IFA is a voluntary membership organization established in 1916. Its members work for small and medium-sized enterprises (SMEs), or who run or work in small and medium-sized accounting practices that advise SMEs. IFA members in practice offer other accountancy, taxation and consultancy services to the public. The IFA is not a Recognized Supervisory Body (RSB) and therefore its members are not authorized to conduct statutory audit, unless they are registered with a RSB.