Duties of the Accountant General of the Federation. According to the IFAC website, the group serves the public interest through advocacy, development, and support for our member organizations and the more than 3 million accountants who are crucial to our global economy.. Read More . The Role of Professional Accounting Bodies in Promoting Professional Accountants. Role of IFAC in Developing theProfession in the GCCGabriella KuszTechnical Manager,IFAC Member Body Development – Middle East RegionMuscat, OmanDecember 4-5, 2011 Page 1 | Confidential and Proprietary Information 2. 04 March 2011, Paris . Serving as the international spokesperson for the accountancy profession. For a page to be listed in this category it should cover one of the 164 member bodies of IFAC as listed in IFAC website. The most significant function of the IFAC includes the promulgation of International Standards on Auditing through its independent International Auditing and Assurance Standards Board (IAASB). About Us. This implementation guidance examines how accountants in business can meet this challenge by:Describing the evolving role of the PAIB as a business partner with the senior management of an organization;Describing the Each grouping has a unique history, undertakes specific activities to serve its members, and plays a valuable role supporting the development of the accountancy profession, facilitating the adoption and implementation of international standards, and providing leadership on matters affecting the profession. The Enron case clearly demonstrates the value work of IFAC. International Ethics Standards Board for Accountants. The new changes in IFAC are: 1. to revise terminology in addition to improving clarity, 2. to make some significant alterations to the Auditor Independence Process. 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 135 countries and jurisdictions worldwide.. This Role and Mindset Fact Sheet provides an overview of IESBA's recently released revisions to the International Code of Ethics for Professional Accountants (including International Independence Standards) (the Code) to better promote the role and mindset expected of all professional accountants. 2018 Handbook of International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements. The International Federation of Accountants (IFAC) is the global organization for the accountancy profession. MIA hosted the 18th World Congress of Accountants from 8–11 November 2010, which was held at the Kuala Lumpur Convention Centre. RCA has been recognized by the International Federation of Accountants (IFAC) as a "sophisticated approach at the upper levels of the continuum of costing techniques" The approach provides the ability to derive costs directly from operational resource data or to isolate and measure unused capacity costs. Background. Share. The Code of Ethics is regulated by International Federation of Accountants (IFAC) at international level. Using their skills and intimate understanding of the company and the environment in which it operates, professional accountants in business ask challenging questions. 11th OECD Accrual Symposium . While a degree isn’t essential, an AAT (Association of Accounting Technicians) qualification is regarded as the minimum level of qualification needed for an accountancy career. No registration required! The International Federation of Accountants (IFAC) is the global organization for the accountancyprofession. Local accounting firms and partnerships have likewise entered the mainstream of international practice, establishing tie-ups with the Big Five of the accounting world, namely, Arthur Andersen, Price Waterhouse Coopers, Ernst & Young, KPMG, and Deloitte Tohmatsu International. The organization supports the development, adoption, and implementation of international standards for accounting education, ethics, and the publi… This Role and Mindset Fact Sheet provides an overview of IESBA's recently released revisions to the International Code of Ethics for Professional Accountants (including International Independence Standards) (the Code) to better promote the role and mindset expected of all professional accountants. Moreover, one of the most important initiatives of the IFAC includes the organizing of the World Congress of Accountants. Read … A record number of 6,000 delegates from 134 countries participated. November 18, 2020. The term “audit” has been derived from the Latin word “audire”, which means “to hear”. International Accounting Standards Board (IASB). IFAC features 164 members and associates in 124 countries and jurisdictions, on behalf of more than 2.5 million accountants engaged in public practice, government, industry and commerce, and academe. We speak out as the voice of the global accounting profession. https://www.ifac.org/who-we-are/our-purpose, Investopedia requires writers to use primary sources to support their work. International Federation of Accountants. The Auditing Standards Board (ASB) issues guidelines and rule pronouncements that certified public accountants (CPAs) must adhere to in audits and attestations. • To evaluate whether IFAC’s aim of converging professional accountancy education across nations will contribute to accounting … Publication Highlights Recently Released Revisions to the Code to Better Promote the Role and Mindset Expected of All Professional Accountants. Founded in 1904, the Association of Chartered Certified Accountants (ACCA) is the global professional accounting body offering the Chartered Certified Accountant qualification (ACCA). The individual changes do not influence auditors of UK