Launched in January 2001, the Forum of Firms (FoF) is an organisation of international firms that perform audits of financial statements that are or may be used across national boundaries. All members of the FOF meet certain requirements as detailed in FOF's Constitution. Members'commitment to the obligations of membership of FOF contributes in raising the standards of auditing internationally in the interests of users of the profession's services.

FOF is part of the The International Federation of Accountants (IFAC), the worldwide organisation of the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of international economies. IFAC's current membership consists of approximately 160 professional accountancy bodies in 120 countries, representing more than 2.5 million accountants in public practice, education, government service, industry and commerce. IFAC, through its independent standard-setting boards, sets international standards on ethics, auditing and assurance, education, and public sector accounting. It also issues guidance to encourage high-quality performance by professional accountants in business. FOF conducts its business primarily through the Transnational Audit Committee (TAC), an IFAC committee whose members are nominated by FOF members.

IEC was present at the 2006 FOF meeting in NY. On 4 October 2006 IEC was in attendance of the annual Forum of Firms (FoF) meeting held in NYC. Our representative was Stefano Ciccioriccio who was joined, for this occasion, by Joe Catalano from his US firm in NY : Funaro & Co.

Among the items in the agenda the major highlights were:
- The International Auditing and Assurance Standards Board (IAASB) 2006 activity report
- Transnational Auditors Committee (TAC) 2006 work update and 2007 work program
- International Ethic Standards Board of Accountants (IESBA) 2006 activity report
- Approval of 2005 Financial Statement and of 2007 budget and dues allocation (IEC quota will remain unchanged)
- Minor amendments to FoF Anti Competition Compliance Policy
- Minor amendmen ts to FoF Constitution
- International Accounting Education Standard Board (IAESB) 2006 activity report.

The FoF meeting was preceded, the evening before, by a dinner with the attendance of both TAC and FoF representatives. During this informal occasion IEC representatives had the opportunity to meet and have some discussion with Mr. Fermin del Valle, the Argentinean colleague who will be shortly appointed as the new IFAC Chairman.