federation of accounting professions

The FAP is responsible for establishing and implementing an investigation and discipline (I&D) system in Thailand for its members, under the oversight of the Accounting Profession Supervision Committee. Please email membership@ifac.org. Current Any person accessing this site agrees to the Terms of Use and Privacy Policy. The FAP has directly translated and published into Thai the Handbook of International Quality Control, Auditing, Review, Other Assurance, and Related Services for the public. Contact permissions@ifac.org for permission to reproduce, store, translate or transmit this document. For additional information, please read our website Terms of Use. "Federation of Accounting Professions" specializes in providing accounting and auditing service and knowledge. As of March 2018, the FAP has translated and incorporated the revised IES into its IPD and CPD program. Mutual Benefit Organizations. Its main industries—among others—are government, technology, and health care. However, as per the Accounting Professional Act B.E. ALL RIGHTS RESERVED. New York, New York 10017. The institute conducted an assessment of its QA system against the requirements of SMO 1 and identified that its system does not adopt a cycle-based approach, there is a lack of human resources available to conduct QA reviews, and the system is not linked with its I&D mechanisms. Its responsibilities include: (a) establishing initial professional development and continuing professional development requirements for the accounting profession; (b) supporting the unity and honor of members including providing for the welfare and benefits among members; (c) setting accounting and auditing standards; (d) establishing ethical requirements for professional accountants and monitoring the behavior and operation of registered members in accordance with professional ethics, such as establishing an investigative and disciplinary mechanisms; (e) issuing, suspending, and revoking professional accountants registration and license; (f) certifying accounting degrees or certificates to benefit member’s application; (g) certifying the training curriculum for professional accountants; (h) assisting, recommending, and disseminating knowledge about the accounting profession to the public; (i) providing advice and recommendations to the government regarding policies and issues related the accounting profession; (j) issuing the regulations of the FAP; and (k) acting as the representative of the accounting profession. Additionally, a memorandum of understanding was signed with seven audit firms to carry out the second phase of this project which includes a mentorship component. 529 5th Avenue Other implementation activities carried out by the FAP include conducting Train-the-Trainer workshops for accounting lecturers and preparing a TFRS implementation guide in Thai that summarizes TFRS and provides illustrative case studies that are relevant for the Thai environment. In the next update of its SMO Action Plan, the FAP is encouraged to consider reviewing the latest IESBA Code of Ethics issued in 2016 for adoption. "By MRT is better. As of November 2017, the CGD has adopted nine Thai Public Sector Accounting Standards, which are developed in line with IPSAS issued in 2011. ");b!=Array.prototype&&b!=Object.prototype&&(b[c]=a.value)},h="undefined"!=typeof window&&window===this?this:"undefined"!=typeof global&&null!=global?global:this,k=["String","prototype","repeat"],l=0;lb||1342177279>>=1)c+=c;return a};q!=p&&null!=q&&g(h,n,{configurable:!0,writable:!0,value:q});var t=this;function u(b,c){var a=b.split(". Accounting Standards in Thailand are issued by the Federation of Accounting Professions (FAP) which was established in 2004. Indeed may be compensated by these employers, helping keep Indeed free for job seekers. We work to prepare a future-ready accounting profession. The organization chart of the FAP is as follows: Learn how we can help. Insights, resources and tools from leading voices in accountancy and business. The CGD is in the process of considering the adoption of the remaining 10 IPSAS it has identified as relevant to the Thai public sector. Add to My List Edit this Entry Rate it: (1.00 / 1 vote) Translation Find a translation for Federation of Accounting Professions in other languages: Select another language: - Select - 简体中文 (Chinese - Simplified) We work to prepare a future-ready accounting profession. The Statements of Any person accessing this site agrees to the Terms of Use and Privacy Policy. You may not reproduce, store, transmit in any form or by any means, with the exception of non-commercial use (e.g., professional and personal reference and research work), translate, modify or create derivative works or adaptations based on such publications, or any part thereof, without the prior written permission of IFAC. 133 Sukhumvit 21 Road (Asok), Klong toei Nua, WatthanaBangkok 10110ThailandTel: 0-2685-2500Fax: 0-2685-2501fap@fap.or.thhttp://www.fap.or.th/. IFAC bears no responsibility for the information provided in the SMO Action Plans prepared by IFAC member organizations. These valuable works are the product of substantial time, effort and resources, which you acknowledge by accepting the following terms of use. The Pan African Federation of Accountants (PAFA) is the continental body representing Africa's Professional Accountants. November 5 2020 Senior Collections Administrator (18-month contract) . 529 5th Avenue 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 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. Both the FAP and the Securities and Exchange Commission (SEC) share responsibility for establishing quality assurance (QA) review systems in Thailand. [CDATA[ standards and maintaining adequate enforcement mechanisms to ensure the professional behavior of their 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. Although it was agreed in principal that such organization should be established, as of November 2017, there has been no further progress on this initiative. Under the Accounting Professions Act B.E. ");b!=Array.prototype&&b!=Object.prototype&&(b[c]=a.value)},h="undefined"!=typeof window&&window===this?this:"undefined"!=typeof global&&null!=global?global:this,k=["String","prototype","repeat"],l=0;lb||1342177279>>=1)c+=c;return a};q!=p&&null!=q&&g(h,n,{configurable:!0,writable:!0,value:q});var t=this;function u(b,c){var a=b.split(". (function(){for(var g="function"==typeof Object.defineProperties?Object.defineProperty:function(b,c,a){if(a.get||a.set)throw new TypeError("ES3 does not support getters and setters. You may not reproduce, store, transmit in any form or by any means, with the exception of non-commercial use (e.g., professional and personal reference and research work), translate, modify or create derivative works or adaptations based on such publications, or any part thereof, without the prior written permission of IFAC. In addition to being a Member of IFAC, the FAP is also a member of the ASEAN Federation of Accountants. Get more information on our member organizations. 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