martes, 31 de agosto de 2010

Boletín del Comité de Contadores Profesionales en Empresas (PAIB)

FEBRUARY 05, 2010
Thank you for signing up to receive eNews from the Professional Accountants in Business (PAIB) Committee of the International Federation of Accountants (IFAC). We welcome your comments.
This issue of the PAIB eNews focuses primarily on the subject of Business and Financial Reporting.
In This Issue:
News on Business and Financial Reporting
1. Third Phase of IFAC Business Reporting Project Nears Completion
2. IAASB issues Q&As to Raise Awareness of XBRL Uses in Business Reporting
3. Other Developments in XBRL from IFAC Members and International Organizations
4. IFAC Global Seminar Explores Future of Financial Reporting
5. Other Developments in Business Reporting from IFAC Members and International Organizations
Other PAIB Committee News
6. IFAC Publishes 2009 Articles of Merit for Professional Accountants in Business
7. PAIB Launches New Projects
8. Next PAIB Meeting Schedule for April in Geneva
9. Share PAIB eNews with Your Colleagues
News on Business and Financial Reporting
1. Third Phase of IFAC Business Reporting Project Nears Completion
The third phase of IFAC's comprehensive review of global business reporting trends is nearing completion. IFAC's Business Reporting Steering Group has finalized a series of interviews with key leaders within the professional and regulatory arena designed to provide practical solutions for making business reporting more useful and for further improving the communication on performance between a business and its stakeholders.
The IFAC review was launched in 2007 to determine where the financial reporting supply chain had improved over the past few years and what could be done to make financial reporting more relevant, reliable and understandable. The previous two phases of the project, involving studies on the progress of financial reporting reform globally and in specific jurisdictions, culminated the publication of the following two reports:
• Financial Reporting Supply Chain: Current Perspectives and Directions (March 2008)
• Developments in the Financial Reporting Supply Chain-Results from a Global Study among IFAC Member Bodies (February 2009)
The key leaders who where interviewed for the third phase of this project explore potential solutions to a number of important issues raised in the previous reports.
One of the most important, and most consistent, themes expressed during these interviews was the need for improvement in the current format of business reporting to make it more useful to investors and other users, for example the need to better integrate sustainability, corporate governance, strategy and risk management into business reporting to enable stakeholders to make a more informed assessment of the economic value of a company. Other important themes included the increased use of plain English, XBRL, websites and other modern multimedia technologies to offer multi-layered information.
The interview highlights were presented at the IFAC Global Seminar, held on November 17, 2009 in Washington, D.C.
Publication of the interview articles, including a proposed action plan by the IFAC Business Reporting Steering Group, is planned for later in 2010. More information about this project can be found at
2. IAASB issues Q&As to Raise Awareness of XBRL Uses in Business Reporting
Recognizing the growing international use of Extensible Business Reporting Language (XBRL), the staff of the International Auditing and Assurance Standards Board (IAASB) has developed a new question-and-answer publication. It is designed to raise awareness about how XBRL-tagged data is prepared and how it may affect financial reporting.
Entitled XBRL: The Emerging Landscape, the publication explains that the IAASB's current International Standards on Auditing (ISAs) were not developed with XBRL in mind and, accordingly, do not require auditors to perform procedures on XBRL-tagged data as part of a financial statement audit. It also clarifies how XBRL may lead to a demand for various types of assurance and related services engagements, and describes the scope of the IAASB's planned consultations to determine whether to develop a new international pronouncement addressing XBRL.
The publication is available to download free of charge from the IAASB section of IFAC's Publications and Resources site:
3. Other Developments in XBRL from IFAC Members and International Organizations
A. The ACCA Research Report no 111, XBRL: The Views of Stakeholders
The Association of Chartered Certified Accountants (ACCA) has released a research report, no 111, XBRL: The Views of Stakeholders, which provides a variety of viewpoints related to the use of eXtensible Business Reporting Language in financial reporting.
B. FEE Issues XBRL Policy Statement
The Fédération des Experts comptables Européens (FEE) has issued eXtensible Business Reporting Language (XBRL) - The Impact on Accountants and Auditors, a policy statement to briefly explain XBRL, its impact on accountants and auditors as well as FEE's position on the language. and
C. ACRA Launches First XBRL-Enabled Financial Analysis Tool
The Accounting and Corporate Regulatory Authority (ACRA) of Singapore has launched Open Analytics, the first XBRL-enabled interactive financial analysis tool on the financials of Singapore companies.
D. ICAEW Publishes Digital Reporting Options for Europe: a Socio-Technical Analysis of Interactive Data from the Perspective of Non-Professional Investors
The Institute of Chartered Accountants in England and Wales has published Digital Reporting Options for Europe: a Socio-Technical Analysis of Interactive Data from the Perspective of Non-Professional Investors, which reports the findings of a detailed analysis of the social and technical factors that were important in the development of the SEC's interactive data project and assesses the prospects for a similar development in Europe.
E. To learn more about the XBRL International initiative, please go to the organization's main site at
4. IFAC Global Seminar Explores Future of Financial Reporting
In November, IFAC hosted the IFAC Global Seminar and 32nd Council Meeting, which addressed many important issues related to the financial crisis and the future of financial reporting.
Topics addressed during the Seminar included convergence of standards in the financial reporting world, the case for international standards, and the role of the public sector in financial stability.
5. Other Developments in Business Reporting from IFAC Members and Other International Organizations
Business Reporting Topics
A. CGA-Canada Report on Convergence of Standards and
The Certified General Accountants Association of Canada (CGA-Canada) has released a report, Fair Value Accounting: The Road to be Most Travelled, which states that much of the controversy surrounding fair value accounting could be abated by the adoption of consistent high-quality global accounting standards.
