2023-11-13T15:05:16-06:00 2022-12-31 872525370 CITRIN COOPERMAN ADVISORS LLC 290 W MT PLEASANT AVENUE 3310 LIVINGSTON NJ 07039 990 2022-01-01 132915461 INTERNATIONAL FEDERATION OF ACCOUNTANTS INTE 2122869344 529 FIFTH AVENUE 6TH FLOOR NEW YORK NY 100173622 HELEN PARTRIDGE DIRECTOR 2122869344 2023-11-09 1 HELEN PARTRIDGE 999009999 1 PAULA VUKSIC P00360739 9732180500 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z KEVIN DANCEY 529 FIFTH AVENUE 6TH FLOOR NEW YORK NY 100173622 34687457 0 X WWW.IFAC.ORG X 1977 SZ IFAC ACTS IN THE PUBLIC INTEREST AND HAS NO PROFIT-MAKING PURPOSE. IFAC SERVES THE PUBLIC INTEREST BY: SPEAKING OUT AND ENGAGING AS THE VOICE FOR THE GLOBAL PROFESSION; LEADING AND DEVELOPING A FUTURE-READY ACCOUNTANCY PROFESSION; AND CONTRIBUTING TO AND PROMOTING THE DEVELOPMENT, ADOPTION AND IMPLEMENTATION OF HIGH-QUALITY INTERNATIONAL STANDARDS. 23 23 85 282 0 0 30732553 34037653 0 0 -32307 3910 745568 645376 31445814 34686939 0 0 0 0 19743924 21209977 0 0 0 9677344 12238086 29421268 33448063 2024546 1238876 24926636 23950992 8745286 6530766 16181350 17420226 X IFAC ACTS IN THE PUBLIC INTEREST AND HAS NO PROFIT-MAKING PURPOSE. IFAC SERVES THE PUBLIC INTEREST BY: SPEAKING OUT AND ENGAGING AS THE VOICE FOR THE GLOBAL PROFESSION; LEADING AND DEVELOPING A FUTURE-READY ACCOUNTANCY PROFESSION; AND CONTRIBUTING TO AND PROMOTING THE DEVELOPMENT, ADOPTION AND IMPLEMENTATION OF HIGH-QUALITY INTERNATIONAL STANDARDS. 1 0 IFAC IS THE GLOBAL ORGANIZATION FOR THE ACCOUNTANCY PROFESSION DEDICATED TO SERVING THE PUBLIC INTEREST BY STRENGTHENING THE PROFESSION AND CONTRIBUTING TO THE DEVELOPMENT OF STRONG INTERNATIONAL ECONOMIES. IFAC IS COMPRISED OF MORE THAN 180 MEMBERS AND ASSOCIATES IN MORE THAN 135 JURISDICTIONS, REPRESENTING MORE THAN 3 MILLION ACCOUNTANTS IN PUBLIC PRACTICE, EDUCATION, GOVERNMENT SERVICE, INDUSTRY, AND COMMERCE. IFAC CONTRIBUTES TO AND SUPPORTS THE DEVELOPMENT, ADOPTION, AND IMPLEMENTATION OF HIGH-QUALITY INTERNATIONAL STANDARDS, LEADS AND DEVELOPS A FUTURE-READY ACCOUNTANCY PROFESSION, AND SPEAKS OUT AND ENGAGES AS THE VOICE FOR THE GLOBAL ACCOUNTING PROFESSION. 