Who we are

The Institute of Financial Accountants (IFA) is an internationally recognised professional accountancy membership body providing dedicated support to SMEs and SMPs. 

We are part of the Institute of Public Accountants (IPA) Group, the world’s largest SME-focused accountancy group, with more than 49,000 members and students in 100 countries. 

We are a full member of the International Federation of Accountants (IFAC) the global accounting standard-setter and regulator for the accountancy profession. As such, the IFA takes its place alongside the UK and Ireland’s six chartered accountancy bodies, as well as 135 national and regional accountancy organisations representing 125 countries and jurisdictions 

The IFA has been approved by:  

  • HM Treasury as an accountancy supervisory body for the purposes of supervision with the Money Laundering Regulations 2017 and 2019 
  • the Financial Conduct Authority (FCA) and are included as a specified body that can approve accounts for high-net-worth individuals (HNWIs). The approval means members of the IFA are recognised by the FCA to provide statements on an individual’s income or assets; 
  • the Charity Commission in England and Wales, for conducting independent reviews of charity accounts below the audit threshold;  
  • the Scottish Charity Regulator, for providing independent examination of Scottish charity accounts; and  
  • the Civil Aviation Authority (CAA) for IFA practising (AFA and FFA) members to join the ATOL Reporting Accountants (ARA) scheme. 

A micro, SME and SMP focus

Our members work within micro and small- to medium-sized enterprises (SMEs) or in micro and small- to medium-sized accounting practices (SMPs) advising micro and SME clients. 

We recognise the important role SMPs play in supplying professional services to their SME clients who are vital wealth creators as employers to more than half of the UK’s private sector workforce and the power behind urban and rural communities worldwide. 

Hear from our members about what being a financial accountant means and how we support them to meet the unique challenges and trading relationships associated with smaller business.