2020 ifac integrated annual review · 2021. 7. 28. · 2020 ifac integrated annual review | 5 “in...

2020 IFAC INTEGRATED ANNUAL REVIEW

2020 IFAC INTEGRATED ANNUAL REVIEW | 2

IFACrsquos 2020 integrated annual review is a key

element of IFACrsquos accountability to its 180 member

organizations in 135 jurisdictions the Forum of Firms

and other key stakeholders It provides an overview

of IFAC including its governance and stakeholder

engagement strategic objectives value creation

process and performance highlights

Drawing on integrated reporting principles and

concepts as presented in the International Integrated

Reporting ltIRgt Framework the review provides a

concise communication on how IFAC creates value

based on key resources and relationships covering

financial human intellectual social and relationship

capitals While the report does not attempt to detail

every initiative and workstream undertaken during

the year it does aim to provide a helpful overview

of some of our significant work and to impart a

sense of our future direction

We continue to make progress on our own reporting

journey The development of a methodology for

measurement and reduction of our carbon footprint

is a key priority for the organization in 2021 and we

plan to introduce information about IFACrsquos impacts on

natural capital in our report specifically in relation to

the emissions arising from IFACrsquos operations in 2022

IFACrsquos Board contributed to this Review which is

accompanied by our Financial Statements for the

year ended December 31 2020

Copyright copy 2021 by the International Federation of Accountantsreg (IFAC) For copyright trademark and permission information please see back cover

ABOUT THIS REVIEW


TABLE OF CONTENTS

Letter from Our President 4

Letter from Our CEO 5

What We Do 6

Our Governance 7

Strategic Objectives

Speaking out and engaging as the voice for the global profession 10

Leading and developing a future ready profession 13

Contributing to and promoting the development adoption and implementation

of high-quality international standards 16

Our Support Structures and Resources 20

Appendices 22

Financial Highlights

Our Global Network

Members

Associates

Affiliates

IFAC Network Partners

Our Volunteers

IFAC Board

IFAC Board Subcommittees amp Advisory Groups

Nominating Committee

IFAC Advisory Groups


In my nearly 50 years as a member of the accountancy

profession I have become resolute in my belief that the

profession is global like no other that its commitment

to public service has no parallel and that the

international standards that govern the professions are

second to none

2020 was an unprecedentedly unique year for

our profession Yet it gave IFAC an opportunity

to demonstrate how nimble and agile we can be

Well before the pandemic erupted our profession

understood the importance of being future-ready and

our ability to respond in positive and meaningful ways

to the challenges of the pandemic has proven this

IFAC pivoted quickly to a virtual environment operating

efficiently and effectively in unchartered situations

Thanks to the management and all the dedicated

IFAC staff the social distancing and remote working

conditions havenrsquot deterred the effective operations

of the IFAC businesses nor the importance of our

connections with the broader accounting ecosystem

We committed to the outreach and engagement that

the profession needed from IFAC at a truly global

moment of uncertainty IFAC built trust with all

stakeholders in the Monitoring Group process and is

now on the cusp of finalizing and implementing the

Monitoring Grouprsquos recommendations We started

work on a bold vision for global sustainability reporting

and began to engage stakeholders to help make it a

reality which was consistent with our long-held view

of the importance of the United Nations Sustainable

Development Goals

Still all that we accomplished in 2020 as IFAC and

as a global profession would have been hard to

imagine just a year earliermdashand our successes did

require considerable effort and skill Our work was a

natural expression of our collective dedication to the

public interest

For me serving IFAC and the profession under these

extraordinary circumstances was the honor of a lifetime

It was also humbling I must again thank all of IFACrsquos

staff and leadership especially CEO Kevin Dancey as

well as our many volunteers who commit so much time

and energy to the profession especially my colleagues

on the IFAC Board A special thank you to those who

completed their terms of service in 2020 with me and

my best wishes to my esteemed successor President

Alan Johnson

As an educator I believe that we must not settle for

where our profession is today Instead we must strive

to prepare new generations for even greater success

to inspire them to go beyond what they think they

can do and to make the world a better place IFAC

showed in 2020 that we can and will strive for that

futuremdashdespite momentous challenges or indeed

because of them

Dr In-Ki Joo

IFAC President

LETTER FROM OUR PRESIDENT

Dr In-Ki Joo


ldquoIn the middle of difficultyrdquo Albert Einstein famously said ldquolies opportunityrdquo

2020 was an exceptionally difficult year by any standard And yet all around the world people rose to the occasion in ways big and small to meet the challenges brought about by COVID-19 The accountancy profession responded quickly to support our public interest mandate and the people communities businesses and economies we serve

Early in the year IFAC established a COVID Resources hub on our websitersquos Knowledge Gateway to help members of our profession successfully navigate unprecedented situations We collected and disseminated a wealth of insight intelligence and best practices to help the profession equip itself optimally to support its clients as everyone started to work remotely This would not have been as successful an undertaking as it was without the cooperative work and contributions of IFACrsquos member organizations and the Forum of Firms

We developed important thought leadership organized webinars and created virtual forums for the profession to connect And we consistently reiterated the importance of our individual and collective public interest responsibilities during this crisis

We also continued our work with the Monitoring Group to enhance the trust and confidence that all stakeholders need to have in the international audit assurance and ethics standard-setting process The work on the 26 workstreams created after the issuance of the Monitoring Grouprsquos recommendations in July 2020 is nearing completion It has been a very successful collaborative process with excellent working relationships among all of the stakeholders We now look forward to implementing all agreed recommendations

We continued to deepen and broaden our relationships with key stakeholders impacting our profession where in addition to addressing the work at hand we are focused on enhancing trustmdashin the profession and with our stakeholders and partners

We honed our focus on enhanced corporate reporting issuing our call for an international sustainability standards board under the auspices of the IFRS Supporting sustainable businesses is perhaps the most important contribution the profession will make to global societies in years ahead and one of the most transformative trends for the profession itself

At the same time we are taking stock of the greatest challenges and opportunities that lay ahead for IFAC and the profession Sustainability and long-term value creation stand to be definitive issues of the coming decade but many other related themes have a prominent place in our agenda We are looking to enhancing audit quality PAO capacity building the future of work education mental health diversity technology tax anti-corruptionmdashto name just a few The future is broad and vibrant and we are continually assessing and acting to help ensure a thriving profession capable of serving the public interest

As ever we are grateful for the collaborative relationships with our member organizations the Forum of Firms and our many other key stakeholders I would also like to recognize our Board of Directors for their significant commitment to the profession and to IFAC And last but not least my thanks to our incredible staff who worked tirelessly and creatively in a most exceptional time

We are excited for the future that we will build together

Kevin Dancey IFAC CEO

LETTER FROM OUR CEO

Kevin Dancey


We use our comparative advantages serving as a global

convener a knowledge gateway and an influential

voice of the professionmdashto help drive such key

outcomes as

bull Strong and sustainable professional accountancy organizations that develop and enhance the quality of professional accountants

bull Confidence in high-quality international standards that are adopted and implemented globally

bull Enhanced recognition of and confidence in professional accountants and their relevance reputation and value

bull Reliable comparable and timely organizational reporting that gives rise to effective decision making

bull Enhanced awareness of and dialogue on public interest and professional issues among key constituencies through a global exchange of knowledge and ideas

bull Effective policy and regulatory decisions aligning the profession with the needs of the public

Ultimately our work is guided by three long-standing

and equally important strategic objectives

bull Speaking out and engaging as the voice for the global profession

bull Leading and developing a future-ready profession

bull Contributing to and promoting the development adoption and implementation of high-quality international standards

Stakeholder engagement and satisfaction drives our

strategy and work program Our annual Stakeholder

Satisfaction Survey captures and measures the views of

our member organizations and the Forum of Firms on

IFACrsquos performance in achieving its Strategic Objectives

This report reviews performance against each of these

objectives and provide highlights of some of our most

important work

IFACrsquoS VISION FOR THE GLOBAL

ACCOUNTANCY PROFESSION IS

TO BE RECOGNIZED AS ESSENTIAL

TO STRONG AND SUSTAINABLE

ORGANIZATIONS FINANCIAL MARKETS

AND ECONOMIES WHILE REMAINING

STEADFAST IN OUR SHARED PURPOSE

WITH OUR MEMBERS TO SERVE THE

PUBLIC INTEREST

WHAT WE DO

HOW IFAC CREATES VALUE

VISION FOR THE PROFESSION

VALUES

IFAC PURPOSE

Essential to Strong Sustainable Organizations Financial Markets and Economies

Integrity Innovation Transparency Collaboration

IFAC with its member organizations serves the public interest by enhancing the relevance reputation and value of the global accountancy profession

IFAC GOVERNANCE

IFAC STRATEGIC OBJECTIVES

IFAC RESOURCES AND INPUTS

Council


Consultation Advice Oversight

Operational and Funding Support for Standard Setting

Oversight

Committees

Audit

Governance

Human Resources and Compensation

Membership

Planning and Finance

STANDARD-SETTING GOVERNANCE

Standard-Setting Boards amp CAGs

International Audit and Assurance Standards Board

International Ethics Standards Board for Accountants

Standard-Setting Board amp CAG

International Public Sector Accounting Standards Board

Public Interest Oversight Board

Public Interest Committee

Monitoring Group

Board

Speaking out amp engaging as the voice for the global profession

Knowledge Group Management Advisory Team Quality amp Development

Leading amp developing a future-ready profession

Contributing to amp promoting the development adoption amp implementation of high-quality international standards SHARED RESOURCES

AND INPUTS

IFAC Staff and Infrastructure Support

Communications

Finance

Governance

HR

IP

Operations

Membership Dues

Forum of Firms

Grants and Other Income

Funding

Staff

IFACrsquos Global Stakeholders Advisory Groups

Member Organizations

Forum of Firms


Standard SetterOversight Bodies

Other Key Stakeholders

Annual CE Forum

Intl Panel on Accountancy Education

Professional Accountants in Business

PAO Development

Public Policy amp Regulation

Small and Medium Practices

Technology

Transnational Auditors

IFAC STRATEGIC ACTIONS

As set out on page 12 of the IFAC Strategic Plan

Global Convener

Knowledge Gateway

Influential Voice

KEY OUTCOMES amp CONTRIBUTION TO SDGS(refer to page 5 of the IFAC Strategic Plan)

Confidence in high-quality international standards that are adopted and implemented across the globe

Reliable comparable and timely organizational reporting that serves as the foundation for effective decision making

Enhanced awareness and dialogue around public interest and professional issues among key constituencies

Effective policy and regulatory decisions aligning the profession with the needs of the public

Strong and sustainable professional accountancy organizations able to equip their members for the future

Enhanced recognition of and confidence in professional accountants and their relevance reputation ethics and value

IFAC PERFORMANCE PRIORITY Continuedrdquo Stakeholder Satisfaction

IFAC KEY ACTIVITIES

REPORTING KPIs Defining Success - IFAC Board | Value to member organizations and global stakeholders - Integrated Annual Review

IFAC COMPARATIVE ADVANTAGES

Promoting amp Monitoring Global Adoption of Standards

Standards Implementation Support

Accountancy Capacity Building

Accountancy Education

Thought Leadership

Policy and Advocacy

We invite you to explore more in How IFAC Creates Value


COUNCIL

IFAC governance ultimately rests with our Council

which comprises one representative from each IFAC

Member While the COVID-19 pandemic required

Council hold a virtual Ordinary Council meeting on

November 11-12 2020 we took the opportunity to

leverage technology to innovate

Among the changes enacted for Council 2020 were

expanding our use of videos (many of which were made

available after the meeting to those who could not

attend) and since we werenrsquot limited by space inviting

additional participation at guest speaker sessions Our

speakers included the chairs of the three independent

standard-setting boards representatives from the

Public Interest Oversight Board (PIOB) Public Interest

Committee (PIC) and the Forum of Firms Veronica

Poole a partner at Deloitte Global IFRS Leader and

Head of Accounting and Corporate Reporting for

Deloitte North and South Europe and multiple speakers

for the new PAO Digital Transformation Initiative Marie

Abery Interim Chief Operations Officer Microsoft Bill

Wilson Director of IT and Facilities ICAEW and Francis

Thomas Co-Founder and Chief Technology Officer

cloudThing (for more information on this initiative see

Case Study PAO Digitalization Initiative)

During the virtual meeting the Council elected a new

president Alan Johnson and deputy president Asmacirca

Resmouki amended the IFAC Bylaws and approved

new board members maintaining our female-majority

IFAC board The Council also approved IFACrsquos Strategic Plan (for 2021 and beyond) and the broad parameters

of the 2021 budget welcomed two new Members and

two new Associates and presented Ana Maria Elorrieta

with the IFAC Global Leadership Award

Prior to our Council meeting we took advantage of

the virtual environment to host a special Monitoring

Group-focused meeting with our member organizations

and other key stakeholders on October 29 During

this special session IFAC CEO Kevin Dancey provided

a comprehensive update on the Monitoring Group

Review and expectations for 2021 The webinar

featured presentations from Monitoring Group

Co-Chair Sagar Teotia PIOB Chair Linda de Beer

IAASB Chair Tom Seidenstein and Global Public Policy

Committee Chair David Barnes This webinar allowed

more time to explain the status of the Monitoring

Grouprsquos Review and facilitate more feedback than

would have been possible during the November Council

meeting As with the Ordinary Council meeting videos

from this session were also made available to those

who were unable to attend

OUR GOVERNANCE STRUCTURE

PLAYS AN INTEGRAL ROLE IN

HOW IFAC CREATES VALUE FOR

STAKEHOLDERS SPECIFICALLY THE

COUNCIL AND BOARD ENSURE THAT

IFAC OPERATES EFFECTIVELY AND

MEETS STRATEGIC OBJECTIVES AS

MEASURED BY ACHIEVEMENT OF OUR

KEY PERFORMANCE INDICATORS (KPIS)

AND THROUGH OVERSIGHT OF OUR

RISK MANAGEMENT PROCESS

OUR GOVERNANCE

IFAC STRATEGIC PLAN


BOARD

The Board works toward IFACrsquos mission by governing and overseeing its operations It is composed of the

President and not more than 22 additional members including the Deputy President A guiding principle for

Board membership is ensuring diverse representation on the Board including diversity in gender geography and

professional backgrounds The Board also conducts outreach on behalf of IFAC and engaged with more than 30

member organizations and Network Partners in over 20 jurisdictions in 2020

Board Effectiveness

The Board has an extensive self-assessment and

feedback process It assesses its performance and looks

for opportunities for improvement by surveying its

members following each meeting

Important value-creation activities to enhance Board

efficiency and effectiveness in 2020 included

bull Amending our Bylaws to permit virtual Board meetings during COVID-19 and pivoting to a virtual environment to allow the Board to continue to operate efficiently and effectively

bull Enhancing and expanding the use of a secure online Board portal

bull Continuing to improve the format of the Board agenda and materials

bull Adapting the orientation program for new Board members for the virtual environment

Board Subcommittees and Advisory Groups

The Board is assisted by several subcommittees These

include the Audit Committee Governance Committee

Human Resources and Compensation Committee

Membership Committee and Planning and Finance

Committee During 2020 Board members also

participated in the Public Policy and Regulation Advisory

Group and Technology Advisory Group

NOMINATING COMMITTEE

The IFAC Nominating Committee makes recommendations

to the Board the Council and Public Interest Oversight

Board (PIOB) regarding the composition of the IFAC Board

and its advisory groups as well as the three standard-

setting boards The Nominating Committee strives

to find the best fit for each vacancy while taking into

consideration professional background technical skills

and contributions to the profession as well as gender

geography and professional balance In 2020 the

Nominating Committee recruited 30 new volunteers and

recommended 19 volunteer reappointments across IFAC

groups and the standard-setting boards In total IFAC had

201 volunteers on various advisory groups who devoted

more than 36000 hours of their time to the profession

while the standard-setting boards had 256 volunteers

who devoted more than 61000 hours of their time

As a result of the Monitoring Group discussion

regarding the oversight arrangements for the IAASB and

IESBA 2021 will be the last year the IFAC Nominating

Committee will make recommendations for the IAASB

and IESBA For appointments that commence in January

2023 the nominations process will be run by a new PIOB

Nominations Committee


Key Performance Indicators (KPIs)

To ensure that our work is appropriately aligned with

our strategic objectives and to ensure accountability

for achieving our goals IFAC leverages a robust KPI

framework and process that is overseen by the Board

Each year management undertakes an assessment

of its annual KPIs which are then discussed with

and approved by the Board Progress against KPIs

is assessed quarterly

Risk Management Process

IFAC operates in a complex and rapidly changing

global environment To accomplish our mission IFAC

pursues opportunities and provides services that may

pose external or internal risk Accordingly our policy

is to apply an enterprise risk management framework

with clear roles and responsibilities in the identification

and management of risk and to ensure that effective

management of risk is a core competency

Risk management is an integral part of our strategic

planning process Management identifies and assesses

the risks that may cause IFAC not to achieve its

mission and strategic objectives and addresses those

risks as part of developing and achieving strategic

actions and specific KPI targets that are linked to those

actions Successful delivery of the strategic actions

and performance against KPIs serves to mitigate the

identified risks

Management in consultation with the Board identified

the following top risks

bull Loss of stakeholder confidence (eg regulators and other market constituents) in global standard setting and failure to have standards adopted and implemented

bull Change in IFACrsquos role in supporting standard setting for audit and ethics

bull Failure to identify prioritize or render services to meet competing demands of member organizations and other stakeholders and stakeholders become dissatisfied with the comparative advantages of IFAC

bull Failure to be proactive and relevant as the voice for the global profession

bull Insufficient funding for financial sustainability

bull Loss of intellectual capacity through inability to attract and retain a diverse and highly qualified talent base

bull Loss of intellectual capacity through inability to attract and retain a diverse and highly qualified volunteer base

IFACBase

compensationIncentive

CompensationRetirement

CompensationNontaxable

benefitsTotal

Kevin Dancey 641858 275000 23925 34516 975299

Russell Guthrie 501242 85000 23925 34904 645071

Standards Development

Base compensation

Incentive Compensation

Retirement Compensation

Nontaxable benefits

Total

James Gunn 460810 76500 23925 49176 610411

Keean Siong 317242 54900 23925 48903 444970

HUMAN RESOURCES AND COMPENSATION COMMITTEE

The Human Resources amp Compensation Committee provides oversight of and guidance on effective human

resources management on behalf of the IFAC Board

IFAC Executive Compensation Paid in 2020

Standard-Setting Board Executive Compensation Paid in 2020


Acting as the global voice for the profession is both

an enormous privilege and responsibility for IFAC In

2020 we continued to evolve IFACrsquos voice strategically

identifying those areas where we can leverage it to

greatest effect helping to ensure a vibrant profession

that acts in the public interest

We often collaborate with professional accountancy

organizations (PAOs) Forum of Firms and other

stakeholders and seek to leverage our global position

to address critical issues from across the accountancy

profession with influential thought leadership and

research on issues that sit at the intersection of the

profession with broader trends in business and society

Our work supports and complements that of our

member organizations

All of this work becomes the basis for discussion

with and among the profession and or stakeholders

with the goal of raising awareness of the value that

professional accountants create within organizations

financial markets and economies

Much of our work in 2020 addressed the challenges

posed by COVID-19 with a focus on helping the

profession maintain its duties and responsibilities as

seamlessly as possible In the early months of 2020

IFAC quickly developed the COVID Resources web

page on the Knowledge Gateway bringing together

practical information and insights for the profession

on a broad range of topicsmdasheverything from COVID-

specific financial reporting and assurance issues to

pivoting quickly and effectively to a virtual environment

to taking care of mental health and well-being We

also created a Knowledge Gateway web page for

PAOs willing to provide online continuing professional

development to other PAOs without that capacity Both

resources were heavily used

We published our Achieving High-Quality Audits

point of view and supported that with a series of audit

quality webinars that covered planning execution and

auditor reporting under COVID where the average

attendance exceeded 2000 people per webinar

We also focused on the importance of integrity

and trust Our point of view Maintaining Trust amp Confidence During a Crisis offered an ecosystem

wide view of the cooperation necessary among

companies regulators standard setters and the

profession itself to ensure a successful way through

the COVID crisis

SPEAKING OUT AND ENGAGING

AS THE VOICE FOR THE GLOBAL

PROFESSION

STRATEGIC OBJECTIVE

SIX RECOMMENDATIONS FOR AUDIT COMMITTEESOPERATING IN THE ldquoNEW NORMALrdquo

SMALL BUSINESS CONTINUITY CHECKLISTHOW TO SURVIVE AND THRIVE POST COVID-19


Likewise we developed a statement Public Interest Responsibilities Must Remain Paramount in an Age of COVID-19 as a direct call to action to

professional accountants around the world reiterating

the importance of their individual and collective

duties during the pandemic IFAC also continued

our commitment to the fight against financial crime

including money laundering and corruption building

off of the point of view Fighting Corruption and Money Laundering with an education series on anti-money laundering and a report on beneficial ownership transparency

Midway through the year we issued our Moving Forward Together G20 Call to Action which is

underpinned by four pillars that serve as the framework

for our global voice The themes therein focused on

Resisting Regulatory Fragmentation Recommitting

to Global Collaboration Focusing on Public Sector

Transparency and Integrity and Accelerating

Sustainability and Inclusiveness Advancing sustainable

business practices and reporting is a priority focus of

IFAC and the profession going forward as is detailed in

the Sustainability case study

OVERALL PERFORMANCE

Our member organization and the Forum of Firms

provide feedback via our annual stakeholder survey

against which we measure our success as the voice of

the global profession In 2020 IFAC earned scores of

bull 844 for enhancing IFACrsquos role as the global voice an increase from 793 in 2019

bull 869 for speaking out as the global voice and sharing thought leadership and guidance which

was rated for the first time in 2020

Other ways in which IFAC met or exceeded our key

performance indicators (KPIs) related to serving as the

voice of the global profession included

bull Delivering on all the elements of IFACrsquos 2020 Communications Plan which includes such metrics as increased positive media coverage deploying campaigns to drive digital traffic performance against web benchmarks enhanced social media presence and integrated communications support for thought leadership

bull Identifying and addressing critical trends and issues relevant to the accountancy profession and developing content to help inform and shape international dialogues

APPROACHES TO BENEFICIAL OWNERSHIP TRANSPARENCY The Global Framework and Views from the Accountancy Profession

ANTI-MONEY LAUNDERING THE BASICSInstallment 1 Introduction to Anti-Money Laundering for Professional Accountants

WHAT IS MONEY LAUNDERING

Money laundering is the process that turns dirty money into funds that appear lawful and can therefore be spent as if they were from legal sources Money laundering legitimizes the proceeds of crime and allows drug gangs human traffickers and other criminals to expand and benefit from their operations It is estimated that the potential annual scale of money laundering may exceed $1 trillion USD globally

