Membership of Forum of Firms endorses Nexia International’s global quality standards
Wednesday, 19 October 2011
Nexia International, a worldwide network of independent accounting, tax and consulting firms, has been named a full member of the Forum of Firms – an endorsement of its globally coordinated quality assurance ethos.
The Forum of Firms is an association of international networks of accounting firms, which aims to promote consistent and high-quality standards of financial reporting and auditing practices worldwide.
Kevin Arnold, Executive Director of Nexia International, said: "We are delighted to be joining the Forum of Firms. Our membership demonstrates our strong commitment to high-quality assurance and ethical standards across the Nexia International network - and is a reflection of the financial and resource investment we have made in recent years in supporting this quality ethos throughout our organisation. We look forward to playing an active role within the forum."
To achieve full membership status, Nexia International had to commit to meet the forum’s membership obligations, which require members to:
- Maintain appropriate quality control standards in accordance with International Standards on Quality Control issued by the International Auditing and Assurance Standards Board (IAASB) in addition to relevant national quality control standards and conduct, to the extent not prohibited by national regulation, regular globally coordinated internal quality assurance reviews;
- Have policies and methodologies for the conduct of transnational audits that are based, to the extent practicable, on ISAs issued by the IAASB; and
- Have policies and methodologies that conform to the International Ethics Standards Board for Accountants’ (IESBA) Code of Ethics for Professional Accountants and national codes of ethics.