What is IAASB?

🧩 The development of professional audit requirements at the international level is the responsibility of the International Federation of Accountants (IFAC), established in 1977.
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⚖️ The International Federation of Accountants is an organization uniting #national and regional professional accounting organizations representing accountants engaged in public practice, in industry and #commerce, in the public sector, and in education. IFAC currently unites 159 members from 118 countries, representing more than 2.5 million accountants.
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🔎 The International Federation of Accountants seeks to #develop the profession and harmonize its standards worldwide in order to provide accountants with professional services at a high level in the interests of the whole #society.
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📝 IFAC includes IAASB — a board for international audit standards and assurance of credibility. The objective of the #IAASB is to strengthen the uniformity of audit practices and related #services around the world by developing provisions on various audit matters and guaranteeing credibility, as well as promoting their worldwide recognition.
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🔅 Following international standards in #financial reporting and its verification is designed to unify accounting procedures, but at the same time allows you to maintain national #business traditions inherent in the domestic economy. Using the results of an audit in accordance with ISA, one can objectively compare the activities of enterprises in different states, which is very convenient for international #investment.
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