United Nations Office on Drugs and Crime

What is this guide

This series is meant to help

professional accountants enhance

their understanding of how money

laundering works the risks they face

and what they can do to mitigate

these risks and make a positive

contribution to the public interest

It is meant to be accessible and easy-

to-use As a result it cannot cover

every issue or local requirement

Instead it addresses key issues for

professional accountants

What is Money-Laundering risk

Money laundering presents professional accountants with three

key risks Accountants may

bull Be used to launder money (eg by holding criminal proceeds

in a bank account or taking a role in an arrangement that

disguises the beneficial ownership of criminal proceeds)

bull Be used to facilitate money laundering by another person

(eg by creating a corporate vehicle to be used for money

laundering or by introducing a money launderer to another

professional adviser)

bull Suffer consequential legal regulatory or reputational damage

because a client (or one or their associates) is involved in money

laundering having failed to spot the red flags and report it

Why should accountants care

The fight against money laundering is not just a compliance exercise

Economic crime including money laundering affects more citizens more

often than any other security threat Money laundering corrodes wider

society whether from illicit investments in high-value property drug-

related violence in disadvantaged neighborhoods or the trauma caused

by human trafficking and modern slavery The criminals responsible

exploit some of the most vulnerable in our communities and bring illegal

drugs and violence to our streets damaging the fabric of society

As a public interest profession we must play our part to keep our

societies safe As gatekeepers to the financial system professional

accountants are the first line of defense to prevent these illicit funds

finding their way into the economy

IFAC CALLS ON THE G20 TO STAY FOCUSED ON THE FUTURE IN

THE GLOBAL COVID-19 RESPONSEThe challenges raised by COVID-19 are unprecedented

in the modern era so too have been the responses from G20 governments The short-term focus on the pandemic has been rightfully all encompassing At the same time we must not allow the immediate needs of the recovery to

derail progress on other urgent global priorities We are at an inflection point staying focused on the future while responding to COVID-19 is critical to strong

sustainable economies and realizing the opportunities of the 21st century for all

ACCELERATE SUSTAINABILITY ACCELERATE SUSTAINABILITY AND INCLUSIVENESSAND INCLUSIVENESSThe COVID crisis is a wake-up call to accelerate the transition to a more sustainable and inclusive global economy and achieve the United Nationsrsquo SDGs Business and Government both have a role to play and must rise to the occasion

For Governments this means for example an economy with opportunity embracing diversity and access to education for all and an economy that sustains our environment delivering on crucial commitments

For business this means an integrated multi-stakeholder approach to the way they operate and govern themselves with a focus on long-term value creation by incorporating integrated reporting principles

FOCUS ON PUBLIC SECTOR FOCUS ON PUBLIC SECTOR TRANSPARENCY AND INTEGRITYTRANSPARENCY AND INTEGRITYThe COVID crisis has driven an enormous increase in public sector spending Now more than ever integrity and transparency in the public sector are central to the social contract between governments and citizens

IFAC calls on the G20 to step up its efforts to deliver on the G20 Anti-Corruption and Anti-Money Laundering Action Plans

Upholding integrity also takes a trusted global tax system and sound public financial

management It continues with credible public sector reporting that supports

transparency and long-term sustainable decision-making

IFAC urges the G20 to adopt accrual accounting at all

levels of government and International Public Sector Accounting Standards

RECOMMIT RECOMMIT TO GLOBAL TO GLOBAL

COLLABORATIONCOLLABORATIONThe line between local and

global problems continues to blur we are in this together

And the challenges we face are all interconnected Accordingly

global institutions for cooperation and crisis-managementmdashboth public

and private sectormdashare more important than ever These institutions must be agile the next

unprecedented crisis could be just round the corner

While crises affect us all their impacts are unequal Multilateralism in support of building back better for those most in need is the foundation for future global resilience and a pathway towards creating a fairer and more prosperous world for all

G20 leadership must commit to working together through global institutions to anticipate and mitigate the global problems of the 21st century

RESIST RESIST REGULATORY REGULATORY FRAGMENTATIONFRAGMENTATIONRegulatory fragmentation costs the global economy more than $780 billion a year and the cost is borne disproportionately by small- and medium-sized enterprises We simply cannot afford so much waste

IFAC calls for policymakers across the G20 to prioritize regulatory cooperation and harmonization so that all enterprises can thrive and to enhance mechanisms for continuous and systematic cross-border dialogue between national regulators to improve consistency in international regulations and standards

Regulations play a central role in connecting the economy to sustainability We urge all stakeholders to agree on a global framework to non-financial reporting incorporating integrated reporting principles

Copyright copy 2020 by the International Federation of Accountants (IFAC) All rights reserved

MOVING FORWARD TOGETHERG20 Call to Action 2020


A key challenge for mainstreaming sustainability

and improving accountability for sustainability in

the capital markets is the lack of global standards

The voluntary approach to measuring and reporting

sustainability information has been in place for a

long time but has not adequately delivered high

quality information that is needed to progress

sustainability Investor and company needs for

information on sustainability are not being met

IFAC has an important influencing

role on behalf of the accountancy

profession to help bring about a

global standard as a baseline for

sustainability information Building

on our Climate Action and

Enhancing Corporate Reporting

points of view in 2020 IFAC

launched a galvanizing initiative

for the profession a call to action

for the creation of an international

sustainability standards board to sit alongside the

International Accounting Standards Board under the

auspices of the IFRS Foundation

Recognizing the critical importance of establishing

global standards to achieve consistent comparable

reliable and assurable information IFAC engaged

and collaborated with many of the most significant

organizations whose work will pave the way for

global standardsmdashincluding the Climate Disclosure

Project Climate Disclosure Standards Board Global

Reporting Initiative the Value Reporting Foundation

(formerly the International Integrated Reporting

Council and Sustainability Accounting Standards

Board) and the World Economic Forum Over the

course of the year IFAC also weighed in on the

consultation of these and other entities to help drive

toward a global solution

Going into 2021 we developed a pragmatic

building blocks approach to help address the

information needs of global capital

market investors as well as meet

the needs of regional and national

jurisdictions IFAC has identified

important areas where professional

accountants will need to ldquocomplete

the ecosystemrdquo or in other words

turn sustainability standards into

high quality information and is

focusing on these areas in 2021

Likewise IFAC has engaged closely

with the International Organization of Securities

Commissions (IOSCO) in coordinating support for

the IFRS Foundation and understanding potential

investor protection considerations as sustainability-

related reporting becomes increasingly mainstream

We are encouraged by the progress that has been

made and look forward to the continuing role

IFAC and the profession will play in this important

evolution

CASE STUDY SUSTAINABILITY

EVEN AS THE PANDEMIC UPENDED

THE WAY OUR WORLD OPERATES

AND HAS BEEN A SETBACK FOR THE

UN SUSTAINABLE DEVELOPMENT

GOALS GLOBAL INSTITUTIONS

AND ORGANIZATIONS AROUND

THE WORLD WERE PUTTING

SUSTAINABILITY AT THE HEART

OF THEIR RECOVERY PLANS


Small- and medium-sized practices (SMPs) and

professional accountants in business and the public

sector (PAIBs) are critical to the success of business

and economies around the world The extraordinary

circumstances of 2020 led to SMPs and PAIBs stepping

up to lead and support organizations through uncertain

times dealing with both the short-term crisis and the

longer-term road to stability and recovery

The crisis has greatly accelerated various trends from

heightened focus on sustainability and value creation to

the digital transformation of business and public sector

organizations as the means of surviving and thriving in

a virtual world affecting both operations and service

delivery This environment of prolonged and extreme

uncertainty is an opportunity to rethink what future-

ready means for SMPs and PAIBs

For SMPs there is a significant opportunity for practice

transformation focused on how SMPs can embrace

change leverage technology manage talent and

have a renewed emphasis on providing relevant and

value-added services IFACrsquos Practice Transformation Action Plan - A Roadmap to the Future and

webinar series How SMPs Can Evolve in the COVID-19 Environment highlighted the key

areas and initiatives

for SMPs as trusted

advisers to small- and

medium-sized entities

For PAIBs becoming future-ready requires enabling

long-term value creation and sustainability as effective

business partners The Rethinking Value Creation

campaign provides insights and case studies of

companies and their CFOs and finance functions

playing a central role in accounting for value creation

This pivot to a chief value officer mindset will lead to

both stronger more effective finance and accounting

professionals that sit at the heart of organizations and

to the mainstreaming of integrated and sustainability

reporting which is needed by investors and society

To facilitate a future-oriented profession and ensure the

readiness of current and emerging professionals IFAC

embraces accountancy education as a strategic priority

In furtherance of this IFAC focuses on the evolution of

the IFAC approach to accountancy education including

the multi-stakeholder engagement framework and

the new Accountancy Education E-Tool The e-tool

helps accountancy education stakeholders navigate

and access key principles of the International Education

Standards and related implementation support

STRATEGIC OBJECTIVE

PRACTICE TRANSFORMATION ACTION PLAN

A ROADMAP TO THE FUTURE

A VISION FOR THE CFO amp FINANCE FUNCTION

THE CFO AND FINANCE FUNCTION ROLE IN VALUE CREATION


UNDERSTANDING VALUE CREATION

LEADING AND DEVELOPING A

FUTURE-READY PROFESSION


Another important initiative was the Accountancy Education Summit 2020 The Anticipatory Accountant Global Trends Transforming Learning amp Development The four-day summitrsquos

multi-disciplinary panels explored three key forces likely to transform the accountancy profession

technology environment and society Coinciding with International Education Week summit

opened with world-renowned futurist Daniel Burrus and special guest Tom Hood featured

exceptional speakers including Noah Baalesanvu Safoora Biglari Paul Druckman and

Mervyn Kingmdashand drew approximately 1500 attendees

Future-ready focus is not only important for individual accountants but also for the PAOs that

support them Given the importance of digital transformation to PAOsrsquo future readiness long-term

sustainability and resilience in 2020 IFAC partnered with cloudThing to create the PAO Digital Readiness Assessment Tool and Resource Series which is detailed below (see Case Study IFACrsquos PAO Digitalization Initiative)

OVERALL PERFORMANCE

Our efforts to prepare a future-ready accountancy profession

resulted in affirmative reviews from member organizations and

Forum of Firms in our annual stakeholder survey where IFAC

earned the following scores

bull Successfully implementing a new approach to advancing accountancy education at the global level ndash 818 for accountancy education and professional development up from 754 in 2019

bull Delivering relevant and useful guidance and thought leadership especially for small- and medium-sized practices and professional accountants in business - 804 for SMP up from 784 in 2019 and 817 for PAIB up from 779 in 2019

Other ways in which IFAC met or exceeded our key performance

indicators (KPIs) related to leading and developing a future-ready

profession included

bull Effectively using the annual UK Department for International Development (now the Foreign Commonwealth amp Development Office) grant allocation for PAO capacity building IFAC earned an ldquoA+rdquo rating in the final 2020 report from UK Aid thereby maintaining consistency of ldquoArdquo or ldquoA+rdquo ratings since 2015

bull Achieving overall IFAC membership growth with the addition of two new members and two new associates in 2020

bull Effectively nurturing relationships with regional organizations and other key stakeholders


IFAC leveraged its role as a convening force to

develop the PAO Digital Readiness Assessment Tool and Resource Series not only to support

the short-term urgent need of service provision

throughout the COVID-19 pandemic but also with

the longer-term objective of preparing PAOs for the

digital future

The Assessment and Resource Series supports

digital transformation as a crucial component of

PAO sustainability and resiliency

With a comprehensive focus the

Assessment and Resource Series

facilitates organizational leadership

support and buy-in builds workforce

capabilities empowers people to

work in new ways and increases

effective communication throughout

the transformation By emphasizing

the need for mindset as well as

organizational culture changes these

resources require PAOs to envision

and strategize their future first and use that plan

to drive technology decisions not the other way

around

The PAO Digital Readiness Tool is a web-based

self-assessment tool that helps PAOs gauge where

they are on their specific and unique digitalization

journey using 11 pillars and 120 aspects of digital

transformation In 2020 IFAC member organizations

were provided access to the Tool Over 70+

members completed the assessment and each

participating PAO received a tailored and targeted

report containing their results Our members are

now reflecting and considering how they may begin

or progress their digitalization

The second component the PAO Digital Readiness

Resource Series aggregates and organizes various

videos articles and other resources to support PAOs

throughout the entire processmdashfrom self-assessment

to practical application and

integration of technology in their

operations and work programs

An essential element of IFACrsquos

approach has been its work with

member organizations to raise

awareness and understanding

that this transformation requires

continuous improvementmdashit is not

a one-time effort Therefore IFAC

also continues to consider where

and how it can further support PAOs to strengthen

their digitalization and resiliency In 2021 IFAC

expects to conduct workshops to help PAOs

understand interpret and prioritize their results

develop a PAO industry report based on anonymized

results from the self-assessment partner with other

organizations such as the World Bank to expand

the impact of this important initiative and advance

digital inclusion and equity worldwide and prepare

the second version of the PAO Digital Readiness Tool

CASE STUDY PAO DIGITALIZATION INITIATIVE

THE COVID-19 PANDEMIC AND

RESULTING VIRTUAL WORLD

ACCELERATED THE NEED FOR PAOS

TO USE DIGITAL TECHNOLOGIES

TO CREATE NEW OR MODIFY

EXISTING BUSINESS PROCESSES

INCLUDING MEMBER AND STUDENT

EXPERIENCES


High-quality international standards applied by

professional accountants are foundational to protecting

the public interest and an essential pillar of the global

financial architecture

Over the course of the year IFAC continued to work

closely with the Monitoring Group as part of a multi-

stakeholder consultation process that resulted in

the finalization of the Monitoring Grouprsquos paper

Strengthening the International Audit and Ethics Standard-Setting System which was released in July

(see Case Study IFACrsquos Work with the Monitoring Group)

IFAC provides financial human capital communications

IT and operational support to the International Auditing and Assurance Standards Board (IAASB) and the International Ethics Standards Board for Accountants (IESBA) both of which are overseen by

the Public Interest Oversight Board (PIOB) and to the

International Public Sector Accounting Standards Board (IPSASB) which is overseen by the Public

Interest Committee

IFAC also provided extensive feedback and input to the

IAASB and IESBA on behalf of the profession and the

SMP and PAIB constituencies This helped inform the

direction and output of various projects and involved

formal responses to consultations and exposure drafts

comment letters submitted ahead of the respective

quarterly board meetings and multiple engagements

through virtual meetings

Our specific work to increase adoption and

implementation of international standards takes

many formsmdashproducing and sharing implementation

guidance and resources supporting our member

organizationsrsquo adoption amp implementation advocacy

efforts developing the professionrsquos capacity to

implement standards and using our convening power

to bring together global experts to provide best practice

and learnings To help illustrate the state of adoption

of various standards globally IFAC maintains a digital

a Global Impact Map which was enhanced this year

with new interactivity to provide user-friend snapshots

by standard

CONTRIBUTING TO AND PROMOTING

THE DEVELOPMENT ADOPTION AND

IMPLEMENTATION OF HIGH-QUALITY

INTERNATIONAL STANDARDS

STRATEGIC OBJECTIVE


IAASB

IFAC launched an important webinar series on

practical audit quality consideration in the pandemic

environment The webinarsmdashon planning execution

and auditor reportingmdashwere a collaboration with the

Forum of Firms and featured speakers from across the

IFAC community including the Forum of Firms IFAC

advisory groups the IAASB and other experts Because

of the urgency of the issue the webinars attracted

a record number of participantsmdashmore than 14000

registrants and more than 6000 unique live viewersmdash

generated a great deal of support and significantly

contributed to the Forum of Firms approving within

its 2021 work plan an increased emphasis to increase

collaboration with IFAC on audit quality initiatives The

webinars were also each followed-up with easy-to-read

key takeaways and summaries

Two dedicated Knowledge Gateway web pages were

developed covering COVID-19 audit and financial reporting considerations which highlighted the

key challenges implications and various resources

available and garnered more than 70000 page

views In addition updates were made to Agreed-Upon Procedures (AUP) Engagements A Growth and Value Opportunity which describes

AUP engagements and when they are appropriate

and identifies key client benefits as well as the

brochure Choosing the Right Service Comparing Audit Review Compilation and Agreed-Upon Procedures Services which explains and differentiates

the range of audit review compilation and agreed-

upon procedures services that practitioners can provide

in accordance with relevant international standards

IESBA

IFAC managed the development of the COVID-19 Ethics and Independence Considerations web

page and helped coordinate IESBArsquos collaboration

with national standard setters which resulted in

the development of six pandemic-related guidance

publications

Strong communications support to enable the

broadest reach and impact for the IESBArsquos work plan

and initiatives was a key support priority in 2020 This

included significant changes to the International Code of Ethics for Professional Accountants (including International Independence Standards)

and driving toward completing Exploring the IESBA Code a 12-part series that examines application

of the Code in real-world situations IFAC also

developed messaging and awareness campaigns

for two final pronouncements Role and Mindset

Expected of Professional Accountants and Alignment

of Part 4B of the Code to ISAE 3000 (Revised) (which

aligns the Code to the IAASBrsquos updated assurance

engagements standard) as well as for exposure drafts for

non-assurance services fees and engagement quality

reviewers and the IESBArsquos phase one technology report

Production of the IESBArsquos five-year review Ethics and

Trust - Breaking New Ground was also a key deliverable

Finally IFAC also played a lead role in supporting IESBArsquos

LinkedIn presence as a strategic communications

platform which has grown to more than 2000

followers to drive greater awareness of the IESBA

and its work


IPSASB

To help governments and other interested stakeholders understand the impact of government interventions

related to COVID-19 IFAC and the Zurich University of Applied Sciences in partnership with the IPSASB created

the COVID-19 Intervention Assessment Tool The Tool provides an immediate way of evaluating the economic

impacts of current and planned policy initiatives which can be used independently of any given jurisdictionrsquos public

sector accounting basis The Tool provides an immediate way of evaluating the economic impacts of current and

planned policy initiatives which can be used independently of any given jurisdictionrsquos public sector accounting basis

Continuing the conversation regarding the pandemic and its impact on the public sector IFAC the World Bank and

IPSASB hosted a webinar The Sustainability of Public Finance Held in Arabic English and French and with more

than 800 attendees the webinar explored the importance of accrual accounting to support strong public financial

management around the world-during and after the pandemic Encouragingly more than 86 of post-webinar

survey respondents said they were more likely to promote the International Public Sector Accounting Standards

(IPSAS) implementation in their country following the webinar

IFAC also developed a package of user-friendly flexible training materials to support IPSAS implementation in

coordination with IPSASB Train the Trainer Introduction to IPSAS helps public sector entities currently using

a cash basis of accounting transition to accrual IPSAS These materials have been well received and are being

translated into multiple languages by IFAC member organizations

OVERALL PERFORMANCE

IFAC met or exceeded our key performance indicators

(KPIs) related to international standards by

bull Our efforts to support the standard-setting boards and the standards they develop resulted in affirmative reviews from the board chairs on IFACrsquos support and collaboration with their teams For 2020 IFAC received an overall rating of 88 up from 87 in 2019

bull Delivering necessary support and resources to the standard-setting boards allowing them to implement improvements to strengthen their capacity to serve the public interest

bull Effectively contributing to the adoption and implementation of international standards

bull Continuing efforts with the Monitoring Group to reach a conclusion to its Review process and attaining the IFAC Boardrsquos support for managementrsquos actions in relation to the Monitoring Group Review process

bull Achieving Monitoring Group and Public Interest Oversight Board approval for the IAASB and IESBA selection process and operation for 2021


To remain credible and engender

trust the standards need to

continue to be set following a

transparent multi-stakeholder

approach that ensures the public

interest remains the focus

Since 2015 the oversight

arrangements for the IAASB and

IESBA have been under review

by the Monitoring Group with

productive extensive discussions

among all stakeholders leading up to the issuance

of the July 2020 Monitoring Group paper The

paper set out a number of high-level principles

and recommendations including recognition of

a significant role for IFAC and the accountancy

profession Many details still need to be

determined as the implementation plan is finalized

such as a funding model and reconciling budgeting

with costing

Outstanding issues are slated

for resolution in 2021 at which

point the three-year transition and

implementation plan will begin

in earnest to ensure a smooth

changeover with no disruption

to the current standard-setting

process

Throughout the review process

and into the current transition

period the relationships IFAC

built across the Monitoring Group and the Public

Interest Oversight Board over the last several years

were crucial These relationships helped ensure

the process was constructive and collaborative

Collaborative relationships between the profession

and the regulatory community are essential to

achieve a multi-stakeholder approach that results

in a sustainable independent standard-setting

structure that has appropriate checks and balances

CASE STUDY IFACrsquoS WORK WITH THE MONITORING GROUP

GIVEN THE IMPORTANCE OF THE

INTERNATIONAL STANDARDS TO THE

GLOBAL FINANCIAL ARCHITECTURE

THE GOVERNANCE AND OVERSIGHT

ARRANGEMENTS FOR THE

IAASB AND IESBA DRAW GLOBAL

ATTENTION

THE MONITORING GROUP

STRENGTHENING THE

INTERNATIONAL AUDIT AND

ETHICS STANDARD-SETTING

SYSTEM

July 2020


OVERALL PERFORMANCE

IFAC met or exceeded all our KPIs related to our

structure resources and processes in 2020 as follows

bull Proposed amendments to IFACrsquos Bylaws were approved by IFACrsquos Board and Council and proposed amendments to the Terms of Reference for the Small and Medium Practices PAO Development and Professional Accountants in Business Advisory Groups were approved by IFACrsquos Board

bull IFACrsquos Strategic Plan (for 2021 and beyond) was was approved by IFACrsquos Board and Council

bull Effectively managed IFACrsquos budget and in coordination with the Managing Director Professional Standards ensured that the independent standard-setting boards were within budget

bull A significant increase in instances where technology was leveraged to achieve cost efficiencies or extend the work program at a lower cost

bull Satisfactorily supported the IFAC Board

bull Adequately managed and mitigated organizational risks as identified in IFACrsquos risk map and dashboard

bull Assessed the effectiveness of the Management Advisory Team

IFACrsquoS INTERNAL SUPPORT

STRUCTURES AND RESOURCES HAVE

PROVEN DURABLE AND FLEXIBLE

OUR STAFF PERFORMANCE AND

RETENTION RATES REFLECT THE

HARD WORK PUT IN ACROSS THE

ENTIRE ORGANIZATION TO SUPPORT

IFACrsquoS MISSION

OUR SUPPORT STRUCTURES AND RESOURCES

of 30

November 2020

Exposure Draft October 2011 Comments due February 29 2012

Bylaws of the International Federation of Accountants

IFAC STRATEGIC PLAN

November 2019

Constitution of the International Federation of Accountants

November 2019


SELECT ACHIEVEMENTS

Human Capital

bull Upward trend in 2020 Employee Engagement Survey

bull Successful retention of 96 of staff with a performance rating of 3+ who are comprised of

ndash 38 of Core Performers with ratings between 30-39

ndash 58 of High Performers with ratings between 40-50

bull Hired and remotely onboarded 10 staff representing 12 of our average headcount

bull Pivoted to 100 remote work mid-March in response to the COVID-19 pandemic including implementing new resources and programs to support our employees and their families while working remotely

bull To reflect that we will be in a changed world post-COVID-19 we created a principles-based framework that evolves our staffing model post-pandemic to provide flexibility for current staff and future hires

Financial Capital

bull IFAC revenues and expenses were 05 over budget and 7 under budget respectively

bull Standard-setting boardsrsquo net expenses were 21 under budget

Technology

bull Evolved the IT Department from ldquohands-offrdquo to ldquohands-onrdquo model by

ndash Building an internal IT Team and hiring a chief technology officer and an IT project manager

ndash Transitioning to a new managed service provider under the direct supervision of the CTO and

ndash Developing a three-year overarching IT strategic plan

bull Implemented new firewalls and VPN (virtual private network) services to provide additional security and support for remote working

bull Instituted a Virtual Meeting Support Program and dedicated service to support additional demand for webinars and virtual meetings

Intellectual Capital

bull Signed 232 reproduction and translation agreements up from 186 in 2019

bull Facilitated 92 total translations in 28 languages for IFAC and standard-setting materials up from 91 total translations in 26 languages in 2019

bull Established a nimble process to enable the timely translations of COVID-19 related resources leading to over 40 translations in 15 languages


