The International Forum of Independent Audit Regulators (IFIAR) has opened its headquarters in Tokyo, Japan and has held its first board meeting.

Forty seven members of the IFIAR were hosted by the Financial Services Agency of Japan / Certified Public Accountants & Auditing Oversight Board (JFSA/CPAAOB) at their annual plenary meeting.

The IFIAR outlined a strategic plan with the aim of proactively influencing audit quality matters globally and intensifying collaboration among its members and with its stakeholders. The IFIAR engaged with the CEOs of the six largest global audit networks (BDO, Deloitte, EY, Grant Thornton, KPMG and PwC) to discuss the enhancement of audit quality and execution, firm rotation and tendering, technology and also talent.

Janine van Diggelen, IFIAR chair said: “In April 2016, IFIAR Members approved setting up a permanent Secretariat in Tokyo. Just one year later we are delighted to hold the opening ceremony and are grateful for the invaluable support of the JFSA throughout the process.”

Nobuchika Mori, commissioner, JFSA added: “JFSA is delighted IFIAR has established its new Secretariat in Japan. We will cooperate with IFIAR in achieving its goal – to improve audit quality globally – through our contributions as an integrated financial regulator.”

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IFIAR to establish permanent secretariat in Tokyo