0 1 0 1 0 0 0 0 0 1 0 0 1 1 1 1 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 37 0 1 85 1 0 1 CA UK 0 0 0 0 0 0 X 23 23 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X THE ORGANIZATION 2122869344 529 FIFTH AVENUE 6TH FLOOR NEW YORK NY 100173622 ASMAA RESMOUKI PRESIDENT 16.00 X X 0 0 0 JEAN BOUQUOT DEPUTY PRESIDENT 2.00 X X 0 0 0 YEONG KYUN AHN BOARD MEMBER 2.00 X 0 0 0 GREGORY ANTON BOARD MEMBER 2.00 X 0 0 0 TASHIA BATSTONE BOARD MEMBER 2.00 X 0 0 0 KATHRYN BYRNE BOARD MEMBER 2.00 X 0 0 0 JOAN CURRY BOARD MEMBER 2.00 X 0 0 0 CAROLINE GARDNER BOARD MEMBER 2.00 X 0 0 0 ATUL GUPTA BOARD MEMBER 2.00 X 0 0 0 KOHEI KAN BOARD MEMBER 2.00 X 0 0 0 CHIARA MIO BOARD MEMBER 2.00 X 0 0 0 WINNIE IMINZA NYAMUTE BOARD MEMBER 2.00 X 0 0 0 LISA PADMORE BOARD MEMBER 2.00 X 0 0 0 MARGRET PETURSDOTTIR BOARD MEMBER 2.00 X 0 0 0 JEANINE POGGIOLINI BOARD MEMBER 2.00 X 0 0 0 TARYN RULTON BOARD MEMBER 2.00 X 0 0 0 FRANCISCO SANT'ANNA BOARD MEMBER 2.00 X 0 0 0 YACOOB SUTTAR BOARD MEMBER 2.00 X 0 0 0 JIANHUA TANG BOARD MEMBER 2.00 X 0 0 0 AYSE ARIAK TUNABOYLU BOARD MEMBER 2.00 X 0 0 0 SIDHARTA UTAMA BOARD MEMBER 2.00 X 0 0 0 FIONA WILKINSON BOARD MEMBER 2.00 X 0 0 0 ISMAILA MUHAMMADU ZAKARI BOARD MEMBER 2.00 X 0 0 0 KEVIN DANCEY CHIEF EXECUTIVE OFFICER 40.00 X 862760 0 77457 RUSSELL GUTHRIE CHIEF FINANCIAL OFFICER 40.00 X 577822 0 77894 JAMES GUNN MANAGING DIRECTOR 40.00 X 553477 0 95156 KEN SIONG SENIOR TECHNICAL DIRECTOR 40.00 X 382257 0 79244 WILLEM BOTHA PROGRAM & TECHNICAL DIREC 40.00 X 345689 0 78299 JOSEPH BRYSON DIRECTOR 40.00 X 213003 0 63397 STATHIS GOULD DIRECTOR 40.00 X 292526 0 76104 JENNIFER DICLERICO DIRECTOR 40.00 X 312834 0 76919 LINDA LACH DIRECTOR 40.00 X 256990 0 67802 BARRY NAIK DIRECTOR 35.00 5.00 X 260667 0 58668 CHRISTOPHER ARNOLD DIRECTOR 40.00 X 268476 0 41408 ELAINE YOUNG DIRECTOR 40.00 X 226390 0 73114 CLAUDIO GIROLAMI DIRECTOR 40.00 X 279500 0 47318 BRETT JAMES DIRECTOR, CHIEF OF OPERATIONS 40.00 X 284494 0 78423 DIANE JULES DIRECTOR 40.00 X 247992 0 72065 NATALIE KLONARIDIS DIRECTOR 40.00 X 262621 0 74394 DAVID MADON DIRECTOR 40.00 X 268267 0 44008 SCOTT HANSON DIRECTOR 40.00 X 266924 0 58822 HELEN PATRIDGE DIRECTOR 40.00 X 260999 0 71645 SALLY ANN BAILEY DIRECTOR 40.00 X 225973 0 71281 ROSS SMITH PROGRAM & TECHNICAL DIRECTOR 40.00 X 230288 0 22801 DAVE WARREN DIRECTOR 40.00 X 190072 0 21235 G FIGUERIREDO DIAS IESBA CHAIR 40.00 X 472669 0 0 LAURA LEKA PRINCIPAL -PAIB & INTEGRAT 40.00 X 229011 0 65467 J FONSECA PRINCIPAL 40.00 X 158414 0 0 E NG PRINCIPAL 40.00 X 161899 0 19736 J VANDEN HOUT PRINCIPAL 40.00 X 226937 0 15378 Z EILEEN PRINCIPAL 40.00 X 146188 0 0 8465139 0 1528035 55 0 1 0 VELOCITY GLOBAL LLC 3858 WALNUT STREET SUIT 107 DENVER CA 80205 PR PROFESSIONAL SERVICES 1279008 THOMAS R SEIDENSTEIN 4306 