FINANCIAL HIGHLIGHTS

IFAC maintains a control environment designed to ensure

that the values of integrity transparency and expertise

are inherent in every aspect of the organization This

environment provides for sound stewardship of the

resources provided by member organizations the Forum

of Firms and other funders and for a clear decision-

making and accountability framework

These financial highlights should be read with the 2020 Financial Statements which include the independent

auditorrsquos report

Financial Performance

bull IFAC is reporting a surplus of $3846 million for 2020 (2019 $1168 million surplus) IFAC had an operating surplus of $3598 million and net unrealized foreign exchange gains on foreign currency bank accounts of $247 thousand

bull Total revenue decreased by 187 (2019 decreased by 16) to $346 million

ndash Membership dues decreased by 232 over 2019 as a result of the historical foreign exchange impact on the dues calculation and approved dues discounts

ndash Net contributions received from the Forum of Firms decreased by 329 due to a decrease in expenses incurred by the Transnational Auditors Committee which are reimbursed by the Forum The Forumrsquos 2020 financial contribution to IFAC remained comparable to 2019

ndash External funding decreased by 1236 mainly due to reduced travel and meeting costs and the move to virtual meetings

ndash Publication sales and royalties and license fees increased by 936 due to new annual licenses amp increased royalty agreements

ndash Other revenue increased by 386 due to the gain on pension settlement and foreign exchange gains

APPENDICESRevenue 2020 2019

Membership Dues $19745100 $20213700

Forum of Firms 12025437 12434676

External Funding 1850371 2111263

Publications Royalties and Licensing 403277 368757

Other Revenues 561052 115362

Total Revenue $34585237 $35243758

Membership Dues

Forum of Firms

External Funding

Publications Royalties and Licensing

Other Revenues

1

57

53

35

2020 revenue by percentage


1

Expenses 2020 2019

Employee Costs $19662568 $18928688

Travel and Meeting Costs 775517 4742091

Occupancy and Maintenance 1348279 1390633

Funding for the Public Interest Oversight Board 1289230 1253256

Depreciation and Amortization 390833 472463

IT Support 766823 707914

Other Expenses 6506221 6581186

Total Expenses $30739471 $34076231

Employee Costs

Travel and Meeting Costs

Occupancy and Maintenance

Funding for the Public Interest Oversight Board

Depreciation and Amortization

IT Support

Other Expenses

2

64

21

44

3

Total expenses decreased by 98 (2019 decreased by

56 ) to $307 million

bull Employee costs increased by 39 due to increases in remuneration and new hires offset by unplanned staff vacancies

bull Travel and meeting costs decreased in 2020 by 837 mainly due to savings by moving to virtual meetings

bull Occupancy and maintenance decreased by 3 due to lower operating charges

bull IT support comprising maintenance and licenses increased by 832 due to new IT licenses and initiatives

bull Other expenses decreased by 114 primarily due to reduced recruitment and relocation costs and lower communications and publicity costs offset by an increase in consultant use

APPENDICES

2019 expenses by percentage


APPENDICES

Financial Position

bull Total assets increased by 1678 (2019 decreased 11) and total liabilities decreased by 6 (2019 decrease 49) thereby increasing total net assets by 3428

bull IFAC entered into an assumption of liability agreement effective December 31 2020 with the American Institute of Certified Public Accountants (AICPA) one of IFACrsquos member organizations Under this agreement the AICPA has assumed IFACrsquos obligations related to the defined benefit plan in exchange for a note payable of $3332516 The note is payable without interest in five annual installments of $666503 commencing in 2021 For financial statement purposes the note has been discounted using IFACrsquos incremental borrowing rate of 334 per annum

bull The equity position as at December 31 2020 was $142 million (2019 $105 million)

Expense Allocation to Activities 2020 2019

Standards Development $17751742 $21353936

Global Representation amp Advocacy 2966199 1766456

Global Accountancy Profession Support 3148531 4046421

Global Accountancy Profession Development 4157100 3709901

Quality amp Membership 2715899 3199517

Total Expenses $30739471 $34076231


Global Representation amp Advocacy

Global Accountancy Profession Support

Global Accountancy Profession Development

Quality amp Membership

58

9

14

10

10

Net AssetsEquity 2020 2019

At beginning of year $10542491 $10339453

Surplus(deficit) for the year 3845766 1167527

Gain (Loss) on re-measurement of defined benefit obligation (231453) (964489)

At end of year $14156804 $10542491

2020 activity allocation expenses by percentage


APPENDICES

OUR GLOBAL NETWORK

MEMBERS (As at December 31 2020)

Albania

bull Institute of Authorized Chartered Auditors of Albania

bull Instituti i Kontabilisteumlve teuml Miratuar

Argentina

bull Federacioacuten Argentina de Consejos Profesionales de Ciencias Econoacutemicas

Australia

bull Chartered Accountants Australia and New Zealand

bull CPA Australia

bull Institute of Public Accountants

Austria

bull Institut Oumlsterreichischer Wirtschaftspruumlfer

bull Kammer der Steuerberater und Wirtschaftspruumlfer (formerly Kammer der Wirtschaftstreuhaumlnder)

bull Azerbaijan

bull Chamber of Auditors of Azerbaijan Republic

Bahamas

bull Bahamas Institute of Chartered Accountants

Bangladesh

bull Institute of Chartered Accountants of Bangladesh

bull Institute of Cost and Management Accountants of Bangladesh

Barbados

bull Institute of Chartered Accountants of Barbados

Belgium

bull Institute for Tax Advisors and Accountants (Formerly Institut des Experts-comptables et des Conseils FiscauxmdashInstituut Van de Accountants en de Belastingconsulenten)

bull Instituut van de BedrijfsrevisorenmdashInstitut des Reacuteviseurs drsquoEntreprises

Bolivia

bull Colegio de Auditores de Bolivia

Bosnia and Herzegovina

bull Association of Accountants and Auditors of Republic of Srpska

bull Union of Accountants Auditors and Financial Workers of Federation of Bosnia and Herzegovina

Botswana

bull Botswana Institute of Chartered Accountants

Brazil

bull Conselho Federal de Contabilidade

bull Instituto dos Auditores Independentes do Brasil

Bulgaria

bull Institute of Certified Public Accountants of Bulgaria

Cameroon

bull Institute of Chartered Accountants of Cameroon

Canada

bull Chartered Professional Accountants Canada

Cayman Islands

bull Cayman Islands Institute of Professional Accountants

Chile

bull Colegio de Contadores de Chile

China

bull Chinese Institute of Certified Public Accountants

Chinese Taiwan

bull Federation of CPA Associations of Chinese Taiwan

Colombia

bull Instituto Nacional de Contadores Puacuteblicos de Colombia

Costa Rica

bull Colegio de Contadores Puacuteblicos de Costa Rica

Cyprus

bull Institute of Certified Public Accountants of Cyprus

Czech Republic

bull Chamber of Auditors of the Czech Republic

Denmark

bull FSRmdashdanske revisorer

Dominican Republic

bull Instituto de Contadores Puacuteblicos Autorizados de la Repuacuteblica Dominicana

Egypt

bull Egyptian Society of Accountants amp Auditors

El Salvador

bull Instituto Salvadorentildeo de Contadores Puacuteblicos

Estonia

bull Estonian Auditorsrsquo Association

eSwatini

bull Swaziland Institute of Accountants


Fiji

bull Fiji Institute of Accountants

Finland

bull Suomen Tilintarkastajat ry

France

bull Compagnie Nationale des Commissaires aux Comptes

bull Conseil Supeacuterieur de lrsquoOrdre des Experts-Comptables

Georgia

bull Georgian Federation of Professional Accountants and Auditors

Germany

bull Institut der Wirtschaftspruumlfer

bull Wirtschaftspruumlferkammer

Ghana

bull Institute of Chartered Accountants (Ghana)

Greece

bull Institute of Certified Public Accountants of Greece

Guatemala

bull Instituto Guatemalteco de Contadores Puacuteblicos y Auditores

Guyana

bull Institute of Chartered Accountants of Guyana

Haiti

bull Ordre des Comptables Professionnels Agreacuteeacutes drsquoHaiumlti

Honduras

bull Colegio de Peritos Mercantiles y Contadores Puacuteblicos

Hong Kong Special Administrative Region of China

bull Hong Kong Institute of Certified Public Accountants

Hungary

bull Chamber of Hungarian Auditors

Iceland

bull Feacutelag Loumlggiltra Endurskodenda

India

bull Institute of Chartered Accountants of India

bull Institute of Cost Accountants of India

Indonesia

bull Ikatan Akuntan Indonesia

Iran Islamic Republic of

bull Iranian Association of Certified Public Accountants

bull Iranian Institute of Certified Accountants

Iraq

bull Iraqi Union of Accountants and Auditors

Ireland

bull Chartered Accountants Ireland

bull Institute of Certified Public Accountants in Ireland

Israel

bull Institute of Certified Public Accountants in Israel

Italy

bull Consiglio Nazionale dei Dottori Commercialisti e degli Esperti Contabili

Ivory Coast

bull Ordre des Experts-Comptables de Cocircte drsquoIvoire

Jamaica

bull Institute of Chartered Accountants of Jamaica

Japan

bull Japanese Institute of Certified Public Accountants

Jordan

bull International Arab Society of Certified Accountants

bull Jordanian Association of Certified Public Accountants

Kazakhstan

bull Chamber of Auditors of the Republic of Kazakhstan

Kenya

bull Institute of Certified Public Accountants of Kenya

Korea Republic of

bull Korean Institute of Certified Public Accountants

Kosovo

bull Society of Certified Accountants and Auditors of Kosovo

Kuwait

bull Kuwait Association of Accountants and Auditors

Latvia

bull Association of Accountants of the Republic of Latvia

bull Latvian Association of Certified Auditors

Lebanon

bull Lebanese Association of Certified Public Accountants

Lesotho

bull Lesotho Institute of Accountants

Liberia

bull Liberian Institute of Certified Public Accountants

APPENDICES


Lithuania

bull Lithuanian Chamber of Auditors

Luxembourg

bull Institut des Reacuteviseurs drsquoEntreprises

Madagascar

bull Ordre des Experts Comptables et Financiers de Madagascar

Malawi

bull Institute of Chartered Accountants in Malawi

Malaysia

bull Malaysian Institute of Accountants

bull Malaysian Institute of Certified Public Accountants

Malta

bull Malta Institute of Accountants

Mauritius

bull Mauritius Institute of Professional Accountants

Mexico

bull Instituto Mexicano de Contadores Puacuteblicos AC

Moldova Republic of

bull Association of Professional Accountants and Auditors of the Republic of Moldova

Mongolia

bull Mongolian Institute of Certified Public Accountants

Montenegro

bull Institute of Certified Accountants of Montenegro

Morocco

bull Ordre des Experts Comptables du Royaume du Maroc

Namibia

bull Institute of Chartered Accountants of Namibia

Nepal

bull Institute of Chartered Accountants of Nepal

Netherlands

bull Netherlands Association of Registered Controllers

bull Royal Nederlandse Beroepsorganisatie van Accountants

New Zealand

bull Chartered Accountants Australia and New Zealand (Formerly New Zealand Institute of Chartered Accountants)

Nicaragua

bull Colegio de Contadores Puacuteblicos de Nicaragua

Nigeria

bull Association of National Accountants of Nigeria

bull Institute of Chartered Accountants of Nigeria

North Macedonia

bull Institute of Certified Auditors of the Republic of Macedonia

Norway

bull Den norske Revisorforening

Pakistan

bull Institute of Chartered Accountants of Pakistan

bull Institute of Cost and Management Accountants of Pakistan

bull Pakistan Institute of Public Finance Accountants

Panama

bull Colegio de Contadores Puacuteblicos Autorizados de Panamaacute

Papua New Guinea

bull Certified Practising Accountants Papua New Guinea

Paraguay

bull Colegio de Contadores de Paraguay

Peru

bull Junta de Decanos de Colegios de Contadores Puacuteblicos del Peruacute

Philippines

bull Philippine Institute of Certified Public Accountants

Poland

bull Accountants Association in Poland

bull Polish Chamber of Statutory Auditors

Portugal

bull Ordem dos Contabilistas Certificados

bull Ordem dos Revisores Oficiais de Contas

Romania

bull Chamber of Financial Auditors of Romania

bull Corpul Expertilor Contabili si Contabililor Autorizati din Romania

Rwanda

bull Institute of Certified Public Accountants of Rwanda

Saudi Arabia

bull The Saudi Organization for Chartered and Professional Accountants (formerly Saudi

Organization for Certified Public Accountants)

APPENDICES

Admitted by the IFAC Council in November 2020


Senegal

bull Ordre National des Experts Comptables et Comptables Agreacuteeacutes du Seacuteneacutegal

Serbia Republic of

bull Serbian Association of Accountants and Auditors

Sierra Leone

bull Institute of Chartered Accountants of Sierra Leone

Singapore

bull Institute of Singapore Chartered Accountants

Slovakia

bull Slovenska Komora Auditorov

Slovenia

bull Slovenian Institute of Auditors

South Africa

bull South African Institute of Chartered Accountants

bull South African Institute of Professional Accountants

Spain

bull Instituto de Censores Jurados de Cuentas de Espantildea

Sri Lanka

bull Association of Accounting Technicians of Sri Lanka

bull Institute of Certified Management Accountants of Sri Lanka

bull Institute of Chartered Accountants of Sri Lanka

Sweden

bull FAR

Switzerland

bull EXPERTsuissemdashSwiss Expert Association for Audit Tax and Fiduciary

Tanzania United Republic of

bull National Board of Accountants and Auditors

Thailand

bull Federation of Accounting Professions

Trinidad and Tobago

bull Institute of Chartered Accountants of Trinidad and Tobago

Tunisia

bull Ordre des Experts Comptables de Tunisie

Turkey

bull Expert Accountantsrsquo Association of Turkey

bull Union of Chambers of Certified Public Accountants of Turkey

Uganda

bull Institute of Certified Public Accountants of Uganda

Ukraine

bull Ukrainian Federation of Professional Accountants and Auditors

United Kingdom

bull Association of Chartered Certified Accountants (ACCA)

bull Association of International Certified Professional AccountantsndashCIMA

bull Chartered Institute of Public Finance and Accountancy

bull Institute of Chartered Accountants in England and Wales (ICAEW)

bull Institute of Chartered Accountants of Scotland

bull Institute of Financial Accountants

bull Association of Accounting Technicians

United States of America

bull Association of International Certified Professional AccountantsndashAICPA

bull Institute of Management Accountants

Uruguay

bull Colegio de Contadores Economistas y Administradores del Uruguay

Vietnam

bull Vietnam Association of Accountants and Auditors

Zambia

bull Zambia Institute of Chartered Accountants

Zimbabwe

bull Institute of Chartered Accountants of Zimbabwe

APPENDICES


APPENDICES

ASSOCIATES (As at December 31 2020)

Armenia

bull Chamber of Auditors and Expert Accountants of Armenia (Formerly Association of Accountants and Auditors of Armenia)

Benin

bull Ordre des Experts-Comptables et Comptables Agreacuteeacutes du Beacutenin

Brunei Darussalam

bull Brunei Darussalam Institute of Certified Public Accountants

Burkina Faso

bull Ordre National des Experts-Comptables et des Comptables Agreacuteeacutes du Burkina Faso

Cambodia

bull Kampuchea Institute of Certified Public Accountants and Auditors

Croatia

bull Croatian Audit Chamber

Ecuador

bull Colegio de Contadores Puacuteblicos de Pichincha y del Ecuador

Guatemala

bull Colegio de Contadores Puacuteblicos y Auditores de Guatemala

Honduras

bull Colegio Hondurentildeo de Profesionales Universitarios en Contaduriacutea Puacuteblica

Indonesia

bull Institut Akuntan Publik Indonesia

Ireland

bull Accounting Technicians Ireland

Kazakhstan

bull Chamber of Professional Accountants of the Republic of Kazakhstan

Kyrgyz Republic

bull Union of Accountants and Auditors

Lao PDR

bull Lao Chamber of Professional Accountants and Auditors

Lithuania

bull Lithuanian Association of Accountants and Auditors

Luxembourg

bull Ordre des Experts-Comptables du Luxembourg

Montenegro

bull Institute of Accountants and Auditors of Montenegro

Mozambique

bull Ordem dos Contabilistas e Auditores de Moccedilambique

Myanmar

bull Myanmar Institute of Certified Public Accountants

Palestine

bull Palestinian Association of Certified Public

Accountants

Russian Federation

bull Russian Union of Auditors

bull Self-regulatory Organization of Auditors Association ldquoSodruzhestvordquo

Serbia Republic of

bull Chamber of Authorized Auditors of Serbia

Suriname

bull Suriname Chartered Accountants Institute

Togo

bull Ordre National des Experts-Comptables et des Comptables Agreacuteeacutes du Togo

Uzbekistan

bull Chamber of Auditors of Uzbekistan

bull National Association of Accountants and Auditors of Uzbekistan

Vietnam

bull Vietnam Association of Certified Public Accountants

Zimbabwe

bull Institute of Chartered Secretaries and Administrators in Zimbabwe



APPENDICES

AFFILIATES (As at December 31 2020)

Netherlands

bull Nederlandse Orde van Register EDP-Auditors

United Kingdom

bull Association of Corporate Treasurers


bull Information Systems Audit and Control Association

bull National Association of State Boards of Accountancy

IFAC NETWORK PARTNERS (As at December 31 2020)

Professional Accountancy Organizations

bull Accountancy Europe

bull ASEAN Federation of Accountants

bull Association of Accountancy Bodies of West Africa

bull Confederation of Asian and Pacific Accountants

bull Feacutedeacuteration des Experts-Comptables Meacutediterraneacuteens

bull Feacutedeacuteration Internationale des Experts Comptables et Commissaires aux Comptes Francophones

bull Gulf Cooperation Council Accounting and Auditing Association

bull Institute of Chartered Accountants of the Caribbean

bull Interamerican Accounting Association

bull Pan African Federation of Accountants

bull South Asian Federation of Accountants

Other IFAC Network Partners

bull International Financial Reporting Standards Foundation

bull International Integrated Reporting Council

bull International Organization of Supreme Audit Institutions

bull The Institute of Internal Auditors

bull United Nations Conference on Trade and Development

Regional Organizations


APPENDICES

OUR VOLUNTEERS

IFAC BOARD (November 2019 to November 2020)

Dr In-Ki Joo President

Alan Johnson Deputy President (United Kingdom ndash Portugal)

Yeong Kyun Ahn (Korea Republic of)

William Balhoff (United States)

Tommye Barie (United States)

Joan Curry (Ireland)

Ideacutesio da Silva Coelho Jr (Brazil)

Elbano De Nuccio (Italy)

Sheila Fraser (Canada)

Caroline Gardner (United Kingdom)

Winnie Nyamute (Kenya)

Lisa Padmore (Barbados)

Richard Petty (Australia)

Margreacutet Peacutetursdoacutettir (Nordic Federation - Iceland)

Christine Ramon (South Africa)

Asmacirca Resmouki (Morocco)

Shinji Someha (Japan)

Yacoob Suttar (Pakistan)

Jianhua Tang (China)

Joy Thomas (Canada)

Ayşe Arıak Tunaboylu (Turkey)

Fiona Wilkinson (United Kingdom)

Ismaila Muhammadu Zakari (Nigeria)

Swiss Liaison Officer Thorsten Kleibold

2019-2020 IFAC Board

Standing (L to R) Ayşe Arıak Tunaboylu (Turkey) Ideacutesio da Silva Coelho Jr (Brazil) Richard Petty (Australia)

Shinji Someha (Japan) Margreacutet Peacutetursdoacutettir (Nordic Federation - Iceland) Jianhua Tang (China) Elbano De Nuccio

(Italy) Tommye Barie (United States) William Balhoff (United States) Christine Ramon (South Africa) Yacoob Suttar

(Pakistan) IFAC Deputy President Alan Johnson (United Kingdom - Portugal) Joy Thomas (Canada)

Asmacirca Resmouki (Morocco) Sheila Fraser (Canada) Lisa Padmore (Barbados)

Seated (L to R) Yeong Kyun Ahn (Korea Republic of) Fiona Wilkinson (United Kingdom)

IFAC President Dr In-Ki Joo Joan Curry (Ireland) Winnie Nyamute (Kenya)

Missing Caroline Gardner (United Kingdom) and Ismaila Muhammadu Zakari (Nigeria)


APPENDICES

IFAC BOARD SUBCOMMITTEES AND ADVISORY GROUPS

Audit Committee

Tommye Barie Chair United States

Caroline Gardner United Kingdom

Lisa Padmore Barbados

Shinji Someha Japan

Ismaila Zakari Nigeria

Human Resources amp Compensation Committee

IFAC President Dr In-Ki Joo Chair

IFAC Deputy President Alan Johnson United Kingdom - Portugal

Tommye Barie United States

Ideacutesio da Silva Coelho Jr Brazil

Asmacirca Resmouki Morocco

Governance Committee

Asmacirca Resmouki Chair Morocco

William Balhoff United States

Joan Curry Ireland

Elbano de Nuccio Italy

Winnie Nyamute Kenya

Margreacutet Peacutetursdoacutettir Nordic Federation - Iceland

Membership Committee

Ideacutesio da Silva Coelho Jr Chair Brazil

Lindawati Gani Indonesia

Jim Knafo United States

Khalid Rahman Pakistan

Yelena Rodriguez Trujillo Panama

Ayşe Arıak Tunaboylu Turkey

Ismaila Muhammadu Zakari Nigeria

Planning and Finance Committee

IFAC Deputy President Alan Johnson Chair United Kingdom - Portugal

Yeong Kyun Ahn Korea Republic of


Christine Ramon South Africa

Joy Thomas Canada


Fiona Wilkinson United Kingdom

Tommye Barie United States (Audit Committee Chair Observer)

Wally Gregory United States (Forum of Firms Chair Observer)

Technology Advisory Group

Lisa Padmore Chair Barbados

Richard Anning United Kingdom

Tashia Batstone Canada

Jan Begg Australia

Robert Harris United States

Donny Shimamoto United States

Yacoob Suttar Pakistan

Chris Wales United Kingdom

Public Policy amp Regulation Advisory Group

Sheila Fraser Chair Canada

Helene Ageacutelii Nordic Federation - Sweden

Jean Bouquot France

Prafulla Chhajed India

Sue Coffey United States

Monica Foerster Brazil

Richard Petty Australia

Sanjay Rughani United Kingdom - Tanzania

Jianhua Tang China



IFAC Deputy President Alan Johnson Deputy Chair United Kingdom - Portugal

Guy Andrade Brazil

Kathryn Byrne United States

Michael Codling Australia

Angela Peasah Ghana

Wienand Schruff Germany

Aiko Sekine Japan


APPENDICES

IFAC COMMITTEES (Jan 1 2020 ndash Dec 31 2020)

