The International Federation of Accountants (IFAC) is an accounting organization that develops and promotes international standards in accounting and related fields. It was founded in 1977 and has over 175 member organizations in more than 130 countries.
The mission of IFAC is “to serve the public interest by helping the worldwide accounting profession develop and implement high-quality professional standards and to promote harmonization of those standards.”
One of the ways IFAC accomplishes its mission is by issuing International Financial Reporting Standards (IFRS), which are used by accounting professionals around the world. IFAC also provides guidance on a variety of other accounting topics, such as ethics, auditing, and taxation.