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. Expanded Accounting Equation

    The expanded accounting equation is derived from the accounting ...
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. Material Adverse Effect A Warning Sign ...
    Markets

    Material Adverse Effect A Warning Sign ...

  4. Footnotes: Early Warning Signs For Investors
    Retirement

    Footnotes: Early Warning Signs For Investors

comments powered by Disqus
Hot Definitions
  1. Ghosting

    An illegal practice whereby two or more market makers collectively attempt to influence and change the price of a stock. ...
  2. Elasticity

    A measure of a variable's sensitivity to a change in another variable. In economics, elasticity refers the degree to which ...
  3. Tangible Common Equity - TCE

    A measure of a company's capital, which is used to evaluate a financial institution's ability to deal with potential losses. ...
  4. Yield To Maturity (YTM)

    The rate of return anticipated on a bond if held until the maturity date. YTM is considered a long-term bond yield expressed ...
  5. Net Present Value Of Growth Opportunities - NPVGO

    A calculation of the net present value of all future cash flows involved with an additional acquisition, or potential acquisition. ...
  6. Gresham's Law

    A monetary principle stating that "bad money drives out good." In currency valuation, Gresham's Law states that if a new ...
Trading Center