The International Federation of Accountants (IFAC) welcomes the International Audit and Assurance Standards Board (IAASB) publishing its International Standard on Sustainability Assurance (ISSA) 5000. The International Organization of Securities Commissions (IOSCO) has also issued its public statement of support. 

Lee White, IFAC Chief Executive Officer, said “In recent years there has been a significant transformation with the reporting of sustainability-related information. Assurance plays an essential role in ensuring the quality, comparability, and trustworthiness of this information, as it does with financial information. IOSCO has shown proactive leadership in the development of the sustainability transformation journey, and its support for the work of the IAASB on ISSA 5000 is another important step.” 

As a profession-agnostic standard, ISSA 5000 is available for use by practitioners outside of the accountancy profession.  If non-professional accountants assert to using ISSA 5000 for assurance, it is absolutely critical for investor and consumer protection that such providers are held by jurisdictional regulators to the same regulatory oversight and requirements that apply to professional accountants.

Mr. White continued, “IFAC’s professional accountancy member organizations around the globe, which represent millions of individual accountants, are champions of integrity and quality.  Our profession is united by a deep commitment to work with regulators, practitioners, and organizations globally to facilitate smooth and timely implementation of international standards, such as ISSA 5000, in order to serve the public interest need.”

IFAC has developed a high-level overview to help stakeholders – preparers, auditors, and investors – anticipate what to expect from sustainability assurance, especially in its early days.

For more information, and/or to be invited to future IFAC webinars or events on sustainability, please contact Communications@IFAC.org.

About IFAC

IFAC, by connecting and uniting its members, makes the accountancy profession truly global.

IFAC member organizations are champions of integrity and professional quality, and proudly carry their membership as a badge of international recognition.

IFAC and its members work together to shape the future of the profession through learning, innovation, a collective voice, and commitment to the public interest.

The global search for volunteer members to serve on the International Public Sector Accounting Standards Board (IPSASB) is underway. The IPSASB is an independent standard-setting body that works to strengthen public financial management globally through developing and maintaining accrual-based International Public Sector Accounting Standards® (IPSAS®), IPSASB Sustainability Reporting Standards™ (IPSASB SRS™), and other high-quality reporting guidance for use by governments and other public sector entities.

The Nominating Committee is seeking nominations from a wide range of relevant backgrounds, including:

• Public sector standard setters
• Preparers of accrual-based financial statements and/or public sector sustainability reports who may come from Ministries of Finance, Accountants Generals’ Departments, or other institutions
• Users of general-purpose financial reports, such as parliamentarians, budget offices, and credit-rating agencies
• Public sector external auditors
• Candidates from jurisdictions that are transitioning to or have already implemented IPSAS

Candidates should have relevant experience, potentially including a strong knowledge of issues related to financial and sustainability reporting, reporting standard-setting experience, direct experience with public financial reforms, and / or familiarity with the needs of financial statement users. Excellent English communication skills are required.

The initial term of service for these volunteers will be for three years, commencing on January 1, 2026, with the potential to renew for another three-year term.

All stakeholders, including from national, state, and local governments, national standard setters, IFAC member organizations, the Forum of Firms and their members from public accounting firms, other organizations, and members of the general public, are encouraged to nominate candidates or apply.

Nominations from all regions of the world are encouraged, with a particular emphasis on qualified candidates from Africa and Latin America (both Spanish and Portuguese-speaking countries) regions. Nominations of female candidates are strongly encouraged.

“IPSASB members have the unique opportunity to shape the future of public sector reporting and connect with colleagues from around the globe," said Ian Carruthers, IPSASB Chair. "As the IPSASB enters a new phase with an increased focus on the maintenance and application of the IPSAS suite of standards, along with the development of sustainability reporting standards, I strongly encourage jurisdictions that are using IPSAS, or actively transitioning to IPSAS, to nominate candidates.”

The deadline for submitting applications is January 31, 2025. Please see the Call for Nominations for more details and information on how to submit an application.

