In 2018, the International Bar Association (IBA) and the International Federation of Accountants (IFAC) enhanced their efforts to work together with legal and accountancy professions to tackle anti-corruption issues. Representing more than 170 jurisdictions worldwide, the partnership plays a vital role in training, educating and supporting legal and accounting professionals to uphold the highest levels of integrity and ethical standards.
In 2023, the relationship formalized as the organizations signed a Memorandum of Understanding providing a framework for expanding the cooperation between the IBA and IFAC. This emphasizes the value in learning from each other and places a particular focus on anti-corruption and how the professions can work more closely together in the fight against money-laundering and economic crime with key stakeholders such as the United Nations and Financial Action Task Force.
