At the beginning of April, TAGI became the first Arab firm to become a member of the Forum of Firms (FOF). Launched in 2001, the FOF is an organization of international firms that perform audits of financial statements that are or may be used across national boundaries. Members of the Forum voluntarily agree to meet certain requirements as detailed in the FOF constitution. Commitment to the obligations of membership in the Forum contributes to raising the standards of the international practice of auditing in the interests of clients. The FOF conducts its business primarily through the Transnational Auditors Committee (TAC), a committee of the International Federation of Accountants (IFAC), whose members have been nominated by the members of the Forum.

The Forum’s standards of quality require that member firms employ policies and methodologies used for conducting transnational audits which require compliance with the International Standards of Auditing in addition to other relevant national standards; comply with the application section of the IFAC Code of Ethics; maintain training programs to keep partners and staff who perform transnational audits aware of international developments; and maintain appropriate quality control standards in accordance with International Standards on Auditing and International Standards on Quality Control, as issued by the IAASB.

For further information see www.ifac.org

Forum of Firms (FOF)
Officers, Staff, and Members