About the IPSASB
The International Public Sector Accounting Standards Board (IPSASB) works to strengthen public financial management globally through developing and maintaining accrual-based International Public Sector Accounting Standards® (IPSAS®), IPSASB Sustainability Reporting Standards™ (IPSASB SRS™) and other high-quality financial reporting guidance for use by governments and other public sector entities. It also raises awareness of IPSAS and IPSASB SRS and promotes the adoption and implementation of these to enhance the quality and consistency of practice throughout the world and strengthen the transparency and accountability of public sector finances and sustainable development.  The Board receives support from the Asian Development Bank, the Chartered Professional Accountants of Canada, the New Zealand External Reporting Board, the government of Canada, and The World Bank. The structures and processes that support the operations of the IPSASB are facilitated by the International Federation of Accountants (IFAC). For copyright, trademark, and permissions information, please go to permissions or contact permissions@ifac.org.

As the International Public Sector Accounting Standards Board (IPSASB) develops our first Sustainability Reporting Standard (IPSASB SRS^TM), we recognize its principles and concepts must be practicable and implementable so public sector entities can effectively determine and report on their contributions to address the global climate emergency.

The International Federation of Accountants (IFAC) warmly welcomes the appointment of Rodrigo Buenaventura as new Secretary General of the International Organization of Securities Commissions (IOSCO), and congratulates IOSCO on the announcement.

Lee White, Chief Executive Officer of IFAC, said: "IOSCO is one of IFAC’s most important global partners. Rodrigo’s appointment to Secretary General provides an exciting opportunity to deepen our collaboration, and to strengthen our relationship on behalf of the global accountancy profession.”

Mr. Buenaventura currently serves as Chair of the Spanish Securities and Markets Commission (CNMV).  He is a member of the IOSCO Board and the Board of Supervisors of ESMA.  He also serves as Chair of the IOSCO Sustainable Finance Task Force, Vice-chair of the OECD Corporate Governance Committee and Chair of the ESMA Markets Standing Committee.

“With his extensive experience in securities regulation, corporate governance, and sustainable finance, there is no doubt that Rodrigo will add meaningfully to IOSCO’s important work in sustainability reporting and assurance and integrity in Carbon Markets, among other areas. I have worked closely with Rodrigo over a number of years, and look forward to working closely with him into the future.

“I also wish to recognize the outstanding contributions of Tajinder Singh in his role as Acting Secretary General, and in his ongoing role of Deputy Secretary General, and I look forward to continuing to work together,” said Mr. White.

IFAC, an Affiliate Member of IOSCO and the sole representative of the accountancy profession, shares with IOSCO a longstanding commitment to promoting high-quality financial reporting and audit, high-quality sustainability reporting and assurance, good corporate governance, and broader investor protection. 

About IFAC

IFAC, by connecting and uniting its members, makes the accountancy profession truly global.

IFAC member organizations are champions of integrity and professional quality, and proudly carry their membership as a badge of international recognition.

IFAC and its members work together to shape the future of the profession through learning, innovation, a collective voice, and commitment to the public interest.

Jan Jaap Boontjes is Head of Public Affairs at the Royal Netherlands Institute of Chartered Accountants (NBA). He has extensive experience in representing the interests of the profession to a broad range of stakeholders, both nationally and internationally.

He joined the NBA in 2016. From 2020 to 2022, he worked for the Dutch Ministry of Finance as a senior policy advisor, where he was involved in audit reform legislation and served as secretary to the 'Quartermasters for the Future of the Accountancy Sector.'

Dr. Ahmad Almeghames joined the IFAC Board in November 2024, nominated by the Saudi Organization for Chartered and Professional Accountants (SOCPA), where he has served as Chief Executive Officer since 2006.

Dr. Almeghames holds a Ph.D. in Accounting from Mississippi State University, United States, and began his career in academia at King Saud University before assuming leadership roles at SOCPA. Under his leadership, SOCPA has strengthened its position as a leading voice in global accounting reform and innovation.

Internationally, Dr. Almeghames is Chair of the Regional Partnership for promotion of Sustainability Reporting under UNCTAD-ISAR. He also represents Saudi Arabia in the United Nations Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting.

With more than 25 years of experience in accounting, auditing, and professional regulation, he has been playing a key role in advancing the accounting profession in Saudi Arabia and across the region. Throughout his career, Dr. Almeghames has contributed significantly to the development of international best practices in financial reporting, quality assurance, and sustainability. His leadership has been recognized globally, including receiving the ICAEW Award for outstanding contribution to the profession.

