Forum of Firms
Established in 2002, the Forum of Firms (FOF, Forum) is an association of international networks of accounting firms that perform transnational audits.
Membership in the Forum is open to networks that conduct transnational audits, promote the consistent application of high-quality audit practices and standards worldwide, support convergence of national audit standards with the International Standards on Auditing (ISAs) and commit to meeting the Forum's membership obligations.
These include in particular:
Maintain quality control standards in accordance with the International Standard on Quality Control (ISQC 1) issued by the IAASB in addition to relevant national quality control standards.
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 the „International Standards on Auditing“ (ISAs) issued by the IAASB.