of Accountants - IFAC'

IFAC's boards set international standards in a number of areas including auditing, quality control, education, public sector accounting and ethics for professional accountants.

While IFAC was founded on October 7, 1977, in Munich, its headquarters have been located in New York City since its inceptions.

RELATED TERMS
  1. Accountant International Study ...

    An organization that studied the differences in accounting practices ...
  2. Financial Accounting Standards ...

    A seven-member independent board consisting of accounting professionals ...
  3. International Accounting Standards ...

    An older set of standards stating how particular types of transactions ...
  4. International Financial Reporting ...

    A set of international accounting standards stating how particular ...
  5. American National Standards Institute ...

    An organization that oversees the creation and dissemination ...
  6. Book Value Reduction

    Reducing the value at which an asset is carried on the books ...
Related Articles
  1. International Reporting Standards Gain ...
    Insurance

    International Reporting Standards Gain ...

  2. What is the difference between IAS and ...
    Investing

    What is the difference between IAS and ...

  3. Payback Period
    Investing

    Payback Period

  4. When is revenue recognized under accrual ...
    Fundamental Analysis

    When is revenue recognized under accrual ...

comments powered by Disqus
Hot Definitions
  1. Halloween Massacre

    Canada's decision to tax all income trusts domiciled in Canada. In October 2006, Canada's minister of finance, Jim Flaherty, ...
  2. Zombies

    Companies that continue to operate even though they are insolvent or near bankruptcy. Zombies often become casualties to ...
  3. Witching Hour

    The last hour of stock trading between 3pm (when the bond market closes) and 4pm EST. Witching hour is typically controlled ...
  4. October Effect

    The theory that stocks tend to decline during the month of October. The October effect is considered mainly to be a psychological ...
  5. Repurchase Agreement - Repo

    A form of short-term borrowing for dealers in government securities.
  6. Correlation

    In the world of finance, a statistical measure of how two securities move in relation to each other. Correlations are used ...
Trading Center