irs program accomplishments · form 990 part iii · fy2024
What they reported doing
- #1 primary $0HYBRID MEETINGS: THE FOF HAS MEETINGS AT DIFFERENT JURISDICTIONAL LEVELS. FOR 2024 ALL SIX FOF MEETINGS (3 X GLOBAL, 2 X REGIONAL AND 1 X COUNTRY) WERE HYBRID. HAVING HYBRID SUPPORTS OUR PUBLIC INTEREST COMMITMENT TO MAKE THE AUDIT QUALITY LEARNING OPPORTUNITIES FROM FOF EVENTS AS WIDELY AVAILABLE ACROSS THE DIVERSE FOF MEMBERSHIP. A FULLY VIRTUAL 'TAC ONLY' MEETING DEALING WITH TAC (THE TAC IS THE FOF BOARD) NOMINATIONS TO THE INTERNATIONAL AUDITING & ASSURANCE STANDARDS BOARD (IAASB) AND INTERNATIONAL ETHICS STANDARDS BOARD FOR ACCOUNTANTS (IESBA) OCCURRED IN JANUARY. AS ALLUDED TO, IN 2024, THE FOF HELD 3 HYBRID GLOBAL MEETINGS INVOLVING THE ENTIRE FOF MEMBERSHIP AS FOLLOWS: APRIL 22 TO 24 - SINGAPORE (3 DAYS) JUNE 25 TO 27 NEW YORK (3 DAYS) NOVEMBER 4 TO 6 AND 8 PARIS (4 DAYS) COUNTRY/REGIONAL AUDIT QUALITY MEETINGS/EVENTS: IN ADDITION TO OUR GLOBAL MEETINGS, FOR 2024, WE INCREASED THE AMOUNT OF 'REGIONAL OR 'COUNTRY' MEETING ACTIVITY WITH, IN MAY, A FULL DAY AUDIT QUALITY EVENT IN BOGOTA, COLOMBIA, WITH FURTHER FULL DAY AUDIT QUALITY EVENTS IN BOTH DUBAI, UAE (OCTOBER) AND DELHI, INDIA (NOVEMBER). BOTH BOGOTA AND DUBAI WERE COMPLIMENTED BY SEPARATE RELATED EVENTS HOSTED BY THE INTERNATIONAL FEDERATION OF ACCOUNTANTS (IFAC SEE MORE BELOW). THE FOF SUPPORTS CONTINUED 'REGIONAL OR 'COUNTRY' ACTIVITY WITH A VIEW TO FURTHER COLLABORATING WITH IFAC WHERE MUTUALLY BENEFICIAL OFFERING OPPORTUNITY FOR A POWERFUL PACKAGE OF PROFESSIONAL DEVELOPMENT FOR PROFESSIONAL ACCOUNTANTS IN SUPPORT OF THE FOF'S PUBLIC INTEREST OBJECTIVE. COLLABORATION WITH IFAC IN SUPPORT OF AUDIT QUALITY: THE FOF ACTIVELY COLLABORATED WITH IFAC WHERE POSSIBLE WHEN ORGANIZING ITS 6 MEETING AND EVENTS DESCRIBED ABOVE. HAVING MEETING EVENTS WHICH ARE ADJACENT TO RELATED IFAC MEETINGS/EVENT OFFERED AN IMPROVED OPPORTUNITY FOR PROFESSIONAL DEVELOPMENT FOR FOF MEMBERS THIS COLLABORATION INCLUDED: FOF Q1 2024 GLOBAL MEETING HELD ADJACENT TO THE IFAC ASIA-PACIFIC SUSTAINABILITY EXCHANGE SINGAPORE FOF REGIONAL AUDIT QUALITY EVENT IN BOGOTA (MAY 7) HELD ADJACENT TO THE IFAC LATAM FORUM (MAY 8-9) FOF REGIONAL AUDIT QUALITY EVENT IN DUBAI (OCTOBER 23) HELD ADJACENT TO THE IFAC- EAAA SUSTAINABILITY CONFERENCE IN THE MIDDLE EAST AND NORTH AFRICA ACCOUNTING AND FINANCIAL REPORTING FOF Q4 2024 GLOBAL MEETING IN PARIS TO BE ADJACENT TO IFAC COUNCIL MEETING