International Panel on Accountancy Education

Anne-Marie Vitale Chair United States

Yoke Kai Chan Singapore

Dhal Choi Korea Republic of

Fabio Costa Brazil

Alice Deakin United Kingdom

Thorben Ehrlich Germany

Lionel Escaffre France

Susan Flis United States

Stacy-Ann Golding Trinidad amp Tobago

Simon Hann AustraliaNew Zealand

Alan Hatfield United Kingdom

Yvonne Hinson United States

Yoshinori Kawamura Japan

Chaaminda Kumarasiri Sri Lanka

Rania Uwaydah Mardini Lebanon

Gabriela Maria Farias Martinez Mexico

Innocent Okwuosa Nigeria

Greg Owens United States

Adriana Florina Popa Romania

Zhijian Song China

Kim Watty Australia

Irene Wiecek Canada

Professional Accountancy Organization Development Advisory Group

Arjuna Herath Chair Sri Lanka

Priya Iyer Deputy Chair Botswana - United Kingdom

Andrew Conway Australia

Arnaud Debray France

Sheree Ebanks Cayman Islands

Razak Jaiyeola Nigeria

Clemente Kiss Romania

Jamal Milhem Palestine - Jordan

Jelena Misita Bosnia and Herzegovina

Naeem Akhtar Sheikh Pakistan

Freddy Solis Nicaragua

Ivan Sotomayor United States

Professional Accountants in Business Advisory Group

Sanjay Rughani Chair United Kingdom - Tanzania

Stuart Chaplin Deputy Chair United Kingdom

Gregory Bedard United States

Daping Gao China

Ibrahim Murat Caglar Turkey

Zaiton Mohd Hassan Malaysia

Catherine Little United Kingdom

Daniel Monehin Nigeria - United Arab Emirates

Margaret Muinde Kenya

Stephen Muscat Malta

Khalilullah Shaikh Pakistan

Laurie Tugman Canada

Paul Urquhart Australia

Tine van de Werken the Netherlands

Ichiro Waki Japan

Larry White United States

Wendy Wen Yee Yung Hong Kong Special Administrative Region of China

Gloria Zvaravanhu Zimbabwe

Small and Medium Practices Advisory Group

Monica Foerster Chair Brazil

Robyn Erskine Deputy Chair Australia

William Bailey Malta

Klaus Bertram Germany

Andrew Brathwaite Barbados

Alexandra Penuela Cuesto Colombia

Antoni Goacutemez Spain

Naofumi Higuchi Japan

Twaha Kaawaase Uganda - United Kingdom

Wassim Khrouf Tunisia

Johnson Kong Hong Kong Special Administrative Region of China

Michael Mbaya Kenya

John Nagy Canada

Alex Peal United Kingdom

Matteo Pozzoli Italy

Tapani Vuopala Finland

George Willie United States

Dequan Yin China


APPENDICES

TRANSNATIONAL AUDITORS COMMITTEE

Voting Representatives

Sam Burke (Chair) PricewaterhouseCoopers International Limited

Jean-Luc Barlet Mazars

Bettina Cassegrain HLB International

David Chitty Crowe Global

Andrew Collier Kreston International

Roderick Devlin KPMG International Cooperative

Stewart Dunne BDO

Wallace Gregory Deloitte Touche Tohmatsu Limited

Jean-yves Jegourel Ernst amp Young Global Limited

Pablo San Martin SMS Latinoameacuterica

Katherine Schamerhorn Grant Thornton International Ltd

Alternate Representatives

Christine Albrecht Deloitte Touche Tohmatsu Limited

Sheri Anderson KPMG International Cooperative

Frederic Borras IECnet

Ed Fox Grant Thornton International Ltd

Marion Hannon RSM International Limited

Gary Hengelsberg Ernst amp Young Global Limited

Chris Smith BDO

Gill Spaul Moore Stephens International Limited

Alfredo Spilzinger SFAI

Laura Taylor PricewaterhouseCoopers International Limited

Paul Winrow Baker Tilly International Limited

Swiss Liaison Officer

Jeremy Howarth

IFAC does not accept responsibility for loss caused to any person who acts or

refrains from acting in reliance on the material in this publication whether

such loss is caused by negligence or otherwise The IFAC logo lsquoInternational

Federation of Accountantsrsquo and lsquoIFACrsquo are registered trademarks and service

marks of IFAC in the US and other countries

Copyright copy 2021 by the International Federation of Accountants (IFAC) All

rights reserved Written permission from IFAC is required to reproduce store

or transmit or to make other similar uses of this document save for where

the document is being used for individual noncommercial use only

Contact permissionsifacorg

ISBN 978-1-60815-439-5

Published by

529 Fifth Avenue | New York NY 10017

IFAC

IFAC

International Federation of Accountants


IFACrsquos 2020 integrated annual review is a key

element of IFACrsquos accountability to its 180 member

organizations in 135 jurisdictions the Forum of Firms

and other key stakeholders It provides an overview

of IFAC including its governance and stakeholder

engagement strategic objectives value creation

process and performance highlights

Drawing on integrated reporting principles and

concepts as presented in the International Integrated

Reporting ltIRgt Framework the review provides a

concise communication on how IFAC creates value

based on key resources and relationships covering

financial human intellectual social and relationship

capitals While the report does not attempt to detail

every initiative and workstream undertaken during

the year it does aim to provide a helpful overview

of some of our significant work and to impart a

sense of our future direction

We continue to make progress on our own reporting

journey The development of a methodology for

measurement and reduction of our carbon footprint

is a key priority for the organization in 2021 and we

plan to introduce information about IFACrsquos impacts on

natural capital in our report specifically in relation to

the emissions arising from IFACrsquos operations in 2022

IFACrsquos Board contributed to this Review which is

accompanied by our Financial Statements for the

year ended December 31 2020

Copyright copy 2021 by the International Federation of Accountantsreg (IFAC) For copyright trademark and permission information please see back cover

ABOUT THIS REVIEW


TABLE OF CONTENTS



What We Do 6

Our Governance 7







Appendices 22


Our Global Network

Members

Associates

Affiliates


Our Volunteers

IFAC Board










second to none

























Development Goals






public interest










Alan Johnson








because of them

Dr In-Ki Joo

IFAC President


Dr In-Ki Joo













LETTER FROM OUR CEO

Kevin Dancey





outcomes as



















important work









PUBLIC INTEREST

WHAT WE DO



VALUES

IFAC PURPOSE




IFAC GOVERNANCE



Council




Oversight

Committees

Audit

Governance


Membership










Monitoring Group

Board





AND INPUTS


Communications

Finance

Governance

HR

IP

Operations

Membership Dues

Forum of Firms


Funding

Staff



Forum of Firms




Annual CE Forum



PAO Development



Technology




Global Convener

Knowledge Gateway

Influential Voice









IFAC KEY ACTIVITIES







Thought Leadership

Policy and Advocacy



COUNCIL





























































OUR GOVERNANCE

IFAC STRATEGIC PLAN


BOARD






Board Effectiveness






































































identified risks










IFACBase




benefitsTotal

Kevin Dancey 641858 275000 23925 34516 975299

Russell Guthrie 501242 85000 23925 34904 645071


Base compensation



Nontaxable benefits

Total

James Gunn 460810 76500 23925 49176 610411

Keean Siong 317242 54900 23925 48903 444970




















































the COVID crisis



PROFESSION

STRATEGIC OBJECTIVE





















OVERALL PERFORMANCE


















What is this guide































































































































evolution



































for SMPs as trusted
























STRATEGIC OBJECTIVE



















OVERALL PERFORMANCE









profession included










digital future

















around













































EXPERIENCES
















Interest Committee





















by standard





STRATEGIC OBJECTIVE


IAASB




























IESBA





publications





















and its work


IPSASB

















OVERALL PERFORMANCE




























with costing








process




















ATTENTION


STRENGTHENING THE



SYSTEM

July 2020


OVERALL PERFORMANCE

















IFACrsquoS MISSION


Page 1 of 30

November 2020



IFAC STRATEGIC PLAN

November 2019


November 2019


SELECT ACHIEVEMENTS

Human Capital








Financial Capital



Technology
































Forum of Firms 12025437 12434676




Total Revenue $34585237 $35243758

Membership Dues

Forum of Firms

External Funding


Other Revenues

1

57

53

35



1

Expenses 2020 2019

Employee Costs $19662568 $18928688





IT Support 766823 707914


Total Expenses $30739471 $34076231

Employee Costs





IT Support

Other Expenses

2

64

21

44

3








APPENDICES



APPENDICES

Financial Position










Total Expenses $30739471 $34076231






58

9

14

10

10





At end of year $14156804 $10542491



APPENDICES

OUR GLOBAL NETWORK


Albania



Argentina


Australia


bull CPA Australia


Austria



bull Azerbaijan


Bahamas


Bangladesh



Barbados


Belgium



Bolivia





Botswana


Brazil



Bulgaria


Cameroon


Canada


Cayman Islands


Chile


China


Chinese Taiwan


Colombia


Costa Rica


Cyprus


Czech Republic


Denmark


Dominican Republic


Egypt


El Salvador


Estonia


eSwatini



Fiji


Finland


France



Georgia


Germany



Ghana


Greece


Guatemala


Guyana


Haiti


Honduras




Hungary


Iceland


India



Indonesia





Iraq


Ireland



Israel


Italy


Ivory Coast


Jamaica


Japan


Jordan



Kazakhstan


Kenya


Korea Republic of


Kosovo


Kuwait


Latvia



Lebanon


Lesotho


Liberia


APPENDICES


Lithuania


Luxembourg


Madagascar


Malawi


Malaysia



Malta


Mauritius


Mexico


Moldova Republic of


Mongolia


Montenegro


Morocco


Namibia


Nepal


Netherlands



New Zealand


Nicaragua


Nigeria



North Macedonia


Norway


Pakistan




Panama


Papua New Guinea


Paraguay


Peru


Philippines


Poland



Portugal



Romania



Rwanda


Saudi Arabia



APPENDICES



Senegal


Serbia Republic of


Sierra Leone


Singapore


Slovakia


Slovenia


South Africa



Spain


Sri Lanka




Sweden

bull FAR

Switzerland




Thailand


Trinidad and Tobago


Tunisia


Turkey



Uganda


Ukraine


United Kingdom











Uruguay


Vietnam


Zambia


Zimbabwe


APPENDICES


APPENDICES


Armenia


Benin


Brunei Darussalam


Burkina Faso


Cambodia


Croatia


Ecuador


Guatemala


Honduras


Indonesia


Ireland


Kazakhstan


Kyrgyz Republic


Lao PDR


Lithuania


Luxembourg


Montenegro


Mozambique


Myanmar


Palestine


Accountants

Russian Federation



Serbia Republic of


Suriname


Togo


Uzbekistan



Vietnam


Zimbabwe




APPENDICES


Netherlands


United Kingdom


























APPENDICES

OUR VOLUNTEERS





















Joy Thomas (Canada)















APPENDICES


Audit Committee




Shinji Someha Japan











Joan Curry Ireland

















Joy Thomas Canada









Jan Begg Australia








Jean Bouquot France






Jianhua Tang China




Guy Andrade Brazil



Angela Peasah Ghana


Aiko Sekine Japan


APPENDICES






Fabio Costa Brazil
















Zhijian Song China

Kim Watty Australia

Irene Wiecek Canada


















Daping Gao China











Ichiro Waki Japan
















Michael Mbaya Kenya

John Nagy Canada





Dequan Yin China


APPENDICES









Stewart Dunne BDO












Chris Smith BDO






Jeremy Howarth











ISBN 978-1-60815-439-5

Published by


IFAC

IFAC



TABLE OF CONTENTS



What We Do 6

Our Governance 7







Appendices 22


Our Global Network

Members

Associates

Affiliates


Our Volunteers

IFAC Board










second to none

























Development Goals






public interest










Alan Johnson








because of them

Dr In-Ki Joo

IFAC President


Dr In-Ki Joo













LETTER FROM OUR CEO

Kevin Dancey





outcomes as



















important work









PUBLIC INTEREST

WHAT WE DO



VALUES

IFAC PURPOSE




IFAC GOVERNANCE



Council




Oversight

Committees

Audit

Governance


Membership










Monitoring Group

Board





AND INPUTS


Communications

Finance

Governance

HR

IP

Operations

Membership Dues

Forum of Firms


Funding

Staff



Forum of Firms




Annual CE Forum



PAO Development



Technology




Global Convener

Knowledge Gateway

Influential Voice









IFAC KEY ACTIVITIES







Thought Leadership

Policy and Advocacy



COUNCIL





























































OUR GOVERNANCE

IFAC STRATEGIC PLAN


BOARD






Board Effectiveness






































































identified risks










IFACBase




benefitsTotal

Kevin Dancey 641858 275000 23925 34516 975299

Russell Guthrie 501242 85000 23925 34904 645071


Base compensation



Nontaxable benefits

Total

James Gunn 460810 76500 23925 49176 610411

Keean Siong 317242 54900 23925 48903 444970




















































the COVID crisis



PROFESSION

STRATEGIC OBJECTIVE





















OVERALL PERFORMANCE


















What is this guide































































































































evolution



































for SMPs as trusted
























STRATEGIC OBJECTIVE



















OVERALL PERFORMANCE









profession included










digital future

















around













































EXPERIENCES
















Interest Committee





















by standard





STRATEGIC OBJECTIVE


IAASB




























IESBA





publications





















and its work


IPSASB

















OVERALL PERFORMANCE




























with costing








process




















ATTENTION


STRENGTHENING THE



SYSTEM

July 2020


OVERALL PERFORMANCE

















IFACrsquoS MISSION


Page 1 of 30

November 2020



IFAC STRATEGIC PLAN

November 2019


November 2019


SELECT ACHIEVEMENTS

Human Capital








Financial Capital



Technology
































Forum of Firms 12025437 12434676




Total Revenue $34585237 $35243758

Membership Dues

Forum of Firms

External Funding


Other Revenues

1

57

53

35



1

Expenses 2020 2019

Employee Costs $19662568 $18928688





IT Support 766823 707914


Total Expenses $30739471 $34076231

Employee Costs





IT Support

Other Expenses

2

64

21

44

3








APPENDICES



APPENDICES

Financial Position










Total Expenses $30739471 $34076231






58

9

14

10

10





At end of year $14156804 $10542491



APPENDICES

OUR GLOBAL NETWORK


Albania



Argentina


Australia


bull CPA Australia


Austria



bull Azerbaijan


Bahamas


Bangladesh



Barbados


Belgium



Bolivia





Botswana


Brazil



Bulgaria


Cameroon


Canada


Cayman Islands


Chile


China


Chinese Taiwan


Colombia


Costa Rica


Cyprus


Czech Republic


Denmark


Dominican Republic


Egypt


El Salvador


Estonia


eSwatini



Fiji


Finland


France



Georgia


Germany



Ghana


Greece


Guatemala


Guyana


Haiti


Honduras




Hungary


Iceland


India



Indonesia





Iraq


Ireland



Israel


Italy


Ivory Coast


Jamaica


Japan


Jordan



Kazakhstan


Kenya


Korea Republic of


Kosovo


Kuwait


Latvia



Lebanon


Lesotho


Liberia


APPENDICES


Lithuania


Luxembourg


Madagascar


Malawi


Malaysia



Malta


Mauritius


Mexico


Moldova Republic of


Mongolia


Montenegro


Morocco


Namibia


Nepal


Netherlands



New Zealand


Nicaragua


Nigeria



North Macedonia


Norway


Pakistan




Panama


Papua New Guinea


Paraguay


Peru


Philippines


Poland



Portugal



Romania



Rwanda


Saudi Arabia



APPENDICES



Senegal


Serbia Republic of


Sierra Leone


Singapore


Slovakia


Slovenia


South Africa



Spain


Sri Lanka




Sweden

bull FAR

Switzerland




Thailand


Trinidad and Tobago


Tunisia


Turkey



Uganda


Ukraine


United Kingdom











Uruguay


Vietnam


Zambia


Zimbabwe


APPENDICES


APPENDICES


Armenia


Benin


Brunei Darussalam


Burkina Faso


Cambodia


Croatia


Ecuador


Guatemala


Honduras


Indonesia


Ireland


Kazakhstan


Kyrgyz Republic


Lao PDR


Lithuania


Luxembourg


Montenegro


Mozambique


Myanmar


Palestine


Accountants

Russian Federation



Serbia Republic of


Suriname


Togo


Uzbekistan



Vietnam


Zimbabwe




APPENDICES


Netherlands


United Kingdom


























APPENDICES

OUR VOLUNTEERS





















Joy Thomas (Canada)















APPENDICES


Audit Committee




Shinji Someha Japan











Joan Curry Ireland

















Joy Thomas Canada









Jan Begg Australia








Jean Bouquot France






Jianhua Tang China




Guy Andrade Brazil



Angela Peasah Ghana


Aiko Sekine Japan


APPENDICES






Fabio Costa Brazil
















Zhijian Song China

Kim Watty Australia

Irene Wiecek Canada


















Daping Gao China











Ichiro Waki Japan
















Michael Mbaya Kenya

John Nagy Canada





Dequan Yin China


APPENDICES









Stewart Dunne BDO












Chris Smith BDO






Jeremy Howarth











ISBN 978-1-60815-439-5

Published by


IFAC

IFAC








second to none

























Development Goals






public interest










Alan Johnson








because of them

Dr In-Ki Joo

IFAC President


Dr In-Ki Joo













LETTER FROM OUR CEO

Kevin Dancey





outcomes as



















important work









PUBLIC INTEREST

WHAT WE DO



VALUES

IFAC PURPOSE




IFAC GOVERNANCE



Council




Oversight

Committees

Audit

Governance


Membership










Monitoring Group

Board





AND INPUTS


Communications

Finance

Governance

HR

IP

Operations

Membership Dues

Forum of Firms


Funding

Staff



Forum of Firms




Annual CE Forum



PAO Development



Technology




Global Convener

Knowledge Gateway

Influential Voice









IFAC KEY ACTIVITIES







Thought Leadership

Policy and Advocacy



COUNCIL





























































OUR GOVERNANCE

IFAC STRATEGIC PLAN


BOARD






Board Effectiveness






































































identified risks










IFACBase




benefitsTotal

Kevin Dancey 641858 275000 23925 34516 975299

Russell Guthrie 501242 85000 23925 34904 645071


Base compensation



Nontaxable benefits

Total

James Gunn 460810 76500 23925 49176 610411

Keean Siong 317242 54900 23925 48903 444970




















































the COVID crisis



PROFESSION

STRATEGIC OBJECTIVE





















OVERALL PERFORMANCE


















What is this guide































































































































evolution



































for SMPs as trusted
























STRATEGIC OBJECTIVE



















OVERALL PERFORMANCE









profession included










digital future

















around













































EXPERIENCES
















Interest Committee





















by standard





STRATEGIC OBJECTIVE


IAASB




























IESBA





publications





















and its work


IPSASB

















OVERALL PERFORMANCE




























with costing








process




















ATTENTION


STRENGTHENING THE



SYSTEM

July 2020


OVERALL PERFORMANCE

















IFACrsquoS MISSION


Page 1 of 30

November 2020



IFAC STRATEGIC PLAN

November 2019


November 2019


SELECT ACHIEVEMENTS

Human Capital








Financial Capital



Technology
































Forum of Firms 12025437 12434676




Total Revenue $34585237 $35243758

Membership Dues

Forum of Firms

External Funding


Other Revenues

1

57

53

35



1

Expenses 2020 2019

Employee Costs $19662568 $18928688





IT Support 766823 707914


Total Expenses $30739471 $34076231

Employee Costs





IT Support

Other Expenses

2

64

21

44

3








APPENDICES



APPENDICES

Financial Position










Total Expenses $30739471 $34076231






58

9

14

10

10





At end of year $14156804 $10542491



APPENDICES

OUR GLOBAL NETWORK


Albania



Argentina


Australia


bull CPA Australia


Austria



bull Azerbaijan


Bahamas


Bangladesh



Barbados


Belgium



Bolivia





Botswana


Brazil



Bulgaria


Cameroon


Canada


Cayman Islands


Chile


China


Chinese Taiwan


Colombia


Costa Rica


Cyprus


Czech Republic


Denmark


Dominican Republic


Egypt


El Salvador


Estonia


eSwatini



Fiji


Finland


France



Georgia


Germany



Ghana


Greece


Guatemala


Guyana


Haiti


Honduras




Hungary


Iceland


India



Indonesia





Iraq


Ireland



Israel


Italy


Ivory Coast


Jamaica


Japan


Jordan



Kazakhstan


Kenya


Korea Republic of


Kosovo


Kuwait


Latvia



Lebanon


Lesotho


Liberia


APPENDICES


Lithuania


Luxembourg


Madagascar


Malawi


Malaysia



Malta


Mauritius


Mexico


Moldova Republic of


Mongolia


Montenegro


Morocco


Namibia


Nepal


Netherlands



New Zealand


Nicaragua


Nigeria



North Macedonia


Norway


Pakistan




Panama


Papua New Guinea


Paraguay


Peru


Philippines


Poland



Portugal



Romania



Rwanda


Saudi Arabia



APPENDICES



Senegal


Serbia Republic of


Sierra Leone


Singapore


Slovakia


Slovenia


South Africa



Spain


Sri Lanka




Sweden

bull FAR

Switzerland




Thailand


Trinidad and Tobago


Tunisia


Turkey



Uganda


Ukraine


United Kingdom











Uruguay


Vietnam


Zambia


Zimbabwe


APPENDICES


APPENDICES


Armenia


Benin


Brunei Darussalam


Burkina Faso


Cambodia


Croatia


Ecuador


Guatemala


Honduras


Indonesia


Ireland


Kazakhstan


Kyrgyz Republic


Lao PDR


Lithuania


Luxembourg


Montenegro


Mozambique


Myanmar


Palestine


Accountants

Russian Federation



Serbia Republic of


Suriname


Togo


Uzbekistan



Vietnam


Zimbabwe




APPENDICES


Netherlands


United Kingdom


























APPENDICES

OUR VOLUNTEERS





















Joy Thomas (Canada)















APPENDICES


Audit Committee




Shinji Someha Japan











Joan Curry Ireland

















Joy Thomas Canada









Jan Begg Australia








Jean Bouquot France






Jianhua Tang China




Guy Andrade Brazil



Angela Peasah Ghana


Aiko Sekine Japan


APPENDICES






Fabio Costa Brazil
















Zhijian Song China

Kim Watty Australia

Irene Wiecek Canada


















Daping Gao China











Ichiro Waki Japan
















Michael Mbaya Kenya

John Nagy Canada





Dequan Yin China


APPENDICES









Stewart Dunne BDO












Chris Smith BDO






Jeremy Howarth











ISBN 978-1-60815-439-5

Published by


IFAC

IFAC














LETTER FROM OUR CEO

Kevin Dancey





outcomes as



















important work









PUBLIC INTEREST

WHAT WE DO



VALUES

IFAC PURPOSE




IFAC GOVERNANCE



Council




Oversight

Committees

Audit

Governance


Membership










Monitoring Group

Board





AND INPUTS


Communications

Finance

Governance

HR

IP

Operations

Membership Dues

Forum of Firms


Funding

Staff



Forum of Firms




Annual CE Forum



PAO Development



Technology




Global Convener

Knowledge Gateway

Influential Voice









IFAC KEY ACTIVITIES







Thought Leadership

Policy and Advocacy



COUNCIL





























































OUR GOVERNANCE

IFAC STRATEGIC PLAN


BOARD






Board Effectiveness






































































identified risks










IFACBase




benefitsTotal

Kevin Dancey 641858 275000 23925 34516 975299

Russell Guthrie 501242 85000 23925 34904 645071


Base compensation



Nontaxable benefits

Total

James Gunn 460810 76500 23925 49176 610411

Keean Siong 317242 54900 23925 48903 444970




















































the COVID crisis



PROFESSION

STRATEGIC OBJECTIVE





















OVERALL PERFORMANCE


















What is this guide































































































































evolution



































for SMPs as trusted
























STRATEGIC OBJECTIVE



















OVERALL PERFORMANCE









profession included










digital future

















around













































EXPERIENCES
















Interest Committee





















by standard





STRATEGIC OBJECTIVE


IAASB




























IESBA





publications





















and its work


IPSASB

















OVERALL PERFORMANCE




























with costing








process




















ATTENTION


STRENGTHENING THE



SYSTEM

July 2020


OVERALL PERFORMANCE

















IFACrsquoS MISSION


Page 1 of 30

November 2020



IFAC STRATEGIC PLAN

November 2019


November 2019


SELECT ACHIEVEMENTS

Human Capital








Financial Capital



Technology
































Forum of Firms 12025437 12434676




Total Revenue $34585237 $35243758

Membership Dues

Forum of Firms

External Funding


Other Revenues

1

57

53

35



1

Expenses 2020 2019

Employee Costs $19662568 $18928688





IT Support 766823 707914


Total Expenses $30739471 $34076231

Employee Costs





IT Support

Other Expenses

2

64

21

44

3








APPENDICES



APPENDICES

Financial Position










Total Expenses $30739471 $34076231






58

9

14

10

10





At end of year $14156804 $10542491



APPENDICES

OUR GLOBAL NETWORK


Albania



Argentina


Australia


bull CPA Australia


Austria



bull Azerbaijan


Bahamas


Bangladesh



Barbados


Belgium



Bolivia





Botswana


Brazil



Bulgaria


Cameroon


Canada


Cayman Islands


Chile


China


Chinese Taiwan


Colombia


Costa Rica


Cyprus


Czech Republic


Denmark


Dominican Republic


Egypt


El Salvador


Estonia


eSwatini



Fiji


Finland


France



Georgia


Germany



Ghana


Greece


Guatemala


Guyana


Haiti


Honduras




Hungary


Iceland


India



Indonesia





Iraq


Ireland



Israel


Italy


Ivory Coast


Jamaica


Japan


Jordan



Kazakhstan


Kenya


Korea Republic of


Kosovo


Kuwait


Latvia



Lebanon


Lesotho


Liberia


APPENDICES


Lithuania


Luxembourg


Madagascar


Malawi


Malaysia



Malta


Mauritius


Mexico


Moldova Republic of


Mongolia


Montenegro


Morocco


Namibia


Nepal


Netherlands



New Zealand


Nicaragua


Nigeria



North Macedonia


Norway


Pakistan




Panama


Papua New Guinea


Paraguay


Peru


Philippines


Poland



Portugal



Romania



Rwanda


Saudi Arabia



APPENDICES



Senegal


Serbia Republic of


Sierra Leone


Singapore


Slovakia


Slovenia


South Africa



Spain


Sri Lanka




Sweden

bull FAR

Switzerland




Thailand


Trinidad and Tobago


Tunisia


Turkey



Uganda


Ukraine


United Kingdom











Uruguay


Vietnam


Zambia


Zimbabwe


APPENDICES


APPENDICES


Armenia


Benin


Brunei Darussalam


Burkina Faso


Cambodia


Croatia


Ecuador


Guatemala


Honduras


Indonesia


Ireland


Kazakhstan


Kyrgyz Republic


Lao PDR


Lithuania


Luxembourg


Montenegro


Mozambique


Myanmar


Palestine


Accountants

Russian Federation



Serbia Republic of


Suriname


Togo


Uzbekistan



Vietnam


Zimbabwe




APPENDICES


Netherlands


United Kingdom


























APPENDICES

OUR VOLUNTEERS





















Joy Thomas (Canada)