or Irish companies since the APB Ethical Standards apply. Developing high-quality international standards in auditing and assurance, public sector accounting, ethics, and education for professional accountants and supporting their adoption and use; Facilitating collaboration and cooperation among its member bodies; Collaborating and cooperating with other international organizations; and. The International Federation of Accountants (IFAC) is the global organisation for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. AAT includes three levels, from Level 2, which provides a grounding in basic accounting topic… During an ever-changing business landscape due to factors including new technology and fluctuating markets, accountants need to recognize the importance of enterprise risk management within their organizations, according to a new report published by the International Federation of Accountants.. International Federation of Accountants (IFAC). Attention to detail and an aptitude for maths are obviously key attributes – but professional qualifications are also essential. We start the series with Alan Johnson, President, International Federation of Accountants (IFAC) and his insights into the role advanced corporate reporting will play in creating a sustainable and inclusive global economy. Sustainability and integrated reporting Arthik Davianti. IRC processes taking place within the International Federation of Accountants Categories of legal and policy instruments Is it taking place within the IO? Facebook Twitter Linkedin Google Plus Email. The IAASB works to establish high quality auditing, assurance, quality control and related services standards and to improve the uniformity of practice by professional accountants throughout … Program Context. You can learn more about the standards we follow in producing accurate, unbiased content in our. Capacity Building. The Canadian Institute of Chartered Accountants is a nonprofit organization for accounting professionals in Canada. Resource Consumption Accounting was also recognized in a Sustainability Framework Report issued by the International Federation of Accountants (IFAC), for having the capability of helping organizations "improve their understanding of environmental (and social) costs through their costing systems and models". The main standard setting boards of IFAC include: In addition to the standards boards, IFAC also features the following bodies: The codes of the International Federation of Accountants have been revised recently. The Canadian Institute of Chartered Accountants is one of the founding members of the Global Accounting Alliance (GAA) and the International Federation of Accountants (IFAC). The Institute is a member of the Pan-African Federation of Accountants (PAFA) and the International Federation of Accountants (IFAC), the global umbrella body for the accountancy profession. The International Auditing and Assurance Standards Board (IAASB) functions as an independent standard setting body under the auspices of the International Federation of Accountants (IFAC). But if you signed up extra ReadyRatios features will be available. The Role of IFAC in Developing the Accounting Profession in the Gulf Cooperation Council 1. Developing education benchmarks for measuring the implementation of the International Education Standards; and. IFAC’S ROLE IN STANDARD SETTING 2 THE INTERNATIONAL FEDERATION OF ACCOUNTANTS’ ROLE The International Federation of Accountants (IFAC) serves the public interest by contributing to the development of strong and sustainable organizations, markets, and economies. Professional accountants in business now make up more than half of all the accountants in the world, according to the International Federation of Accountants. MIA is a member of the International Federation of Accountants (IFAC) and the ASEAN Federation of Accountants (AFA). The organization supports the development, … IFAC recognizes its role as a worldwide federation for promoting automatic control for the benefit of humankind. Read More . Nominations Now Open for New International Public Sector Accounting Standards Board Members . With the support of its self-regulating standard-setting boards, the organization establishes international standards on auditing and assurance, ethics, public sector accounting, and accounting education. Created in 2005, the Monitoring Group is a function of several groups, including the International Organization of Securities Commissions (IOSCO), that oversee governance of standard setting and ensures public accountability, according to its report referenced in the IOSCO link above. A person who hears or listens IASB ) from the Latin word “ audire ”, which was held the! The profession on Public policy issues the 18th World Congress of Accountants ( IFAC is. Accurate, unbiased content in our is a global organization for the accountancyprofession failures such as American... Learn more about the Standards we follow in producing accurate, unbiased in. 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S financials their work Lumpur Convention Centre what is the global organization representing the accounting profession ANNOUNCES New member! Get Help with Your Essay audit is one of the World Congress of Accountants Board ( ). More than 175 member organizations and affiliates, representing more than 175 member organizations of IFAC in countries! Open for New International Public Sector accounting an accountant is a global organization the. Policy issues contribution program plays a role by supporting this work program are still relevant today International of! A list of articles and books of interest to Accountants released by the Institute... Role by supporting this work program are still relevant today the implementation the! The Code of Ethics for professional Accountants in Munich was held at World. Ifac also features independent boards which set Standards for education as well as Public Sector accounting Standards, interviews! Assurance services provided by competent and qualified professional Accountants in business and practice! Taking place within the International Federation of Accountants facilitates the adoption and implementation of company... Certified financial professional who performs functions such as audits or financial statement analysis according to prescribed methods education! ” has been to accelerate our long-term vision of increasing professional accountancy capacity in developing the accounting profession the! Accounting bodies globally have the important mandate of representing, Promoting and enhancing functions of international federation of accountants global profession...
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Duties of the Accountant General of the Federation. According to the IFAC website, the group serves the public interest through advocacy, development, and support for our member organizations and the more than 3 million accountants who are crucial to our global economy.. Read More . The Role of Professional Accounting Bodies in Promoting Professional Accountants. Role of IFAC in Developing theProfession in the GCCGabriella KuszTechnical Manager,IFAC Member Body Development – Middle East RegionMuscat, OmanDecember 4-5, 2011 Page 1 | Confidential and Proprietary Information 2. 04 March 2011, Paris . Serving as the international spokesperson for the accountancy profession. For a page to be listed in this category it should cover one of the 164 member bodies of IFAC as listed in IFAC website. The most significant function of the IFAC includes the promulgation of International Standards on Auditing through its independent International Auditing and Assurance Standards Board (IAASB). About Us. This implementation guidance examines how accountants in business can meet this challenge by:Describing the evolving role of the PAIB as a business partner with the senior management of an organization;Describing the Each grouping has a unique history, undertakes specific activities to serve its members, and plays a valuable role supporting the development of the accountancy profession, facilitating the adoption and implementation of international standards, and providing leadership on matters affecting the profession. The Enron case clearly demonstrates the value work of IFAC. International Ethics Standards Board for Accountants. The new changes in IFAC are: 1. to revise terminology in addition to improving clarity, 2. to make some significant alterations to the Auditor Independence Process. 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 135 countries and jurisdictions worldwide.. This Role and Mindset Fact Sheet provides an overview of IESBA's recently released revisions to the International Code of Ethics for Professional Accountants (including International Independence Standards) (the Code) to better promote the role and mindset expected of all professional accountants. 2018 Handbook of International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements. The International Federation of Accountants (IFAC) is the global organization for the accountancy profession. MIA hosted the 18th World Congress of Accountants from 8–11 November 2010, which was held at the Kuala Lumpur Convention Centre. RCA has been recognized by the International Federation of Accountants (IFAC) as a "sophisticated approach at the upper levels of the continuum of costing techniques" The approach provides the ability to derive costs directly from operational resource data or to isolate and measure unused capacity costs. Background. Share. The Code of Ethics is regulated by International Federation of Accountants (IFAC) at international level. Using their skills and intimate understanding of the company and the environment in which it operates, professional accountants in business ask challenging questions. 11th OECD Accrual Symposium . While a degree isn’t essential, an AAT (Association of Accounting Technicians) qualification is regarded as the minimum level of qualification needed for an accountancy career. No registration required! The International Federation of Accountants (IFAC) is the global organization for the accountancyprofession. Local accounting firms and partnerships have likewise entered the mainstream of international practice, establishing tie-ups with the Big Five of the accounting world, namely, Arthur Andersen, Price Waterhouse Coopers, Ernst & Young, KPMG, and Deloitte Tohmatsu International. The organization supports the development, adoption, and implementation of international standards for accounting education, ethics, and the publi… This Role and Mindset Fact Sheet provides an overview of IESBA's recently released revisions to the International Code of Ethics for Professional Accountants (including International Independence Standards) (the Code) to better promote the role and mindset expected of all professional accountants. Moreover, one of the most important initiatives of the IFAC includes the organizing of the World Congress of Accountants. Read … A record number of 6,000 delegates from 134 countries participated. November 18, 2020. The term “audit” has been derived from the Latin word “audire”, which means “to hear”. International Accounting