The International Public Sector Accounting Standards Board (IPSASB) published today its 2011 Handbook of International Public Sector Accounting Pronouncements. In two volumes, the Handbook contains all current IPSASB pronouncements, including 31 accrual-based standards and the IPSASB's cash basis standard. The 2011 Handbook incorporates the amendments made as a result of the IPSASB’s 2010 Improvements Project, as well as?at the beginning of each accrual-based standard?a history of the amendments made to that standard.

“The 2011 Handbook provides a comprehensive set of accounting requirements and guidance developed specifically for preparers of public sector financial statements,” said IPSASB Chair Andreas Bergmann. “In addition, the Handbook has been updated to reflect the IPSASB’s Improvements Project, completed in November 2010.”

How to Order
The Handbook can be downloaded in PDF format from the Publications and Resources page of the IFAC website. Print copies of volumes I and II of the Handbook are also available; however, shipping and handling charges apply. Orders can be placed at web.ifac.org/publications or by calling IFAC at +1 (212) 286-9344.

About the IPSASB
The IPSASB develops accounting standards and guidance for use by public sector entities. The structures and processes that support the operations of the IPSASB are facilitated by IFAC.

About IFAC
IFAC is the global organization for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. IFAC is comprised of 164 members and associates in 125 countries and jurisdictions, representing approximately 2.5 million accountants in public practice, education, government service, industry, and commerce.

In two volumes, the Handbook contains all current IPSASB pronouncements, including 31 accrual-based standards and the IPSASB's cash basis standard.

International network of accounting firms Kreston International has been admitted as a full member of the Forum of Firms after confirming that it has met the Forum's membership standards. This includes reporting that it has implemented a globally coordinated quality assurance program, has policies and methodologies based on the International Standards on Auditing (ISAs), and has met other specific requirements of the Code of Ethics for Professional Accountants.

As of January1, 2011, twenty-one other international networks of accounting firms are full members of the Forum of Firms and continue to report their adherence to the Forum's membership obligations. A list of the Forum's members is available at www.forumoffirms.org.

The Forum of Firms is an association of international networks of accounting firms. These firms perform a major global share of the audits of financial statements that are or may be used across national borders. The Forum's goal is to promote consistent and high-quality standards of financial reporting and auditing practices worldwide. “We are delighted at Kreston’s decision to join the Forum and their public commitment to International Standards on Auditing and rigorous quality control standards,” says Robert Dohrer, chair of the Forum of Firms. “By taking part in the Forum’s activities, Kreston and other Forum members have an important role in contributing to public confidence in the accountancy profession and in financial reporting in general.”

In order to achieve full membership status, Kreston International had to commit to meeting the Forum's membership obligations, which require members to:

• Maintain appropriate quality control standards in accordance with International Standards on Quality Control issued by the International Auditing and Assurance Standards Board (IAASB), in addition to relevant national quality control standards and conduct, to the extent not prohibited by national regulation, regular globally coordinated internal quality assurance reviews;
• Have policies and methodologies for the conduct of transnational audits that are based, to the extent practicable, on ISAs issued by the IAASB; and
• Have policies and methodologies that conform to the International Ethics Standards Board for Accountants’ (IESBA) Code of Ethics for Professional Accountants and national codes of ethics.

For additional details on the Forum of Firms, please visit: www.forumoffirms.org.

About the Forum of Firms
The Forum of Firms is an association of networks of international accounting firms that perform transnational audits. Members of the Forum have committed to adhere to and promote the consistent application of high-quality audit practices worldwide, including the use of International Standards on Auditing, and the maintenance of appropriate quality control standards in accordance with International Standards on Quality Control issued by the International Auditing and Assurance Standards Board. Through their organizations, members also conduct globally coordinated internal quality assurance reviews on a regular basis and have policies and methodologies that conform to the International Ethics Standards Board for Accountants’ Code of Ethics for Professional Accountants. The Transnational Auditors Committee is the Executive Committee of the Forum of Firms and a committee of the International Federation of Accountants (IFAC).

About IFAC
IFAC is the global organization for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. IFAC is comprised of 164 members and associates in 125 countries and jurisdictions, representing approximately 2.5 million accountants in public practice, education, government service, industry, and commerce.

Stathis Gould, IFAC, calls on the accountancy profession to step up and do its part to address the sustainability crisis.

Roger Tabor, Chair of the Professional Accountants in Business Committee addresses the Institute of Chartered Accountants of Pakistan on their 50th anniversary. Mr. Tabor discusses the influence and reach of the accountancy profession, and the objectives and focus areas of the Committee.

IFAC's comments on the FSA (UK) Guidance Consultation: Code of Practice for the relationship between the external auditor and the supervisor submitted on March 25, 2011.

The International Auditing and Assurance Standards Board (IAASB) today released its 2010 annual report. The report highlights the IAASB’s ongoing work to promote the adoption and implementation of its clarified International Standards on Auditing (ISAs), and the issuance of a number of proposals in areas where there is demand for new and innovative assurance and related services other than audits of financial statements.

“A number of projects underway are addressing issues that are at the forefront of our stakeholders’ minds, and our efforts can be best summarized as a pursuit of three goals: clarity, quality, and relevance,” said IAASB Chairman Prof. Arnold Schilder. “Developing assurance standards in new areas has taught us that wide consultation becomes even more critical to ensure the public interest is being met.” Accordingly, the annual report details the extensive outreach and liaison activities undertaken during 2010 with key groups, such as regulators and audit oversight bodies, national auditing standard setters, accounting standard setters, governments and public sector organizations, and accounting firms.

Noted James Gunn, IAASB Technical Director, “The IAASB’s debates on its 2010 standard-setting proposals are likely to evolve during 2011 as stakeholder responses are received. We hope that the new interactive format of the 2010 annual report allows those interested in the IAASB’s work to more easily stay abreast of developments in our initiatives.” The annual report also catalogues the tools and resources that have been developed to support the clarified ISAs and makes reference to the ongoing consultation on the IAASB’s work program for 2012–2014.

A report from Linda de Beer, the newly appointed chairman of the IAASB Consultative Advisory Group (CAG), describes the work of the CAG in providing input to the IAASB. The IAASB also continues to receive oversight from the Public Interest Oversight Board (PIOB).

The 2010 IAASB annual report can be downloaded from its website.

About the IAASB
The IAASB (www.iaasb.org) develops auditing and assurance standards and guidance for use by all professional accountants under a shared standard-setting process involving the PIOB, which oversees the activities of the IAASB, and the IAASB CAG, which provides public interest input into the development of the standards and guidance. The structures and processes that support the operations of the IAASB are facilitated by IFAC.

About IFAC
IFAC (www.ifac.org) is the global organization for the accountancy profession, dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. It is comprised of 164 members and associates in 125 countries and jurisdictions, representing approximately 2.5 million accountants in public practice, education, government service, industry, and commerce.