B. IASB: Exposure Draft Management Commentary
The International Accounting Standards Board (IASB) has issued an Exposure Draft (ED), Management Commentary, which explores the benefits of management commentary to financial reports. The ED is open for comment until March 1, 2010.
C. ICAEW Report Developments in New Reporting Models
The ICAEW has released a report, Developments in New Reporting Models, which looks at the public calls for a new model in relation to both financial and non-financial reporting, and identifies underlying features of the development of business reporting.
D. Royal NIVRA Publishes Non-Financial Information in Progress
The Koninklijk Nederlands Instituut van Registeraccountants (Royal NIVRA) has published Non-Financial Information in Progress, a guide to the reporting and assurance of non-financial information in the public sector.
E. CICA issues Striving for Improvement; Revised MD&A Guide
The Canadian Performance Reporting Board of the Canadian Institute of Chartered Accountants (CICA) issued Striving for Improvement-A Review of Management's Discussion and Analysis in 2008 Annual Reports. It summarizes the results of applying an MD&A self-assessment checklist to a wide range of companies. The publication discusses how companies have adapted their reporting as a result of the financial crisis and illustrates some real-life examples of best-practice disclosures in these uncertain times. CICA has also issued the revised MD&A guide: MD&A Guidance on Preparation and Disclosure- Comprehensive Revision, Update #3, July 2009.
F. For other recent publications on sustainability, governance, risk and internal control, please go to
Topics Related to Sustainability
A. CDSB: Proposed Reporting Framework
The Technical Working Group (within which IFAC is represented) and the Secretariat of the Carbon Disclosure Standards Board (CDSB) has developed a framework for climate change-related disclosure to be used by companies in compiling their mainstream annual corporate reports.
B. The A4S Project
The Forum of the Prince of Wales's Accounting for Sustainability (A4S) Project, which met in December 2009 (, proposed the creation of an "International Connected Reporting Committee" to oversee the development of a connected and integrated approach to corporate reporting.
C. New ICAEW Guide on Environmental Reporting in Financial Statements:
The Institute of Chartered Accountants in England and Wales (ICAEW), in association with the Environment Agency, has launched a new guide on reporting environmental issues in annual financial statements. Environmental issues and annual financial reporting is available for download from environment-agency or responsibility.
D. SEC Issues Guidance on Climate Change Disclosure
The US Securities and Exchange Commission has voted to provide public companies with interpretive guidance on existing SEC disclosure requirements as they apply to business or legal developments relating to the issue of climate change.
E. CICA Paper on Climate Change Disclosures
The Canadian Institute of Chartered Accountants (CICA) has a paper regarding Management Discussion and Analysis of environmental issues. Titled Building a Better MD&A - Climate Change Disclosures, the publication has five sections devoted to climate change disclosure, including an orientation to the business issues of climate change and a discussion on what investors want to know.
Other PAIB Committee News
6. IFAC Publishes 2009 Articles of Merit for Professional Accountants in Business
IFAC's member bodies have chosen "Enterprise Governance" as the top article published in 2009 Articles of Merit for Professional Accountants in Business (PAIB). The Articles of Merit Award Program identifies and promotes outstanding articles on financial and management accounting topics that have previously appeared in the publications of IFAC's member bodies and associates. The articles were selected by the PAIB Committee and visitors to IFAC's International Center for Professional Accountants in Business.
The 2009 winning article challenges conventional business thinking: Businesses should be more circumspect during a boom and be better prepared to take risks under harsh conditions. It was first published in Financial Management, the monthly members' magazine of the Chartered Institute of Management Accountants. The publication's nine runner-up articles offer additional advice and insights for professional accountants in business on such topics as capital grants, investment appraisal, and shared services, with useful ideas on matters such as governance and risk management, accounting for sustainability, and writing board reports.
The 2009 Articles of Merit, together with previous publications, can be downloaded free of charge from the Publications & Resources section of the IFAC website. Each of the ten articles may also be downloaded individually.
7. PAIB Launches New Projects
The PAIB Committee is developing a discussion paper, Strong and Adaptive - How PAIBs Create Sustainable Value for Their Organizations in a Changing Business Environment, that links trends in the business environment to the successful value drivers of high performing organizations and future expectations of the roles and key competencies of professional accountants in business. This paper is expected to be available for consultation in June.
The committee has also started the development of principles-based guidance in the area of predictive performance measurement and analytics, a core activity for many PAIBs performing roles in improving decision making capability or taking decisions. This will be available towards the end of 2010.
8. Next PAIB Meeting Scheduled for April in Geneva
The PAIB Committee has scheduled its next meeting for Geneva on April 22nd -April 23rd.
Highlights from previous PAIB Committee meetings can be downloaded at
9. Share PAIB eNews with Your Colleagues
The PAIB issues regular eNews updates to keep you current on its activities and recent publications. Please forward this eNews to any interested colleagues and advise them that they can subscribe to receive this eNews by following these simple steps:
1. Go to the eNews sign-up page at
2. Enter your email address, name, and country.
3. Select "PAIB eNews" from the checklist, as well as any other eNews alerts that you would like to receive.
The next issue of the PAIB eNews will be delivered directly to you in your inbox.
For more information about any of the items mentioned above or other information about the PAIB Committee, please contact
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 159 members and associates in 124 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.

You may edit or remove your subscription from IFAC's eNews service by clicking here:

No hay comentarios: