The International Federation of Accountants^® (IFAC^®) has published the 2014 edition of the International Auditing and Assurance Standard Board^® (IAASB^®) Handbook of International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements, Volume II and Volume III in Russian. This translation was performed by the National Organization for Financial Accounting and Reporting Standards Foundation. To ensure wide acceptability of the translation, it was reviewed by a committee consisting of experts from the Russian Federation as well as from Belorussia, Kazakhstan, and Kyrgyzstan.

For an overview of translations of IFAC’s publications, visit the Translations Database.

Summaries of the International Federation of Accountants^® (IFAC)’s eight Policy Position Papers (PPPs) are now available in Spanish. The papers cover a variety of topics including standard setting in the public interest, regulation and global regulatory convergence, effective governance, risk management and internal control, and enhancing organizational reporting. These publications include:

• Resumen - Posición de Política de la IFAC No 1 - Regulación de la Profesión Contable (Summary of PPP1 - Regulation of the Accountancy Profession)
• Resumen - Posición de Política de la IFAC No 2 –  Apoyo de la Ifac a un Conjunto Unico de Normas de Auditoría: Auditorías de Entidades Pequeñas y Medianas (Summary of PPP2 - A Single Set of Auditing Standards: Audits of Small- and Medium-Sized Entities)
• Resumen - Posición de Política de la IFAC No 3 - Establecimiento de Normas Internacionales en el Interés Público (Summary of PPP3 - International Standard Setting in the Public Interest
• Resumen - Posición de Política de la IFAC No 4 –  Transparencia y Rendición de Cuentas en la Gestión Financiera del Sector Público: el Uso de las Normas Internacionales de Contabilidad Para el Sector Público (Summary of PPP4 - Public Sector Financial Management Transparency and Accountability: The Use of International Public Sector Accounting Standards)
• Resumen - Posición de Política de la IFAC No 5 –  Una Definición del Interés Público (Summary of PPP5 - A Definition of the Public Interest)
• Resumen - Posición de Política de la IFAC No 6 –  Convergencia Regulatoria Global y la Profesión Contable (Summary of PPP6 - Global Regulatory Convergence and the Accountancy Profession)
• Resumen - Posición de Política de la IFAC No 7 –  Gobierno de la Entidad Eficaz, Gestión de Riesgos y Control Interno (Summary of PPP7 - Effective Governance, Risk Management, and Internal Control)
• Resumen - Posición de Política de la IFAC No 8 –  Cómo Mejorar los Informes Organizacionales (Summary of PPP 8 - Enhancing Organizational Reporting)

The full-length English language versions of the eight policy position papers are available under the Publications and Resources section of the IFAC website.

These Spanish translations were performed by the Federación Argentina de Consejos Profesionales de Ciencias Económicas (FACPCE), and are a result of the Ibero-American cooperation framework, known as the IberAm project.  Established in 2012, the IberAm project—which includes IFAC and its member organizations in Argentina, Mexico, and Spain—is an IFAC-authorized translation and review process that strives to achieve longer-term, sustainable processes for single, high-quality Spanish translations of international standards and other IFAC publications. The Interamerican Accounting Association, IFAC’s regional organization for Latin America and the Caribbean, is an observer to the project. In addition, the project involves a Review Committee of technical experts representing IFAC member organizations in nine Spanish-speaking countries.

For an overview of translations of IFAC’s publications, please visit the IFAC Translations Database.

The Institute of Chartered Accountants of Jamaica (ICAJ), with support from the International Federation of Accountants (IFAC), will hold a regional SMP Forum on May 3 to bring practitioners from small- and medium-sized accountancy practices (SMPs) together for a day-long seminar to focus on audit quality and how practitioners can build a successful practice.

When/Where? The event will be held May 3, 2016, at the Jamaica Pegasus Hotel in Kingston, Jamaica.

What? An international and regional line-up of subject matter experts will steer the forum and share important insights on pertinent areas of audit quality and practice management.

The line-up of speakers includes:

• Bruce Scott, President, Institute of Chartered Accountants of Jamaica
• Paul Thompson, Director, IFAC Global Accountancy Profession Support
• Monica Foerster, Deputy Chair, IFAC SMP Committee
• George Willie, Member, IFAC SMP Committee

Who Should Attend? The forum is open to accounting practitioners, as well as other professionals, who work directly or indirectly with SMP/SME affairs. 

Why? The event will examine the structure of the ISA™ pronouncements and how they can be applied proportionately. Additionally, the forum will include a session on building a successful practice, including evolving to be future ready and building capacity to offer to advisory services. Both sessions will include an overview of relevant guidance, including the IFAC Guide to Practice Management.

See the ICAJ Forum page for more information as the event date approaches. 

