We are the global organization for the accountancy profession, comprising more than 175 member and associate organizations in 130 countries and jurisdictions, representing nearly 3 million professional accountants. The FAP reports that 10 separate trainings and seminars on the 2016 ISA have been conducted in 2016, with two courses being conducted in collaboration with the Bank of Thailand and the Office of Insurance Commission. We invite fellow like minded professionals to form a Group in North Delhi for quality knowledge sharing, to help each other and grow together.. New York, New York 10017. As a result, the FAP reports that although there are two QA review systems, it collaborates with the SEC to ensure there is no duplication of reviews. These valuable works are the product of substantial time, effort and resources, which you acknowledge by accepting the following terms of use. Page 1 of 60 jobs. As of this assessment, a total of four training classes have been conducted reaching 118 auditors representing 62 different firms. IFAC Member Bodies and Associates are accounting organizations that are members of the International Federation of Accountants (IFAC) or that are associated with IFAC. As of March 2018, the FAP has translated and incorporated the revised IES into its IPD and CPD program. The institute also notes that it is active in the international standard-setting process and provides comments to exposure drafts issued by the IASB. 133 Sukhumvit 21 Road (Asok), Klong toei Nua, WatthanaBangkok 10110ThailandTel: 0-2685-2500Fax: 0-2685-2501fap@fap.or.thhttp://www.fap.or.th/. FEDERATION OF ACCOUNTING PROFESSIONS UNDER THE ROYAL PATRONAGE OF HIS MAJESTY THE KING The guidance indicates that if the company has any particular measures that practically and significantly lessen the risks, those measures may also be described. We speak out as the voice of the global accounting profession. In the next update of its SMO Action Plan, the FAP is encouraged to report on its efforts to finalize the adoption of IFRS for SMEs. CPA Canada is the national organization established to support unification of the Canadian accounting profession under the Chartered Professional Accountant (CPA) designation. Accounting jobs via Accountingjobs.ca. Insights, resources and tools from leading voices in accountancy and business. The organization chart of the FAP is as follows: Members of International Federation of Accountants member bodies. Additionally, to support the implementation of the standards, the FAP conducts training seminars and workshops on a regular basis to ensure professional accountants, stakeholders, regulators, and academics understand the accounting standards. 114 likes. [CDATA[ ":"&")+"url="+encodeURIComponent(b)),f.setRequestHeader("Content-Type","application/x-www-form-urlencoded"),f.send(a))}}}function B(){var b={},c;c=document.getElementsByTagName("IMG");if(!c.length)return{};var a=c[0];if(! Under the Act, the accounting professions initially cover six areas, viz, bookkeeping, auditing, financial accounting, managerial accounting, accounting systems, tax accounting, and accounting education and technology. We work to prepare a future-ready accounting profession. Membership Obligations form the basis of the IFAC Member Compliance Program. The Pan African Federation of Accountants (PAFA) is the continental body representing Africa's Professional Accountants. Other Business & Consulting Services. The FAP awards the Certified Public Accountant designation and membership is mandatory for all auditors and bookkeepers. The FAP conducted an assessment of its I&D system against the requirements of SMO 6 and identified that QA reviews are not linked with the system. Current //]]>. We support the development, adoption, and implementation of high-quality international standards. However, as per the Accounting Professional Act B.E. What is the abbreviation for Federation of Accounting Profession? In November 2014, the FAP launched a capacity building project with the SEC to improve the quality of audit work and to increase the number of listed auditors and firms that are qualified and ready for filing with the SEC. The Accountant Association of Thailand was originally established in 1948, then renamed the Institute of Certified Accountants and Auditors of Thailand in 1975 before assuming its current name, the Federation of Accounting Professions (FAP) in 2004. Federation of Tax and Accounting Professionals. Thank you for your interest in our publications. 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