About the IDW

The Institut der Wirtschaftsprüfer in Deutschland e.V. [Institute of Public Auditors in Germany, Incorporated Association] (IDW) is a privately run organisation established to serve the interests of its members who comprise both individual Wirtschaftsprüfer [German Public Auditors] and Wirtschaftsprüfungsgesellschaften [German Public Audit firms].

The IDW was established on a voluntary basis rather than having been established under German law. In accordance with its Articles of Incorporation, the IDW does not operate as a commercial business and is a not-for-profit organisation. The IDW's headquarters are situated in Düsseldorf, Germany.

The IDW is a full and founding member of Accountancy Europe, a full and founding member of the International Federation of Accountants (IFAC) as well as a full and institutional member of the International Valuation Standards Council (IVSC).

The IDW, together with the Wirtschaftsprüferkammer [Chamber of Public Accountants] (WPK), is currently a sponsoring organisation of members of the International Auditing and Assurance Standards Board (IAASB), the International Ethics Standards Board for Accountants (IESBA) as well as IFAC’s Small and Medium Practices Advisory Group (SMPAG).

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August 17, 2023 - The IDW, together with 9 of the world’s leading accounting institutes, is a member of the Global Accounting Alliance (GAA).

In cooperation with the Economist Impact, the GAA sponsored an in-person event on business ethics on May 11, 2023 (Ethics Event | Global Accounting Alliance). The event in Brussels was by invitation-only and attended by senior business leaders from across private sector, public sector, academia, law and finance. Panelists discussed various facets of the theme “Championing ethical leadership amid competing pressures”. A summary of event prepared by Economist Impact can be accessed: Economist-ethics-event-summary.pdf (globalaccountingalliance.com).

The GAA has also highlighted the core professional values set forth in the recently published IDW’s Code of Conduct to which IDW members have agreed to adhere.

As a reflection back on the importance of this ethics event and its key messages, the 10 GAA CEOs, Klaus-Peter Naumann included, issued today a statement to the accountancy profession underlining the public interest imperative that ethics be an ‘always on’ conversation. Key messages in this statement include confirmation that the profession’s ethics are at the heart of global financial markets and that trust must be earned, and maintained, in the public interest.