NEW YORK-The International Federation of Accountants (IFAC) released on December 4, 2007 a paper entitled “Regulation of the Accountancy Profession”. The paper outlines various types of regulatory models and how they can be implemented and discusses the roles of professional accountancy bodies and governments.
Commenting on the paper IFAC President Fermín del Valle stated, “Professional accountancy bodies and governments share a common objective of ensuring that professional accountants serve the public interest and meet high standards in the quality of services they provide. It is, therefore, important for professional accountancy bodies and governments to work together to ensure that regulation is both effective and efficient.”
IFAC is the worldwide organization for the accountancy profession dedicated to serve the public interest by strengthening the profession and contributing to the development of strong international economies.
For more information please visit the following website: www.ifac.org.