APPENDICES


Audit Committee




Shinji Someha Japan











Joan Curry Ireland

















Joy Thomas Canada









Jan Begg Australia








Jean Bouquot France






Jianhua Tang China




Guy Andrade Brazil



Angela Peasah Ghana


Aiko Sekine Japan


APPENDICES






Fabio Costa Brazil
















Zhijian Song China

Kim Watty Australia

Irene Wiecek Canada


















Daping Gao China











Ichiro Waki Japan
















Michael Mbaya Kenya

John Nagy Canada





Dequan Yin China


APPENDICES









Stewart Dunne BDO












Chris Smith BDO






Jeremy Howarth











ISBN 978-1-60815-439-5

Published by


IFAC

IFAC






outcomes as



















important work









PUBLIC INTEREST

WHAT WE DO



VALUES

IFAC PURPOSE




IFAC GOVERNANCE



Council




Oversight

Committees

Audit

Governance


Membership










Monitoring Group

Board





AND INPUTS


Communications

Finance

Governance

HR

IP

Operations

Membership Dues

Forum of Firms


Funding

Staff



Forum of Firms




Annual CE Forum



PAO Development



Technology




Global Convener

Knowledge Gateway

Influential Voice









IFAC KEY ACTIVITIES







Thought Leadership

Policy and Advocacy



COUNCIL





























































OUR GOVERNANCE

IFAC STRATEGIC PLAN


BOARD






Board Effectiveness






































































identified risks










IFACBase




benefitsTotal

Kevin Dancey 641858 275000 23925 34516 975299

Russell Guthrie 501242 85000 23925 34904 645071


Base compensation



Nontaxable benefits

Total

James Gunn 460810 76500 23925 49176 610411

Keean Siong 317242 54900 23925 48903 444970




















































the COVID crisis



PROFESSION

STRATEGIC OBJECTIVE





















OVERALL PERFORMANCE


















What is this guide































































































































evolution



































for SMPs as trusted
























STRATEGIC OBJECTIVE



















OVERALL PERFORMANCE









profession included










digital future

















around













































EXPERIENCES
















Interest Committee





















by standard





STRATEGIC OBJECTIVE


IAASB




























IESBA





publications





















and its work


IPSASB

















OVERALL PERFORMANCE




























with costing








process




















ATTENTION


STRENGTHENING THE



SYSTEM

July 2020


OVERALL PERFORMANCE

















IFACrsquoS MISSION


Page 1 of 30

November 2020



IFAC STRATEGIC PLAN

November 2019


November 2019


SELECT ACHIEVEMENTS

Human Capital








Financial Capital



Technology
































Forum of Firms 12025437 12434676




Total Revenue $34585237 $35243758

Membership Dues

Forum of Firms

External Funding


Other Revenues

1

57

53

35



1

Expenses 2020 2019

Employee Costs $19662568 $18928688





IT Support 766823 707914


Total Expenses $30739471 $34076231

Employee Costs





IT Support

Other Expenses

2

64

21

44

3








APPENDICES



APPENDICES

Financial Position










Total Expenses $30739471 $34076231






58

9

14

10

10





At end of year $14156804 $10542491



APPENDICES

OUR GLOBAL NETWORK


Albania



Argentina


Australia


bull CPA Australia


Austria



bull Azerbaijan


Bahamas


Bangladesh



Barbados


Belgium



Bolivia





Botswana


Brazil



Bulgaria


Cameroon


Canada


Cayman Islands


Chile


China


Chinese Taiwan


Colombia


Costa Rica


Cyprus


Czech Republic


Denmark


Dominican Republic


Egypt


El Salvador


Estonia


eSwatini



Fiji


Finland


France



Georgia


Germany



Ghana


Greece


Guatemala


Guyana


Haiti


Honduras




Hungary


Iceland


India



Indonesia





Iraq


Ireland



Israel


Italy


Ivory Coast


Jamaica


Japan


Jordan



Kazakhstan


Kenya


Korea Republic of


Kosovo


Kuwait


Latvia



Lebanon


Lesotho


Liberia


APPENDICES


Lithuania


Luxembourg


Madagascar


Malawi


Malaysia



Malta


Mauritius


Mexico


Moldova Republic of


Mongolia


Montenegro


Morocco


Namibia


Nepal


Netherlands



New Zealand


Nicaragua


Nigeria



North Macedonia


Norway


Pakistan




Panama


Papua New Guinea


Paraguay


Peru


Philippines


Poland



Portugal



Romania



Rwanda


Saudi Arabia



APPENDICES



Senegal


Serbia Republic of


Sierra Leone


Singapore


Slovakia


Slovenia


South Africa



Spain


Sri Lanka




Sweden

bull FAR

Switzerland




Thailand


Trinidad and Tobago


Tunisia


Turkey



Uganda


Ukraine


United Kingdom











Uruguay


Vietnam


Zambia


Zimbabwe


APPENDICES


APPENDICES


Armenia


Benin


Brunei Darussalam


Burkina Faso


Cambodia


Croatia


Ecuador


Guatemala


Honduras


Indonesia


Ireland


Kazakhstan


Kyrgyz Republic


Lao PDR


Lithuania


Luxembourg


Montenegro


Mozambique


Myanmar


Palestine


Accountants

Russian Federation



Serbia Republic of


Suriname


Togo


Uzbekistan



Vietnam


Zimbabwe




APPENDICES


Netherlands


United Kingdom


























APPENDICES

OUR VOLUNTEERS





















Joy Thomas (Canada)















APPENDICES


Audit Committee




Shinji Someha Japan











Joan Curry Ireland

















Joy Thomas Canada









Jan Begg Australia








Jean Bouquot France






Jianhua Tang China




Guy Andrade Brazil



Angela Peasah Ghana


Aiko Sekine Japan


APPENDICES






Fabio Costa Brazil
















Zhijian Song China

Kim Watty Australia

Irene Wiecek Canada


















Daping Gao China











Ichiro Waki Japan
















Michael Mbaya Kenya

John Nagy Canada





Dequan Yin China


APPENDICES









Stewart Dunne BDO












Chris Smith BDO






Jeremy Howarth











ISBN 978-1-60815-439-5

Published by


IFAC

IFAC



COUNCIL





























































OUR GOVERNANCE

IFAC STRATEGIC PLAN


BOARD






Board Effectiveness






































































identified risks










IFACBase




benefitsTotal

Kevin Dancey 641858 275000 23925 34516 975299

Russell Guthrie 501242 85000 23925 34904 645071


Base compensation



Nontaxable benefits

Total

James Gunn 460810 76500 23925 49176 610411

Keean Siong 317242 54900 23925 48903 444970




















































the COVID crisis



PROFESSION

STRATEGIC OBJECTIVE





















OVERALL PERFORMANCE


















What is this guide































































































































evolution



































for SMPs as trusted
























STRATEGIC OBJECTIVE



















OVERALL PERFORMANCE









profession included










digital future

















around













































EXPERIENCES
















Interest Committee





















by standard





STRATEGIC OBJECTIVE


IAASB




























IESBA





publications





















and its work


IPSASB

















OVERALL PERFORMANCE




























with costing








process




















ATTENTION


STRENGTHENING THE



SYSTEM

July 2020


OVERALL PERFORMANCE

















IFACrsquoS MISSION


Page 1 of 30

November 2020



IFAC STRATEGIC PLAN

November 2019


November 2019


SELECT ACHIEVEMENTS

Human Capital








Financial Capital



Technology
































Forum of Firms 12025437 12434676




Total Revenue $34585237 $35243758

Membership Dues

Forum of Firms

External Funding


Other Revenues

1

57

53

35



1

Expenses 2020 2019

Employee Costs $19662568 $18928688





IT Support 766823 707914


Total Expenses $30739471 $34076231

Employee Costs





IT Support

Other Expenses

2

64

21

44

3








APPENDICES



APPENDICES

Financial Position










Total Expenses $30739471 $34076231






58

9

14

10

10





At end of year $14156804 $10542491



APPENDICES

OUR GLOBAL NETWORK


Albania



Argentina


Australia


bull CPA Australia


Austria



bull Azerbaijan


Bahamas


Bangladesh



Barbados


Belgium



Bolivia





Botswana


Brazil



Bulgaria


Cameroon


Canada


Cayman Islands


Chile


China


Chinese Taiwan


Colombia


Costa Rica


Cyprus


Czech Republic


Denmark


Dominican Republic


Egypt


El Salvador


Estonia


eSwatini



Fiji


Finland


France



Georgia


Germany



Ghana


Greece


Guatemala


Guyana


Haiti


Honduras




Hungary


Iceland


India



Indonesia





Iraq


Ireland



Israel


Italy


Ivory Coast


Jamaica


Japan


Jordan



Kazakhstan


Kenya


Korea Republic of


Kosovo


Kuwait


Latvia



Lebanon


Lesotho


Liberia


APPENDICES


Lithuania


Luxembourg


Madagascar


Malawi


Malaysia



Malta


Mauritius


Mexico


Moldova Republic of


Mongolia


Montenegro


Morocco


Namibia


Nepal


Netherlands



New Zealand


Nicaragua


Nigeria



North Macedonia


Norway


Pakistan




Panama


Papua New Guinea


Paraguay


Peru


Philippines


Poland



Portugal



Romania



Rwanda


Saudi Arabia



APPENDICES



Senegal


Serbia Republic of


Sierra Leone


Singapore


Slovakia


Slovenia


South Africa



Spain


Sri Lanka




Sweden

bull FAR

Switzerland




Thailand


Trinidad and Tobago


Tunisia


Turkey



Uganda


Ukraine


United Kingdom











Uruguay


Vietnam


Zambia


Zimbabwe


APPENDICES


APPENDICES


Armenia


Benin


Brunei Darussalam


Burkina Faso


Cambodia


Croatia


Ecuador


Guatemala


Honduras


Indonesia


Ireland


Kazakhstan


Kyrgyz Republic


Lao PDR


Lithuania


Luxembourg


Montenegro


Mozambique


Myanmar


Palestine


Accountants

Russian Federation



Serbia Republic of


Suriname


Togo


Uzbekistan



Vietnam


Zimbabwe




APPENDICES


Netherlands


United Kingdom


























APPENDICES

OUR VOLUNTEERS





















Joy Thomas (Canada)















APPENDICES


Audit Committee




Shinji Someha Japan











Joan Curry Ireland

















Joy Thomas Canada









Jan Begg Australia








Jean Bouquot France






Jianhua Tang China




Guy Andrade Brazil



Angela Peasah Ghana


Aiko Sekine Japan


APPENDICES






Fabio Costa Brazil
















Zhijian Song China

Kim Watty Australia

Irene Wiecek Canada


















Daping Gao China











Ichiro Waki Japan
















Michael Mbaya Kenya

John Nagy Canada





Dequan Yin China


APPENDICES









Stewart Dunne BDO












Chris Smith BDO






Jeremy Howarth











ISBN 978-1-60815-439-5

Published by


IFAC

IFAC



BOARD






Board Effectiveness






































































identified risks










IFACBase




benefitsTotal

Kevin Dancey 641858 275000 23925 34516 975299

Russell Guthrie 501242 85000 23925 34904 645071


Base compensation



Nontaxable benefits

Total

James Gunn 460810 76500 23925 49176 610411

Keean Siong 317242 54900 23925 48903 444970




















































the COVID crisis



PROFESSION

STRATEGIC OBJECTIVE





















OVERALL PERFORMANCE


















What is this guide































































































































evolution



































for SMPs as trusted
























STRATEGIC OBJECTIVE



















OVERALL PERFORMANCE









profession included










digital future

















around













































EXPERIENCES
















Interest Committee





















by standard





STRATEGIC OBJECTIVE


IAASB




























IESBA





publications





















and its work


IPSASB

















OVERALL PERFORMANCE




























with costing








process




















ATTENTION


STRENGTHENING THE



SYSTEM

July 2020


OVERALL PERFORMANCE

















IFACrsquoS MISSION


Page 1 of 30

November 2020



IFAC STRATEGIC PLAN

November 2019


November 2019


SELECT ACHIEVEMENTS

Human Capital








Financial Capital



Technology
































Forum of Firms 12025437 12434676




Total Revenue $34585237 $35243758

Membership Dues

Forum of Firms

External Funding


Other Revenues

1

57

53

35



1

Expenses 2020 2019

Employee Costs $19662568 $18928688





IT Support 766823 707914


Total Expenses $30739471 $34076231

Employee Costs





IT Support

Other Expenses

2

64

21

44

3








APPENDICES



APPENDICES

Financial Position










Total Expenses $30739471 $34076231






58

9

14

10

10





At end of year $14156804 $10542491



APPENDICES

OUR GLOBAL NETWORK


Albania



Argentina


Australia


bull CPA Australia


Austria



bull Azerbaijan


Bahamas


Bangladesh



Barbados


Belgium



Bolivia





Botswana


Brazil



Bulgaria


Cameroon


Canada


Cayman Islands


Chile


China


Chinese Taiwan


Colombia


Costa Rica


Cyprus


Czech Republic


Denmark


Dominican Republic


Egypt


El Salvador


Estonia


eSwatini



Fiji


Finland


France



Georgia


Germany



Ghana


Greece


Guatemala


Guyana


Haiti


Honduras




Hungary


Iceland


India



Indonesia





Iraq


Ireland



Israel


Italy


Ivory Coast


Jamaica


Japan


Jordan



Kazakhstan


Kenya


Korea Republic of


Kosovo


Kuwait


Latvia



Lebanon


Lesotho


Liberia


APPENDICES


Lithuania


Luxembourg


Madagascar


Malawi


Malaysia



Malta


Mauritius


Mexico


Moldova Republic of


Mongolia


Montenegro


Morocco


Namibia


Nepal


Netherlands



New Zealand


Nicaragua


Nigeria



North Macedonia


Norway


Pakistan




Panama


Papua New Guinea


Paraguay


Peru


Philippines


Poland



Portugal



Romania



Rwanda


Saudi Arabia



APPENDICES



Senegal


Serbia Republic of


Sierra Leone


Singapore


Slovakia


Slovenia


South Africa



Spain


Sri Lanka




Sweden

bull FAR

Switzerland




Thailand


Trinidad and Tobago


Tunisia


Turkey



Uganda


Ukraine


United Kingdom











Uruguay


Vietnam


Zambia


Zimbabwe


APPENDICES


APPENDICES


Armenia


Benin


Brunei Darussalam


Burkina Faso


Cambodia


Croatia


Ecuador


Guatemala


Honduras


Indonesia


Ireland


Kazakhstan


Kyrgyz Republic


Lao PDR


Lithuania


Luxembourg


Montenegro


Mozambique


Myanmar


Palestine


Accountants

Russian Federation



Serbia Republic of


Suriname


Togo


Uzbekistan



Vietnam


Zimbabwe




APPENDICES


Netherlands


United Kingdom


























APPENDICES

OUR VOLUNTEERS





















Joy Thomas (Canada)















APPENDICES


Audit Committee




Shinji Someha Japan











Joan Curry Ireland

















Joy Thomas Canada









Jan Begg Australia








Jean Bouquot France






Jianhua Tang China




Guy Andrade Brazil



Angela Peasah Ghana


Aiko Sekine Japan


APPENDICES






Fabio Costa Brazil
















Zhijian Song China

Kim Watty Australia

Irene Wiecek Canada


















Daping Gao China











Ichiro Waki Japan
















Michael Mbaya Kenya

John Nagy Canada





Dequan Yin China


APPENDICES









Stewart Dunne BDO












Chris Smith BDO






Jeremy Howarth











ISBN 978-1-60815-439-5

Published by


IFAC

IFAC





























identified risks










IFACBase




benefitsTotal

Kevin Dancey 641858 275000 23925 34516 975299

Russell Guthrie 501242 85000 23925 34904 645071


Base compensation



Nontaxable benefits

Total

James Gunn 460810 76500 23925 49176 610411

Keean Siong 317242 54900 23925 48903 444970




















































the COVID crisis



PROFESSION

STRATEGIC OBJECTIVE





















OVERALL PERFORMANCE


















What is this guide































































































































evolution



































for SMPs as trusted
























STRATEGIC OBJECTIVE



















OVERALL PERFORMANCE









profession included










digital future

















around













































EXPERIENCES
















Interest Committee





















by standard





STRATEGIC OBJECTIVE


IAASB




























IESBA





publications





















and its work


IPSASB

















OVERALL PERFORMANCE




























with costing








process




















ATTENTION


STRENGTHENING THE



SYSTEM

July 2020


OVERALL PERFORMANCE

















IFACrsquoS MISSION


Page 1 of 30

November 2020



IFAC STRATEGIC PLAN

November 2019


November 2019


SELECT ACHIEVEMENTS

Human Capital








Financial Capital



Technology
































Forum of Firms 12025437 12434676




Total Revenue $34585237 $35243758

Membership Dues

Forum of Firms

External Funding


Other Revenues

1

57

53

35



1

Expenses 2020 2019

Employee Costs $19662568 $18928688





IT Support 766823 707914


Total Expenses $30739471 $34076231

Employee Costs





IT Support

Other Expenses

2

64

21

44

3








APPENDICES



APPENDICES

Financial Position










Total Expenses $30739471 $34076231






58

9

14

10

10





At end of year $14156804 $10542491



APPENDICES

OUR GLOBAL NETWORK


Albania



Argentina


Australia


bull CPA Australia


Austria



bull Azerbaijan


Bahamas


Bangladesh



Barbados


Belgium



Bolivia





Botswana


Brazil



Bulgaria


Cameroon


Canada


Cayman Islands


Chile


China


Chinese Taiwan


Colombia


Costa Rica


Cyprus


Czech Republic


Denmark


Dominican Republic


Egypt


El Salvador


Estonia


eSwatini



Fiji


Finland


France



Georgia


Germany



Ghana


Greece


Guatemala


Guyana


Haiti


Honduras




Hungary


Iceland


India



Indonesia





Iraq


Ireland



Israel


Italy


Ivory Coast


Jamaica


Japan


Jordan



Kazakhstan


Kenya


Korea Republic of


Kosovo


Kuwait


Latvia



Lebanon


Lesotho


Liberia


APPENDICES


Lithuania


Luxembourg


Madagascar


Malawi


Malaysia



Malta


Mauritius


Mexico


Moldova Republic of


Mongolia


Montenegro


Morocco


Namibia


Nepal


Netherlands



New Zealand


Nicaragua


Nigeria



North Macedonia


Norway


Pakistan




Panama


Papua New Guinea


Paraguay


Peru


Philippines


Poland



Portugal



Romania



Rwanda


Saudi Arabia



APPENDICES



Senegal


Serbia Republic of


Sierra Leone


Singapore


Slovakia


Slovenia


South Africa



Spain


Sri Lanka




Sweden

bull FAR

Switzerland




Thailand


Trinidad and Tobago


Tunisia


Turkey



Uganda


Ukraine


United Kingdom











Uruguay


Vietnam


Zambia


Zimbabwe


APPENDICES


APPENDICES


Armenia


Benin


Brunei Darussalam


Burkina Faso


Cambodia


Croatia


Ecuador


Guatemala


Honduras


Indonesia


Ireland


Kazakhstan


Kyrgyz Republic


Lao PDR


Lithuania


Luxembourg


Montenegro


Mozambique


Myanmar


Palestine


Accountants

Russian Federation



Serbia Republic of


Suriname


Togo


Uzbekistan



Vietnam


Zimbabwe




APPENDICES


Netherlands


United Kingdom


























APPENDICES

OUR VOLUNTEERS





















Joy Thomas (Canada)















