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Forum Of Firms
The Forum of Firms (FOF, Forum) is an association of international networks of accounting firms that perform transnational audits. The objective of the Forum is to promote consistent and high-quality standards of financial reporting and auditing practices worldwide. The Forum brings together firms that perform transnational audits and involves them more closely with the activities of the International Federation of Accountants (IFAC) in audit and other assurance-related areas. It was established in 2002. Theo Vermaak is the chair of the Forum The Transnational Auditors Committee (TAC) is a committee of IFAC and the executive arm of the Forum, and, therefore, provides the official linkage between the Forum and IFAC. The Transnational Auditors Committee is chaired by Wally Gregory. Membership obligations Members of the Forum have committed to adhere to and promote the consistent application of high-quality audit practices worldwide, as detailed in the FOF Constitution. Membership ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Standards On Auditing
International Standards on Auditing (ISA) are professional standards for the auditing of financial information. These standards are issued by the International Auditing and Assurance Standards Board (IAASB). According to Olung M (CAO - L), ISA guides the auditor to add value to the assignment hence building confidence of investors. The standards cover various areas of auditing, including respective responsibilities, audit planning, Internal Control, audit evidence, using the work of other experts, audit conclusions and audit reports, and standards for specialized areas. Use of the ISAs * European Union: The Audit Directive of 17 May 2006 enforces the use of the ''International Standards on Auditing'' for all Statutory audits to be performed in the European Union. The Audit Directive of 17 May 2006 is important in order to ensure a high quality for all statutory audits required by Community law requiring all statutory audits be carried out on the basis of all international audi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |