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
56 jurisdictions
Chair
Takashi Nagaoka (Secretary General of Certified Public Accountants and Auditing Oversight Board (CPAAOB) and Deputy Commissioner for International Affairs at Japan's Financial Services Agency (JFSA))
Vice Chair
Kevin Prendergast (Chief Executive of the Irish Auditing & Accounting Supervisory Authority (IAASA))
Website https://www.ifiar.org/

The International Forum of Independent Audit Regulators (IFIAR) is a global member organization comprising independent audit regulators from 56 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 Kara Stein, PCAOB, United States
  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 James Ferris, FRC, United Kingdom

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 September 2024, IFIAR has 56 members. IFIAR members are divided into two categories:

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 Authority for Audit(H2A)
  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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