FOF COMMUNITY: A KEY STRENGTH OF THE FOF IS THE SENSE OF 'COMMUNITY' WE CONTINUALLY ENDEAVOR TO FOSTER. WE SUPPORT THIS BY CREATING INCLUSIVE AGENDAS FOR THE MEETINGS/EVENTS DESCRIBED ABOVE GUIDED IN DEVELOPMENT BY 'PLANNING COMMITTEES' WHOSE COMPOSITION REFLECTS THE NATURE OF THE AUDIENCE TO WHICH THE EVENT IS AIMING TO SUPPORT. FURTHER, WE OFFER MEETING ENVIRONMENTS WHICH ENCOURAGE OPEN AND HONEST ENGAGEMENT A 'SAFE SPACE' WHERE BOTH FOF MEMBERS AND STAKEHOLDERS CAN HAVE HONEST AND FRANK DIALOGUE ON THE TOPICS OF KEY IMPORTANCE TO THE PROFESSION IN SUPPORTING AUDIT QUALITY. THE ABILITY TO OFFER VIRTUAL ATTENDANCE AT FOF MEETINGS HAS VASTLY INCREASED THE EXTENT OF REGISTERED ATTENDANCE AND ABILITY TO FURTHER SUPPORT ADUIT QUALITY AGENDA PLANNING: A PRIORITY WAS CONTINUING TO ENSURE ALL FOF MEETING AGENDAS WERE 'RELEVANT' UNDERPINNED BY COMPREHENSIVE ENGAGEMENT WITH STAKEHOLDERS FROM ACROSS THE AUDIT QUALITY ECO-SYSTEM IN SUPPORT OF THE PUBLIC INTEREST. IN THE DEVELOPMENT OF ALL AGENDAS AND RESOURCES/TOOLS, SIGNIFICANT CONSIDERATION IS GIVEN TO ENSURING THE ISSUES AND CHALLENGES BEING EXPERIENCED BY BOTH LARGE AND SMALLER MEMBER FOF MEMBERS FIRMS ARE TAKEN INTO CONSIDERATION. STAKEHOLDER WE ENGAGED WITH IN 2024 INCLUDED: O ENGAGEMENT ACROSS THE INTERNATIONAL STANDARD SETTING COMMUNITY EUROPEAN FINANCIAL REPORTING ADVISORY GROUP EFRAG GLOBAL REPORTING INITIATIVE GRI INTERNATIONAL ACCOUNTING STANDARDS BOARD IASB INTERNATIONAL AUDITING & ASSURANCE STANDARDS BOARD IAASB INTERNATIONAL ETHICS STANDARDS BOARD FOR ACCOUNTANTS IESBA INTERNATIONAL FINANCIAL REPORTING FOR NON-PROFIT ORGANISATIONS IFR4NPO INTERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARDS BOARD IPSASB INTERNATIONAL SUSTAINABILITY STANDARDS BOARD ISSB O ENGAGEMENT ACROSS THE REGULATORY COMMUNITY CANADIAN PUBLIC ACCOUNTABILITY BOARD CPAB COMMITTEE OF EUROPEAN AUDITING OVERSIGHT BODIES CEAOB EUROPEAN SECURITIES AND MARKETS AUTHORITY ESMA LE HAUT CONSEIL DU COMMISSARIAT AUX COMPTES (FRANCE) H3C NATIONAL FINANCIAL REPORTING AUTHORITY (INDIA) NFRA FINANCIAL REPORTING COUNCIL (UK) FRC PUBLIC COMPANY ACCOUNTING OVERSIGHT BOARD (USA) PCAOB O ENGAGEMENT WITH OTHER IMPORTANT STAKEHOLDERS FROM ACROSS THE AUDIT QUALITY ECO-SYSTEM IFAC IFAC CEO A STANDING AGENDA ITEMS FOR ALL FOF MEETINGS MULTIPLE ENGAGEMENTS ON THE IFAC 'STATE OF PLAY' SERIES (RELATING TO GLOBAL TRENDS ON ASSURANCE ON SUSTAINABILITY REPORTING) IFAC COMMUNICATION DEPT: INTEGRATED