International Federation of Accountants (IFAC) - In the Outposts of the Fight for Exceeding the Effects of the Financial Economical Crises

Author:Alexandra JORA

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Keywords:IFAC, single set of international standards, public interest, full member, global financial crises, professional accountant, financial auditor

Abstract:
The current article makes a presentation of the most representative organization of the accountancy profession, the International Federation of Accountants, established in 1977. The Chamber of Financial Auditors of Romania became a full IFAC member on 13th November 2008, continuing to assume the role of guiding and organizing the financial audit activity at the highest international standards, according to the principles and the provisions issued by IFAC.\r\nAssuming the role and the responsibility in regard to the public interest and in regard to the 2,5 millions of professional accountants represented, IFAC is organized in a sum of collaborating committees and councils that are also co-working with the member organizations who have the role of providing feedback and continuous assistance within the process of setting international standards, guidance and carrying out other IFAC studies and researches.\r\nWithin the context of the current economic crises, IFAC made all the necessary efforts for assisting the profession, by adapting and consolidating the international standards and by making recommendations to the G20 Working Groups during the summits organized in 2009. IFAC has also opened an internet page on its website where one can find the most important recommendations documents and information that can facilitate exceeding the crises and regaining the trust of the interested parties. \r\nIFAC promotes the adoption and the implementation of a single set of global standards to facilitate the activity of the professional accountants at international level. CFAR has fully adopted and implemented the International Standards on Auditing as well as the Code of Ethics issued by IFAC, and keeps on maintaining the position of professional body that regulates the Romanian audit profession, at the highest levels. \r\n\r\n

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