Theo VermaakPKF has announced that Theo Vermaak has been appointed chairman of the Forum of Firms.
Mr Vermaak joined PKF in 2000 and is currently an executive director of the Africa Region and chairman of the International Professional Standards Committee.
The Forum of Firms, which was formally established in 2002, is an association of the international networks of accounting firms that perform transnational audits.
Members of the forum have committed to adhere to and to promote the consistent application of high-quality audit practices worldwide.
The forum’s membership obligations require that members will first and foremost maintain quality control standards in accordance with the International Standard on Quality. Secondly, it should conduct regular globally coordinated internal quality assurance reviews.
Another important obligation is to have policies and methodologies for the conduct of transnational audits based on the International Standards on Auditing.
Having policies and methodologies which conform to the IESBA Code of Ethics for Professional Accountants would need to go hand in hand with agreeing to submit an annual report to the secretary of the forum.