The International Federation of Accountants (IFAC) is a global organization that represents the accounting profession. Established in 1977, its primary goal is to support the development of high-quality international standards for accounting, auditing, and ethics. IFAC works with various stakeholders, including national accounting bodies and international organizations, to enhance the profession's credibility and effectiveness worldwide. IFAC also promotes the adoption of these standards to ensure consistency and transparency in financial reporting. By fostering collaboration among its members, IFAC aims to strengthen the global accounting profession and contribute to the overall stability of financial markets, benefiting economies and societies globally.