STRATEGIES TO ADVOCATE FOR THE PROFESSION IFAC COMMUNICATION DEPT: GLOBAL PLATFORM FOR FOF MEMBER RESOURCES IN SUPPORT OF AUDIT QUALITY IFAC INTERNATIONAL PANEL ON ACCOUNTANCY EDUCATION (PANELIST) SUPPORTING IFAC WHENEVER ASKED IN PROVIDING PANELISTS, SPEAKERS, ETC NATIONAL/REGIONAL ACCOUNTING BODIES/ORGANIZATIONS CHARTERED PROFESSIONAL ACCOUNTANTS OF CANADA CPA CANADA INSTITUTO MEXICANO DE CONTADORES PUBLICOS IMCP INSTITUTO NACIONAL DE CONTADORES PBLICOS DE COLOMBIA INCP INSTITUTE OF CHARTERED ACCOUNTANTS IN ENGLAND AND WALES ICAEW (PANELIST) ACCOUNTANCY EUROPE CENTERS FOR AUDIT QUALITY CANADIAN CENTRE FOR AUDIT QUALITY CCAQ US CENTER FOR AUDIT QUALITY CAQ ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT OECD GROUP OF LATIN AMERICAN ACCOUNTING STANDARD SETTERS - GLASS REGIONAL AND COUNTRY REGULATORY UPDATES COVERING POLITICAL DEVELOPMENTS IN THE EU INSIGHTS FOR THE PROFESSION US POLITICAL DEVELOPMENTS IMPLICATIONS FOR CONSIDERATION FOR THE PROFESSION THE GLOBAL JUNE FOF MEETING GAVE CONSIDERABLE FOCUS TO FURTHER UNDERSTANDING THE LATIN AMERICAN REGION AND HOW THE FOF CAN PROVIDE REGIONAL SUPPORT TO FURTHER ADVANCE AUDIT QUALITY IN LATIN AMERICA. PANEL SESSIONS FOCUSING ON TOPICAL ISSUES IN SUPPORT OF AUDIT QUALITY ATTRACTIVENESS OF THE PROFESSION LATIN AMERICA: CHALLENGES AND OPPORTUNITIES FACING THE PROFESSION IN ATTRACTING AND RETAINING TALENT WITH PRACTICAL INSIGHTS ON ADDRESSING TRENDS GLOBAL: CHALLENGES FACING THE PROFESSION IN ATTRACTING AND RETAINING TALENT WITH PRACTICAL INSIGHTS ON ADDRESSING TRENDS GLOBAL: ATTRACTIVENESS OF THE PROFESSION HOW CAN THE FIRMS CONTRIBUTE SUPPORTING FURTHER IMPROVING PUBLIC FINANCIAL MANAGEMENT GLOBAL PUBLIC SECTOR REPORTING ENVIRONMENT REGIONAL UPDATE ON ACCRUAL ADOPTION QUALITY MANAGEMENT (INTERNATIONAL STANDARD ON QUALITY MANAGEMENT ISQM) MONITORING AND REMEDIATION, AND EVALUATION REQUIREMENTS OF ISQM 1 PRACTICAL INSIGHTS SUPPORTING QUALITY MANAGEMENT ON SUSTAINABILITY REPORTING AND ASSURANCE PRELIMINARY INSIGHTS APPLYING ISQM (MINI PANEL) LATIN AMERICA: GLOBAL DEVELOPMENTS WITH THE PROFESSION CHALLENGES AND OPPORTUNITIES SUPPORTING AUDIT QUALITY IN LATIN AMERICA
named programs · 4 · from sources
What they call their work
Collaboration with IFAC on Practical Resources
Co-develops user-friendly tools and guidance with IFAC to support implementation of international standards, including on quality management (ISQM), sustainability reporting, and ethics.