APPENDICES


Audit Committee




Shinji Someha Japan











Joan Curry Ireland

















Joy Thomas Canada









Jan Begg Australia








Jean Bouquot France






Jianhua Tang China




Guy Andrade Brazil



Angela Peasah Ghana


Aiko Sekine Japan


APPENDICES






Fabio Costa Brazil
















Zhijian Song China

Kim Watty Australia

Irene Wiecek Canada


















Daping Gao China











Ichiro Waki Japan
















Michael Mbaya Kenya

John Nagy Canada





Dequan Yin China


APPENDICES









Stewart Dunne BDO












Chris Smith BDO






Jeremy Howarth











ISBN 978-1-60815-439-5

Published by


IFAC

IFAC
















































the COVID crisis



PROFESSION

STRATEGIC OBJECTIVE





















OVERALL PERFORMANCE


















What is this guide































































































































evolution



































for SMPs as trusted
























STRATEGIC OBJECTIVE



















OVERALL PERFORMANCE









profession included










digital future

















around













































EXPERIENCES
















Interest Committee





















by standard





STRATEGIC OBJECTIVE


IAASB




























IESBA





publications





















and its work


IPSASB

















OVERALL PERFORMANCE




























with costing








process




















ATTENTION


STRENGTHENING THE



SYSTEM

July 2020


OVERALL PERFORMANCE

















IFACrsquoS MISSION


Page 1 of 30

November 2020



IFAC STRATEGIC PLAN

November 2019


November 2019


SELECT ACHIEVEMENTS

Human Capital








Financial Capital



Technology
































Forum of Firms 12025437 12434676




Total Revenue $34585237 $35243758

Membership Dues

Forum of Firms

External Funding


Other Revenues

1

57

53

35



1

Expenses 2020 2019

Employee Costs $19662568 $18928688





IT Support 766823 707914


Total Expenses $30739471 $34076231

Employee Costs





IT Support

Other Expenses

2

64

21

44

3








APPENDICES



APPENDICES

Financial Position










Total Expenses $30739471 $34076231






58

9

14

10

10





At end of year $14156804 $10542491



APPENDICES

OUR GLOBAL NETWORK


Albania



Argentina


Australia


bull CPA Australia


Austria



bull Azerbaijan


Bahamas


Bangladesh



Barbados


Belgium



Bolivia





Botswana


Brazil



Bulgaria


Cameroon


Canada


Cayman Islands


Chile


China


Chinese Taiwan


Colombia


Costa Rica


Cyprus


Czech Republic


Denmark


Dominican Republic


Egypt


El Salvador


Estonia


eSwatini



Fiji


Finland


France



Georgia


Germany



Ghana


Greece


Guatemala


Guyana


Haiti


Honduras




Hungary


Iceland


India



Indonesia





Iraq


Ireland



Israel


Italy


Ivory Coast


Jamaica


Japan


Jordan



Kazakhstan


Kenya


Korea Republic of


Kosovo


Kuwait


Latvia



Lebanon


Lesotho


Liberia


APPENDICES


Lithuania


Luxembourg


Madagascar


Malawi


Malaysia



Malta


Mauritius


Mexico


Moldova Republic of


Mongolia


Montenegro


Morocco


Namibia


Nepal


Netherlands



New Zealand


Nicaragua


Nigeria



North Macedonia


Norway


Pakistan




Panama


Papua New Guinea


Paraguay


Peru


Philippines


Poland



Portugal



Romania



Rwanda


Saudi Arabia



APPENDICES



Senegal


Serbia Republic of


Sierra Leone


Singapore


Slovakia


Slovenia


South Africa



Spain


Sri Lanka




Sweden

bull FAR

Switzerland




Thailand


Trinidad and Tobago


Tunisia


Turkey



Uganda


Ukraine


United Kingdom











Uruguay


Vietnam


Zambia


Zimbabwe


APPENDICES


APPENDICES


Armenia


Benin


Brunei Darussalam


Burkina Faso


Cambodia


Croatia


Ecuador


Guatemala


Honduras


Indonesia


Ireland


Kazakhstan


Kyrgyz Republic


Lao PDR


Lithuania


Luxembourg


Montenegro


Mozambique


Myanmar


Palestine


Accountants

Russian Federation



Serbia Republic of


Suriname


Togo


Uzbekistan



Vietnam


Zimbabwe




APPENDICES


Netherlands


United Kingdom


























APPENDICES

OUR VOLUNTEERS





















Joy Thomas (Canada)















APPENDICES


Audit Committee




Shinji Someha Japan











Joan Curry Ireland

















Joy Thomas Canada









Jan Begg Australia








Jean Bouquot France






Jianhua Tang China




Guy Andrade Brazil



Angela Peasah Ghana


Aiko Sekine Japan


APPENDICES






Fabio Costa Brazil
















Zhijian Song China

Kim Watty Australia

Irene Wiecek Canada


















Daping Gao China











Ichiro Waki Japan
















Michael Mbaya Kenya

John Nagy Canada





Dequan Yin China


APPENDICES









Stewart Dunne BDO












Chris Smith BDO






Jeremy Howarth











ISBN 978-1-60815-439-5

Published by


IFAC

IFAC




















OVERALL PERFORMANCE


















What is this guide































































































































evolution



































for SMPs as trusted
























STRATEGIC OBJECTIVE



















OVERALL PERFORMANCE









profession included










digital future

















around













































EXPERIENCES
















Interest Committee





















by standard





STRATEGIC OBJECTIVE


IAASB




























IESBA





publications





















and its work


IPSASB

















OVERALL PERFORMANCE




























with costing








process




















ATTENTION


STRENGTHENING THE



SYSTEM

July 2020


OVERALL PERFORMANCE

















IFACrsquoS MISSION


Page 1 of 30

November 2020



IFAC STRATEGIC PLAN

November 2019


November 2019


SELECT ACHIEVEMENTS

Human Capital








Financial Capital



Technology
































Forum of Firms 12025437 12434676




Total Revenue $34585237 $35243758

Membership Dues

Forum of Firms

External Funding


Other Revenues

1

57

53

35



1

Expenses 2020 2019

Employee Costs $19662568 $18928688





IT Support 766823 707914


Total Expenses $30739471 $34076231

Employee Costs





IT Support

Other Expenses

2

64

21

44

3








APPENDICES



APPENDICES

Financial Position










Total Expenses $30739471 $34076231






58

9

14

10

10





At end of year $14156804 $10542491



APPENDICES

OUR GLOBAL NETWORK


Albania



Argentina


Australia


bull CPA Australia


Austria



bull Azerbaijan


Bahamas


Bangladesh



Barbados


Belgium



Bolivia





Botswana


Brazil



Bulgaria


Cameroon


Canada


Cayman Islands


Chile


China


Chinese Taiwan


Colombia


Costa Rica


Cyprus


Czech Republic


Denmark


Dominican Republic


Egypt


El Salvador


Estonia


eSwatini



Fiji


Finland


France



Georgia


Germany



Ghana


Greece


Guatemala


Guyana


Haiti


Honduras




Hungary


Iceland


India



Indonesia





Iraq


Ireland



Israel


Italy


Ivory Coast


Jamaica


Japan


Jordan



Kazakhstan


Kenya


Korea Republic of


Kosovo


Kuwait


Latvia



Lebanon


Lesotho


Liberia


APPENDICES


Lithuania


Luxembourg


Madagascar


Malawi


Malaysia



Malta


Mauritius


Mexico


Moldova Republic of


Mongolia


Montenegro


Morocco


Namibia


Nepal


Netherlands



New Zealand


Nicaragua


Nigeria



North Macedonia


Norway


Pakistan




Panama


Papua New Guinea


Paraguay


Peru


Philippines


Poland



Portugal



Romania



Rwanda


Saudi Arabia



APPENDICES



Senegal


Serbia Republic of


Sierra Leone


Singapore


Slovakia


Slovenia


South Africa



Spain


Sri Lanka




Sweden

bull FAR

Switzerland




Thailand


Trinidad and Tobago


Tunisia


Turkey



Uganda


Ukraine


United Kingdom











Uruguay


Vietnam


Zambia


Zimbabwe


APPENDICES


APPENDICES


Armenia


Benin


Brunei Darussalam


Burkina Faso


Cambodia


Croatia


Ecuador


Guatemala


Honduras


Indonesia


Ireland


Kazakhstan


Kyrgyz Republic


Lao PDR


Lithuania


Luxembourg


Montenegro


Mozambique


Myanmar


Palestine


Accountants

Russian Federation



Serbia Republic of


Suriname


Togo


Uzbekistan



Vietnam


Zimbabwe




APPENDICES


Netherlands


United Kingdom


























APPENDICES

OUR VOLUNTEERS





















Joy Thomas (Canada)















APPENDICES


Audit Committee




Shinji Someha Japan











Joan Curry Ireland

















Joy Thomas Canada









Jan Begg Australia








Jean Bouquot France






Jianhua Tang China




Guy Andrade Brazil



Angela Peasah Ghana


Aiko Sekine Japan


APPENDICES






Fabio Costa Brazil
















Zhijian Song China

Kim Watty Australia

Irene Wiecek Canada


















Daping Gao China











Ichiro Waki Japan
















Michael Mbaya Kenya

John Nagy Canada





Dequan Yin China


APPENDICES









Stewart Dunne BDO












Chris Smith BDO






Jeremy Howarth











ISBN 978-1-60815-439-5

Published by


IFAC

IFAC





























































evolution



































for SMPs as trusted
























STRATEGIC OBJECTIVE



















OVERALL PERFORMANCE









profession included










digital future

















around













































EXPERIENCES
















Interest Committee





















by standard





STRATEGIC OBJECTIVE


IAASB




























IESBA





publications





















and its work


IPSASB

















OVERALL PERFORMANCE




























with costing








process




















ATTENTION


STRENGTHENING THE



SYSTEM

July 2020


OVERALL PERFORMANCE

















IFACrsquoS MISSION


Page 1 of 30

November 2020



IFAC STRATEGIC PLAN

November 2019


November 2019


SELECT ACHIEVEMENTS

Human Capital








Financial Capital



Technology
































Forum of Firms 12025437 12434676




Total Revenue $34585237 $35243758

Membership Dues

Forum of Firms

External Funding


Other Revenues

1

57

53

35



1

Expenses 2020 2019

Employee Costs $19662568 $18928688





IT Support 766823 707914


Total Expenses $30739471 $34076231

Employee Costs





IT Support

Other Expenses

2

64

21

44

3








APPENDICES



APPENDICES

Financial Position










Total Expenses $30739471 $34076231






58

9

14

10

10





At end of year $14156804 $10542491



APPENDICES

OUR GLOBAL NETWORK


Albania



Argentina


Australia


bull CPA Australia


Austria



bull Azerbaijan


Bahamas


Bangladesh



Barbados


Belgium



Bolivia





Botswana


Brazil



Bulgaria


Cameroon


Canada


Cayman Islands


Chile


China


Chinese Taiwan


Colombia


Costa Rica


Cyprus


Czech Republic


Denmark


Dominican Republic


Egypt


El Salvador


Estonia


eSwatini



Fiji


Finland


France



Georgia


Germany



Ghana


Greece


Guatemala


Guyana


Haiti


Honduras




Hungary


Iceland


India



Indonesia





Iraq


Ireland



Israel


Italy


Ivory Coast


Jamaica


Japan


Jordan



Kazakhstan


Kenya


Korea Republic of


Kosovo


Kuwait


Latvia



Lebanon


Lesotho


Liberia


APPENDICES


Lithuania


Luxembourg


Madagascar


Malawi


Malaysia



Malta


Mauritius


Mexico


Moldova Republic of


Mongolia


Montenegro


Morocco


Namibia


Nepal


Netherlands



New Zealand


Nicaragua


Nigeria



North Macedonia


Norway


Pakistan




Panama


Papua New Guinea


Paraguay


Peru


Philippines


Poland



Portugal



Romania



Rwanda


Saudi Arabia



APPENDICES



Senegal


Serbia Republic of


Sierra Leone


Singapore


Slovakia


Slovenia


South Africa



Spain


Sri Lanka




Sweden

bull FAR

Switzerland




Thailand


Trinidad and Tobago


Tunisia


Turkey



Uganda


Ukraine


United Kingdom











Uruguay


Vietnam


Zambia


Zimbabwe


APPENDICES


APPENDICES


Armenia


Benin


Brunei Darussalam


Burkina Faso


Cambodia


Croatia


Ecuador


Guatemala


Honduras


Indonesia


Ireland


Kazakhstan


Kyrgyz Republic


Lao PDR


Lithuania


Luxembourg


Montenegro


Mozambique


Myanmar


Palestine


Accountants

Russian Federation



Serbia Republic of


Suriname


Togo


Uzbekistan



Vietnam


Zimbabwe




APPENDICES


Netherlands


United Kingdom


























APPENDICES

OUR VOLUNTEERS





















Joy Thomas (Canada)















APPENDICES


Audit Committee




Shinji Someha Japan











Joan Curry Ireland

















Joy Thomas Canada









Jan Begg Australia








Jean Bouquot France






Jianhua Tang China




Guy Andrade Brazil



Angela Peasah Ghana


Aiko Sekine Japan


APPENDICES






Fabio Costa Brazil
















Zhijian Song China

Kim Watty Australia

Irene Wiecek Canada


















Daping Gao China











Ichiro Waki Japan
















Michael Mbaya Kenya

John Nagy Canada





Dequan Yin China


APPENDICES









Stewart Dunne BDO












Chris Smith BDO






Jeremy Howarth











ISBN 978-1-60815-439-5

Published by


IFAC

IFAC


























for SMPs as trusted
























STRATEGIC OBJECTIVE



















OVERALL PERFORMANCE









profession included










digital future

















around













































EXPERIENCES
















Interest Committee





















by standard





STRATEGIC OBJECTIVE


IAASB




























IESBA





publications





















and its work


IPSASB

















OVERALL PERFORMANCE




























with costing








process




















ATTENTION


STRENGTHENING THE



SYSTEM

July 2020


OVERALL PERFORMANCE

















IFACrsquoS MISSION


Page 1 of 30

November 2020



IFAC STRATEGIC PLAN

November 2019


November 2019


SELECT ACHIEVEMENTS

Human Capital








Financial Capital



Technology
































Forum of Firms 12025437 12434676




Total Revenue $34585237 $35243758

Membership Dues

Forum of Firms

External Funding


Other Revenues

1

57

53

35



1

Expenses 2020 2019

Employee Costs $19662568 $18928688





IT Support 766823 707914


Total Expenses $30739471 $34076231

Employee Costs





IT Support

Other Expenses

2

64

21

44

3








APPENDICES



APPENDICES

Financial Position










Total Expenses $30739471 $34076231






58

9

14

10

10





At end of year $14156804 $10542491



APPENDICES

OUR GLOBAL NETWORK


Albania



Argentina


Australia


bull CPA Australia


Austria



bull Azerbaijan


Bahamas


Bangladesh



Barbados


Belgium



Bolivia





Botswana


Brazil



Bulgaria


Cameroon


Canada


Cayman Islands


Chile


China


Chinese Taiwan


Colombia


Costa Rica


Cyprus


Czech Republic


Denmark


Dominican Republic


Egypt


El Salvador


Estonia


eSwatini



Fiji


Finland


France



Georgia


Germany



Ghana


Greece


Guatemala


Guyana


Haiti


Honduras




Hungary


Iceland


India



Indonesia





Iraq


Ireland



Israel


Italy


Ivory Coast


Jamaica


Japan


Jordan



Kazakhstan


Kenya


Korea Republic of


Kosovo


Kuwait


Latvia



Lebanon


Lesotho


Liberia


APPENDICES


Lithuania


Luxembourg


Madagascar


Malawi


Malaysia



Malta


Mauritius


Mexico


Moldova Republic of


Mongolia


Montenegro


Morocco


Namibia


Nepal


Netherlands



New Zealand


Nicaragua


Nigeria



North Macedonia


Norway


Pakistan




Panama


Papua New Guinea


Paraguay


Peru


Philippines


Poland



Portugal



Romania



Rwanda


Saudi Arabia



APPENDICES



Senegal


Serbia Republic of


Sierra Leone


Singapore


Slovakia


Slovenia


South Africa



Spain


Sri Lanka




Sweden

bull FAR

Switzerland




Thailand


Trinidad and Tobago


Tunisia


Turkey



Uganda


Ukraine


United Kingdom











Uruguay


Vietnam


Zambia


Zimbabwe


APPENDICES


APPENDICES


Armenia


Benin


Brunei Darussalam


Burkina Faso


Cambodia


Croatia


Ecuador


Guatemala


Honduras


Indonesia


Ireland


Kazakhstan


Kyrgyz Republic


Lao PDR


Lithuania


Luxembourg


Montenegro


Mozambique


Myanmar


Palestine


Accountants

Russian Federation



Serbia Republic of


Suriname


Togo


Uzbekistan



Vietnam


Zimbabwe




APPENDICES


Netherlands


United Kingdom


























APPENDICES

OUR VOLUNTEERS





















Joy Thomas (Canada)















APPENDICES


Audit Committee




Shinji Someha Japan











Joan Curry Ireland

















Joy Thomas Canada









Jan Begg Australia








Jean Bouquot France






Jianhua Tang China




Guy Andrade Brazil



Angela Peasah Ghana


Aiko Sekine Japan


APPENDICES






Fabio Costa Brazil
















Zhijian Song China

Kim Watty Australia

Irene Wiecek Canada


















Daping Gao China











Ichiro Waki Japan
















Michael Mbaya Kenya

John Nagy Canada





Dequan Yin China


APPENDICES









Stewart Dunne BDO












Chris Smith BDO






Jeremy Howarth











ISBN 978-1-60815-439-5

Published by


IFAC

IFAC












OVERALL PERFORMANCE









profession included










digital future

















around













































EXPERIENCES
















Interest Committee





















by standard





STRATEGIC OBJECTIVE


IAASB




























IESBA





publications





















and its work


IPSASB

















OVERALL PERFORMANCE




























with costing








process




















ATTENTION


STRENGTHENING THE



SYSTEM

July 2020


OVERALL PERFORMANCE

















IFACrsquoS MISSION


Page 1 of 30

November 2020



IFAC STRATEGIC PLAN

November 2019


November 2019


SELECT ACHIEVEMENTS

Human Capital








Financial Capital



Technology
































Forum of Firms 12025437 12434676




Total Revenue $34585237 $35243758

Membership Dues

Forum of Firms

External Funding


Other Revenues

1

57

53

35



1

Expenses 2020 2019

Employee Costs $19662568 $18928688





IT Support 766823 707914


Total Expenses $30739471 $34076231

Employee Costs





IT Support

Other Expenses

2

64

21

44

3








APPENDICES



APPENDICES

Financial Position










Total Expenses $30739471 $34076231






58

9

14

10

10





At end of year $14156804 $10542491



APPENDICES

OUR GLOBAL NETWORK


Albania



Argentina


Australia


bull CPA Australia


Austria



bull Azerbaijan


Bahamas


Bangladesh



Barbados


Belgium



Bolivia





Botswana


Brazil



Bulgaria


Cameroon


Canada


Cayman Islands


Chile


China


Chinese Taiwan


Colombia


Costa Rica


Cyprus


Czech Republic


Denmark


Dominican Republic


Egypt


El Salvador


Estonia


eSwatini



Fiji


Finland


France



Georgia


Germany



Ghana


Greece


Guatemala


Guyana


Haiti


Honduras




Hungary


Iceland


India



Indonesia





Iraq


Ireland



Israel


Italy


Ivory Coast


Jamaica


Japan


Jordan



Kazakhstan


Kenya


Korea Republic of


Kosovo


Kuwait


Latvia



Lebanon


Lesotho


Liberia


APPENDICES


Lithuania


Luxembourg


Madagascar


Malawi


Malaysia



Malta


Mauritius


Mexico


Moldova Republic of


Mongolia


Montenegro


Morocco


Namibia


Nepal


Netherlands



New Zealand


Nicaragua


Nigeria



North Macedonia


Norway


Pakistan




Panama


Papua New Guinea


Paraguay


Peru


Philippines


Poland



Portugal



Romania



Rwanda


Saudi Arabia



APPENDICES



Senegal


Serbia Republic of


Sierra Leone


Singapore


Slovakia


Slovenia


South Africa



Spain


Sri Lanka




Sweden

bull FAR

Switzerland




Thailand


Trinidad and Tobago


Tunisia


Turkey



Uganda


Ukraine


United Kingdom











Uruguay


Vietnam


Zambia


Zimbabwe


APPENDICES


APPENDICES


Armenia


Benin


Brunei Darussalam


Burkina Faso


Cambodia


Croatia


Ecuador


Guatemala


Honduras


Indonesia


Ireland


Kazakhstan


Kyrgyz Republic


Lao PDR


Lithuania


Luxembourg


Montenegro


Mozambique


Myanmar


Palestine


Accountants

Russian Federation



Serbia Republic of


Suriname


Togo


Uzbekistan



Vietnam


Zimbabwe




APPENDICES


Netherlands


United Kingdom


























APPENDICES

OUR VOLUNTEERS





















Joy Thomas (Canada)















APPENDICES


Audit Committee




Shinji Someha Japan











Joan Curry Ireland

















Joy Thomas Canada









Jan Begg Australia








Jean Bouquot France






Jianhua Tang China




Guy Andrade Brazil



Angela Peasah Ghana


Aiko Sekine Japan


APPENDICES






Fabio Costa Brazil
















Zhijian Song China

Kim Watty Australia

Irene Wiecek Canada


















Daping Gao China











Ichiro Waki Japan
















Michael Mbaya Kenya

John Nagy Canada





Dequan Yin China


APPENDICES









Stewart Dunne BDO












Chris Smith BDO






Jeremy Howarth











ISBN 978-1-60815-439-5

Published by


IFAC

IFAC








digital future

















around













































EXPERIENCES
















Interest Committee





















by standard





STRATEGIC OBJECTIVE


IAASB




























IESBA





publications





















and its work


IPSASB

















OVERALL PERFORMANCE




























with costing








process




















ATTENTION


STRENGTHENING THE



SYSTEM

July 2020


OVERALL PERFORMANCE

















IFACrsquoS MISSION


Page 1 of 30

November 2020



IFAC STRATEGIC PLAN

November 2019


November 2019


SELECT ACHIEVEMENTS

Human Capital








Financial Capital



Technology
































Forum of Firms 12025437 12434676




Total Revenue $34585237 $35243758

Membership Dues

Forum of Firms

External Funding


Other Revenues

1

57

53

35



1

Expenses 2020 2019

Employee Costs $19662568 $18928688





IT Support 766823 707914


Total Expenses $30739471 $34076231

Employee Costs





IT Support

Other Expenses

2

64

21

44

3








APPENDICES



APPENDICES

Financial Position










Total Expenses $30739471 $34076231






58

9

14

10

10





At end of year $14156804 $10542491



APPENDICES

OUR GLOBAL NETWORK


Albania



Argentina


Australia


bull CPA Australia


Austria



bull Azerbaijan


Bahamas


Bangladesh



Barbados


Belgium



Bolivia





Botswana


Brazil



Bulgaria


Cameroon


Canada


Cayman Islands


Chile


China


Chinese Taiwan


Colombia


Costa Rica


Cyprus


Czech Republic


Denmark


Dominican Republic


Egypt


El Salvador


Estonia


eSwatini



Fiji


Finland


France



Georgia


Germany



Ghana


Greece


Guatemala


Guyana


Haiti


Honduras




Hungary


Iceland


India



Indonesia





Iraq


Ireland



Israel


Italy


Ivory Coast


Jamaica


Japan


Jordan



Kazakhstan


Kenya


Korea Republic of


Kosovo


Kuwait


Latvia



Lebanon


Lesotho


Liberia


APPENDICES


Lithuania


Luxembourg


Madagascar


Malawi


Malaysia



Malta


Mauritius


Mexico


Moldova Republic of


Mongolia


Montenegro


Morocco


Namibia


Nepal


Netherlands



New Zealand


Nicaragua


Nigeria



North Macedonia


Norway


Pakistan




Panama


Papua New Guinea


Paraguay


Peru


Philippines


Poland



Portugal



Romania



Rwanda


Saudi Arabia



APPENDICES



Senegal


Serbia Republic of


Sierra Leone


Singapore


Slovakia


Slovenia


South Africa



Spain


Sri Lanka




Sweden

bull FAR

Switzerland




Thailand


Trinidad and Tobago


Tunisia


Turkey



Uganda


Ukraine


United Kingdom











Uruguay


Vietnam


Zambia


Zimbabwe


APPENDICES


APPENDICES


Armenia


Benin


Brunei Darussalam


Burkina Faso


Cambodia


Croatia


Ecuador


Guatemala


Honduras


Indonesia


Ireland


Kazakhstan


Kyrgyz Republic


Lao PDR


Lithuania


Luxembourg


Montenegro


Mozambique


Myanmar


Palestine


Accountants

Russian Federation



Serbia Republic of


Suriname


Togo


Uzbekistan



Vietnam


Zimbabwe




APPENDICES


Netherlands


United Kingdom


























APPENDICES

OUR VOLUNTEERS





















Joy Thomas (Canada)