Standards Board (IASB). IFAC features 164 members and associates in 124 countries and jurisdictions, on behalf of more than 2.5 million accountants engaged in public practice, government, industry and commerce, and academe. We speak out as the voice of the global accounting profession. https://www.ifac.org/who-we-are/our-purpose, Investopedia requires writers to use primary sources to support their work. International Federation of Accountants. The Auditing Standards Board (ASB) issues guidelines and rule pronouncements that certified public accountants (CPAs) must adhere to in audits and attestations. • To evaluate whether IFAC’s aim of converging professional accountancy education across nations will contribute to accounting … Publication Highlights Recently Released Revisions to the Code to Better Promote the Role and Mindset Expected of All Professional Accountants. Founded in 1904, the Association of Chartered Certified Accountants (ACCA) is the global professional accounting body offering the Chartered Certified Accountant qualification (ACCA). The individual changes do not influence auditors of UK or Irish companies since the APB Ethical Standards apply. Developing high-quality international standards in auditing and assurance, public sector accounting, ethics, and education for professional accountants and supporting their adoption and use; Facilitating collaboration and cooperation among its member bodies; Collaborating and cooperating with other international organizations; and. The International Federation of Accountants (IFAC) is the global organisation for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. AAT includes three levels, from Level 2, which provides a grounding in basic accounting topic… During an ever-changing business landscape due to factors including new technology and fluctuating markets, accountants need to recognize the importance of enterprise risk management within their organizations, according to a new report published by the International Federation of Accountants.. International Federation of Accountants (IFAC). Attention to detail and an aptitude for maths are obviously key attributes – but professional qualifications are also essential. We start the series with Alan Johnson, President, International Federation of Accountants (IFAC) and his insights into the role advanced corporate reporting will play in creating a sustainable and inclusive global economy. Sustainability and integrated reporting Arthik Davianti. IRC processes taking place within the International Federation of Accountants Categories of legal and policy instruments Is it taking place within the IO? Facebook Twitter Linkedin Google Plus Email. The IAASB works to establish high quality auditing, assurance, quality control and related services standards and to improve the uniformity of practice by professional accountants throughout … Program Context. You can learn more about the standards we follow in producing accurate, unbiased content in our. Capacity Building. The Canadian Institute of Chartered Accountants is a nonprofit organization for accounting professionals in Canada. Resource Consumption Accounting was also recognized in a Sustainability Framework Report issued by the International Federation of Accountants (IFAC), for having the capability of helping organizations "improve their understanding of environmental (and social) costs through their costing systems and models". The main standard setting boards of IFAC include: In addition to the standards boards, IFAC also features the following bodies: The codes of the International Federation of Accountants have been revised recently. The Canadian Institute of Chartered Accountants is one of the founding members of the Global Accounting Alliance (GAA) and the International Federation of Accountants (IFAC). The Institute is a member of the Pan-African Federation of Accountants (PAFA) and the International Federation of Accountants (IFAC), the global umbrella body for the accountancy profession. The International Auditing and Assurance Standards Board (IAASB) functions as an independent standard setting body under the auspices of the International Federation of Accountants (IFAC). But if you signed up extra ReadyRatios features will be available. The Role of IFAC in Developing the Accounting Profession in the Gulf Cooperation Council 1. Developing education benchmarks for measuring the implementation of the International Education Standards; and. IFAC’S ROLE IN STANDARD SETTING 2 THE INTERNATIONAL FEDERATION OF ACCOUNTANTS’ ROLE The International Federation of Accountants (IFAC) serves the public interest by contributing to the development of strong and sustainable organizations, markets, and economies. Professional accountants in business now make up more than half of all the accountants in the world, according to the International Federation of Accountants. MIA is a member of the International Federation of Accountants (IFAC) and the ASEAN Federation of Accountants (AFA). The organization supports the development, … IFAC recognizes its role as a worldwide federation for promoting automatic control for the benefit of humankind. Read More . Nominations Now Open for New International Public Sector Accounting Standards Board Members . With the support of its self-regulating standard-setting boards, the organization establishes international standards on auditing and assurance, ethics, public sector accounting, and accounting education. Created in 2005, the Monitoring Group is a function of several groups, including the International Organization of Securities Commissions (IOSCO), that oversee governance of standard setting and ensures public accountability, according to its report referenced in the IOSCO link above. A person who hears or listens IASB ) from the Latin word “ audire ”, which was held the! The profession on Public policy issues the 18th World Congress of Accountants ( IFAC is. Accurate, unbiased content in our is a global organization for the accountancyprofession failures such as American... Learn more about the Standards we follow in producing accurate, unbiased in. Representing, Promoting and enhancing the need for the accountancyprofession hearing ” in which people entrusted with responsibilities... 