Translations & Permissions eNews: February 2014

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    Feb 21, 2014
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    Translations & Permissions eNews: February 2014

    1. Now Available: Print Version of Spanish IPSASB Handbook
    2. Update on Ibero-American Cooperation Agreement
    3. Availability of Single Spanish Translation Facilitates Adoption of IAASB and IESBA Pronouncements in Colombia
    4. Update on Russian Translation of the IAASB Handbook
    5. IFAC News Recaps Arabic Translation Efforts
    6. French Translation of PAO Development Committee Toolkit Now Available
    7. Newly Available Translated Publications
    8. Questions Regarding Use of IFAC Logo
    9. Copyright Reminder

    1. Now Available: Print Version of Spanish IPSASB Handbook

    IFAC, in cooperation with the World Bank and the Department of Accounting and Finance at the University of Zaragoza, Spain, recently finalized the Spanish translation of the 2013 Handbook of International Public Sector Accounting Pronouncements, issued by the International Public Sector Accounting Standards Board (IPSASB). The translation was reviewed by an international committee consisting of public sector experts from Argentina, Chile, Mexico, Spain, and Uruguay. IFAC is grateful for the valuable contributions and kind assistance of all those involved. The publication is an important resource for those in the public sector; IFAC member bodies are encouraged to visit the IFAC website and contact the relevant public sector entities in their countries to make them aware of the availability of this important publication of translated pronouncements. The print version of the translated handbook is available for sale from the IFAC website.

     

    2. Update on Ibero-American Cooperation Agreement

    In October 2012, IFAC and its member bodies in Argentina, Mexico, and Spain agreed to establish an Ibero-American Cooperation Framework (the “IberAm project”) to collaborate on a sustainable process for producing a single Spanish translation for international standards and IFAC publications. Due to the large number of countries where Spanish is an official language, the availability of high-quality Spanish translations of international standards is essential to facilitate effective global adoption and implementation. The IberAm project includes a broad representation of Spanish-speaking countries and seeks to collaborate and coordinate the translating resources of relevant member bodies more efficiently for the benefit of the global accountancy profession.

    The IberAm Review Committee is actively working on the review of more than 1,500 pages of material translated in 2013. The review is expected to be finalized in March 2014. Additionally, the Executive Committee of the IberAm project is scheduled to meet in early March to discuss ongoing translation and review efforts, as well as priorities for 2014.

     

    3. Availability of Single Spanish Translation Facilitates Adoption of IAASB and IESBA Pronouncements in Colombia

    The Instituto Nacional de Contadores Públicos (INCP), the Colombian Ministry of Commerce, Industry and Tourism, and IFAC recently signed agreements enabling official adoption of the pronouncements of the International Auditing and Assurance Standards Board (IAASB) and the International Ethics Standards Board for Accountants (IESBA) in Colombia. The availability of a single, high-quality Spanish translation of these pronouncements is an essential element in facilitating such adoption. These translations were produced as a result of the Ibero-American Cooperation Framework (the “IberAm project,” see item 2 above). This development highlights the increasing adoption of pronouncements from these boards in non-English speaking countries, with the Latin American region being of particular economic importance. IFAC would like to extend its gratitude to INCP for the valuable and ongoing assistance it is providing to facilitate adoption of the international standards in Colombia.

     

    4. Update on Russian Translation of the IAASB Handbook

    Following a recent agreement, the National Organization for Financial Accounting and Reporting Standards (NOFA) Foundation has become a designated translating body for the Russian version of the International Auditing and Assurance Standards Board (IAASB)’s pronouncements. This agreement is an important step in enabling adoption of the pronouncements of the IAASB in the Russian Federation. The NOFA Foundation is currently translating the 2013 IAASB Handbook, which is expected to be completed in 2015.

    The NOFA Foundation, a non-commercial organization, promotes the rules and standards for financial accounting and reporting in the Russian Federation and encourages implementation by Russian enterprises. The NOFA Foundation is also the official translating body for the Russian version of the International Financial Reporting Standards.

    The most recent translation of the IAASB Handbook (the 2012 edition) was performed by the Russian Collegium of Auditors (RCA), and is available for purchase on the RCA website. For more information on RCA and its translation efforts, please see the article, “RCA: Leveraging Translation Expertise,” in the August edition of IFAC News. IFAC thanks both RCA and the NOFA Foundation for their instrumental efforts in producing Russian translations of the international standards.