The US Public Company Accounting Oversight Board (PCAOB) recently announced a number of new members joining its Investor Advisory Group (IAG) for terms through 2018, including the immediate past chair of the IAASB Consultative Advisory Group (CAG), Linda de Beer.

The IAG is a forum for the investor community to provide views and advice on matters affecting investors and the work of the PCAOB.

Ms. de Beer was IAASB CAG Chair from 2010 to 2015 and currently serves as a non-executive director on the board of three companies listed on the Johannesburg Stock Exchange. She chairs the audit committees of all three companies, serves as Deputy Chair on one board, and as a member of the remuneration committee and the nomination committee of another board.

Prior to serving as Chair of the CAG, she represented the World Federation of Exchanges (WFE) on the group and still represents the WFE on the International Ethics Standards Board for Accountants’ CAG.  

“We congratulate Linda on this prestigious appointment,” said current IAASB CAG Chair Matt Waldron. “We view it as a positive step that the PCAOB recognizes her contributions to international standard setting, as interaction between the IAASB and PCAOB on relevant auditing and assurance issues is in the public interest."  

Highlights from the IESBA's March 14-16, 2016, meeting in Madrid, Spain.

:10 - Introduction: Ken Siong, Technical Director

:36 - Opening remarks/Non-Compliance with Laws and Regulations: Stavros Thomadakis, Chair

3:40 - Safeguards: Gary Hannaford, Member

7:13 - Part C, Professional Accountants in Business: Helene Agélii, Member

10:40 - Next meeting: Ken Siong, Technical Director

The IAASB has continued its extensive outreach program contemplated in its five-year Strategy for 2015–2019: Fulfilling Our Public Interest Mandate in an Evolving World. It has compiled a detailed listing of its outreach activities for the period January 2016-March 2016.

IFAC hosted a Statements of Membership Obligations (SMOs) workshop in San Jose, Costa Rica, February 13 in cooperation with the Colegio de Contadores Públicos de Costa. More than 30 representatives from 17 professional accountancy organizations (PAOs) in Central and South America and the Caribbean attended to discuss regional issues affecting the profession.

The workshop focused on the progress in fulfillment of the SMOs in the region and provided a key opportunity for PAOs to share experiences, both successes and challenges, and identify opportunities for regional collaboration.

Common challenges in the region identified by PAOs include: fragmented and outdated legal framework; lack of technical and financial resources; changes in PAO governance and a lack of strategic planning; and the effective implementation of quality assurance systems.

To support establishing sound quality assurance systems, one of the key challenges identified during the workshop, IFAC will host a webinar during the second quarter of 2016, specifically targeting Latin America and Caribbean. If you are interested in being notified as details become available, please email compliance@ifac.org.

Workshop presentation are available online; please note, some presentations are in English and some are in Spanish.

In cooperation with IFAC Member Colegio de Contadores Públicos de Costa Rica (CCPCR), IFAC is hosting a Statements of Membership Obligations (SMOs) workshop in San Jose, Costa Rica, on February 13. The workshop will bring together leaders and representatives from 17 professional accountancy organizations in Central and South America and the Caribbean to address regional issues affecting the profession.

The event will also provide insights on the status of fulfillment of the IFAC SMOs in the region and provide the opportunity for a greater explanation and discussion of the Dashboard Reports methodology now used by IFAC. In addition, the event will be a key opportunity to share experiences, both successes and challenges, and identify opportunities for regional collaboration.

The event also supports the IFAC Member Compliance Program’s strategic objective of collaboration and seeks to help IFAC and the Compliance Advisory Panel more fully understand the challenges some jurisdictions face in adopting or implementing some of the SMOs.

Nominations for the IFAC International Gold Service (IGS) award are now open. This prestigious award recognizes outstanding leaders for their contributions to the accountancy profession on the global level. These contributions should be unique, innovative, and recognized worldwide—beyond national professional accountancy organizations and IFAC.

Past recipients include Ian Ball in 2014, recognized for his many contributions to the global accountancy profession and his groundbreaking work in public sector accounting and transparency, as well as Professor Mervyn King in 2012, and Sir David Tweedie and Professor Stephen Zeff in 2011.

Please email a CV and letter of support, stating why the individual’s contributions to the global profession are worthy of recognition, to Anna Lee (AnnaLee@ifac.org) by March 15, 2016. The letter of support should be signed by the president and/or chief executive (or equivalents) of the nominating organization. IFAC members, associates, and affiliates may nominate candidates.

If awarded, the IGS Award will be presented at the annual Council meeting in Brazil in November 2016.

IPSASB Chair Ian Carruthers talks about the IPSASB and the importance of IPSAS™ for transparency and accountability in public sector financial management.

In the series' first two installments, Mr. Carruthers answers the questions "What are IPSAS?" and "Why is IPSAS implementation important?"  

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