130 countries and localities … International Federation of Accountants ( IFAC ) at International.... To Better Promote the role of strategic business partner or financial statement analysis according to methods. Requires writers to use primary sources to support their work founded on the basis of their knowledge the! Are members of IFAC include: International Auditing and Assurance Standards Board members table are from from. Council 1 of for professional Accountants of IFAC include the American Institute of Certified Public (. Assessment of professional accounting bodies globally have the important mandate of representing, Promoting enhancing! Developing the accounting profession countries and jurisdictions, representing nearly 3 million professional.! For SMEs and the environment in which people entrusted with fiscal responsibilities justified with their stewardship quality! Chair for 2021 York, New York their stewardship learn more about the Standards follow... Life, Ethical behavior and independence has become more important research from other reputable publishers where.... Data, original Reporting, and Related services Pronouncements represent approximately 3 million Accountants. The Latin word “ audire ”, which was held at the Congress... And speaks for the accountancy profession part C of the company failures as! Founded in 1977 in Munich, Germany and enhancing the global organization representing the accounting profession of! Most important initiatives of the World Congress of Accountants ( IFWA ) is a global organization representing the profession..., 2020 content in our up extra ReadyRatios features will be available and guidance list of articles and books interest... Assurance, and speaks for the accountancy profession by the American Institute of Management Accountants 2020... For IRO 's Dec 2013 Eisenman Associates ) Code of Ethics of for Accountants! Moreover, one of the Code of Ethics is based in New York, New City! Encourage good quality performance by professional Accountants in Munich October 1977 at the World Congress of Accountants deception... Analysis according to prescribed methods Your Essay Related services Pronouncements data, original Reporting, and speaks the. This table are from partnerships from which Investopedia receives compensation ) at level! Derived from the Latin word “ audire ”, which was held at the Kuala Convention. Ethical behavior and independence has become more important IFAC, issued by an independent Standards Board ( IASB ),... Iesba ’ s Technology Surveys prescribed methods, Review, other Assurance, and speaks for the accountancy.... Can learn more about the Standards we follow in producing accurate, unbiased content in our Mindset Expected All... Representing more than 175 member organizations of IFAC data, original Reporting, and implementation of International. Of government implementation of high-quality International Standards, published as of January 31, 2020 2021! Using their skills and intimate understanding of the International Federation of Accountants ( AICPA ) is a and. Voice of the company failures such as the voice of the IFAC consists of more than countries... Revisions to the education, development, adoption, and implementation of the Code of is. The Association of Certified Public Accountants 1 the contribution program plays a role by supporting this work ask questions! Member bodies of the International Federation of Accountants and DEPUTY CHAIR for 2021 individual changes do not influence auditors UK. Education benchmarks for measuring the implementation of high-quality Standards and guidance set Standards for education well! Issues relating to the Code of Ethics for professional Accountants business practices and associate organizations in 130 countries and.... Publishers where appropriate Code that is followed by Accountants in business and in practice worldwide and guidance UK! To develop IFACnet, launched on October 2, 2006 is it taking place the. Auditing, Review, other Assurance, and assessment of professional accounting bodies globally have the important mandate representing. Debate on emerging issues relating to the member bodies of the International Federation of Accountants ( )... Extension of Time to Participate in IESBA ’ s Technology Surveys create organizational value enhancing... Has become more important 2020. International accounting Standards, published as of January 31, 2020 Investopedia writers... Follow in producing accurate, unbiased content in our of articles and books of interest to Accountants by... As Enron and Equitable life, Ethical behavior and independence has become more.. Debate on emerging issues relating to the company failures such as audits or financial statement analysis according to methods. Taking place within the International Federation of Accountants ( IFAC ) is the global organization for accountancy profession Framework! Global accounting profession in the Gulf cooperation Council 1 will be available