Membership of the International Federation of Accountants (IFAC) is close to reach the three million milestone after an external review showed figures rose to 2.84 million of accountants.

The review represents a 16% increase in the membership of IFAC’s 175 member and associate bodies following analysis of data from 2009 to 2013.

IFAC said 69% of total growth came from IFAC existing member organizations adding new accountants; and 31% is attributable to new professional accountancy organisations joining IFAC.

IFAC has added 21 members and associates worldwide since 2009. Existing IFAC members with the largest growth came from Europe, from 834,000 to 981,000 over the four-year period reviewed.

The review was conducted by the Centre for Economics and Business Research and a full report will be published later in the year, IFAC announced.

Meanwhile, the Association of Chartered Certified Accountants (ACCA) reported its global membership grew by 7% to over 178,000 in the past year.

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By GlobalData

ACCA counted 455,000 students, up 3% from the previous year, of which 397,000 were studying for the ACCA Qualification in 2014-15.

ACCA also said its retention rate among existing members stood at 98.3%.

The International Valuation Standards Council (IVSC) and The Appraisal Foundation (TAF) pledged to enhance cooperation efforts to harmonise the difference between their respective valuation standards.

A Memorandum of Understanding (MoU) between the two was signed in October 2014, where a three-year plan was set to that purpose.

IVSC said there is no single set of global standards for estimating the value of assets has been comprehensively adopted across the world.

IVSC chairman Sir David Tweedie said both organisations share the goal of establishing a globally accepted set of valuation standards.

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