CHESTNUT STREET BETHESDA MD 20814 IAASB CHAIR 821248 FFW LLC 101 CRAWFORD CORNER ROAD HOLMDEL NJ 07733 PROFESSIONAL SERVICES 548070 IAN CARRUTHERS 15A THE TERRACE LONDON SW13 ONP OC IPSASB CHAIR 401704 DANIEL J EDELMAN INC 21992 NETWORK PLACE CHICAGO IL 60673 PR AGENCY CONSULTANT 373697 7 31386663 2062766 588224 34037653 3910 3910 339911 339911 518 -518 -518 FOREIGN EXCHANGE GAIN & OTHER 900099 298983 298983 MEMBERSHIP APPLICATION FEE 900099 7000 7000 305983 34686939 -518 0 649804 9186184 8710151 668354 1924537 720751 135087 137564 1918659 46996 70913 1009882 1277346 2102000 924111 62559 516766 136833 PUBLIC INTEREST OVERSIG 1526420 FOREIGN EXCHANGE LOSS 847194 COMMUNICATIONS AND PUBL 613771 OTHER COMMITTEE EXPENSE 282865 629120 33448063 18886784 15200262 138600 31101 721890 1273503 5248641 4139776 1293864 1108865 512108 517517 3480889 5712245 24926636 23950992 2270868 2424433 237779 567332 6236639 3539001 8745286 6530766 X 0 0 16181350 17420226 0 0 16181350 17420226 24926636 23950992 1238876 0 X X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 2954297 2197063 757234 1522825 1175663 347162 771519 767050 4469 1108865 ADVANCES / DEPOSITS 401178 FORUM OF FIRMS RECEIVABLES 243103 MISCELLANEOUS RECEIVABLES 342964 ADVANCE FUNDING PROVIDED TO THE FOUNDATION 4725000 5712245 EMPLOYEE ENTITLEMENTS 1603420 PENSION NOTE PAYABLE-NET 666503 PENSION NOTE PAYABLE-LONG TERM NET 1269078 3539001 X 34471462 518 518 34470944 215995 215995 34686939 33232586 518 518 33232068 215995 215995 33448063 PART X, LINE 2: IFAC HAS RECEIVED AN EXEMPTION FROM THE US INTERNAL REVENUE SERVICE (IRS) FROM FEDERAL INCOME TAXES UNDER SECTION 501(A), AS AN ENTITY DESCRIBED IN SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE OF 1986 (IRC), AS AMENDED. IFAC IS REQUIRED TO MAKE THE APPROPRIATE TAX PAYMENTS ON ANY INCOME CONSIDERED UNRELATED TO ITS EXEMPT PURPOSE. IFAC ALSO IS EXEMPT FROM SWISS INCOME TAXES. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES ADJUSTMENT 518. PART XI, LINE 4B - OTHER ADJUSTMENTS: FOREIGN EXCHANGE GAIN 215,995. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES ADJUSTMENT 518. PART XII, LINE 4B - OTHER ADJUSTMENTS: FOREIGN EXCHANGE GAIN 215,995. EUROPE 0 0 PROGRAM SERVICES DRAFTING, ACCOUNTING, LITERATURE 1161704 NORTH AMERICA 1 13 PROGRAM SERVICES DRAFTING, ACCOUNTING, LITERATURE 1796548 1 0 0 0 1 0 2958252 0 2958252 0 0 0 0 0 0 PART III ACCOUNTING METHOD: X X 1 1 X X X X X 0 0 0 KEVIN DANCEY