Translations & Permissions eNews: August 2012

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    Aug 30, 2012
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    Translations & Permissions eNews: August 2012

    Welcome to IFAC's Translations & Permissions eNews.

    In This Issue:

    1. Member Body Teamwork Leads to Single, Spanish Translations of the Handbook of International Standards on Auditing and Quality Control and the Code of Ethics for Professional Accountants
    2. Spanish Translations of Key Small- and Medium-Sized Practices Publications
    3. Handbook of International Public Sector Accounting Pronouncements Now Available in Spanish
    4. IFAC, CNOCP Reach Agreement on French Translation of IPSASB Handbook
    5. Russian Translation of IAASB Handbook Completed and Undergoing Final Review
    6. IPSASB 2010 Handbook Available in Russian
    7. PAO Development Committee Toolkit, IPSASB 2011 Handbook Available in Arabic
    8. Chinese Translation of Key Publications in Progress
    9. What to Watch for in 2012

     

    1. Member Body Teamwork Leads to Single, Spanish Translations of the Handbook of International Standards on Auditing and Quality Control and the Code of Ethics for Professional Accountants

    After more than two years of collaboration, a group of IFAC member bodies has produced a single, Spanish translation of the Handbook of International Standards on Auditing and Quality Control of the International Auditing and Assurance Standards Board (IAASB).

    The Instituto de Censores Jurados de Cuentas de España (ICJCE) and Instituto de Contabilidad y Auditoría de Cuentas translated the handbook, which was reviewed by a Latin American committee led by Federación Argentina de Consejos Profesionales de Ciencias Económicas (FACPCE), with IFAC member bodies in Bolivia, Chile, Colombia, Costa Rica, Mexico, Panama, Paraguay, and Uruguay, and other key stakeholders. The Directorate General of Translations (DGT) of the European Commission also reviewed it for its European Union acceptability.

    The Code of Ethics for Professional Accountants of the International Ethics Standards Board for Accountants was translated by ICJCE and reviewed by Instituto Mexicano de Contadores Públicos (IMCP), together with FACPCE and the above-mentioned Latin American review committee.

    Both include an unofficial Table of Equivalencies, showing the differences between Spanish and Latin American terminologies.

    More information can be found in the April 18, 2012 and May 11, 2012 press releases.

     

    2. Spanish Translations of Key Small- and Medium-Sized Practices Publications

    The Guide to Quality Control for Small- and Medium-Sized Practices, Third Edition, was published in May by IMCP after being reviewed by ICJCE.

    The Guide to Using International Standards on Auditing in the Audits of Small- and Medium-Sized Entities, Second Edition (“ISA Guide”) has been translated by IMCP and is presently undergoing final review by ICJCE. Publication of the translated ISA Guide, as well as the Guide to Practice Management for Small- and Medium-Sized Practices, Second Edition is expected later in 2012.


    3. Handbook of International Public Sector Accounting Pronouncements Now Available in Spanish

    Members of the Department of Accounting and Finance, Faculty of Economics and Business Administration, at the University of Zaragoza, Spain, have produced a Spanish-language version of the Handbook of International Public Sector Accounting Pronouncements – 2011 Edition.

    An international committee consisting of public sector experts from Argentina, Chile, Mexico, Spain, and Uruguay also reviewed the translated handbook.

    A Spanish translation of International Public Sector Accounting Standards Board’s (IPSASB’s) Study 14 - Transition to the Accrual Basis of Accounting: Guidance for Governments and Government Entities was also recently published.

    International Public Sector Accounting Standards (IPSAS) 32 Service Concession Arrangements: Grantor and the 2011 Annual Improvements document are translated and undergoing final review to be published later this year.

    These projects were made possible with assistance from the World Bank and contributions from the Spanish Fund for Latin America and the Caribbean.

     

    4. IFAC, CNOCP Reach Agreement on French Translation of IPSASB Handbook

    France’s Public Sector Accounting Standards Council (Conseil de normalisation des comptes publics -CNOCP) and IFAC recently signed an agreement to translate the IPSASB’s Handbook of International Public Sector Accounting Pronouncements into French in 2012. Efforts are currently under way to complete the translation.

     

    5. Russian Translation of IAASB Handbook Completed and Undergoing Final Review

    Following discussions originating at the 2010 World Congress of Accountants, as well as a recent Translations Roundtable hosted by the Russian Collegium of Auditors on April 23 in Moscow and attended by IFAC’s Daria Koukhar, technical manager, Member Body Development, a Russian translation of Part 1 of the 2010 edition of the Handbook of International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements has been completed and is undergoing final review by a committee of Russian and Commonwealth of Independent States stakeholders. Publication is expected in early September 2012. The Chamber of Auditors of the Republic of Kazakhstan is currently translating Part 2.

     

    6. IPSASB 2010 Handbook Available in Russian

    The Handbook of International Public Sector Accounting Pronouncements (May 2010) has been translated into Russian by the Consortium of ZAO BDO and LLC “Institute for Budget Decisions” and was recently published. Please see Translations Database for more information.

     

    7. PAO Development Committee Toolkit, IPSASB 2011 Handbook Available in Arabic

    The Professional Accountancy Organization Development Committee’s Establishing and Developing a Professional Accountancy Body and the 2011 version of the Handbook of International Public Sector Accounting Pronouncements are now available in Arabic.

    The PAO Development Committee Toolkit, translated by the Saudi Organization for Certified Public Accountants, is also available.

    The IPSASB 2011 Handbook was translated by the Arab Society of Certified Accountants (Jordan) and is currently available.

     

    8. Chinese Translation of Key Publications in Progress

    The Chinese Institute of Certified Public Accountants is currently completing Chinese translations of the 2010 editions of the Handbook of International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements and the Handbook of the Code of Ethics for Professional Accountants, along with the Guide to Quality Control for Small and Medium-Sized Practices, Third Edition, and the Guide to Practice Management for Small- and Medium-Sized Practices.

     

    9. What to Watch for in 2012:

    • Updated Translations & Permissions FAQs on the Way

    A revised version of “Translations & Permissions Frequently Asked Questions” will be available in early September. Please check the Translations & Permissions web site.  

     

    • Iberian-American Cooperation Project for Sustainable Spanish Translations Agreement Expected

    IFAC is currently working with its member bodies from Argentina, Mexico, and Spain on a Memorandum of Understanding (MOU) regarding translation and future cooperation to achieve sustainable Spanish language translations of the international standards. The draft MOU is currently under review and the parties will meet in New York City in early October with a view to finalizing it.

     

    • Please Check IFAC’s Translations Database Regularly for Updates

    The list of new translations of IFAC publications by third parties is continuously updated, so please visit Translations Database for the latest information available. 

     

    • Use of Translation Memory Software Encouraged

    Use of translation memory software can assist in achieving high-quality and sustainable translation processes. In addition to enhancing consistency in the use of translated terminology, use of translation memory software makes it possible to share and reutilize translated content, thereby reducing processing time and the need to perform multiple or new translations. It can also help to reduce translation costs.

    IFAC’s designated translating bodies are encouraged to use translation memory software where possible to enhance the quality and efficiency of their translations, to contain translation costs and to achieve sustainable translation processes. Please contact permissions@ifac.org with questions or for more relevant information.

     

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