APPENDICES


Audit Committee




Shinji Someha Japan











Joan Curry Ireland

















Joy Thomas Canada









Jan Begg Australia








Jean Bouquot France






Jianhua Tang China




Guy Andrade Brazil



Angela Peasah Ghana


Aiko Sekine Japan


APPENDICES






Fabio Costa Brazil
















Zhijian Song China

Kim Watty Australia

Irene Wiecek Canada


















Daping Gao China











Ichiro Waki Japan
















Michael Mbaya Kenya

John Nagy Canada





Dequan Yin China


APPENDICES









Stewart Dunne BDO












Chris Smith BDO






Jeremy Howarth











ISBN 978-1-60815-439-5

Published by


IFAC

IFAC

















Interest Committee





















by standard





STRATEGIC OBJECTIVE


IAASB




























IESBA





publications





















and its work


IPSASB

















OVERALL PERFORMANCE




























with costing








process




















ATTENTION


STRENGTHENING THE



SYSTEM

July 2020


OVERALL PERFORMANCE

















IFACrsquoS MISSION


Page 1 of 30

November 2020



IFAC STRATEGIC PLAN

November 2019


November 2019


SELECT ACHIEVEMENTS

Human Capital








Financial Capital



Technology
































Forum of Firms 12025437 12434676




Total Revenue $34585237 $35243758

Membership Dues

Forum of Firms

External Funding


Other Revenues

1

57

53

35



1

Expenses 2020 2019

Employee Costs $19662568 $18928688





IT Support 766823 707914


Total Expenses $30739471 $34076231

Employee Costs





IT Support

Other Expenses

2

64

21

44

3








APPENDICES



APPENDICES

Financial Position










Total Expenses $30739471 $34076231






58

9

14

10

10





At end of year $14156804 $10542491



APPENDICES

OUR GLOBAL NETWORK


Albania



Argentina


Australia


bull CPA Australia


Austria



bull Azerbaijan


Bahamas


Bangladesh



Barbados


Belgium



Bolivia





Botswana


Brazil



Bulgaria


Cameroon


Canada


Cayman Islands


Chile


China


Chinese Taiwan


Colombia


Costa Rica


Cyprus


Czech Republic


Denmark


Dominican Republic


Egypt


El Salvador


Estonia


eSwatini



Fiji


Finland


France



Georgia


Germany



Ghana


Greece


Guatemala


Guyana


Haiti


Honduras




Hungary


Iceland


India



Indonesia





Iraq


Ireland



Israel


Italy


Ivory Coast


Jamaica


Japan


Jordan



Kazakhstan


Kenya


Korea Republic of


Kosovo


Kuwait


Latvia



Lebanon


Lesotho


Liberia


APPENDICES


Lithuania


Luxembourg


Madagascar


Malawi


Malaysia



Malta


Mauritius


Mexico


Moldova Republic of


Mongolia


Montenegro


Morocco


Namibia


Nepal


Netherlands



New Zealand


Nicaragua


Nigeria



North Macedonia


Norway


Pakistan




Panama


Papua New Guinea


Paraguay


Peru


Philippines


Poland



Portugal



Romania



Rwanda


Saudi Arabia



APPENDICES



Senegal


Serbia Republic of


Sierra Leone


Singapore


Slovakia


Slovenia


South Africa



Spain


Sri Lanka




Sweden

bull FAR

Switzerland




Thailand


Trinidad and Tobago


Tunisia


Turkey



Uganda


Ukraine


United Kingdom











Uruguay


Vietnam


Zambia


Zimbabwe


APPENDICES


APPENDICES


Armenia


Benin


Brunei Darussalam


Burkina Faso


Cambodia


Croatia


Ecuador


Guatemala


Honduras


Indonesia


Ireland


Kazakhstan


Kyrgyz Republic


Lao PDR


Lithuania


Luxembourg


Montenegro


Mozambique


Myanmar


Palestine


Accountants

Russian Federation



Serbia Republic of


Suriname


Togo


Uzbekistan



Vietnam


Zimbabwe




APPENDICES


Netherlands


United Kingdom


























APPENDICES

OUR VOLUNTEERS





















Joy Thomas (Canada)















APPENDICES


Audit Committee




Shinji Someha Japan











Joan Curry Ireland

















Joy Thomas Canada









Jan Begg Australia








Jean Bouquot France






Jianhua Tang China




Guy Andrade Brazil



Angela Peasah Ghana


Aiko Sekine Japan


APPENDICES






Fabio Costa Brazil
















Zhijian Song China

Kim Watty Australia

Irene Wiecek Canada


















Daping Gao China











Ichiro Waki Japan
















Michael Mbaya Kenya

John Nagy Canada





Dequan Yin China


APPENDICES









Stewart Dunne BDO












Chris Smith BDO






Jeremy Howarth











ISBN 978-1-60815-439-5

Published by


IFAC

IFAC



IAASB




























IESBA





publications





















and its work


IPSASB

















OVERALL PERFORMANCE




























with costing








process




















ATTENTION


STRENGTHENING THE



SYSTEM

July 2020


OVERALL PERFORMANCE

















IFACrsquoS MISSION


Page 1 of 30

November 2020



IFAC STRATEGIC PLAN

November 2019


November 2019


SELECT ACHIEVEMENTS

Human Capital








Financial Capital



Technology
































Forum of Firms 12025437 12434676




Total Revenue $34585237 $35243758

Membership Dues

Forum of Firms

External Funding


Other Revenues

1

57

53

35



1

Expenses 2020 2019

Employee Costs $19662568 $18928688





IT Support 766823 707914


Total Expenses $30739471 $34076231

Employee Costs





IT Support

Other Expenses

2

64

21

44

3








APPENDICES



APPENDICES

Financial Position










Total Expenses $30739471 $34076231






58

9

14

10

10





At end of year $14156804 $10542491



APPENDICES

OUR GLOBAL NETWORK


Albania



Argentina


Australia


bull CPA Australia


Austria



bull Azerbaijan


Bahamas


Bangladesh



Barbados


Belgium



Bolivia





Botswana


Brazil



Bulgaria


Cameroon


Canada


Cayman Islands


Chile


China


Chinese Taiwan


Colombia


Costa Rica


Cyprus


Czech Republic


Denmark


Dominican Republic


Egypt


El Salvador


Estonia


eSwatini



Fiji


Finland


France



Georgia


Germany



Ghana


Greece


Guatemala


Guyana


Haiti


Honduras




Hungary


Iceland


India



Indonesia





Iraq


Ireland



Israel


Italy


Ivory Coast


Jamaica


Japan


Jordan



Kazakhstan


Kenya


Korea Republic of


Kosovo


Kuwait


Latvia



Lebanon


Lesotho


Liberia


APPENDICES


Lithuania


Luxembourg


Madagascar


Malawi


Malaysia



Malta


Mauritius


Mexico


Moldova Republic of


Mongolia


Montenegro


Morocco


Namibia


Nepal


Netherlands



New Zealand


Nicaragua


Nigeria



North Macedonia


Norway


Pakistan




Panama


Papua New Guinea


Paraguay


Peru


Philippines


Poland



Portugal



Romania



Rwanda


Saudi Arabia



APPENDICES



Senegal


Serbia Republic of


Sierra Leone


Singapore


Slovakia


Slovenia


South Africa



Spain


Sri Lanka




Sweden

bull FAR

Switzerland




Thailand


Trinidad and Tobago


Tunisia


Turkey



Uganda


Ukraine


United Kingdom











Uruguay


Vietnam


Zambia


Zimbabwe


APPENDICES


APPENDICES


Armenia


Benin


Brunei Darussalam


Burkina Faso


Cambodia


Croatia


Ecuador


Guatemala


Honduras


Indonesia


Ireland


Kazakhstan


Kyrgyz Republic


Lao PDR


Lithuania


Luxembourg


Montenegro


Mozambique


Myanmar


Palestine


Accountants

Russian Federation



Serbia Republic of


Suriname


Togo


Uzbekistan



Vietnam


Zimbabwe




APPENDICES


Netherlands


United Kingdom


























APPENDICES

OUR VOLUNTEERS





















Joy Thomas (Canada)















APPENDICES


Audit Committee




Shinji Someha Japan











Joan Curry Ireland

















Joy Thomas Canada









Jan Begg Australia








Jean Bouquot France






Jianhua Tang China




Guy Andrade Brazil



Angela Peasah Ghana


Aiko Sekine Japan


APPENDICES






Fabio Costa Brazil
















Zhijian Song China

Kim Watty Australia

Irene Wiecek Canada


















Daping Gao China











Ichiro Waki Japan
















Michael Mbaya Kenya

John Nagy Canada





Dequan Yin China


APPENDICES









Stewart Dunne BDO












Chris Smith BDO






Jeremy Howarth











ISBN 978-1-60815-439-5

Published by


IFAC

IFAC



IPSASB

















OVERALL PERFORMANCE




























with costing








process




















ATTENTION


STRENGTHENING THE



SYSTEM

July 2020


OVERALL PERFORMANCE

















IFACrsquoS MISSION


Page 1 of 30

November 2020



IFAC STRATEGIC PLAN

November 2019


November 2019


SELECT ACHIEVEMENTS

Human Capital








Financial Capital



Technology
































Forum of Firms 12025437 12434676




Total Revenue $34585237 $35243758

Membership Dues

Forum of Firms

External Funding


Other Revenues

1

57

53

35



1

Expenses 2020 2019

Employee Costs $19662568 $18928688





IT Support 766823 707914


Total Expenses $30739471 $34076231

Employee Costs





IT Support

Other Expenses

2

64

21

44

3








APPENDICES



APPENDICES

Financial Position










Total Expenses $30739471 $34076231






58

9

14

10

10





At end of year $14156804 $10542491



APPENDICES

OUR GLOBAL NETWORK


Albania



Argentina


Australia


bull CPA Australia


Austria



bull Azerbaijan


Bahamas


Bangladesh



Barbados


Belgium



Bolivia





Botswana


Brazil



Bulgaria


Cameroon


Canada


Cayman Islands


Chile


China


Chinese Taiwan


Colombia


Costa Rica


Cyprus


Czech Republic


Denmark


Dominican Republic


Egypt


El Salvador


Estonia


eSwatini



Fiji


Finland


France



Georgia


Germany



Ghana


Greece


Guatemala


Guyana


Haiti


Honduras




Hungary


Iceland


India



Indonesia





Iraq


Ireland



Israel


Italy


Ivory Coast


Jamaica


Japan


Jordan



Kazakhstan


Kenya


Korea Republic of


Kosovo


Kuwait


Latvia



Lebanon


Lesotho


Liberia


APPENDICES


Lithuania


Luxembourg


Madagascar


Malawi


Malaysia



Malta


Mauritius


Mexico


Moldova Republic of


Mongolia


Montenegro


Morocco


Namibia


Nepal


Netherlands



New Zealand


Nicaragua


Nigeria



North Macedonia


Norway


Pakistan




Panama


Papua New Guinea


Paraguay


Peru


Philippines


Poland



Portugal



Romania



Rwanda


Saudi Arabia



APPENDICES



Senegal


Serbia Republic of


Sierra Leone


Singapore


Slovakia


Slovenia


South Africa



Spain


Sri Lanka




Sweden

bull FAR

Switzerland




Thailand


Trinidad and Tobago


Tunisia


Turkey



Uganda


Ukraine


United Kingdom











Uruguay


Vietnam


Zambia


Zimbabwe


APPENDICES


APPENDICES


Armenia


Benin


Brunei Darussalam


Burkina Faso


Cambodia


Croatia


Ecuador


Guatemala


Honduras


Indonesia


Ireland


Kazakhstan


Kyrgyz Republic


Lao PDR


Lithuania


Luxembourg


Montenegro


Mozambique


Myanmar


Palestine


Accountants

Russian Federation



Serbia Republic of


Suriname


Togo


Uzbekistan



Vietnam


Zimbabwe




APPENDICES


Netherlands


United Kingdom


























APPENDICES

OUR VOLUNTEERS





















Joy Thomas (Canada)















APPENDICES


Audit Committee




Shinji Someha Japan











Joan Curry Ireland

















Joy Thomas Canada









Jan Begg Australia








Jean Bouquot France






Jianhua Tang China




Guy Andrade Brazil



Angela Peasah Ghana


Aiko Sekine Japan


APPENDICES






Fabio Costa Brazil
















Zhijian Song China

Kim Watty Australia

Irene Wiecek Canada


















Daping Gao China











Ichiro Waki Japan
















Michael Mbaya Kenya

John Nagy Canada





Dequan Yin China


APPENDICES









Stewart Dunne BDO












Chris Smith BDO






Jeremy Howarth











ISBN 978-1-60815-439-5

Published by


IFAC

IFAC






















with costing








process




















ATTENTION


STRENGTHENING THE



SYSTEM

July 2020


OVERALL PERFORMANCE

















IFACrsquoS MISSION


Page 1 of 30

November 2020



IFAC STRATEGIC PLAN

November 2019


November 2019


SELECT ACHIEVEMENTS

Human Capital








Financial Capital



Technology
































Forum of Firms 12025437 12434676




Total Revenue $34585237 $35243758

Membership Dues

Forum of Firms

External Funding


Other Revenues

1

57

53

35



1

Expenses 2020 2019

Employee Costs $19662568 $18928688





IT Support 766823 707914


Total Expenses $30739471 $34076231

Employee Costs





IT Support

Other Expenses

2

64

21

44

3








APPENDICES



APPENDICES

Financial Position










Total Expenses $30739471 $34076231






58

9

14

10

10





At end of year $14156804 $10542491



APPENDICES

OUR GLOBAL NETWORK


Albania



Argentina


Australia


bull CPA Australia


Austria



bull Azerbaijan


Bahamas


Bangladesh



Barbados


Belgium



Bolivia





Botswana


Brazil



Bulgaria


Cameroon


Canada


Cayman Islands


Chile


China


Chinese Taiwan


Colombia


Costa Rica


Cyprus


Czech Republic


Denmark


Dominican Republic


Egypt


El Salvador


Estonia


eSwatini



Fiji


Finland


France



Georgia


Germany



Ghana


Greece


Guatemala


Guyana


Haiti


Honduras




Hungary


Iceland


India



Indonesia





Iraq


Ireland



Israel


Italy


Ivory Coast


Jamaica


Japan


Jordan



Kazakhstan


Kenya


Korea Republic of


Kosovo


Kuwait


Latvia



Lebanon


Lesotho


Liberia


APPENDICES


Lithuania


Luxembourg


Madagascar


Malawi


Malaysia



Malta


Mauritius


Mexico


Moldova Republic of


Mongolia


Montenegro


Morocco


Namibia


Nepal


Netherlands



New Zealand


Nicaragua


Nigeria



North Macedonia


Norway


Pakistan




Panama


Papua New Guinea


Paraguay


Peru


Philippines


Poland



Portugal



Romania



Rwanda


Saudi Arabia



APPENDICES



Senegal


Serbia Republic of


Sierra Leone


Singapore


Slovakia


Slovenia


South Africa



Spain


Sri Lanka




Sweden

bull FAR

Switzerland




Thailand


Trinidad and Tobago


Tunisia


Turkey



Uganda


Ukraine


United Kingdom











Uruguay


Vietnam


Zambia


Zimbabwe


APPENDICES


APPENDICES


Armenia


Benin


Brunei Darussalam


Burkina Faso


Cambodia


Croatia


Ecuador


Guatemala


Honduras


Indonesia


Ireland


Kazakhstan


Kyrgyz Republic


Lao PDR


Lithuania


Luxembourg


Montenegro


Mozambique


Myanmar


Palestine


Accountants

Russian Federation



Serbia Republic of


Suriname


Togo


Uzbekistan



Vietnam


Zimbabwe




APPENDICES


Netherlands


United Kingdom


























APPENDICES

OUR VOLUNTEERS





















Joy Thomas (Canada)















APPENDICES


Audit Committee




Shinji Someha Japan











Joan Curry Ireland

















Joy Thomas Canada









Jan Begg Australia








Jean Bouquot France






Jianhua Tang China




Guy Andrade Brazil



Angela Peasah Ghana


Aiko Sekine Japan


APPENDICES






Fabio Costa Brazil
















Zhijian Song China

Kim Watty Australia

Irene Wiecek Canada


















Daping Gao China











Ichiro Waki Japan
















Michael Mbaya Kenya

John Nagy Canada





Dequan Yin China


APPENDICES









Stewart Dunne BDO












Chris Smith BDO






Jeremy Howarth











ISBN 978-1-60815-439-5

Published by


IFAC

IFAC



OVERALL PERFORMANCE

















IFACrsquoS MISSION


Page 1 of 30

November 2020



IFAC STRATEGIC PLAN

November 2019


November 2019


SELECT ACHIEVEMENTS

Human Capital








Financial Capital



Technology
































Forum of Firms 12025437 12434676




Total Revenue $34585237 $35243758

Membership Dues

Forum of Firms

External Funding


Other Revenues

1

57

53

35



1

Expenses 2020 2019

Employee Costs $19662568 $18928688





IT Support 766823 707914


Total Expenses $30739471 $34076231

Employee Costs





IT Support

Other Expenses

2

64

21

44

3








APPENDICES



APPENDICES

Financial Position










Total Expenses $30739471 $34076231






58

9

14

10

10





At end of year $14156804 $10542491



APPENDICES

OUR GLOBAL NETWORK


Albania



Argentina


Australia


bull CPA Australia


Austria



bull Azerbaijan


Bahamas


Bangladesh



Barbados


Belgium



Bolivia





Botswana


Brazil



Bulgaria


Cameroon


Canada


Cayman Islands


Chile


China


Chinese Taiwan


Colombia


Costa Rica


Cyprus


Czech Republic


Denmark


Dominican Republic


Egypt


El Salvador


Estonia


eSwatini



Fiji


Finland


France



Georgia


Germany



Ghana


Greece


Guatemala


Guyana


Haiti


Honduras




Hungary


Iceland


India



Indonesia





Iraq


Ireland



Israel


Italy


Ivory Coast


Jamaica


Japan


Jordan



Kazakhstan


Kenya


Korea Republic of


Kosovo


Kuwait


Latvia



Lebanon


Lesotho


Liberia


APPENDICES


Lithuania


Luxembourg


Madagascar


Malawi


Malaysia



Malta


Mauritius


Mexico


Moldova Republic of


Mongolia


Montenegro


Morocco


Namibia


Nepal


Netherlands



New Zealand


Nicaragua


Nigeria



North Macedonia


Norway


Pakistan




Panama


Papua New Guinea


Paraguay


Peru


Philippines


Poland



Portugal



Romania



Rwanda


Saudi Arabia



APPENDICES



Senegal


Serbia Republic of


Sierra Leone


Singapore


Slovakia


Slovenia


South Africa



Spain


Sri Lanka




Sweden

bull FAR

Switzerland




Thailand


Trinidad and Tobago


Tunisia


Turkey



Uganda


Ukraine


United Kingdom











Uruguay


Vietnam


Zambia


Zimbabwe


APPENDICES


APPENDICES


Armenia


Benin


Brunei Darussalam


Burkina Faso


Cambodia


Croatia


Ecuador


Guatemala


Honduras


Indonesia


Ireland


Kazakhstan


Kyrgyz Republic


Lao PDR


Lithuania


Luxembourg


Montenegro


Mozambique


Myanmar


Palestine


Accountants

Russian Federation



Serbia Republic of


Suriname


Togo


Uzbekistan



Vietnam


Zimbabwe




APPENDICES


Netherlands


United Kingdom


























APPENDICES

OUR VOLUNTEERS





















Joy Thomas (Canada)















APPENDICES


Audit Committee




Shinji Someha Japan











Joan Curry Ireland

















Joy Thomas Canada









Jan Begg Australia








Jean Bouquot France






Jianhua Tang China




Guy Andrade Brazil



Angela Peasah Ghana


Aiko Sekine Japan


APPENDICES






Fabio Costa Brazil
















Zhijian Song China

Kim Watty Australia

Irene Wiecek Canada


















Daping Gao China











Ichiro Waki Japan
















Michael Mbaya Kenya

John Nagy Canada





Dequan Yin China


APPENDICES









Stewart Dunne BDO












Chris Smith BDO






Jeremy Howarth











ISBN 978-1-60815-439-5

Published by


IFAC

IFAC



SELECT ACHIEVEMENTS

Human Capital








Financial Capital



Technology
































Forum of Firms 12025437 12434676




Total Revenue $34585237 $35243758

Membership Dues

Forum of Firms

External Funding


Other Revenues

1

57

53

35



1

Expenses 2020 2019

Employee Costs $19662568 $18928688





IT Support 766823 707914


Total Expenses $30739471 $34076231

Employee Costs





IT Support

Other Expenses

2

64

21

44

3








APPENDICES



APPENDICES

Financial Position










Total Expenses $30739471 $34076231






58

9

14

10

10





At end of year $14156804 $10542491



APPENDICES

OUR GLOBAL NETWORK


Albania



Argentina


Australia


bull CPA Australia


Austria



bull Azerbaijan


Bahamas


Bangladesh



Barbados


Belgium



Bolivia





Botswana


Brazil



Bulgaria


Cameroon


Canada


Cayman Islands


Chile


China


Chinese Taiwan


Colombia


Costa Rica


Cyprus


Czech Republic


Denmark


Dominican Republic


Egypt


El Salvador


Estonia


eSwatini



Fiji


Finland


France



Georgia


Germany



Ghana


Greece


Guatemala


Guyana


Haiti


Honduras




Hungary


Iceland


India



Indonesia





Iraq


Ireland



Israel


Italy


Ivory Coast


Jamaica


Japan


Jordan



Kazakhstan


Kenya


Korea Republic of


Kosovo


Kuwait


Latvia



Lebanon


Lesotho


Liberia


APPENDICES


Lithuania


Luxembourg


Madagascar


Malawi


Malaysia



Malta


Mauritius


Mexico


Moldova Republic of


Mongolia


Montenegro


Morocco


Namibia


Nepal


Netherlands



New Zealand


Nicaragua


Nigeria



North Macedonia


Norway


Pakistan




Panama


Papua New Guinea


Paraguay


Peru


Philippines


Poland



Portugal



Romania



Rwanda


Saudi Arabia



APPENDICES



Senegal


Serbia Republic of


Sierra Leone


Singapore


Slovakia


Slovenia


South Africa



Spain


Sri Lanka




Sweden

bull FAR

Switzerland




Thailand


Trinidad and Tobago


Tunisia


Turkey



Uganda


Ukraine


United Kingdom











Uruguay


Vietnam


Zambia


Zimbabwe


APPENDICES


APPENDICES


Armenia


Benin


Brunei Darussalam


Burkina Faso


Cambodia


Croatia


Ecuador


Guatemala


Honduras


Indonesia


Ireland


Kazakhstan


Kyrgyz Republic


Lao PDR


Lithuania


Luxembourg


Montenegro


Mozambique


Myanmar


Palestine


Accountants

Russian Federation



Serbia Republic of


Suriname


Togo


Uzbekistan



Vietnam


Zimbabwe




APPENDICES


Netherlands


United Kingdom


























APPENDICES

OUR VOLUNTEERS





















Joy Thomas (Canada)















