martes, 31 de agosto de 2010

Boletín de la Federación Internacional de Contadores (IFAC)

October 29, 2009

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In this issue:
1. IFAC Accountancy Summit Supports G-20 Response to Financial Crisis
2. IFAC/The Banker Survey Examines SME Lending, Critical Role of Accountants
3. IFAC Hosts SMP Forum in Beijing
4. IAASB Releases New Tools to Support Clarity ISA Adoption and Implementation
5. IAASB Staff Issues Q&A Guide on Clarified ISA Implementation, SME Issues
6. IAASB Consults on Complex Financial Instruments, Greenhouse Gas Emissions
7. Adoption and Implementation Materials for Revised Ethics Code Now Available
8. IPSASB/IMF Joint Task Force Achieves Progress
9. IFAC/PAIB Collaborating with Prince of Wales Sustainability Project on Community Site
10. PAIB Issues International Good Practice Guidance on Evaluating and Improving Costing
11. PAIB Launches Projects on Governance, Risk, and International Control
12. IOSCO Issues Statement Supporting Clarity ISAs
13. Forum of Firms Workshop Focuses on Strengthening Global Internal Inspection Processes
14. Member Bodies Invited to Rate Competitors in 2009 Articles of Merit Competition
15. IFAC and International Valuation Standards Council Sign MOU Agreement
16. Third Annual CReCER Conference Addresses Crisis, SMEs, and Public Sector Reporting
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1. IFAC Accountancy Summit Supports G-20 Response to Financial Crisis

Following the Pittsburgh G-20 Summit held on September 24-25, IFAC expressed support for the G-20's goal to establish "a framework for strong, sustainable, and balanced growth," which includes reform of executive compensation packages, the adoption of a single set of high-quality global accounting standards, and increased resources for the World Bank and international development banks. IFAC recommends that these goals remain priorities and that G-20 leaders act on them at a national level.

In advance of the Pittsburgh G-20 meeting, IFAC hosted in July the G-20 Accountancy Summit, which was attended by over 60 representatives from member bodies in the G-20 countries and other external groups. The Accountancy Summit was designed to generate consensus within the profession on a series of recommendations submitted to the G-20 finance ministers. The Summit also addressed the question of how the profession can best contribute to resolving the financial crisis. The recommendations, if implemented, are designed to strengthen transparency and accountability within the global financial system.

The following recommendations, among others, were developed at the G-20 Accountancy Summit:
• The early adoption and implementation of International Financial Reporting Standards (IFRS), International Standards on Auditing (ISAs), and the auditor independence requirements set out in the Code of Ethics for Professional Accountants
• Stronger corporate governance structures
• Widespread adoption of International Public Sector Accounting Standards (IPSASs) by government
• Greater consideration of the needs of small- and medium-sized entities
The full list of these recommendations also can be accessed via IFAC's web page devoted to the Global Financial Crisis: www.ifac.org/financial-crisis. The results of the G-20 Summit can be accessed here: pittsburghsummit.gov.
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2. IFAC/The Banker Survey Examines SME Lending, Critical Role of Accountants
IFAC and The Banker magazine, part of the Financial Times group, have released the results of a global survey of banks on lending to small- and medium-sized entities (SMEs). The results showed that some SMEs may have access to more credit down the road, but will have to pass more rigorous tests to demonstrate their creditworthiness.
The results of the survey, which received responses from over 500 bankers over a six-week period, also confirmed that accountants play a critical role in providing information that influences lender decision making. Bankers expect SMEs to provide more comprehensive information in their loan applications. Survey respondents said that they will increasingly look at cash-flow information, collateral, and customer history with the bank when considering loan applications. Financial statements, key risk indicators, and industry trends are also among the key sets of information banks focus upon when making loan decisions.
The survey results, including three articles by IFAC leadership that highlight IFAC's support for SMEs and IFAC's belief in the importance of SMEs in contributing to global economic recovery and growth, are printed as a special supplement in the October issue of The Banker. The articles and survey results can also be accessed from the IFAC website: www.ifac.org/financial-crisis/smp-sme-resources.php.
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3. IFAC Hosts SMP Forum in Beijing

The Small and Medium Practices (SMP) Committee held is fourth annual IFAC SMP Forum at the Grand Hyatt, Beijing. Over 200 delegates from more than 40 countries--the largest gathering in the event's history--attended the event, which was co-hosted by the Chinese Institute of Certified Public Accountants and the Confederation of Asian and Pacific Accountants.

The Forum's program featured a broad range of speakers and topics, including recent international developments, the work of the IFAC SMP Committee, as well as presentations by the World Bank and Asian Development Bank, and panel discussions on such topics as "Adapting to the Economic Turbulence and Laying Foundations for Sustainable Growth"; "Ensuring International Standards are Relevant to SMP/SMEss"; and "The Role of SMPs in Providing Business Support to SMEs."