Global and Regional Audit Quality Meetings
Hosts hybrid and in-person meetings (global, regional, and country-level) to share audit quality practices, facilitate professional development, and coordinate with IFAC events in locations such as Singapore, New York, Paris, Bogota, Dubai, and Delhi.
Stakeholder Engagement and Representation
Engages with international standard-setting bodies (e.g., IAASB, IESBA, ISSB) and regulators (e.g., PCAOB, FRC, CPAB) to provide input on audit quality, ethics, and sustainability assurance, and nominates members to serve on key boards.
Transnational Auditors Committee (TAC) Oversight
TAC governs the Forum’s operations, ensures compliance with membership obligations, and serves as the liaison between IFAC and Forum members to advance audit quality globally.
activities · 3 groups
What they do
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Workplace DEI Research and Training 1 activity
- Advance diversity, equity, and inclusion in accountancyIdentifies and profiles inspiring individuals from within its membership for IFAC's "Changemaker Series" to promote diversity, equity, and inclusion across the global accountancy profession.
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Professional Conference & Symposium Organization 1 activity
- Host global and regional audit quality learning eventsOrganized six hybrid meetings in 2024—including global, regional, and country-level gatherings—and hosted full-day audit quality events in Bogota, Dubai, and Delhi to expand access to audit quality training for members.
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Uncategorized 4 activities
- Conduct virtual governance meetings for standards oversightHosted a fully virtual meeting of the TAC (FOF Board) in January to manage nominations to the International Auditing and Assurance Standards Board (IAASB) and the International Ethics Standards Board for Accountants (IESBA).
- Deliver audit quality webinars for member engagementProduced a weekly webinar series on audit quality during the pandemic featuring panelists from member firms, averaging 2,000 attendees per session and achieving approximately 15,000 total registrations.
- Monitor member compliance in transnational auditsReceives annual reports from member firms to verify compliance with Forum of Firms membership obligations related to transnational audit quality and standards.
- Promote global standards for financial reporting and auditingAdvocates for consistent and high-quality standards of financial reporting and auditing practices worldwide to support users of financial statements.
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financials · form 990 · fy2024
revenue
Total revenue$19.98M
Contributions & grants$19.91M100%
Program service revenue$00%
Investment income$66K0%
Other revenue$62
expenses
Total expenses$20.05M
Program expenses—
Admin / overhead—
Fundraising—
Salaries & benefits$0
Grants paid out$0
Largest expense lineProfessional Fees
balance sheet
Total assets$6.78M
Cash$6.78M
Investments$0
Liabilities$5.34M
Net assets$1.44M
Liquid reserves4.1 mo
4 years on record · 2020–2024 · YoY revenue +7.5%
leadership · form 990 part vii · fy2024
Who runs it
paid leadership · 1
| Name | Title | Hours/wk | Compensation |
|---|---|---|---|
| BARRY NAIK | DIRECTOR | 5 | $369K |
board members · 24
- ANTONI GOMEZ — EXEC COMMITTEE
- BETTINA CASSEGRAIN — EXEC COMMITTEE
- BRIAN SMITH — SECRETARY
- CHRISTINE ALBRECHT — CHAIR - TAC
- DAVID CHITTY — EXEC COMMITTEE
- DAVID ISHERWOOD — CHAIR
- DAVID KANE — EXEC COMMITTEE
- ED FOX — EXEC COMMITTEE
- GARY HENGELSBERG — EXEC COMMITTEE
- JAMIE DRUMMOND — EXEC COMMITTEE
- JEAN-LUC BARLET — EXEC COMMITTEE
- JILL STARRS — EXEC COMMITTEE
- KATHERINE SCHAMERHORN — EXEC COMMITTEE
- LINA LEMESTO — EXEC COMMITTEE
- MARION HANNON — EXEC COMMITTEE
- MATTHEW COOK — EXEC COMMITTEE
- MATTHEW HALLETT — EXEC COMMITTEE
- MEGAN ZIETSMAN — EXEC COMMITTEE
- NAZIA LAKHANI — EXEC COMMITTEE
- NICK JEFFREY — EXEC COMMITTEE
- PABLO SAN MARTIN — EXEC COMMITTEE
- PAUL GINMAN — EXEC COMMITTEE
- RAMZI ALOUI — EXEC COMMITTEE
- SHERI ANDERSON — EXEC COMMITTEE
relationships · 18
Who they work with
- BDO Partner — Member network firm committed to Forum of Firms membership obligations for transnational audits.
