The Fast Future With IFAC is a conversational podcast series about small- and medium-sized practicies (SMPs) adapting to the rapidly changing global economy.
Episode Six features a conversation with Hamish Mexted, Founder and Director of Convex Accounting.
We spoke to Hamish about his experience with a range of pressing topics for SMPs, including:
Cybsercurity and cloud computing
Communication and relationship-building with clients
Attracting and retaining talent
Innovation in the firm
Click below or visit IFAC's iTunes podcast channel to listen to this episode.
The International Federation of Accountants (IFAC) today released a new resource, The Risk Identification and Assessment Process: Tips on Implementing ISA 315 (Revised 2019). The tool helps auditors implement the International Auditing and Assurance Standards Board’s (IAASB) International Standard on Auditing (ISA) 315 (Revised 2019), Identifying and Assessing the Risks of Material Misstatement, which is effective for audits of financial statements for periods beginning on or after December 15, 2021.
The implementation toolprovides an overview of core concepts and explains new and previously existing requirements. It also includes examples and emphasizes the scalability of the standard with a focus on less complex entities. The tool does not replace the need to read ISA 315 (Revised 2019), including its application and other explanatory material.
About IFAC IFAC is the global organization for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. IFAC is comprised of 180 members and associates in 135 countries and jurisdictions, representing more than 3 million accountants in public practice, education, government service, industry, and commerce.
New Resource Helps Implement ISA 315 (Revised 2019)
This implementation tool helps auditors implement the International Auditing and Assurance Standards Board’s International Standard on Auditing (ISA) 315 (Revised 2019), Identifying and Assessing the Risks of Material Misstatement, which is effective for audits of financial statements for periods beginning on or after December 15, 2021.
IFAC is pleased to respond to the IASB Request for Information (RFI) Comprehensive Review of the IFRS for SME standard.
One of IFAC’s key objectives is ‘Contributing to and promoting the development, adoption, and implementation of high-quality international standards’, which includes providing the global profession’s perspective. This response has been prepared following consultation across our broad constituent base.
Insights from IFAC’s Professional Accountants in Business Advisory Group
At its September 2022 hybrid meeting, IFAC’s Professional Accountants in Business (PAIB) Advisory Group considered key trends impacting businesses and public sector organizations globally, as they confront and navigate increasingly complex and interconnected challenges in the current uncertain environment.
To meet their sustainability commitments, companies are increasingly focused on financing sustainability-related transition projects that require extensive capital at lower cost.
The annual A4S Summit is a unique global gathering to catalyse action on sustainability in the finance community.
Through the series of events that make up the Summit, A4S brings together leaders in finance for discussion, insight and action. Participants will explore the trends shaping our world and the practical actions that can be taken to build a resilient, sustainable economy.
Exploring the IESBA Code - A Focus on Technology looks at challlenges professional accountants might face when applying the conceptual framework of the IESBA Code to technology-related matters.
To guide professional accountancy organizations (PAOs) in how they can act today to prepare their current and future members to seize opportunities presented by emerging trends, IFAC has published a new report with insights from its Professional Accountancy Organization Development and Advisory Group. These insights address four emerging trends—sustainability-related reporting, anti-corruption efforts, sound public financial management, and technological change—that will help PAOs ensure their own and their members’ resilience, relevance and adaptability today and into the future.
The PAO Development and Advisory Group encourages PAOs to consider how their educational programming can respond to these trends, and engage accordingly with their education stakeholders. Actioning some or all of the insights in the new report will help PAOs improve their value proposition and the attractiveness of the profession, while helping address issues that are fundamental to the public interest.
