This third edition of the guide features enhancements to the two sample manuals, as well as other refinements for clarity and consistency with International Standard on Quality Control (ISQC) 1. The guide contains the requirements set out in ISQC 1 in addition to implementation guidance, including discussion material and an integrated case study that can be used as the basis for education and training.
The International Federation of Accountants (IFAC) congratulates Steven Maijoor on his appointment as the next Chair of the IFRS Foundation Trustees, Sam Woods on his appointment as Chair of the International Accounting Standards Board (IASB), and Laura Forzani on her appointment as Managing Director of the IFRS Foundation.
Together, these appointments mark an important new chapter for the IFRS Foundation as it continues to strengthen the global financial reporting architecture and support high-quality, internationally accepted standards.
Lee White, Chief Executive Officer of IFAC, said:
"I have been fortunate to work with Steven over many years in different capacities and have always valued his thoughtful leadership, deep expertise, and unwavering commitment to the public interest. I look forward to continuing our close collaboration in his new role as Chair of the IFRS Foundation Trustees.
I also warmly congratulate Sam Woods on his appointment as Chair of the IASB. His extensive experience in financial regulation and international policy, together with his strong commitment to high-quality global standards, will serve the IASB well as it continues to meet the evolving needs of investors, businesses, and capital markets.
And I congratulate Laura Forzani on her appointment as Managing Director. Her proven leadership and operational expertise will be a tremendous asset to the Foundation as it continues to evolve and deliver on its important mission."
IFAC also extends its sincere appreciation to Erkki Liikanen for his outstanding leadership as Chair of the IFRS Foundation Trustees since 2018, guiding the Foundation through a period of significant growth and transformation. IFAC likewise thanks Andreas Barckow for his leadership of the IASB and his important contributions to advancing high-quality global accounting standards during his tenure. In addition, IFAC recognizes Michel Madelain for his service as Managing Director, including his leadership of the Foundation's transformation program that has strengthened its operations and positioned it well for the future.
IFAC looks forward to continuing its strong partnership with the IFRS Foundation, the IASB, the ISSB, and the Foundation's leadership team in advancing high-quality international standards that serve the public interest and strengthen trust in global capital markets.
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 International Auditing and Assurance Standards Board (IAASB) and the International Ethics Standards Board for Accountants (IESBA) welcome the appointment of Steven Maijoor as Chair of the IFRS Foundation Trustees. Mr. Maijoor succeeds Erkki Liikanen and brings extensive experience in financial regulation and international standard setting to the role.
Commenting on Mr. Maijoor's appointment, Gabriela Figueiredo Dias and Tom Seidenstein, Chairs of the IESBA and IAASB respectively, said:
"We warmly welcome Steven Maijoor as Chair of the IFRS Foundation Trustees. His deep experience across financial markets, audit regulation and international standard setting gives him a strong understanding of the interconnected system in which the IFRS Foundation, the IAASB, and the IESBA all operate.
“Coherence between financial and non-financial reporting, audit, and ethics and independence standards matters more than ever to investors, regulators, and the public. We are grateful to Erkki Liikanen for his leadership of the IFRS Foundation Trustees and for the strong engagement and collaboration between our organizations during his tenure. We look forward to building on this strong foundation with Mr. Maijoor to help ensure these standards continue to work together as one interoperable system."
The IAASB and IESBA remain committed to close engagement with the IFRS Foundation to support interoperable, high-quality global standards. Further information on the appointment is available on the IFRS Foundation's website.
The IAASB develops auditing, assurance, related services, and quality management standards and guidance in the public interest that support consistent performance of quality engagements.
The IESBA is an independent global standard-setting board. The IESBA’s mission is to serve the public interest by setting high-quality, international ethics (including independence) standards as a cornerstone to ethical behavior in business and organizations, and to public trust in financial and non-financial information that is fundamental to the proper functioning and sustainability of organizations, financial markets and economies worldwide.