CHIEF EXECUTIVE OFFICER 699235 0 163525 0 0 0 39750 0 37707 0 940217 0 0 0 RUSSELL GUTHRIE CHIEF FINANCIAL OFFICER 502097 0 75725 0 0 0 39750 0 38144 0 655716 0 0 0 JAMES GUNN MANAGING DIRECTOR 475752 0 77725 0 0 0 39750 0 55406 0 648633 0 0 0 G FIGUERIREDO DIAS IESBA CHAIR 405922 0 66747 0 0 0 0 0 0 0 472669 0 0 0 KEN SIONG SENIOR TECHNICAL DIRECTOR 326757 0 55500 0 0 0 25475 0 53769 0 461501 0 0 0 WILLEM BOTHA PROGRAM & TECHNICAL DIREC 297689 0 48000 0 0 0 24995 0 53304 0 423988 0 0 0 JENNIFER DICLERICO DIRECTOR 273834 0 39000 0 0 0 23238 0 53681 0 389753 0 0 0 STATHIS GOULD DIRECTOR 255526 0 37000 0 0 0 22475 0 53629 0 368630 0 0 0 BRETT JAMES DIRECTOR, CHIEF OF OPERATIONS 249494 0 35000 0 0 0 22355 0 56068 0 362917 0 0 0 NATALIE KLONARIDIS DIRECTOR 234121 0 28500 0 0 0 21155 0 53239 0 337015 0 0 0 HELEN PATRIDGE DIRECTOR 230499 0 30500 0 0 0 18212 0 53433 0 332644 0 0 0 CLAUDIO GIROLAMI DIRECTOR 245500 0 34000 0 0 0 22175 0 25143 0 326818 0 0 0 SCOTT HANSON DIRECTOR 235424 0 31500 0 0 0 21091 0 37731 0 325746 0 0 0 LINDA LACH DIRECTOR 229990 0 27000 0 0 0 20975 0 46827 0 324792 0 0 0 DIANE JULES DIRECTOR 216492 0 31500 0 0 0 15500 0 56565 0 320057 0 0 0 BARRY NAIK DIRECTOR 230667 0 30000 0 0 0 20975 0 37693 0 319335 0 0 0 DAVID MADON DIRECTOR 235767 0 32500 0 0 0 21275 0 22733 0 312275 0 0 0 CHRISTOPHER ARNOLD DIRECTOR 235476 0 33000 0 0 0 21275 0 20133 0 309884 0 0 0 ELAINE YOUNG DIRECTOR 208890 0 17500 0 0 0 19737 0 53377 0 299504 0 0 0 SALLY ANN BAILEY DIRECTOR 225973 0 0 0 0 0 20975 0 50306 0 297254 0 0 0 LAURA LEKA PRINCIPAL -PAIB & INTEGRAT 206011 0 23000 0 0 0 12479 0 52988 0 294478 0 0 0 JOSEPH BRYSON DIRECTOR 177503 0 35500 0 0 0 11660 0 51737 0 276400 0 0 0 ROSS SMITH PROGRAM & TECHNICAL DIRECTOR 194074 0 36214 0 0 0 14423 0 8378 0 253089 0 0 0 J VANDEN HOUT PRINCIPAL 207213 0 19724 0 0 0 10172 0 5206 0 242315 0 0 0 DAVE WARREN DIRECTOR 168029 0 22043 0 0 0 11732 0 9503 0 211307 0 0 0 E NG PRINCIPAL 145760 0 16139 0 0 0 10010 0 9726 0 181635 0 0 0 J FONSECA PRINCIPAL 143456 0 14958 0 0 0 0 0 0 0 158414 0 0 0 PART I, LINE 1A PAYMENT/REIMBURSEMENT OF EXPENSES INDICATED IN LINE 1A IS DONE IN ACCORDANCE WITH THE TRAVEL POLICY FOR THE ORGANIZATION'S OFFICERS APPROVED BY THE GOVERNING BOARD OF THE ORGANIZATION. IN ACCORDANCE WITH THE POLICY, THE OFFICERS(AND THEIR SPOUSES, WHICH INCLUDE PARTNERS, WHEN TRAVELING FOR THE ORGANIZATION'S PURPOSES) MAY TRAVEL IN BUSINESS CLASS AT ANY TIME. THE PRESIDENT