IECnet Member elected to the Transnational Auditors Committee of IFAC

Frederic Borràs is IECnet’s representative at the Forum of Firms. He was elected by the member firms of the Forum of Firms to become a member of the Transnational Auditors Committee (TAC) of the International Federation of Accountants (IFAC) for a period of 2 years starting on 1^st January 2020.

Frederic Borràs is an IECnet Board member, the Chairman of the IECnet Committee on Audit and partner of Morera Asesores & Auditores, the member firm of IECnet in Barcelona (Spain).

The Forum of Firms (FoF, Forum) is an independent association of international networks of firms that perform transnational audits. The objective of the Forum is to promote consistent and high-quality standards of financial reporting and auditing practices worldwide—bringing together firms that perform transnational audits and involving them more closely with IFAC’s activities in audit and other assurance-related areas. Members of the FoF must demonstrate their commitment to adhere to and promote the consistent application of high-quality audit practices worldwide.

IECnet has been a member of the Forum of Firms since 2009, and is one of 31 member networks of the Forum.

The IFAC Transnational Auditors Committee (TAC) serves as the official link between IFAC and the FoF. It is broadly responsible for implementing and advancing the FoF’s objectives and operations, and plays a major role in encouraging members of the FoF to conduct high-quality international audits by requiring the commitment to comply with certain international standards as a condition of membership.

The TAC also supports audit quality by:

– Identifying audit practice issues and making recommendations to the appropriate standard-setting boards to review these issues as needed;

-Providing a forum to discuss best practices in areas including quality control, auditing, independence, and training and continuing professional development;

-Facilitating interaction among transnational firms, international regulators, and financial institutions with regard to audit quality, systems of quality control, and transparency of international networks;

-Identifying qualified candidates to serve on the international standard-setting boards.

IECnet is proud to have Frederic Borràs as a standard bearer in the audit profession.

For more information, please go to www.iecnet.net.

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