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The new guidance to help keep track of the ongoing evolution of accounting regulations is here. Thanks to the International Federation of Accountants, the guidance, “Making Regulation Work: Principles and Models for the Accountancy Profession,” provides a deep dive into the accounting regulation and its purpose, laying out some key principles.
“Making Regulation Work's" goal is to help professional membership groups for accountants around the world interact more effectively with stakeholders like governments and regulators when it comes to working out the best regulatory model for the profession, in order to produce better financial information and support economic growth and development.
The guidance also includes examples of regulatory models from a number of different countries.