IBRACON is a private organization established in 1971 to promote the advancement of the audit profession. As a voluntary professional organization comprised of auditors, IBRACON represents and promotes the audit profession, develops training activities, and drives improvements to professional practices. IBRACON cooperates with the CFC regarding technical and ethical issues involving the accountancy profession, assists with the translation and interpretation of accounting and auditing standards, supports the implementation of quality control/management standards, and works towards enhancing professional education. IBRACON is the official translator of the IFRS and IFRS for SMEs issued by the IASB in Brazil and also provides translation assistance for the Brazilian auditing standards. In addition to being an IFAC Member, IBRACON is a member of the Inter-American Accounting Association (AIC), the Committee of Integration for Latin Europe and America (CILEA), and the Union of Accountants and Auditors of Portuguese Language (UCALP).