International Federation of Accountants (IFAC)
IFAC is the global organization for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. IFAC is comprised of over 175 members and associates in more than 130 countries and jurisdictions, representing almost 3 million accountants in public practice, education, government service, industry, and commerce.
Founding The International Federation of Accountants was founded on October 7, 1977, in Munich, Germany, at the 11th World Congress of Accountants. IFAC was established to strengthen the worldwide accountancy profession in the public interest by: Developing high-quality international standards in auditing and assurance, public sector accounting, ethics, and education for professional accountants and supporting their adoption and use; Facilitating collaboration and cooperation among its member bodies; Collaborating and cooperating with other international organizations; and Serving as the international spokesperson for the accountancy profession. At the first meeting of the IFAC Assembly and Council in October 1977, a 12-point work program was developed to guide IFAC committees and staff through the first five years of activities. Many elements of this work program are still relevant today. Beginning with 63 founding members from 51 countries in 1977, IFAC's membership has grown to now include over 175 members and associates in 130 countries and jurisdictions worldwide.* Past Presidents IFAC is led by its President, who is nominated by a member body and appointed by the IFAC Council. The following individuals have served as President of IFAC: Reinhard Goerdeler, Germany (1977–1980) Gordon Cowperthwaite, Canada 1980–1982) Washington SyCip, Philippines (1982–1985) Robert May, United States (1985–1987) Richard Wilkes, United Kingdom (1987–1990) Bertil Edlund, Sweden (1990–1992) Peter Agars, Australia (1992–1995) Juan Herrera, Dominican Republic (1995–1997) Frank Harding, United Kingdom (1997–2000) Tsuguoki Fujinuma, Japan (2000–2002) René Ricol, France (2002–2004) Graham Ward, United Kingdom (2004–2006) Fermín del Valle, Argentina (2006–2008) Robert Bunting, United States (2008–2010) Göran Tidström, Sweden (2010-2012) Warren Allen, New Zealand (2012-2014) Olivia Kirtley, United States (2014-2016) IFAC's current President is Rachel Grimes, who will serve as President until November 2018.
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