APPENDICES


Audit Committee




Shinji Someha Japan











Joan Curry Ireland

















Joy Thomas Canada









Jan Begg Australia








Jean Bouquot France






Jianhua Tang China




Guy Andrade Brazil



Angela Peasah Ghana


Aiko Sekine Japan


APPENDICES






Fabio Costa Brazil
















Zhijian Song China

Kim Watty Australia

Irene Wiecek Canada


















Daping Gao China











Ichiro Waki Japan
















Michael Mbaya Kenya

John Nagy Canada





Dequan Yin China


APPENDICES









Stewart Dunne BDO












Chris Smith BDO






Jeremy Howarth











ISBN 978-1-60815-439-5

Published by


IFAC

IFAC























Forum of Firms 12025437 12434676




Total Revenue $34585237 $35243758

Membership Dues

Forum of Firms

External Funding


Other Revenues

1

57

53

35



1

Expenses 2020 2019

Employee Costs $19662568 $18928688





IT Support 766823 707914


Total Expenses $30739471 $34076231

Employee Costs





IT Support

Other Expenses

2

64

21

44

3








APPENDICES



APPENDICES

Financial Position










Total Expenses $30739471 $34076231






58

9

14

10

10





At end of year $14156804 $10542491



APPENDICES

OUR GLOBAL NETWORK


Albania



Argentina


Australia


bull CPA Australia


Austria



bull Azerbaijan


Bahamas


Bangladesh



Barbados


Belgium



Bolivia





Botswana


Brazil



Bulgaria


Cameroon


Canada


Cayman Islands


Chile


China


Chinese Taiwan


Colombia


Costa Rica


Cyprus


Czech Republic


Denmark


Dominican Republic


Egypt


El Salvador


Estonia


eSwatini



Fiji


Finland


France



Georgia


Germany



Ghana


Greece


Guatemala


Guyana


Haiti


Honduras




Hungary


Iceland


India



Indonesia





Iraq


Ireland



Israel


Italy


Ivory Coast


Jamaica


Japan


Jordan



Kazakhstan


Kenya


Korea Republic of


Kosovo


Kuwait


Latvia



Lebanon


Lesotho


Liberia


APPENDICES


Lithuania


Luxembourg


Madagascar


Malawi


Malaysia



Malta


Mauritius


Mexico


Moldova Republic of


Mongolia


Montenegro


Morocco


Namibia


Nepal


Netherlands



New Zealand


Nicaragua


Nigeria



North Macedonia


Norway


Pakistan




Panama


Papua New Guinea


Paraguay


Peru


Philippines


Poland



Portugal



Romania



Rwanda


Saudi Arabia



APPENDICES



Senegal


Serbia Republic of


Sierra Leone


Singapore


Slovakia


Slovenia


South Africa



Spain


Sri Lanka




Sweden

bull FAR

Switzerland




Thailand


Trinidad and Tobago


Tunisia


Turkey



Uganda


Ukraine


United Kingdom











Uruguay


Vietnam


Zambia


Zimbabwe


APPENDICES


APPENDICES


Armenia


Benin


Brunei Darussalam


Burkina Faso


Cambodia


Croatia


Ecuador


Guatemala


Honduras


Indonesia


Ireland


Kazakhstan


Kyrgyz Republic


Lao PDR


Lithuania


Luxembourg


Montenegro


Mozambique


Myanmar


Palestine


Accountants

Russian Federation



Serbia Republic of


Suriname


Togo


Uzbekistan



Vietnam


Zimbabwe




APPENDICES


Netherlands


United Kingdom


























APPENDICES

OUR VOLUNTEERS





















Joy Thomas (Canada)















APPENDICES


Audit Committee




Shinji Someha Japan











Joan Curry Ireland

















Joy Thomas Canada









Jan Begg Australia








Jean Bouquot France






Jianhua Tang China




Guy Andrade Brazil



Angela Peasah Ghana


Aiko Sekine Japan


APPENDICES






Fabio Costa Brazil
















Zhijian Song China

Kim Watty Australia

Irene Wiecek Canada


















Daping Gao China











Ichiro Waki Japan
















Michael Mbaya Kenya

John Nagy Canada





Dequan Yin China


APPENDICES









Stewart Dunne BDO












Chris Smith BDO






Jeremy Howarth











ISBN 978-1-60815-439-5

Published by


IFAC

IFAC



1

Expenses 2020 2019

Employee Costs $19662568 $18928688





IT Support 766823 707914


Total Expenses $30739471 $34076231

Employee Costs





IT Support

Other Expenses

2

64

21

44

3








APPENDICES



APPENDICES

Financial Position










Total Expenses $30739471 $34076231






58

9

14

10

10





At end of year $14156804 $10542491



APPENDICES

OUR GLOBAL NETWORK


Albania



Argentina


Australia


bull CPA Australia


Austria



bull Azerbaijan


Bahamas


Bangladesh



Barbados


Belgium



Bolivia





Botswana


Brazil



Bulgaria


Cameroon


Canada


Cayman Islands


Chile


China


Chinese Taiwan


Colombia


Costa Rica


Cyprus


Czech Republic


Denmark


Dominican Republic


Egypt


El Salvador


Estonia


eSwatini



Fiji


Finland


France



Georgia


Germany



Ghana


Greece


Guatemala


Guyana


Haiti


Honduras




Hungary


Iceland


India



Indonesia





Iraq


Ireland



Israel


Italy


Ivory Coast


Jamaica


Japan


Jordan



Kazakhstan


Kenya


Korea Republic of


Kosovo


Kuwait


Latvia



Lebanon


Lesotho


Liberia


APPENDICES


Lithuania


Luxembourg


Madagascar


Malawi


Malaysia



Malta


Mauritius


Mexico


Moldova Republic of


Mongolia


Montenegro


Morocco


Namibia


Nepal


Netherlands



New Zealand


Nicaragua


Nigeria



North Macedonia


Norway


Pakistan




Panama


Papua New Guinea


Paraguay


Peru


Philippines


Poland



Portugal



Romania



Rwanda


Saudi Arabia



APPENDICES



Senegal


Serbia Republic of


Sierra Leone


Singapore


Slovakia


Slovenia


South Africa



Spain


Sri Lanka




Sweden

bull FAR

Switzerland




Thailand


Trinidad and Tobago


Tunisia


Turkey



Uganda


Ukraine


United Kingdom











Uruguay


Vietnam


Zambia


Zimbabwe


APPENDICES


APPENDICES


Armenia


Benin


Brunei Darussalam


Burkina Faso


Cambodia


Croatia


Ecuador


Guatemala


Honduras


Indonesia


Ireland


Kazakhstan


Kyrgyz Republic


Lao PDR


Lithuania


Luxembourg


Montenegro


Mozambique


Myanmar


Palestine


Accountants

Russian Federation



Serbia Republic of


Suriname


Togo


Uzbekistan



Vietnam


Zimbabwe




APPENDICES


Netherlands


United Kingdom


























APPENDICES

OUR VOLUNTEERS





















Joy Thomas (Canada)















APPENDICES


Audit Committee




Shinji Someha Japan











Joan Curry Ireland

















Joy Thomas Canada









Jan Begg Australia








Jean Bouquot France






Jianhua Tang China




Guy Andrade Brazil



Angela Peasah Ghana


Aiko Sekine Japan


APPENDICES






Fabio Costa Brazil
















Zhijian Song China

Kim Watty Australia

Irene Wiecek Canada


















Daping Gao China











Ichiro Waki Japan
















Michael Mbaya Kenya

John Nagy Canada





Dequan Yin China


APPENDICES









Stewart Dunne BDO












Chris Smith BDO






Jeremy Howarth











ISBN 978-1-60815-439-5

Published by


IFAC

IFAC



APPENDICES

Financial Position










Total Expenses $30739471 $34076231






58

9

14

10

10





At end of year $14156804 $10542491



APPENDICES

OUR GLOBAL NETWORK


Albania



Argentina


Australia


bull CPA Australia


Austria



bull Azerbaijan


Bahamas


Bangladesh



Barbados


Belgium



Bolivia





Botswana


Brazil



Bulgaria


Cameroon


Canada


Cayman Islands


Chile


China


Chinese Taiwan


Colombia


Costa Rica


Cyprus


Czech Republic


Denmark


Dominican Republic


Egypt


El Salvador


Estonia


eSwatini



Fiji


Finland


France



Georgia


Germany



Ghana


Greece


Guatemala


Guyana


Haiti


Honduras




Hungary


Iceland


India



Indonesia





Iraq


Ireland



Israel


Italy


Ivory Coast


Jamaica


Japan


Jordan



Kazakhstan


Kenya


Korea Republic of


Kosovo


Kuwait


Latvia



Lebanon


Lesotho


Liberia


APPENDICES


Lithuania


Luxembourg


Madagascar


Malawi


Malaysia



Malta


Mauritius


Mexico


Moldova Republic of


Mongolia


Montenegro


Morocco


Namibia


Nepal


Netherlands



New Zealand


Nicaragua


Nigeria



North Macedonia


Norway


Pakistan




Panama


Papua New Guinea


Paraguay


Peru


Philippines


Poland



Portugal



Romania



Rwanda


Saudi Arabia



APPENDICES



Senegal


Serbia Republic of


Sierra Leone


Singapore


Slovakia


Slovenia


South Africa



Spain


Sri Lanka




Sweden

bull FAR

Switzerland




Thailand


Trinidad and Tobago


Tunisia


Turkey



Uganda


Ukraine


United Kingdom











Uruguay


Vietnam


Zambia


Zimbabwe


APPENDICES


APPENDICES


Armenia


Benin


Brunei Darussalam


Burkina Faso


Cambodia


Croatia


Ecuador


Guatemala


Honduras


Indonesia


Ireland


Kazakhstan


Kyrgyz Republic


Lao PDR


Lithuania


Luxembourg


Montenegro


Mozambique


Myanmar


Palestine


Accountants

Russian Federation



Serbia Republic of


Suriname


Togo


Uzbekistan



Vietnam


Zimbabwe




APPENDICES


Netherlands


United Kingdom


























APPENDICES

OUR VOLUNTEERS





















Joy Thomas (Canada)















APPENDICES


Audit Committee




Shinji Someha Japan











Joan Curry Ireland

















Joy Thomas Canada









Jan Begg Australia








Jean Bouquot France






Jianhua Tang China




Guy Andrade Brazil



Angela Peasah Ghana


Aiko Sekine Japan


APPENDICES






Fabio Costa Brazil
















Zhijian Song China

Kim Watty Australia

Irene Wiecek Canada


















Daping Gao China











Ichiro Waki Japan
















Michael Mbaya Kenya

John Nagy Canada





Dequan Yin China


APPENDICES









Stewart Dunne BDO












Chris Smith BDO






Jeremy Howarth











ISBN 978-1-60815-439-5

Published by


IFAC

IFAC



APPENDICES

OUR GLOBAL NETWORK


Albania



Argentina


Australia


bull CPA Australia


Austria



bull Azerbaijan


Bahamas


Bangladesh



Barbados


Belgium



Bolivia





Botswana


Brazil



Bulgaria


Cameroon


Canada


Cayman Islands


Chile


China


Chinese Taiwan


Colombia


Costa Rica


Cyprus


Czech Republic


Denmark


Dominican Republic


Egypt


El Salvador


Estonia


eSwatini



Fiji


Finland


France



Georgia


Germany



Ghana


Greece


Guatemala


Guyana


Haiti


Honduras




Hungary


Iceland


India



Indonesia





Iraq


Ireland



Israel


Italy


Ivory Coast


Jamaica


Japan


Jordan



Kazakhstan


Kenya


Korea Republic of


Kosovo


Kuwait


Latvia



Lebanon


Lesotho


Liberia


APPENDICES


Lithuania


Luxembourg


Madagascar


Malawi


Malaysia



Malta


Mauritius


Mexico


Moldova Republic of


Mongolia


Montenegro


Morocco


Namibia


Nepal


Netherlands



New Zealand


Nicaragua


Nigeria



North Macedonia


Norway


Pakistan




Panama


Papua New Guinea


Paraguay


Peru


Philippines


Poland



Portugal



Romania



Rwanda


Saudi Arabia



APPENDICES



Senegal


Serbia Republic of


Sierra Leone


Singapore


Slovakia


Slovenia


South Africa



Spain


Sri Lanka




Sweden

bull FAR

Switzerland




Thailand


Trinidad and Tobago


Tunisia


Turkey



Uganda


Ukraine


United Kingdom











Uruguay


Vietnam


Zambia


Zimbabwe


APPENDICES


APPENDICES


Armenia


Benin


Brunei Darussalam


Burkina Faso


Cambodia


Croatia


Ecuador


Guatemala


Honduras


Indonesia


Ireland


Kazakhstan


Kyrgyz Republic


Lao PDR


Lithuania


Luxembourg


Montenegro


Mozambique


Myanmar


Palestine


Accountants

Russian Federation



Serbia Republic of


Suriname


Togo


Uzbekistan



Vietnam


Zimbabwe




APPENDICES


Netherlands


United Kingdom


























APPENDICES

OUR VOLUNTEERS





















Joy Thomas (Canada)















APPENDICES


Audit Committee




Shinji Someha Japan











Joan Curry Ireland

















Joy Thomas Canada









Jan Begg Australia








Jean Bouquot France






Jianhua Tang China




Guy Andrade Brazil



Angela Peasah Ghana


Aiko Sekine Japan


APPENDICES






Fabio Costa Brazil
















Zhijian Song China

Kim Watty Australia

Irene Wiecek Canada


















Daping Gao China











Ichiro Waki Japan
















Michael Mbaya Kenya

John Nagy Canada





Dequan Yin China


APPENDICES









Stewart Dunne BDO












Chris Smith BDO






Jeremy Howarth











ISBN 978-1-60815-439-5

Published by


IFAC

IFAC



Fiji


Finland


France



Georgia


Germany



Ghana


Greece


Guatemala


Guyana


Haiti


Honduras




Hungary


Iceland


India



Indonesia





Iraq


Ireland



Israel


Italy


Ivory Coast


Jamaica


Japan


Jordan



Kazakhstan


Kenya


Korea Republic of


Kosovo


Kuwait


Latvia



Lebanon


Lesotho


Liberia


APPENDICES


Lithuania


Luxembourg


Madagascar


Malawi


Malaysia



Malta


Mauritius


Mexico


Moldova Republic of


Mongolia


Montenegro


Morocco


Namibia


Nepal


Netherlands



New Zealand


Nicaragua


Nigeria



North Macedonia


Norway


Pakistan




Panama


Papua New Guinea


Paraguay


Peru


Philippines


Poland



Portugal



Romania



Rwanda


Saudi Arabia



APPENDICES



Senegal


Serbia Republic of


Sierra Leone


Singapore


Slovakia


Slovenia


South Africa



Spain


Sri Lanka




Sweden

bull FAR

Switzerland




Thailand


Trinidad and Tobago


Tunisia


Turkey



Uganda


Ukraine


United Kingdom











Uruguay


Vietnam


Zambia


Zimbabwe


APPENDICES


APPENDICES


Armenia


Benin


Brunei Darussalam


Burkina Faso


Cambodia


Croatia


Ecuador


Guatemala


Honduras


Indonesia


Ireland


Kazakhstan


Kyrgyz Republic


Lao PDR


Lithuania


Luxembourg


Montenegro


Mozambique


Myanmar


Palestine


Accountants

Russian Federation



Serbia Republic of


Suriname


Togo


Uzbekistan



Vietnam


Zimbabwe




APPENDICES


Netherlands


United Kingdom


























APPENDICES

OUR VOLUNTEERS





















Joy Thomas (Canada)















APPENDICES


Audit Committee




Shinji Someha Japan











Joan Curry Ireland

















Joy Thomas Canada









Jan Begg Australia








Jean Bouquot France






Jianhua Tang China




Guy Andrade Brazil



Angela Peasah Ghana


Aiko Sekine Japan


APPENDICES






Fabio Costa Brazil
















Zhijian Song China

Kim Watty Australia

Irene Wiecek Canada


















Daping Gao China











Ichiro Waki Japan
















Michael Mbaya Kenya

John Nagy Canada





Dequan Yin China


APPENDICES









Stewart Dunne BDO












Chris Smith BDO






Jeremy Howarth











ISBN 978-1-60815-439-5

Published by


IFAC

IFAC



Lithuania


Luxembourg


Madagascar


Malawi


Malaysia



Malta


Mauritius


Mexico


Moldova Republic of


Mongolia


Montenegro


Morocco


Namibia


Nepal


Netherlands



New Zealand


Nicaragua


Nigeria



North Macedonia


Norway


Pakistan




Panama


Papua New Guinea


Paraguay


Peru


Philippines


Poland



Portugal



Romania



Rwanda


Saudi Arabia



APPENDICES



Senegal


Serbia Republic of


Sierra Leone


Singapore


Slovakia


Slovenia


South Africa



Spain


Sri Lanka




Sweden

bull FAR

Switzerland




Thailand


Trinidad and Tobago


Tunisia


Turkey



Uganda


Ukraine


United Kingdom











Uruguay


Vietnam


Zambia


Zimbabwe


APPENDICES


APPENDICES


Armenia


Benin


Brunei Darussalam


Burkina Faso


Cambodia


Croatia


Ecuador


Guatemala


Honduras


Indonesia


Ireland


Kazakhstan


Kyrgyz Republic


Lao PDR


Lithuania


Luxembourg


Montenegro


Mozambique


Myanmar


Palestine


Accountants

Russian Federation



Serbia Republic of


Suriname


Togo


Uzbekistan



Vietnam


Zimbabwe




APPENDICES


Netherlands


United Kingdom


























APPENDICES

OUR VOLUNTEERS





















Joy Thomas (Canada)















APPENDICES


Audit Committee




Shinji Someha Japan











Joan Curry Ireland

















Joy Thomas Canada









Jan Begg Australia








Jean Bouquot France






Jianhua Tang China




Guy Andrade Brazil



Angela Peasah Ghana


Aiko Sekine Japan


APPENDICES






Fabio Costa Brazil
















Zhijian Song China

Kim Watty Australia

Irene Wiecek Canada


















Daping Gao China











Ichiro Waki Japan
















Michael Mbaya Kenya

John Nagy Canada





Dequan Yin China


APPENDICES









Stewart Dunne BDO












Chris Smith BDO






Jeremy Howarth











ISBN 978-1-60815-439-5

Published by


IFAC

IFAC



Senegal


Serbia Republic of


Sierra Leone


Singapore


Slovakia


Slovenia


South Africa



Spain


Sri Lanka




Sweden

bull FAR

Switzerland




Thailand


Trinidad and Tobago


Tunisia


Turkey



Uganda


Ukraine


United Kingdom











Uruguay


Vietnam


Zambia


Zimbabwe


APPENDICES


APPENDICES


Armenia


Benin


Brunei Darussalam


Burkina Faso


Cambodia


Croatia


Ecuador


Guatemala


Honduras


Indonesia


Ireland


Kazakhstan


Kyrgyz Republic


Lao PDR


Lithuania


Luxembourg


Montenegro


Mozambique


Myanmar


Palestine


Accountants

Russian Federation



Serbia Republic of


Suriname


Togo


Uzbekistan



Vietnam


Zimbabwe




APPENDICES


Netherlands


United Kingdom


























APPENDICES

OUR VOLUNTEERS





















Joy Thomas (Canada)















APPENDICES


Audit Committee




Shinji Someha Japan











Joan Curry Ireland

















Joy Thomas Canada









Jan Begg Australia








Jean Bouquot France






Jianhua Tang China




Guy Andrade Brazil



Angela Peasah Ghana


Aiko Sekine Japan


APPENDICES






Fabio Costa Brazil
















Zhijian Song China

Kim Watty Australia

Irene Wiecek Canada


















Daping Gao China











Ichiro Waki Japan
















Michael Mbaya Kenya

John Nagy Canada





Dequan Yin China


APPENDICES









Stewart Dunne BDO












Chris Smith BDO






Jeremy Howarth











ISBN 978-1-60815-439-5

Published by


IFAC

IFAC



APPENDICES


Armenia


Benin


Brunei Darussalam


Burkina Faso


Cambodia


Croatia


Ecuador


Guatemala


Honduras


Indonesia


Ireland


Kazakhstan


Kyrgyz Republic


Lao PDR


Lithuania


Luxembourg


Montenegro


Mozambique


Myanmar


Palestine


Accountants

Russian Federation



Serbia Republic of


Suriname


Togo


Uzbekistan



Vietnam


Zimbabwe




APPENDICES


Netherlands


United Kingdom


























APPENDICES

OUR VOLUNTEERS





















Joy Thomas (Canada)















APPENDICES


Audit Committee




Shinji Someha Japan











Joan Curry Ireland

















Joy Thomas Canada









Jan Begg Australia








Jean Bouquot France






Jianhua Tang China




Guy Andrade Brazil



Angela Peasah Ghana


Aiko Sekine Japan


APPENDICES






Fabio Costa Brazil
















Zhijian Song China

Kim Watty Australia

Irene Wiecek Canada


















Daping Gao China











Ichiro Waki Japan
















Michael Mbaya Kenya

John Nagy Canada





Dequan Yin China


APPENDICES









Stewart Dunne BDO












Chris Smith BDO






Jeremy Howarth











ISBN 978-1-60815-439-5

Published by


IFAC

IFAC



APPENDICES


Netherlands


United Kingdom


























APPENDICES

OUR VOLUNTEERS





















Joy Thomas (Canada)















APPENDICES


Audit Committee




Shinji Someha Japan











Joan Curry Ireland

















Joy Thomas Canada









Jan Begg Australia








Jean Bouquot France






Jianhua Tang China




Guy Andrade Brazil



Angela Peasah Ghana


Aiko Sekine Japan


APPENDICES






Fabio Costa Brazil
















Zhijian Song China

Kim Watty Australia

Irene Wiecek Canada


















Daping Gao China











Ichiro Waki Japan
















Michael Mbaya Kenya

John Nagy Canada





Dequan Yin China


APPENDICES









Stewart Dunne BDO












Chris Smith BDO






Jeremy Howarth











ISBN 978-1-60815-439-5

Published by


IFAC

IFAC



APPENDICES

OUR VOLUNTEERS





















Joy Thomas (Canada)















APPENDICES


Audit Committee




Shinji Someha Japan











Joan Curry Ireland

















Joy Thomas Canada









Jan Begg Australia








Jean Bouquot France






Jianhua Tang China




Guy Andrade Brazil



Angela Peasah Ghana


Aiko Sekine Japan


APPENDICES






Fabio Costa Brazil
















Zhijian Song China

Kim Watty Australia

Irene Wiecek Canada


















Daping Gao China











Ichiro Waki Japan
















Michael Mbaya Kenya

John Nagy Canada





Dequan Yin China


APPENDICES









Stewart Dunne BDO












Chris Smith BDO






Jeremy Howarth











ISBN 978-1-60815-439-5

Published by


IFAC

IFAC



APPENDICES


Audit Committee




Shinji Someha Japan











Joan Curry Ireland

















Joy Thomas Canada









Jan Begg Australia








Jean Bouquot France






Jianhua Tang China




Guy Andrade Brazil



Angela Peasah Ghana


Aiko Sekine Japan


APPENDICES






Fabio Costa Brazil
















Zhijian Song China

Kim Watty Australia

Irene Wiecek Canada


















Daping Gao China











Ichiro Waki Japan
















Michael Mbaya Kenya

John Nagy Canada





Dequan Yin China


APPENDICES









Stewart Dunne BDO












Chris Smith BDO






Jeremy Howarth











ISBN 978-1-60815-439-5

Published by


IFAC

IFAC



APPENDICES






Fabio Costa Brazil
















Zhijian Song China

Kim Watty Australia

Irene Wiecek Canada


















Daping Gao China











Ichiro Waki Japan
















Michael Mbaya Kenya

John Nagy Canada





Dequan Yin China


APPENDICES









Stewart Dunne BDO












Chris Smith BDO






Jeremy Howarth











ISBN 978-1-60815-439-5

Published by


IFAC

IFAC



APPENDICES









Stewart Dunne BDO












Chris Smith BDO






Jeremy Howarth











ISBN 978-1-60815-439-5

Published by


IFAC

IFAC












ISBN 978-1-60815-439-5

Published by


IFAC

IFAC


2020 ifac integrated annual review · 2021. 7. 28. · 2020 ifac integrated annual review | 5 “in...

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