- Baker Tilly International Limited Partner — Member network firm participating in the Forum of Firms for transnational audit standardization.
- Crowe Global Partner — Member network firm involved in the Forum of Firms to promote high-quality international audit practices.
- Deloitte Touche Tohmatsu Limited Partner — Member network firm adhering to Forum of Firms standards for transnational auditing.
- Ernst & Young Global Limited Partner — Member network firm participating in the Forum of Firms to support consistent global audit standards.
- Forvis Mazars Global Limited Partner — Member network firm committed to Forum of Firms obligations regarding transnational audit quality.
- Grant Thornton International Ltd Partner — Member network firm engaged with the Forum of Firms to advance audit quality across jurisdictions.
- HLB International Partner — Member network firm supporting the Forum of Firms’ mission of consistent international audit standards.
- International Auditing & Assurance Standards Board Government — Engages with IAASB through nominations and presentations to support standard-setting in auditing and assurance.
- International Ethics Standards Board for Accountants Government — Engages with IESBA through nominations and presentations to support development of international ethics standards.
- International Federation of Accountants Government — Serves as the official link between IFAC and the Forum of Firms through the Transnational Auditors Committee.
- International Federation of Accountants Partner — Collaborates with IFAC on joint meetings, development of practical resources, speaker panels, and professional development initiatives to advance audit quality.
- International Public Sector Accounting Standards Board Government — Maintains formal representation on the Consultative Advisory Group and Sustainability Reference Group of IPSASB.
- KPMG International Limited Partner — Member network firm complying with Forum of Firms requirements for transnational audit practice.
- Optimice International Partner — Affiliate organization participating in the Forum of Firms during pre-membership period.
- PricewaterhouseCoopers International Limited Partner — Member network firm participating in the Forum of Firms to promote high-quality global auditing.
- RSM International Partner — Member network firm aligned with Forum of Firms objectives for transnational audit consistency.
- Transnational Auditors Committee Network — Operates under the oversight of the Transnational Auditors Committee, which implements and advances the Forum's objectives.
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.
- Global Quality Assurance Frameworkmethodology: global-quality-assurance-frameworkBy requiring members to adhere to global quality management standards and coordinated internal reviews, the Forum ensures consistent, high-quality transnational audits because standardized oversight reduces variability and strengthens audit reliability across jurisdictions.
- Hybrid Access Model for Professional Learningmethodology: hybrid_access_modelBy offering hybrid meeting formats at global, regional, and country levels, the Forum increases accessibility and participation in audit quality learning because flexible engagement lowers barriers for geographically and economically diverse members.
- Strategic Event Co-Locationmethodology: strategic_event_co_locationBy co-locating FOF meetings with IFAC events, the Forum enhances member engagement and professional development opportunities because integrated scheduling increases attendance, reduces costs, and strengthens cross-organizational learning.