2017-11-06T10:01:31-06:00 2016-12-31 222428965 CITRIN COOPERMAN & COMPANY LLP 709 WESTCHESTER AVENUE WHITE PLAINS NY 10604 990 2016-01-01 132915461 INTERNATIONAL FEDERATION OF ACCOUNTANTS INTE 2122869344 529 FIFTH AVENUE 6TH FLOOR NEW YORK NY 100173622 RUSSELL GUTHRIE CFO 2122869344 2017-11-06 1 BARBARA LANE CPA P00005830 9149492990 100.2.246.82 2017-11-06 10:56:35 ES P 03C3446E68204F99E614400739F2396D262B1FEA 03C3446E68204F99E614400739F2396D262B1FEA 2016 2021-01-29 14:40:06Z FAYEZUL CHOUDHURY 529 FIFTH AVENUE 6TH FLOOR NEW YORK NY 100173622 33164653 0 X WWW.IFAC.ORG X 1977 SZ IFAC SERVES THE PUBLIC INTEREST AND STRENGTHENS THE ACCOUNTANCY PROFESSION BY SUPPORTING THE DEVELOPMENT OF HIGH-QUALITY INTERNATIONAL STANDARDS, PROMOTING THE ADOPTION AND IMPLEMENTATION OF THESE STANDARDS, BUILDING THE CAPACITY OF PROFESSIONAL ACCOUNTANCY ORGANIZATIONS, AND SPEAKING OUT ON PUBLIC INTEREST ISSUES. 23 23 80 175 0 0 29959744 32055274 0 0 -180 24460 827979 1055952 30787543 33135686 0 0 0 0 16121380 17502893 0 0 0 14839614 15133331 30960994 32636224 -173451 499462 16099415 16820126 6564046 6785295 9535369 10034831 SEE SCHEDULE O 0 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. IT IS COMPRISED OF MORE THAN 175 MEMBERS AND ASSOCIATES IN 130 COUNTRIES AND JURISDICTIONS, REPRESENTING ALMOST 3 MILLION ACCOUNTANTS IN PUBLIC PRACTICE, EDUCATION, GOVERNMENT SERVICE, INDUSTRY, AND COMMERCE. IFAC'S STRUCTURE AND GOVERNANCE ARE DESIGNED TO PROMOTE TRANSPARENCY, TO FACILITATE COLLABORATION WITH MEMBERS AND CONSULTATION WITH STAKEHOLDERS, AND TO ENSURE THE EFFECTIVE OPERATIONS OF THE ORGANIZATION. 0 1 0 1 0 0 0 0 0 1 0 0 1 1 0 1 0 0 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 1 33 0 1 80 1 0 1 CA AS UK 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 ORGANIZATION 2122869344 529 FIFTH AVENUE 6TH FLOOR NEW YORK NY 100173622 JAMES STANFORD TECHNICAL DIRECTOR 40.00 X X 213040 0 2866 RUSSELL GUTHRIE EXECUTIVE DIRECTOR 40.00 X X 589569 0 60761 JAMES GUNN MANAGING DIRECTOR 40.00 X 462556 0 73000 ALTA PRINSLOO EXECUTIVE DIRECTOR 40.00 X X 556162 0 77434 SYLVIA TSEN SENIOR DIRECTOR 35.00 5.00 X 362691 0 48355 KEEAN SIONG TECHNICAL DIRECTOR 40.00 X 315778 0 61229 KELLY ANERUD DIRECTOR 40.00 X 310895 0 49639 PAUL THOMPSON DIRECTOR 40.00 X 335738 0 50642 LAURA WILKER DIRECTOR 40.00 X 279057 0 50749 FAYEZUL CHOUDHURY CEO 40.00 X X 884764 0 38345 KATHLEEN K HEALY TECHNICAL DIRECTOR 40.00 X 269360 0 39057 LINDA LACH DIRECTOR 40.00 X 253468 0 59153 GARY PFLUGRATH DIRECTOR 40.00 X 274824 0 43005 RACHEL GRIMES PRESIDENT 16.00 X X 0 0 0 IN-KI JOO DEPUTY PRESIDENT 16.00 X 0 0 0 VINCENT TOPHOFF SENIOR TECHNICAL MANAGER 40.00 X 199765 0 53450 BRADLEY WILLIAMS SENIOR TECHNICAL MANAGER 40.00 X 203557 0 57365 AMIR GHANDAR DEPUTY DIRECTOR 40.00 X 223504 0 50471 STATHIS GOULD SENIOR TECHNICAL MANAGER 40.00 X 213599 0 56336 JOSEPH BRYSON SENIOR TECHNICAL MANAGER 40.00 X 204406 0 57259 6152733 0 929116 65 0 1 0 ARNOLD SCHILDER WOKENVELD 26 1359 HB NLALMERE NL IAASB CHAIR 699996 STAVROS THOMADAKIS 43 UPLAND ROAD CAMPRIDGE MA 02140 IESBA CHAIR 500000 IAN CARRUTHERS 15A THE TERRACE LONDON UK SW13 ONP IPSASB CHAIR 153772 FINN PARTNERS 301 E 57TH STREET NEW