International Forum of Independent Audit Regulators

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International Forum of Independent Audit Regulators
FormationSeptember 2006
TypeInternational organization
Legal statusGeneral Incorporated Association
HeadquartersTokyo, Japan
Membership
54 jurisdictions
Chair
Takashi Nagaoka (Secretary General of CPAAOB and Deputy Commissioner for International Affairs at JFSA)Duane
Vice Chair
Kevin Prendergast (Chief Executive of the IAASA of Ireland)
Executive Director
Carl Renner
Website https://www.ifiar.org/

The International Forum of Independent Audit Regulators (IFIAR) is a global member organization comprising independent audit regulators from 54 jurisdictions. [1]

Contents

IFIAR was established in Paris in 2006. [1] Its members are audit regulators and supervisors from the continents of Africa, Asia, Europe, North and South America and Oceania.

Activities

IFIAR holds a Plenary meeting annually to discuss broad issues related to audit quality matters.

There are five formal Working Groups that meet regularly throughout the year and submit their deliverables to the Plenary meeting:

  1. Enforcement Working Group: chaired by Elizabeth Barrett, FRC, United Kingdom
  2. Global Audit Quality Working Group: chaired by William Di Cicco, H3C, France
  3. Investor and Other Stakeholder Working Group: chaired by Peter Hofbauer, APAB, Austria
  4. Inspection Workshops Working Group: chaired by Askin Akbulut, AOB, Germany
  5. Standards Coordination Working Group: chaired by Martijn Duffels, AFM, The Netherlands

Inspection Findings Survey

Since 2012, IFIAR conducts Annual Inspection Findings Survey and publishes its report. [2] These reports show general trends of audit inspection findings.

Membership

As of April 2022, IFIAR has 54 members. IFIAR members are divided into two categories:

As of April 2022, all IFIAR members are ordinary members and have voting rights.

Multilateral Memorandum of Understanding

IFIAR Members approved the MMOU concerning co-operation in the exchange of information for audit oversight on June 30, 2015. Currently, 22 members signed the MMOU. [3]

IFIAR Board

The IFIAR Board was established in April 2017. Current Board Members are Australia, [4] Brazil, [5] Canada, [6] Chinese Taipei, [7] France, [8] Germany, [9] Greece, [10] Ireland, [11] Japan, [12] [13] the Netherlands, [14] Singapore, [15] South Africa, [16] Switzerland [17] ,Turkey, [18] [19] the United Kingdom [20] and the United States. [21] As of April 2022

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References

  1. 1 2 "IFIAR website". IFIAR website. Retrieved 7 January 2019.
  2. ↑ IFIAR Annual Inspection Findings Survey
  3. ↑ IFIAR MMOU list of signatories
  4. ↑ Australian Securities & Investments Commission (ASIC)
  5. ↑ Securities and Exchange Commission of Brazil (CVM)
  6. ↑ Canadian Public Accountability Board (CPAB)
  7. ↑ Financial Supervisory Commission (FSC)
  8. ↑ High Council for Statutory Audit(H3C)
  9. ↑ Auditor Oversight Body (AOB)
  10. ↑ Hellenic Accounting and Auditing Standards Oversight Board (HAASOB)
  11. ↑ Irish Auditing & Accounting Supervisory Authority (IAASA)
  12. ↑ Certified Public Accountants & Auditing Oversight Board (CPAAOB)
  13. ↑ Financial Services Agency (FSA)
  14. ↑ Dutch Authority for the Financial Markets (AFM)
  15. ↑ Accounting and Corporate Regulatory Authority (ACRA)
  16. ↑ Independent Regulatory Board for Auditors (IRBA)
  17. ↑ Federal Audit Oversight Authority (FAOA)
  18. ↑ Capital Markets Board of Turkey (CMB)
  19. ↑ Public Oversight, Accounting and Auditing Standards Authority (POA)
  20. ↑ Financial Reporting Council (FRC)
  21. ↑ Public Company Accounting Oversight Board (PCAOB)
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