A full set of materials related to the Forum, including streaming video, speeches, presentations, and discussion group reports will be available at the SMP Committee Resources web page: www.ifac.org/smp/index.php#Resources.
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4. IAASB Releases New Tools to Support Clarity ISA Adoption and Implementation

To promote awareness and understanding of the clarified International Standards on Auditing (ISAs), which were completed in March 2009, the International Auditing and Assurance Standards Board (IAASB) has released a series of modules to support adoption and implementation efforts.

Each "ISA Module" consists of a brief video presentation, a set of slides, and supporting notes that explain the key principles of, and major changes in, individual ISAs. The support modules include the implications for audits of small- and medium-sized entities.

The ISA Modules are available to download free of charge from the IAASB Clarity Center on the IFAC website: http://web.ifac.org/clarity-center/support-and-guidance.
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5. IAASB Staff Issues Q&A Guide on Clarified ISA Implementation, SME Issues

To help auditors worldwide implement the clarified International Standards on Auditing (ISAs), the staff of the International Auditing and Assurance Standards Board (IAASB) has developed a question-and-answer publication titled Applying ISAs Proportionately with the Size and Complexity of an Entity.

The questions and answers explain how the design of the ISAs enables them to be applied in a manner that is proportionate to the specific characteristics of the entity subject to audit. Furthermore, answers are given to questions relating to audit procedures, work effort, documentation, and professional judgment. It is relevant in the context of any audit, but will be of particular help to those who audit, or oversee the audits of, small- and medium-sized entities.

The publication is available for download free of charge from the IFAC website: http://web.ifac.org/clarity-center/support-and-guidance.
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6. IAASB Consults on Complex Financial Instruments, Greenhouse Gas Emissions

The International Auditing and Assurance Standards Board (IAASB) has released Consultation Papers seeking views on developing new guidance for auditing complex instruments and greenhouse gas emissions reporting.

The first Consultation Paper, entitled Auditing Complex Financial Instruments, recognizes the strong demand from auditors and preparers for further guidance on auditing complex financial instruments, e.g., in situations of illiquid markets, which currently pose the greatest challenges for them. The Consultation Paper refers to recent work by the U.K. Auditing Practices Board (APB) on the same topic, and asks specific questions about how that guidance might be adapted or supplemented for application in the international context.

Comments for this paper are requested by January 15, 2010.

The second paper, titled Assurance on a Greenhouse Gas Statement, asks a number questions in important areas related to the reporting of greenhouse gas emissions, including the following:
• The form of assurance report that users would find most useful
• The nature and extent of requirements
• How a standard should best integrate with regulatory requirements
• Technical aspects of applying the assurance process to greenhouse gas emissions
The IAASB intends to use the feedback from this consultation to develop an exposure draft of a proposed new assurance standard on greenhouse gas emission statements for release in 2010.

Comments for this paper are requested by February 19, 2009.

Both Consultation Papers may be viewed by going to www.ifac.org/Guidance/EXD-Outstanding.php. Respondents are asked to send their comments electronically through the IFAC website, using the "Submit a Comment" link on the Exposure Drafts and Consultation Papers page. Please note that first-time users must register to use this new feature. Although IFAC prefers that comments be submitted using the online submission system, e-mail may continue to be sent to edcomments@ifac.org.
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7. Adoption and Implementation Materials for Revised Ethics Code Now Available
The International Ethics Standards Board for Accountants (IESBA) encourages member bodies and firms to develop plans for implementing the recently revised Code of Ethics for Professional Accountants (the Code). The revisions include strengthening the Code's independence requirements and using the word "shall" as a drafting convention to clarify requirements. The revised Code will take effect January 1, 2011.
The IESBA has developed the following resources to support adoption and implementation:
• Slide Presentations: High level and in-depth that can be used to explain the content of the Code
• Overview of Independence Requirements: A short document providing an overview of the independence requirements contained in Section 290 of the Code relating to rotation, cooling off period, provision of non-assurance services, fees, and compensation and evaluation policies
• Comparisons: A high level and more detailed comparison that will help people understand the differences between the July 2009 Code and the previous Code
• Template: A comparison template containing the complete text of the Code, which can assist individuals who want to understand how the provisions in their jurisdiction match up to the Code
To access these materials, as well as the revised Code, visit the Resources section of the Ethics homepage: www.ifac.org/Ethics.
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8. IPSASB/IMF Joint Task Force Achieves Progress

Momentum is building for the joint task force developed by the International Public Sector Accounting Standards Board (IPSASB) and the International Monetary Fund (IMF) to discuss intervention activities conducted by various governments in response to the global financial crisis. The task force is also considering the application of accounting standards for reporting such actions.

