The Institute for Truth in Accounting (IFTA) was created by distinguished financial and public policy experts concerned with the quality of public and private organizations' financial reporting.
The Mission of the Institute For Truth in Accounting is, in a non-partisan manner, to compel governments to produce financial reports that are understandable, reliable, transparent and correct.
The IFTA believes decision makers need to understand an entity's current position and the likely consequences of decisions already made and of those to be made. Truthful accounting provides the facts necessary to make knowledgeable decisions. The Institute operates in two general areas. We participate in the creation of accounting standards that lead to increased utility of financial statements and transparency in their preparation. The Institute also provides public forums that investigate the financial conditions and likely trajectories of private and public entities including federal, state and local governments.
The IFTA actively seeks association with other public interest groups that recognize the need to improve financial reporting or want to better understand the financial effects of current accounting practices. The Institute is a non-profit, public interest group that does not advocate public policy beyond better, and thereby, more truthful, accounting.