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INTERNATIONAL FOUNDATION FOR ETHICS AND AUDIT

NEW YORK, NY · EIN 920748086 · Form 990PF · FY2024 · NTEE W05 · Public & Societal Benefit · Large ($10M-$50M) · ethicsandaudit.org
revenue
$19.4M
expenses
$16.8M
net assets
$5.2M
employees
program ratio
0%
profile · synthesized from sources

The International Foundation for Ethics and Audit (IFEA) supports the development of high-quality international standards in ethics, audit, and assurance through two standard-setting boards: the International Auditing and Assurance Standards Board (IAASB) and the International Ethics Standards Board for Accountants (IESBA). It ensures an independent, technically rigorous process that serves the public interest and promotes trust in global corporate reporting. The foundation is based in New York and operates as a nonprofit entity.

named programs · 2 · from sources

What they call their work

International Auditing and Assurance Standards Board (IAASB)
Develops and issues international standards for auditing, review, assurance, and related services, including the Handbook of International Quality Control and International Standards on Auditing.
International Ethics Standards Board for Accountants (IESBA)
Establishes and maintains the International Code of Ethics for Professional Accountants, including independence standards, to promote ethical conduct in the accounting profession globally.
activities · 2 groups

What they do

  • Organization Website and Online Platform Management 1 activity
    • Providing public access to standards and resources
      Maintains official websites (ethicsandaudit.org, iaasb.org, ethicsboard.org) to disseminate information, standards, and publications to stakeholders globally.
  • Uncategorized 5 activities
    • Advancing sustainability assurance standards
      Initiated and leads a new workstream to develop a global assurance standard for sustainability reporting, expanding the scope of international audit and ethics frameworks.
    • Developing global ethics and audit standards
      Leads the development and revision of high-quality international standards in ethics, independence, audit, and assurance through the IESBA and IAASB, including recent updates to enhance public trust and responsiveness.
    • Facilitating inter-board collaboration and alignment
      Ensures interoperability and coordination between the IAASB and IESBA by facilitating communication and joint efforts in standard development and implementation.
    • Hosting international standard-setting boards
      Houses the International Auditing and Assurance Standards Board (IAASB) and the International Ethics Standards Board for Accountants (IESBA) as independent standard-setting bodies, providing institutional infrastructure to support their operations.
    • Strengthening international standard-setting governance
      Implemented structural reforms, including relocating the IESBA and IAASB to an independent entity, to enhance the independence and credibility of the global audit and ethics standard-setting system in response to Monitoring Group recommendations.
financials · form 990PF · fy2024
revenue
Total revenue$19.38M
Contributions & grants$19.30M100%
Program service revenue
Investment income$70K0%
Other revenue
expenses
Total expenses$16.82M
Program expenses0%
Admin / overhead100%
Fundraising0%
Salaries & benefits$1.99M
Grants paid out$0
Largest expense lineProfessional Fees
balance sheet
Total assets$7.72M
Cash$4.67M
Investments$0
Liabilities$4.75M
Net assets$5.24M
Liquid reserves3.3 mo
3 years on record · 2022–2024 · YoY revenue +5.9%
leadership · form 990 part vii · fy2024

Who runs it

paid leadership · 6
NameTitleHours/wkCompensation
THOMAS SEIDENSTEIN CO-CEO 35 $770K
GABRIELA FIGUEIREDO DIAS CO-CEO 35 $731K
JAMES GUNN TREASURER / SECRETARY, MANAGING DIRECT 35 $650K
DAVE SULLIVAN TRUSTEE 1 $2K
SANDRA PETERS TRUSTEE TILL 9/1 1 $2K
ROBERT BUCHANAN CHAIR 1 $1K
board members · 6
  • ASMAA RESMOUKI — TRUSTEE TILL 12/3
  • JEAN BOUQUOT — TRUSTEE FROM 12/3
  • KEVIN DANCEY — TRUSTEE TILL 3/5
  • LEE WHITE — TRUSTEE FROM 3/5
  • LINDA DE BEER — TRUSTEE
  • MARTIN MANUZI — TRUSTEE FROM 9/1
relationships · 25

Who they work with

  • Accountancy Europe Partner — Dr. Manuzi authored a 2008 study published by Fédération des Experts Comptables Européens, now Accountancy Europe
  • CFE Tax Advisers Europe Partner — Dr. Manuzi led the 2021 initiative on “an ethics quality bar for all tax advisers”
  • IAASB Partner — IAASB Chair serves as Co-CEO of IFEA and leads strategic direction for the IAASB standard-setting board
  • ICAEW-PwC Partner — Dr. Manuzi chaired the ICAEW-PwC discussion series on “Sustainable public finances – EU perspectives”
  • IESBA Partner — IESBA Chair serves as Co-CEO of IFEA and leads strategic direction for the IESBA standard-setting board
  • IFAC Government — Co-owner of intellectual property and closely affiliated in the governance and dissemination of auditing and ethics standards.
  • IFAC Partner — Member of the Foundation and appoints the Foundation's Board of Trustees.
  • International Auditing and Assurance Standards Board Government — Standard-setting board moved under the Foundation's independent structure.
  • International Auditing and Assurance Standards Board Network — Houses the IAASB as part of its governance structure.
  • International Auditing and Assurance Standards Board Network — Houses the IAASB within the International Foundation for Ethics and Audit.
  • International Auditing and Assurance Standards Board Network — Standard-setting board housed by the Foundation to develop international auditing and assurance standards.
  • International Ethics Standards Board for Accountants Government — Standard-setting board moved under the Foundation's independent structure.
  • International Ethics Standards Board for Accountants Network — Hosts the IESBA within the International Foundation for Ethics and Audit.
  • International Ethics Standards Board for Accountants Network — Houses the IESBA as part of its governance structure.
  • International Ethics Standards Board for Accountants Network — Standard-setting board housed by the Foundation to develop international ethics standards for professional accountants.
  • International Federation of Accountants Partner — Nominates private industry trustees to the Foundation’s Board of Trustees and manages intellectual property and translation requests for IAASB and IESBA content.
  • International Valuation Standards Council Government — Tom Seidenstein has served as a Trustee of this organization.
  • KPMG Partner — Former employer where James Gunn served in the Canadian Assurance Practice and National Assurance and Professional Practice department.
  • Make-A-Wish Foundation Partner — Tom Seidenstein holds a volunteer leadership position on the UK and international boards of this organization.
  • Monitoring Group Partner — Member of the Foundation and appoints the Foundation's Board of Trustees.
  • Public Interest Oversight Board Government — Dr. Martin B. Manuzi serves as Secretary General of the Public Interest Oversight Board
  • Public Interest Oversight Board Government — Responsible for oversight of the IAASB’s and IESBA’s standard-setting process and nominates public interest trustees to the Foundation’s Board of Trustees.
  • Public Interest Oversight Board Partner — Member of the Foundation and appoints the Foundation's Board of Trustees.
  • Quality Assurance Network for non-PIE audit Partner — Dr. Manuzi established and chaired the Quality Assurance Network for non-PIE audit
  • XBRL International Partner — Tom Seidenstein previously served on XBRL International’s Board of Advisors.
strategies · 3

How they approach the work

Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.