The task force has three objectives:
1) To learn how governments are intending to deal with assets, obligations, and commitments acquired as a result of their actions in response to the financial crisis
2) To learn about, and identify the need for any improvements to, accounting standards developed to account for government actions in response to the financial crisis
3) To discuss reporting and valuation approaches for reporting these interventions

The task force has held meetings with five important sets of stakeholders and updated the IPSASB on its progress. It will provide the Board with a draft document summarizing its conclusions on October 31, 2009.

To learn more about the activities of the IPSASB, please visit www.ifac.org/PublicSector.
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9. IFAC/PAIB Collaborating with Prince of Wales Sustainability Project on Community Site

IFAC and the Professional Accountants in Business (PAIB) Committee continue to collaborate with The Prince of Wales' Accounting for Sustainability (A4S) Project, which has the aim of achieving a common approach to accounting for sustainability across the accountancy profession.

Currently, IFAC and A4S have partnered to develop a community website that will allow accountancy organizations, professionals, and other experts to share ideas, experiences, and views on sustainability issues. The site will also allow participants to work together on a variety of different projects, including case studies, content development, and broader com¬munity outreach to stakeholders, such as investors, academics, and regulators.

Progress on the development of this site will be reported in future IFAC news vehicles.
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10. PAIB Issues International Good Practice Guidance on Evaluating and Improving Costing

The Professional Accountants in Business (PAIB) Committee has published new International Good Practice Guidance (IGPG) to help professional accountants make decisions about their approaches to costing.

The IGPG, titled Evaluating and Improving Costing in Organizations, establishes six fundamental principles for evaluating and improving costing methods.

The guidance is targeted to professionals working in commerce, industry, as well as the public sector. It also recognizes the importance of distinguishing between the purposes and information needs of cost accounting to meet the demands of external reporting, cost measurement, and reporting for internal decision support in organizations.

A companion document for the guidance, titled Evaluating the Costing Journey: A Costing Levels Continuum Maturity Model, has also been published to help professional accountants decide upon the level of sophistication in the costing information they will need to provide, given the requirements of their organizations and the needs of managers and employees. The model can help professional accountants exercise professional judgment to assess their organization's existing costing capabilities. IFAC welcomes comments on this model, which is a beta version currently being tested by users for its effectiveness.

Both documents can be downloaded free of charge from the PAIB section of the IFAC online bookstore at www.ifac.org/Store.
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11. PAIB Launches Projects on Governance, Risk, and International Control

The Professional Accountants in Business (PAIB) Committee has launched two projects directed at improving guidance in the areas of governance, risk, and internal control.

The first initiative will involve developing a reconciliation of the PAIB Committee's International Good Practice Guidance (IGPG) principles with the OECD Principles of Corporate Governance. This project follows IFAC's recent publication of the IGPG, Evaluating and Improving Governance in Organizations, and IFAC's July submission to the G-20, which identifies corporate governance as a priority for reform.

IFAC's IGPG on governance complements the Organization for Economic Co-operation and Development (OECD) principles as its main purpose is to support PAIBs and to help their organizations evaluate and further improve their governance structures and systems. The IFAC principles help restore the balance between compliance and performance in organizations.

The PAIB Committee is also developing the IGPG, Evaluating and Improving Internal Control in Organizations. The goal will be to provide practical guidance that will focus on common pitfalls in the way current internal control systems are being deployed and what should be done to avoid these pitfalls.
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12. IOSCO Issues Statement Supporting Clarity ISAs

The International Organization of Securities Commissions (IOSCO) recognized the important role that International Standards on Auditing (ISAs) play in "facilitating cross-border securities offerings and listings" in a statement.

In the statement, IOSCO encouraged securities regulators to accept audits performed and reported in accordance with the clarified ISAs for cross-border offerings and listings. However, IOSCO recognized that the decision whether to do so will depend on a number of factors and circumstances in their jurisdiction. Furthermore, IOSCO noted the potential role of the clarified ISAs for purely domestic offerings and listings. Consequently, it encourages securities regulators and relevant authorities to consider the clarified ISAs when setting auditing standards for national purposes. However, IOSCO also recognizes that factors at the national and regional level will be relevant to their considerations.

IFAC welcomes the statement, which echoes support for ISAs recently expressed by the World Bank and the Basel Committee on Banking Supervision.
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13. Forum of Firms Workshop Focuses on Strengthening Global Internal Inspection Processes

Over 40 senior audit professionals from 23 international networks of accounting firms met to share their experiences, industry insights, and current practices in establishing and strengthening global internal inspection processes at a workshop recently organized by the Forum of Firms (the Forum).