The International Federation of Accountants (IFAC), the voice of the global accountancy profession, has announced the election of Jean Bouquot as its President. Mr. Bouquot will serve a two-year term through November 2026, having served previously as IFAC Deputy President since November 2022.

“It is my honor to serve as IFAC President,” said Mr. Bouquot. “Together with my fellow Board members, I will work on behalf of all IFAC members, convene the profession and its stakeholders to highlight the role and activities of IFAC, and always advance the profession in the public interest.”

Mr. Bouquot joined the IFAC Board in November 2020, nominated by Compagnie Nationale des Commissaires aux Comptes (CNCC) and Conseil National de l'Ordre des Experts-Comptables (CNOEC). During his term as CNCC President and together with the CNCC Board, he led reforms that significantly strengthened the French audit profession. Mr. Bouquot was also the President and Deputy President of the Compagnie Régionale des Commissaires aux Comptes de Versailles et du Centre (CRCC Versailles). He is currently a Board member of the Fédération Internationale des Experts-comptables et commissaires aux Francophones (FIDEF), an IFAC Network Partner organization.

Mr. Bouquot has over 44 years of experience as an auditor in various positions at EY with wide exposure to international activities. He currently runs his own small firm in Paris, France.

Taryn Rulton Named IFAC Deputy President

IFAC also announced the election of Taryn Rulton as its Deputy President. Ms. Rulton joined the Board in November 2020.

Ms. Rulton has over 30 years of experience across the United Kingdom and Australia. She brings a diverse background that involves the banking industry, Big-4 firms (KPMG & EY), government, private companies, NGOs, and universities. She currently holds the position of Chief Commercial Officer at La Trobe University in Melbourne, Australia.

Ms. Rulton has significant corporate governance experience and currently serves on multiple corporate Boards and committees in the not-for-profit and public sector, including as the Chair of Audit and Risk Committees. She has standard-setting experience and completed two terms on the Australian Accounting Standards Board (AASB).

New Board Members Elected

IFAC also announced new and re-appointed Board members:

New appointments:

• Ms. Josephine Su Han Phan (CPA Australia)
• Mr. Michael Niehues (IDW/WPK, Germany)
• Mrs. Patricia Stock (SAICA, South Africa)
• Mr. Mark Vaessen (Royal NBA, Netherlands)
• Mr. Lei Yan (CICPA, China)
• Dr. Ahmad Almeghames (SOCPA, Saudi Arabia)

Reappointments:

• Mr. Greg Anton (AICPA, USA)
• Ms. Tashia Batstone (CPA Canada)

Lee White, Chief Executive Officer, said: “On behalf of the IFAC President, Jean Bouquot, and entire IFAC community, I wish to extend our sincere gratitude to Asmâa Resmouki, the Immediate Past President, and outgoing Board members—Lisa Padmore, Margrét Pétursdóttir, Jeanine Poggiolini, Dr. Jianhua Tang, and Ayşe Arıak Tunaboylu for their tremendous service to our profession, and for the invaluable wisdom and support to me and all of our members during their tenures.”

New IFAC Members and Associate Admitted

In addition to the election of new Board members, the IFAC Council also approved new Member and new Associate organizations.

New IFAC Members:

• Colegio de Contadores Públicos de Pichincha y del Ecuador
• Consejo General de Economistas de España
• Emirates Association for Accountants and Auditors

New Associates:

• Institute of Chartered Accountants of the Maldives  
• Ordre National des Experts-Comptables Algériens
• Ordre des Professionnels Comptables du Burundi
• Ordre National des Experts Comptables du Gabon

The new appointments and membership admissions were approved at the 2024 IFAC Council hybrid meeting, with a physical location held in Paris, France on November 6-7, 2024.

About IFAC

IFAC, by connecting and uniting its members, makes the accountancy profession truly global.

IFAC member organizations are champions of integrity and professional quality, and proudly carry their membership as a badge of international recognition.

IFAC and its members work together to shape the future of the profession through learning, innovation, a collective voice, and commitment to the public interest.