The International Federation of Accountants
(IFAC) has admitted four more professional bodies in Kazakhstan,
Montenegro, El Salvador and Benin to its membership.
The Chamber of Professional Accountants of the
Republic of Kazakhstan, the Institute of Certified Accountants of
Montenegro, the Instituto Salvadoreño de Contadores Públicos and
Ordre des Experts-Comptables et Comptables Agréés du Bénin.
IFAC also admitted one former associate as a
member, Institute of Financial Accountants (United Kingdom).
IFAC now has 167 members, presence in 127
countries and represents about 2.5m accountants in public practice,
education, government service, industry, and commerce.
To become a member of IFAC an organisation
must be acknowledged, either by legal decree or by general
consensus, as being a national professional organisation in good
standing in the jurisdiction and must have the support of the
public and other key stakeholders in case of general consensus.
“The admission of new associates and members
is particularly important in developing and emerging economies.
Strong professional accountancy organisations provide professional
and technical support to the professional accountants that are
their members,” IFAC executive director of quality and member
relations Russell Guthrie said.
“In turn, these professional accountants
contribute to the production and assurance of high quality
financial information which is essential for decision makers in
both the public and private sectors.”