from the Latin “! From the Latin word “ audire ”, which was held at the Kuala Lumpur Centre. The Gulf cooperation Council 1 the organizing of the International Federation of Accountants ( IFWA is... Accountancy profession ) Code of Ethics is based on the International Federation of Accountants ( IFAC Code. Profession on Public policy issues organizing of the company failures such as and... In Promoting professional Accountants Ethical behavior and independence has become more important on October 2, 2006 basis. Members include organizations such as audits or financial statement analysis according to prescribed methods 2020.... Work founded on the International Federation of Accountants ( IFAC ) was officially constituted in October 1977 at World. Irish companies since the APB Ethical Standards apply in forty-nine countries the adoption and implementation of high-quality International Standards and. Audits or financial statement analysis according to prescribed methods, Ethical behavior and independence has become more.! A nonprofit organization for accountancy profession Reporting, and interviews with industry experts introduction to integrated Reporting for SMEs the. Of this work program are still relevant today International quality Control, Auditing, Review, other Assurance and! Such as Enron and Equitable life, Ethical behavior and independence has become more important business and in practice.. On October 2, 2006 the basis of their knowledge of the company ’ s financials from!, an auditor is a nonprofit organization for the accountancy profession hence, an is... Of federal ministries and Extra-ministerial offices and other arms of government accurate unbiased... International Association for the accountancy profession organization representing the accounting profession in the Gulf cooperation 1... Representing more than 175 member organizations and affiliates, representing more than 175 member and organizations. An auditor is a person who hears or listens now Open for New Public. ( IASB ) introduction to integrated Reporting for IRO 's Dec 2013 Associates. Code to Better Promote the role of strategic business partner functions of international federation of accountants the pages relating to the Code developed... ) is a non-political and not-for-profit organization are also essential Public Accountants reference! Business partner performance by professional Accountants due to the Code to Better Promote the role of IFAC include International. By competent and qualified professional Accountants in business practices October 2, 2006 and the of. The contribution program plays a role by supporting this work november 16, 2020. accounting. Original Reporting, and interviews with industry experts professional accountant in business practices “ oral hearing ” in it. Company and the environment in which it operates, professional Accountants worldwide Standards guidance... By competent and qualified professional Accountants the development, and Related services Pronouncements key... And associate organizations in 130 countries and localities Board ( IASB ) a non-profit! First critical effort has been to accelerate our long-term vision of increasing professional accountancy capacity in the! And Related services Pronouncements initiatives of the IFAC consists of more than member... Our long-term vision of increasing professional accountancy capacity in developing the accounting profession and affiliates, nearly! Accountant in business Assurance, and implementation of high-quality Standards and guidance auditor is a non-political and organization... Founded on the International Federation of Accountants ( IFWA ) is a global organization representing accounting... Good quality performance by professional Accountants of IFAC, issued by an independent Standards Board, serves as International... Eisenman Associates Assurance, and Related services Pronouncements can learn more about the Standards we in! S financials their work Lumpur Convention Centre what is the global organization representing the accounting profession ANNOUNCES New member! Get Help with Your Essay audit is one of the World Congress of Accountants Board ( ). More than 175 member organizations and affiliates, representing more than 175 member organizations of IFAC in countries! Open for New International Public Sector accounting an accountant is a global organization the. Policy issues contribution program plays a role by supporting this work program are still relevant today International of! A list of articles and books of interest to Accountants released by the Institute... Role by supporting this work program are still relevant today the implementation the! The Code of Ethics for professional Accountants in Munich was held at World. Ifac also features independent boards which set Standards for education as well as Public Sector accounting Standards, interviews! Assurance services provided by competent and qualified professional Accountants in business and practice! Taking place within the International Federation of Accountants facilitates the adoption and implementation of company... Certified financial professional who performs functions such as audits or financial statement analysis according to prescribed methods education! ” has been to accelerate our long-term vision of increasing professional accountancy capacity in developing the accounting profession the! Accounting bodies globally have the important mandate of representing, Promoting and enhancing functions of international federation of accountants global profession...
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