AND CEO MAY ELECT TO TRAVEL FIRST CLASS. IN ACCORDANCE WITH THE POLICY, THE ORGANIZATION REIMBURSES THE TRAVEL OF SPOUSES OF THE PRESIDENT AND CEO FOR TRAVEL ASSOCIATED WITH COUNCIL MEETINGS OR OTHER CIRCUMSTANCES WHEN SPOUSAL ATTENDANCE IS APPROPRIATE. THE POLICY ADDRESSES: TRAVEL AUTHORIZATION AND RESERVATIONS; MAKING RESERVATIONS; CLASS OF SERVICE AND FARE; UPGRADES FOR TRAVEL; NUMBER OF IFAC PERSONNEL PER AIRCRAFT; ELECTRONIC TICKETS; PREPAID, LOST AND UNUSED TICKETS; SPOUSAL TRAVEL; COMBINING LEISURE WITH BUSINESS TRAVEL; EXCESS BAGGAGE FEES; GROUND TRANSPORT; ACCOMMODATION; MEALS AND ALCOHOL; GUIDELINES FOR TIPS AND GRATUITIES; PASSPORTS, VISAS AND IMMUNIZATIONS; INSURANCE; TRAVEL WARNINGS; TAX REFUNDS; EXPENSE CLAIMS; SUPPORTING DOCUMENTATION; INCORRECT OR INCOMPLETE EXPENSE CLAIMS. FORM 990, PART III, LINE 2 IFAC FACILITATES THE STRUCTURES AND PROCESSES THAT SUPPORT THE OPERATIONS OF THE FOLLOWING INDEPENDENT STANDARD-SETTING BOARDS: INTERNATIONAL AUDITING AND ASSURANCE STANDARDS BOARD (IAASB) INTERNATIONAL ETHICS STANDARDS BOARD FOR ACCOUNTANTS (IESBA) INTERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARDS BOARD (IPSASB) THE IAASB AND IESBA DEVELOP INTERNATIONAL STANDARDS UNDER A SHARED STANDARD-SETTING PROCESS INVOLVING THE PUBLIC INTEREST OVERSIGHT BOARD (PIOB). THE PIOB OVERSEES THE ACTIVITIES OF THESE BOARDS AND THEIR CONSULTATIVE ADVISORY GROUPS. THE CONSULTATIVE ADVISORY GROUPS PROVIDE PUBLIC INTEREST INPUT INTO THE DEVELOPMENT OF THE STANDARDS. PUBLIC INTEREST OVERSIGHT FOR THE IPSASB AND ITS CONSULTATIVE ADVISORY GROUP ARE PROVIDED BY THE PUBLIC INTEREST COMMITTEE (PIC). EFFECTIVE JANUARY 1, 2023, THE INTERNATIONAL FOUNDATION FOR ETHICS AND AUDIT (THE "FOUNDATION"), WILL HOUSE TWO STANDARD SETTING BOARDS FORMERLY WITHIN IFAC, NAMELY, IESBA AND IAASB. THE FOUNDATION IS A DELAWARE NONPROFIT ENTITY, INCORPORATED UNDER SECTION 501(C)(3) OF THE UNITED STATES INTERNAL REVENUE CODE. THE OBJECTIVE OF THE FOUNDATION IS TO RECOGNIZE AND SUPPORT THE DEFENSE OF THE PUBLIC INTEREST THROUGHOUT THE ENTIRE STANDARD SETTING PROCESS IN AUDIT AND ETHICS RELATED FIELDS; AND THROUGH ITS STANDARD-SETTING BOARDS, TO CONDUCT RESEARCH TO SUPPORT THE DEVELOPMENT, ADOPTION AND IMPLEMENTATION OF INTERNATIONAL STANDARDS IN THE FIELD OF AUDIT, ASSURANCE AND ETHICS, AND TO EDUCATE AND INFORM STAKEHOLDERS AND INTERESTED PARTIES REGARDING THE SAME. IN DECEMBER 2022, IFAC MADE THE FIRST QUARTER CONTRIBUTION FOR 2023 TO THE FOUNDATION, IN THE AMOUNT OF $4,725,000, IN LINE WITH THE FUNDING AGREEMENT. FOR THE YEAR ENDING DECEMBER 31, 2022, THIS CONTRIBUTION HAS BEEN RECORDED AS AN ADVANCE IN THE STATEMENT OF FINANCIAL POSITION. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION'S MEMBERS/STOCKHOLDERS: IFAC IS COMPOSED OF PROFESSIONAL ACCOUNTANCY ORGANIZATIONS THAT MEET THE MEMBER ADMISSION CRITERIA AND OBLIGATIONS SET FORTH IN ITS CONSTITUTION AND BYLAWS. THE COUNCIL APPROVES THE ADMISSION OF MEMBERS, UPON RECOMMENDATION OF THE BOARD. FORM 990, PART VI, SECTION A, LINE 7A UNDER IFAC'S CONSTITUTION, EACH FULL MEMBER IN GOOD STANDING HAS ONE VOTE, WHICH MAY BE CAST AT ANY COUNCIL MEETING. FORM 990, PART VI, SECTION A, LINE 7B THE GOVERNING BODIES OF IFAC ARE THE COUNCIL AND THE BOARD. THE OFFICERS OF IFAC ARE THE PRESIDENT, THE DEPUTY PRESIDENT, THE CHIEF EXECUTIVE OFFICER, AND SUCH OTHER OFFICERS AS THE BOARD SHALL DEEM NECESSARY. THE COUNCIL IS THE SUPREME AUTHORITY OF IFAC AND IS VESTED WITH THE ULTIMATE GOVERNANCE AUTHORITY OVER IFAC. THE COUNCIL DELEGATES THE POWER TO GOVERN AND OVERSEE THE OPERATIONS OF IFAC TO THE BOARD. THE COUNCIL HAS THE EXCLUSIVE RIGHT, POWER, AND AUTHORITY TO, UPON RECOMMENDATION OF THE BOARD, APPROVE THE APPOINTMENT OF MEMBERS OF THE NOMINATING COMMITTEE AS SET FORTH IN SECTION IX OF THE CONSTITUTION AND THE BYLAWS AND SUBJECT TO ANY APPROVAL BY THE RELEVANT PUBLIC INTEREST OVERSIGHT AUTHORITY; THE AMENDMENT OR REPEAL OF BYLAWS OR THE ENACTMENT OF NEW BYLAWS; AND AMENDMENTS TO THE CONSTITUTION. UPON RECOMMENDATION OF THE NOMINATING COMMITTEE, AS ENDORSED BY THE BOARD, APPROVE THE APPOINTMENT AND REMOVAL OF THE PRESIDENT AND THE DEPUTY PRESIDENT, AND THE APPOINTMENT AND REMOVAL OF THE MEMBERS OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE INTERNATIONAL FEDERATION OF ACCOUNTANTS ENGAGES AN INDEPENDENT CPA TAX PROFESSIONAL TO PREPARE THE FORM 990. BOARD MEMBERS GENERALLY FEEL THAT IT IS THE APPROPRIATE FIDUCIARY PROCESS. IT IS THE BOARD OR AUDIT COMMITTEE'S ROLE TO EVALUATE THE PERSON(S) OR FIRM HIRED TO PREPARE THE TAX RETURN AND TO DETERMINE THAT THE RETURN IS APPROPRIATELY FILED. THE IFAC AUDIT COMMITTEE HAS BEEN CHARGED WITH SUCH RESPONSIBILITY AND HAS TAKEN APPROPRIATE STEPS IN THAT REGARD. ADDITIONALLY, A REVIEW OF THE FINAL VERSION OF THE FORM 990 WAS PERFORMED BY A MEMBER OF THE AUDIT COMMITTEE WHO IS A US CPA AND RESIDES IN THE UNITED STATES, AS WELL AS, MEMBERS