     

    5. IFAC News Recaps Arabic Translation Efforts

    The translation activities of the International Arab Society of Certified Accountants (IASCA) and the Saudi Organization for Certified Public Accountants (SOCPA), two of the designated bodies for Arabic translation of materials from IFAC and the independent standard-setting boards, were detailed in the latest issue of IFAC News. Both organizations seek to advance accountancy, auditing, and related fields through the distribution of professional knowledge in Arabic. These translations serve professional accountants in 22 Arabic-speaking nations. IFAC would like to extend its gratitude to IASCA and SOCPA for their efforts in producing high-quality translations for the Arabic speaking world. Links to resources translated into Arabic can be found in the Translations Database.

     

    6. French Translation of PAO Development Committee Toolkit Now Available

    Materials designed to help professional accountancy organizations (PAOs) strengthen and grow have recently been translated into French. Establishing and Developing a Professional Accountancy Body, originally published by the IFAC PAO Development Committee, covers the roles and responsibilities of a professional accountancy organization, education and examinations, and capacity development. A French translation of the PAO Development Committee’s Tools and Resources to Support the Development of the Accounting Profession, which includes case studies, practical illustrations, and supplementary guidance to support organizations in expanding and strengthening their role and responsibilities, is in progress and is expected to be available soon. The two documents make up the PAO Development Committee’s toolkit for PAOs. IFAC would like to thank the Ordre des Experts Comptables de Tunisie for their efforts in the translation of these resources. 

     

    7. Newly Available Translated Publications

    To view translated publications, please see the Translations Database.

    • Arabic—Handbook of International Public Sector Accounting Pronouncements (2013)
    • Czech—Handbook of International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements (2013)
    • Finnish—Handbook of International Quality Control, Auditing, Review, Other Assurance, and Related Service Pronouncements (2013), Handbook of the Code of Ethics for Professional Accountants (2013)
    • Farsi—Professional Accountancy Organization Development Committee Perspectives (2012) 
    • French—Reporting on Audited Financial Statements: Proposed New and Revised International Standards on Auditing (ISAs) (2013), Handbook of International Public Sector Accounting Pronouncements (2012)
    • Georgian—Guide to Using International Standards on Auditing in the Audits of Small- and Medium-Sized Entities (2010)
    • Hungarian—Statement of Membership Obligations (SMOs) 1-7 (Revised) (2012), International Education Standards (IES) 1,5,6,7 (Various Years)
    • Kazakh—Handbook of International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements (2012), Handbook of International Public Sector Accounting Pronouncements (2013)
    • Latvian—International Standard on Review Engagements 2400 (Revised 2012): Engagements to Review Historical Financial Statements (2012)
    • Polish—Guide to Quality Control for Small- and Medium-Sized Practices (2011), Guide to Practice Management for Small- and Medium-Sized Practices (2012)
    • Romanian—Proposals for Enhancing the Auditor’s Report: Potential Impact on Audits of Unlisted Entities (2013)
    • Russian—Handbook of International Quality Control, Auditing, Review, Other Assurance and Related Services Pronouncements - Part I (2013)
    • Spanish—Global Digest (September and October 2013), IFAC Update (September and November 2013), Translations & Permissions November eNews (2013)
    • Thai—International Education Standard (IES) 6, Initial Professional Development – Assessment of Professional Competence (Revised) (2013), Handbook of the Code of Ethics for Professional Accountants (2012), International Auditing Practice Note 100  Special Consideration in Auditing Financial Instrument (2013)
    • Turkish—International Standards on Auditing (ISAs), 300-520 (2012)
    • Ukrainian—Handbook of International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements (2012)

     

    8. Questions Regarding Use of IFAC Logo

    IFAC’s Translations and Permissions Department would like to take the opportunity to thank IFAC member bodies that have been active in the effort to translate resources. IFAC recognizes that the time and labor costs of translating materials can be rather high; the dedication of the translating member bodies is greatly appreciated.

    IFAC asks that, in the finalization of translations, member bodies follow the appropriate copyright protocol regarding use of the IFAC logo. Please refer to individual translation agreements and the graphics guidelines provided on our website. Please use the Translations and Permissions Frequently Asked Questions as a resource and contact Translations and Permissions (permissions@ifac.org) with any additional questions. 

     

    9. Copyright Reminder

    IFAC is encouraged by the numerous translation efforts and activities by member bodies, regulatory authorities, and others internationally and views these efforts as progress toward global adoption and implementation of the international standards. However, there have been multiple instances of neglect regarding adherence to copyright protocol. IFAC asks that the proper steps be taken to ensure inclusion of relevant copyright statements and other formalities in the publication of any IFAC materials, including translations. Furthermore, IFAC requests that member bodies remind adopting authorities to ensure that they have the necessary translation or reproduction permission from IFAC, and to attribute content appropriately. Please contact Translations and Permissions (permissions@ifac.org) with any questions.

     

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