YORK NY 10022 WEBSITE SUPPORT 141047 CITRIN COOPERMAN & COMPANY LLP 529 FIFTH AVENUE NEW YORK NY 10017 AUDITING & CONSULTATION SERVICES 121368 5 30657279 1070460 327535 32055274 24460 24460 276162 276162 110943 28967 81976 81976 FOREIGN EXCHANGE GAIN 900099 690414 690414 MEMBERSHIP APPLICATION FEE 900099 7400 7400 697814 33135686 81976 0 998436 7081851 7664801 864771 1110238 781232 182117 204566 3111189 29756 61868 641183 1157939 3864907 1202619 499565 152057 COMMUNICATIONS AND PUBL 1033378 PUBLIC INTEREST OVERSIG 1026840 FOREIGN EXCHANGE LOSS 705358 OTHER COMMITTEE EXPENSE 371866 888123 32636224 12203071 12311647 16000 19968 14746 317319 634596 4672664 2331055 2542059 2341609 7978 2199 1009020 1499329 16099415 16820126 3508936 3550286 552114 713305 2502996 2521704 6564046 6785295 X 0 0 9535369 10034831 0 0 9535369 10034831 16099415 16820126 499462 0 X X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 0 1 0 2909093 997277 1911816 1037785 827053 210732 725786 506725 219061 2341609 ADVANCES / DEPOSITS 638598 FORUM OF FIRMS RECEIVABLES 203198 MISCELLANEOUS RECEIVABLES 657533 1499329 ACCRUED PENSION COSTS 248834 ACCRUED SALARIES 2272870 2521704 32606867 28967 28967 32577900 557786 557786 33135686 32107405 28967 28967 32078438 557786 557786 32636224 PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES 28,967. PART XI, LINE 4B - OTHER ADJUSTMENTS: FOREIGN EXCHANGE GAIN 557,786. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES 28,967. PART XII, LINE 4B - OTHER ADJUSTMENTS: FOREIGN EXCHANGE GAIN 557,786. EAST ASIA AND THE PACIFIC 0 2 PROGRAM SERVICESPROGRAM SERVICES DRAFTING, ACCOUNTING, LITERATURE 485305 NORTH AMERICA 1 9 PROGRAM SERVICES DRAFTING, ACCOUNTING, LITERATURE 1217546 EUROPE 0 1 PROGRAM SERVICES DRAFTING, ACCOUNTING, LITERATURE 1267171 EUROPE 0 1 PROGRAM SERVICES DRAFTING, ACCOUNTING, LITERATURE 128437 1 13 0 0 1 13 3098459 0 3098459 0 0 0 0 0 0 X X 1 1 X X X X X 0 0 0 JAMES STANFORD TECHNICAL DIRECTOR 185931 0 27109 0 0 0 0 0 2866 0 215906 0 0 0 RUSSELL GUTHRIE EXECUTIVE DIRECTOR 499169 0 90400 0 0 0 35000 0 25761 0 650330 0 0 0 JAMES GUNN MANAGING DIRECTOR 393356 0 69200 0 0 0 35000 0 38000 0 535556 0 0 0 ALTA PRINSLOO EXECUTIVE DIRECTOR 465762 0 90400 0 0 0 35000 0 42434 0 633596 0 0 0 SYLVIA TSEN SENIOR DIRECTOR 310991 0 51700 0 0 0 35000 0 13355 0 411046 0 0 0 KEEAN SIONG TECHNICAL DIRECTOR 255778 0 60000 0 0 0 21420 0 39809 0 377007 0 0 0 KELLY ANERUD DIRECTOR 233895 0 77000 0 0 0 15076 0 34563 0 360534 0 0 0 PAUL THOMPSON DIRECTOR 261738 0 74000 0 0 0 19276 0 31366 0 386380 0 0 0 LAURA WILKER DIRECTOR 234057 0 45000 0 0 0 15300 0 35449 0 329806 0 0 0 FAYEZUL CHOUDHURY CEO 603564 0 281200 0 0 0 35000 0 3345 0 923109 0 0 0 KATHLEEN K HEALY TECHNICAL DIRECTOR 186360 0 83000 0 0 0 10554 0 28503 0 308417 0 0 0 LINDA LACH DIRECTOR 208468 0 45000 0 0 0 18960 0 40193 0 312621 0 0 0 GARY PFLUGRATH DIRECTOR 229824 0 45000 0 0 0 25300 0 17705 0 317829 0 0 0 VINCENT TOPHOFF SENIOR TECHNICAL MANAGER 179765 0 20000 0 0 0 17310 0 36140 0 253215 0 0 0 BRADLEY WILLIAMS SENIOR TECHNICAL MANAGER 186307 0 17250 0 0 0 17640 0 39725 0 260922 0 0 0 AMIR GHANDAR DEPUTY DIRECTOR 201254 0 22250 0 0 0 12150 0 38321 0 