OF THE IFAC'S FINANCE MANAGEMENT TEAM. FORM 990, PART VI, SECTION B, LINE 12C THE IFAC BYLAWS REQUIRE EACH BOARD MEMBER TO SIGN AN INDEPENDENCE (CONFLICT OF INTEREST) DECLARATION AT THE BEGINNING OF EACH YEAR. BOARD MEMBERS ARE SENSITIVE TO ANY INTERESTS THEY MAY HAVE IN A DECISION TO BE MADE BY THE BOARD AND, TO THE EXTENT POSSIBLE, RECOGNIZE SUCH INTEREST PRIOR TO THE DISCUSSION OR PRESENTATION OF SUCH MATTER BEFORE THE BOARD. UPON RECOGNIZING THE EXISTENCE OF THE CONFLICT, REGARDLESS OF THE DEGREE OF MATERIALITY, THE BOARD MEMBER DISCLOSES THE CONFLICT TO THE BOARD BEFORE THE BOARD TAKES ACTION ON THE MATTER. THE CONFLICTED BOARD MEMBER DOES NOT PARTICIPATE IN THE BOARDS DELIBERATION AND ABSTAINS FROM ALL VOTES RELATING TO THE MATTER AT CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 THE REMUNERATION OF THE CHIEF EXECUTIVE OFFICER IS RECOMMENDED BY THE HUMAN RESOURCES AND COMPENSATION COMMITTEE (HRCC) AND IS APPROVED BY THE IFAC BOARD. THE HRCC CONSISTS OF AT LEAST THREE (3) MEMBERS OF THE BOARD, INCLUDING THE PRESIDENT, DEPUTY PRESIDENT, AND THE CHAIR OF THE AUDIT COMMITTEE. THE HRCC IS RESPONSIBLE FOR REVIEWING AND PROVIDING FEEDBACK ON AN ANNUAL REPORT OF BOTH THE SALARIES AND BONUSES FOR IFAC EXECUTIVE STAFF, ALL DETERMINED BY THE CEO IN ACCORDANCE WITH THE IFAC COMPENSATION POLICIES. FORM 990, PART VI, SECTION C, LINE 19 THE PUBLIC CAN ACCESS THESE DOCUMENTS LISTED BY VISITING THE ORGANIZATION'S WEBSITE AT HTTP://WWW.IFAC.ORG AND/OR UPON REQUEST. FORM 990, PART XII, LINE 2C: THERE WAS NO CHANGE IN THE OVERSIGHT PROCEDURES. FORUM OF FIRMS 529 FIFTH AVENUE 6TH FLOOR NEW YORK NY 100173622 141858441 PROMOTE CONSISTENT & QUALITY STANDARD OF FINANCIAL REPORTING NY 501(C)(6) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 FORUM OF FIRMS Q 596014 ALLOCATION OF COSTS SCHEDULE R, PART II, NAME OF RELATED ORGANIZATION: INTERNATIONAL FOUNDATION FOR ETHICS AND AUDIT PRIMARY ACTIVITY: THROUGHOUT THE ENTIRE STANDARD SETTING PROCESS IN AUDIT AND ETHICS RELATED FIELDS AND ALSO CONDUCT RESEARCH TO SUPPORT THE DEVELOPMENT, ADOPTION AND IMPLEMENTATION STANDARDS IN THE FIELD OF AUDIT, ASSURANCE AND ETHICS, AND TO EDUCATE AND INFORM STAKEHOLDERS AND INTERESTED PARTIES REGARDING THE SAME. SCHEDULE R, PART V, LINE 1Q: 2022 TAC EXPENSES REIMBURSED BY FORUM OF FIRMS TO INTERNATIONAL FEDERATION OF ACCOUNTANTS: - SALARY AND BENEFITS: $ 451,359. - OTHER EXPENSES: $ 144,655. TOTAL 2022 TAC EXPENSES: $ 596,014.