About IFIAR

What We Do

  1. Improve audit quality globally.
  2. Strengthen IFIAR’s role as the international leader on audit matters through strategic thought leadership.
  3. Advance IFIAR’s governance structure and operations.
  4. Facilitate learning and cooperation among IFIAR Members.

Brian Hunt, CEO of the Canadian Public Accountability Board (CPAB) is the current Chair of IFIAR. Frank Schneider, CEO of the Federal Audit Oversight Authority (FAOA) of Switzerland serves as Vice Chair. The Chair and Vice Chair have two-year terms expiring April 2019.

Carl Renner is the current Executive Director of the IFIAR Secretariat based in Tokyo, Japan.

The IFIAR Board was established in April 2017 and is led by the Chair and Vice Chair. The Board’s tasks and duties are set out in the Charter. Current Board Members are Abu Dhabi, Australia, Canada, France, Germany, Japan, Korea, the Netherlands, Norway, Singapore, Switzerland, South Africa, Turkey, the United Kingdom and the United States.

The following organizations are observers of IFIAR meetings:

Basel Committee of Banking Supervisors (BCBS)
European Commission
Financial Stability Board (FSB)
International Association of Insurance Supervisors (IAIS)
International Organization of Securities Commission (IOSCO)
Public Interest Oversight Board (PIOB)
World Bank

WHO WE ARE

Established in Paris in 2006 by independent audit regulators from 18 jurisdictions, IFIAR has grown to 52 Members around the world.

IFIAR’s mission is to serve the public interest and to enhance investor protection by improving audit quality globally. The overall objective is to:

  1. Share knowledge of the evolving audit environment and the practical experience of independent audit regulatory activity.
  2. Promote collaboration and consistency in regulatory activity.
  3. Provide a platform for dialogue with other international organizations interested in audit quality.

Over the past decade, IFIAR has become an international leader in driving audit quality matters. Every year, it convenes a plenary meeting for Member representatives to discuss emerging regulatory issues, challenges facing the audit profession, and strategic approaches to sustainable audit quality.

Member volunteers are dedicated to practical outcomes that will enhance audit quality through their participation in a number of formal Working Groups, Task Forces and Outreach Team that meet regularly throughout the year. IFIAR’s six Working Groups are focused on practical deliverables in the following areas: Engaging with the six largest global audit networks; inspections; enforcement; international cooperation; investors and other stakeholders, and standard setting.

Each year the organization hosts a workshop focused on inspection processes and challenges, enhancing insight into Members’ oversight regimes and identifying better practices. The workshop also promotes greater consistency across regulators, and provides opportunities to discuss approaches to overseeing global audit firms in a coordinated manner. IFIAR also holds an annual enforcement workshop with similar goals. Other stakeholder and issues-driven meetings and meetings of the Board take place throughout the year.

To help measure audit quality trends, IFIAR conducts an annual Inspection Findings Survey which informs IFIAR’s collective efforts to promote audit quality globally, complementary to individual regulators’ audit firm inspection and oversight regimes. Results are made public every year.

As part of its outreach program, IFIAR delivers dozens of speeches and presentations, responds to requests for comment regarding proposed standard setting, and actively engages with non-Member jurisdictions interested in developing an independent auditor oversight regime. IFIAR also works closely with other international organizations, such as the Basel Committee of Banking Supervisors (BCBS), the European Commission, the Financial Stability Board (FSB), the International Association of Insurance Supervisors (IAIS), the International Organization of Securities Commissions (IOSCO), Public Interest Oversight Board (PIOB) and the World Bank.

IFIAR Celebrates 10 Years of Cooperation in International Audit Regulation

 

Decade At-A-Glance: Driving Audit Quality Around The World

IFIAR LEADERSHIP

CURRENT OFFICE BEARERS
Brian Hunt, CEO of the Canadian Public Accountability Board (CPAB) is the current Chair of IFIAR. Frank Schneider, CEO of the Federal Audit Oversight Authority (FAOA) of Switzerland serves as Vice Chair. The Chair and Vice Chair have two-year terms expiring April 2019.

IFIAR Leadership

BRIAN HUNT

CHAIR

Brian Hunt, CEO of CPAB, is the Chair of IFIAR. Brian’s focus includes governance, working with the six largest international audit firms on audit quality, reaching out to audit committees, standard setting matters, and implementing an effective and efficient permanent secretariat for IFIAR.

“We are on the edge of a transformation – changes in the way audits are planned, performed, staffed and communicated and how audit firms are structured to compete have the potential to alter the quality of the work that is performed. These will be key focus areas for IFIAR Members in the next few years.”

A founding Director of CPAB, Brian was appointed CEO on January 29, 2009. Prior to being elected Chair of IFIAR in April 2017, he served as IFIAR’s Vice Chair and Chair of IFIAR’s Global Public Policy Committee Working Group.

IFIAR Leadership

Frank Schneider

VICE CHAIR

Frank Schneider, CEO of the Federal Audit Oversight Authority of Switzerland is the current Vice Chair of IFIAR. Frank says trust in the reliability of financial reporting requires that the value of an audit is widely understood and accepted by all its stakeholders. An open dialogue with stakeholders is therefore essential.

“Emerging technologies will be a great challenge in the years to come and will require a fresh look at the way an audit is performed, not forgetting that an audit is in the public interest.”

Frank is a Swiss Certified Public Accountant and holds an Executive MBA from the Zurich University of Applied Sciences. Since 2007, he has been the CEO of the FAOA of Switzerland. Prior to that, he served as the head of the accounting enforcement division of the Swiss Exchange Regulation.

IFIAR Leadership

Carl Renner

Executive Director

Carl joined IFIAR in April 2017 to lead the new permanent secretariat based in Tokyo. Originally from New Zealand, Carl is a chartered accountant with more than 17 years’ experience in medium and large audit firms; 13 years as an auditor and four years as a financial due diligence specialist. During his career, Carl has worked in Sydney, Tokyo, and London.

Carl was most recently project director at the Financial Reporting Council’s (FRC) Financial Reporting Lab (Lab) which brings together companies and investors to support improvement and innovation in reporting.

Since he joined the Lab in 2013, Carl has led projects on various topics including accounting policy disclosure and business model reporting. He also co-led the project on disclosure of dividends – policy and practice.

IFIAR BOARD

The IFIAR Board was established in April 2017 and is led by the Chair and Vice Chair. The Board’s tasks and duties are set out in the Charter. Current Board Members are Abu Dhabi, Australia, Canada, France, Germany, Japan, Korea, the Netherlands, Norway, Singapore, Switzerland, South Africa, Turkey, the United Kingdom and the United States.