273975 0 0 0 STATHIS GOULD SENIOR TECHNICAL MANAGER 192599 0 21000 0 0 0 17910 0 38426 0 269935 0 0 0 JOSEPH BRYSON SENIOR TECHNICAL MANAGER 181406 0 23000 0 0 0 17116 0 40143 0 261665 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. RUSSELL GUTHRIE EXECUTIVE DIRECTOR REFUNDABLE RELOCATION ASSISTANCE X 4000 4000 0 0 1 ALTA PRINSLOO EXECUTIVE DIRECTOR REFUNDABLE RELOCATION ASSISTANCE X 3923 1281 0 0 1 STATHIS GOULD SR. TECHNICAL MANAGER REFUNDABLE RELOCATION ASSISTANCE X 2900 2900 0 0 1 AMIR GHANDAR DEPUTY DIRECTOR REFUNDABLE RELOCATION ASSISTANCE X 4515 4515 0 0 1 JOSEPH BRYSON DEPUTY DIRECTOR REFUNDABLE RELOCATION ASSISTANCE X 2050 2050 0 0 1 14746 FORM 990, PART III, LINE 1: SEE ABOVE DESCRIPTION OF THE MISSION OF THE ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION'S MEMBERS/STOCKHOLDERS: IFAC IS THE GLOBAL ORGANIZATION FOR THE ACCOUNTANCY PROFESSION. ITS MEMBERS ARE MEMBER ORGANIZATIONS. THE CONSTITUTION DESCRIBES A "MEMBER" AS A PROFESSIONAL ACCOUNTANCY ORGANIZATION THAT HAS BEEN ADMITTED TO IFAC AND HAS RETAINED ITS MEMBERSHIP IN GOOD STANDING. EACH MEMBER HAS ONE VOTE. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNANCE OF IFAC ULTIMATELY RESTS WITH THE COUNCIL. THE COUNCIL GRANTS THE BOARD THE AUTHORITY TO GOVERN THE OPERATIONS OF IFAC AS SET OUT IN THE IFAC CONSTITUTION AND BYLAWS. THE COUNCIL APPOINTS THE NOMINATING COMMITTEE, ELECTS THE DEPUTY PRESIDENT (WITH THE INTENTION TO SUCCEED TO THE OFFICE OF THE PRESIDENT AFTER TWO YEARS) AND THE MEMBERS OF THE BOARD, DETERMINES AND RECEIVES REPORTS ON PROGRESS ON THE POLICY AND STRATEGY INITIATIVES, DETERMINES ADMISSIONS AND EXPULSIONS, DETERMINES THE BASIS OF THE ASSESSMENT OF FINANCIAL CONTRIBUTIONS FROM MEMBERS, DETERMINES AMENDMENTS TO THE IFAC CONSTITUTION AND BYLAWS, AND DETERMINES THE APPOINTMENT OF THE AUDITOR. (IFAC CONSTITUTION, SECTION 12.2). FORM 990, PART VI, SECTION A, LINE 7B THE COUNCIL CANNOT TAKE ANY ACTION ON ANY MATTERS COMING BEFORE IT AT ORDINARY OR SPECIAL MEETINGS UNLESS THERE IS A QUORUM. (IFAC CONSTITUTION, ARTICLE 15.1) EACH MEMBER REPRESENTATIVE HAS ONE VOTE. THE METHOD FOR SUBSTANTIVE MATTERS TO BE CONSIDERED AT THE ORDINARY MEETING IS DETERMINED BY THE AGREEMENT OF 6 MEMBERS (IFAC BYLAWS SECTION 16.1(A)). A MEMBER MAY FOR AN ORDINARY OR SPECIAL MEETING GIVE A PROXY TO CAST ITS VOTE ON BEHALF OF THAT MEMBER. (IFAC BYLAWS, ARTICLE 19.1) THE IFAC CONSTITUTION, ARTICLE 16 ADDRESSES VOTING PROCEDURES AND MAJORITY REQUIREMENTS. 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 RESIDING AND PRACTICING AS A CPA 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 DETERMINED BY THE PRESIDENT, DEPUTY PRESIDENT, AND CHAIR OF THE AUDIT COMMITTEE. THE CHIEF EXECUTIVE OFFICER'S EMPLOYMENT CONTRACT, INCLUDING HIS REMUNERATION, IS APPROVED BY THE IFAC BOARD. THE REMUNERATION OF THE DIRECTORS ARE DETERMINED BY THE CHIEF EXECUTIVE OFFICER IN CONSULTATION WITH THE PRESIDENT. FORM 990, PART VI, SECTION C, LINE 19 THE PUBLIC CAN ACCESS THESE DOCUMENTS LISTED BY VISITING THE ORGANIZATION'S WEBSITE: WWW.IFAC.ORG 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 10017 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 1 1 0 1 0 1