The workshop featured a panel of experts who discussed new developments and innovations in a variety of areas, including inspection organization, methodology and staffing, practical implementation issues, and processes for internal reporting.

In order to achieve and maintain membership in the Forum, each member firm must follow international professional standards on quality control at the firm level and for each transnational audit engagement.
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14. Member Bodies Invited to Rate Competitors in 2009 Articles of Merit Competition

The Professional Accountants in Business (PAIB) Committee has invited professional accountants in business and business leaders to participate in selecting the winner of its 2009 Articles of Merit Award Program. The program seeks to identify commendable articles on financial and management accounting topics that appeared in publications of IFAC member bodies and associates. This year, the PAIB Committee judging panel has nominated 35 articles for the top award.

To view and rate the articles, please see http://web.ifac.org/PAIB/articles-of-merit-2009 before November 15, 2009. The winning article will be announced at the end of the year.
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15. IFAC and International Valuation Standards Council Sign MOU Agreement

IFAC and the International Valuation Standards Council (IVSC) have signed a Memorandum of Understanding (MoU) to enhance their respective impacts on issues surrounding valuations--particularly those related to improving the consistency of global valuation standards affecting the preparation and audits of financial reports.

IFAC and the IVSC will seek collaboration opportunities in areas of common interest, including improving the mutual understanding of valuers and auditors, of standards in relation to financial statements and the auditors' use of experts, and promoting the credibility and acceptability of valuations prepared in accordance with International Valuation Standards. As part of this collaboration, the IVSC has appointed Frank Bollman to serve on the Consultative Advisory Group of the International Auditing and Assurance Standards Board. Mr. Bollman is Managing Director in the European Practice of Duff & Phelps GmbH.
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16. Third Annual CReCER Conference Addresses Crisis, SMEs and Public Sector Reporting

The 3rd Annual CReCER (Spanish acronym for Accounting and Accountability for Regional Economic Growth) Conference took place September 23-25 in São Paulo, Brazil. The event, hosted by IFAC, the World Bank, and the Inter-American Development Bank, along with the support of the six largest global accounting networks, was attended by over 1,000 individuals.

The conference is designed to increase awareness of the critical importance of sound financial reporting and auditing for the development of a well-functioning market economy and of an efficient public sector. This year, the conference provided specific perspectives on the global financial crisis.

IFAC President Robert Bunting spoke at the conference, advocating a leadership role for the accounting profession in helping to lead the world out of the financial crisis. He emphasized the importance of supporting small- and medium-sized businesses and the accountancy firms that serve them in recovery from the recession. In addition, he called for governments to adhere to the same high standards of financial reporting as their private sector counterparts.

To learn more about the conference, please see the CReCER website: www.creceramericas.org/home.
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For more information about any of the items mentioned above or other information about IFAC, please contact communications@ifac.org.
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 157 members and associates in 123 countries and jurisdictions, representing more than 2.5 million accountants in public practice, education, government service, industry and commerce. Through its independent standard-setting boards, IFAC sets international ethics, auditing and assurance, education, and public sector accounting standards. It also issues guidance to encourage high-quality performance by professional accountants in business.

En esta edición:
1. IFAC Cumbre Contabilidad Apoya G-20 Respuesta a la Crisis Financiera
2. IFAC / La encuesta examina banquero préstamos a las PYME, El papel central de Contadores
3. IFAC Ejércitos Foro PSM en Beijing
4. IAASB Estrenos Nuevas Herramientas de Apoyo a la Adopción e Implementación de ISA Claridad
5. Cuestiones IAASB Personal Q & A Guía sobre la Implementación de ISA clarificados, Asuntos de las PYME
6. IAASB Consultas sobre instrumentos financieros complejos, Emisiones de Gases de Invernadero
7. Adopción y Aplicación de Materiales para el Código de Ética Revisado ya está disponible
8. IPSASB / Fuerza de Tarea Conjunta del FMI logra Progreso
9. IFAC / PAIB Colaborar con Príncipe de Gales Sostenibilidad del proyecto en la Comunidad de la web
10. Cuestiones PAIB Orientación Internacional de Buenas Prácticas sobre Evaluación y mejoramiento de Costeo
11. PAIB lanza proyectos sobre Gobierno Corporativo, Riesgo y Control Internacional
12. Declaración de Apoyo a la OICV Cuestiones NIA Claridad
13. Foro de Firmas taller se centra en reforzar la inspección del interior Procesos Globales
14. Organismos miembros invitados a los competidores en 2009 Tasa de artículos del Mérito de Competencia
15. IFAC y el Consejo de Normas Internacionales de Acuerdo sobre Valoración firman un MoU
16. Tercera Conferencia Anual Direcciones CReCER crisis, las PYME y Sector Público de Información