Newsletters & eNews
Jul 03, 2014
New York, New York
Translations and Permissions
Translations & Permissions eNews: July 2014
- World Congress Session on Best Practices in Translating Standards and Pre-Survey
- New Translations & Permissions Online Request Platform Coming Soon
- Fees for Reproduction of Authorized Translations
- Update on IberAm Project for Spanish Translations
- Reminder: Print Copies of Spanish IPSASB Handbook Now Available to Purchase
- Progress on Russian Translation of 2013 IAASB Handbook
- New Translations of IFAC Publications, Including Thai and Uzbek Translations
- FAQs—Logo Guidelines and Copyright Statements
- Important Changes to Registration on IFAC Website
- 2014 Handbooks—Available and Coming Soon
1. World Congress Session on Best Practices in Translating Standards and Pre-Survey
For the first time, the World Congress of Accountants (WCOA) will include “Translating International Standards and Guidance: Best Practices and Tools to Achieve Quality Translations”—a workshop to review relevant IFAC® procedures to help achieve high-quality and widely accepted translations, share best practices, including information on electronic translation tools. It will be particularly useful for IFAC member bodies and adopting authorities in developing their strategies and approach to translating international standards and pronouncements, and may serve as a catalyst to establishing a more permanent type of user forum for translating bodies.
The workshop will be held Wednesday, November 12; indicate your interest in attending when registering at the WCOA website: www.wcoa2014rome.com. In preparation for the session, we invite you to complete a short 3-minute survey consisting of 8 multiple-choice questions.
2. New Translations & Permissions Online Request Platform Coming Soon
To make it easier and more efficient to manage your translations and permissions requests, IFAC will launch a new permissions request management system in the coming months. If you haven’t already registered on the IFAC website, you can create an account here.
Registered users will be able to use the new platform to manage all their requests in one place, clone existing requests to save time when placing new ones, and view the status of pending requests. Look for the new system on the Translations & Permissions home page in the third quarter.
3. Fees for Reproduction of Authorized Translations
The availability of high-quality, faithful, and sustainable translations is vital to the adoption and effective and consistent implementation of international standards, and IFAC appreciates the resources and assistance that its designated translating bodies provide to help achieve that goal.
The IFAC Board decided in 2013 to introduce an annual license/waiver fee for using IFAC-copyrighted materials, which generally applies to third parties wishing to reproduce materials translated by IFAC’s designated translating bodies.Such third parties might include non-IFAC member body adopting authorities, national standard setters, public sector entities, or IFAC member bodies other than the designated translating body. The intention of this fee is to help ensure sustainable translation processes. The amount of the annual license/waiver fee depends on a number of factors, such as the content requested, the rights granted by IFAC, and the size of the economy where the translated material will be used.
Before using or undertaking any translation, please check with IFAC to ensure you have appropriate permission. IFAC staff will advise of the process and next steps, as well as the relevant fee, if any. Inquiries may be addressed to firstname.lastname@example.org.
4. Update on IberAm Project for Spanish Translations
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, high-quality, faithful Spanish translation of international standards and IFAC publications, press releases, and newsletters.
During meetings in March and June 2014, the IberAm Executive Committee discussed the status of the 2013 work plan and approved the work plan for 2014. The two plans together include approximately 2,500 pages of translated material. The IberAm Review Committee, consisting of institutional representatives from nine Spanish-speaking countries, has held virtual meetings on a regular basis to review and approve the translated materials and to ensure a seamless and efficient collaboration. Look for these Spanish translations as they are finalized and become available later in 2014.
5. Reminder: Print Copies of Spanish IPSASB Handbook Now Available to Purchase
The Spanish translation of the 2013 Handbook of International Public Sector Accounting Pronouncements, issued by the International Public Sector Accounting Standards Board® (IPSASB®), is available for purchase from the IFAC website. Facilitated by IFAC, with funding assistance from the World Bank, the translation was performed by the Department of Accounting and Finance at the University of Zaragoza, Spain. It was reviewed by an international committee consisting of public sector experts from Argentina, Chile, Mexico, Spain, and Uruguay.
IFAC member bodies are encouraged to contact the relevant public sector entities in their countries, especially governmental entities such as ministries of finance, public sector accounting standard setters, and supreme audit institutions, to make them aware of the availability of this important publication. Purchase now on the IFAC website: 2013 Manual de Pronunciamientos Internacionales de Contabilidad del Sector Público.
6. Progress on Russian Translation of 2013 IAASB Handbook
Earlier this year, the National Organization for Financial Accounting and Reporting Standards (NOFA) Foundation became a designated translating body for the Russian version of the International Auditing and Assurance Standards Board® (IAASB®)’s pronouncements. The NOFA Foundation is also the official translating body for the Russian version of International Financial Reporting Standards.
The Review Committee established by the NOFA Foundation represents the Russian Federation and other countries where Russian is an official language—Belorussia, Kazakhstan, and Kyrgyzstan. The Review Committee has finalized the translation of key terms from the pronouncements and made significant headway on the 2013 IAASB Handbook, which is expected to be completed in 2015. To date, the committee has translated and reviewed International Standard on Quality Control™ (ISQC™) 1, and many International Standards on Auditing™ (ISAs™) are in the process of translation and review.
In the meantime, the Russian translation of the 2012 edition of the IAASB Handbook, translated by the Russian Collegium of Auditors, a designated translating body, is available for purchase in print and electronic format. See the IFAC Translations Database.
7. New Translations of IFAC Publications, Including Thai and Uzbek Translations
With the addition of Thai and Uzbek, IFAC publications have now been translated into 48 languages. To view translated publications, please see the Translations Database.
- Arabic—Handbook of International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements (2013); Handbook of the Code of Ethics for Professional Accountants (2013)
- Bulgarian—Handbook of International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements (2013)
- Dutch—Guide to Practice Management for Small- and Medium-sized Practices, Third Edition (2012); International Standard on Assurance Engagements™ (ISAE™) 3420, Assurance Engagements to Report on the Compilation of Pro Forma Financial Information Included in a Prospectus (2011); Proposed International Standard on Review Engagements (ISRE) 2400 (Revised), Engagements to Review Historical Financial Statements (2011)
- French—IFAC SMP Quick Poll: 2013 Year-End Round-Up (2013); Discussion Paper, The Role and Expectations of a CFO: A Global Debate on Preparing Accountants for Finance Leadership (2013)
- Finnish—Guide to Quality Control for Small- and Medium-Sized Practices, Third Edition (2011)
- Georgian—The Standard for Limited Assurance Review Engagements: Addressing the Needs of Small- and Medium-sized Entities (2012)
- Hungarian—ISRE 2400 (Revised), Engagements to Review Historical Financial Statements (2013); International Standard on Auditing (ISA) 610 (Revised), Using the Work of Internal Auditors (2013)
- Latvian—ISA 315 (Revised), Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and its Environment (2012); ISA 610 (Revised), Using the Work of Internal Auditors (2012)
- Portuguese—Handbook of International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements (2012)
- Russian—Handbook of International Public Sector Accounting Pronouncements (2013)
- Romanian—International Education Standards™ (IES™) 1–7
- Slovenian—ISA 610 (Revised), Using the Work of Internal Auditors (2013); ISRE 2400 (Revised), Engagements to Review Historical Financial Statements (2013)
- Spanish—IFAC Monthly Updates; Global Digests; various press releases and newsletters from IFAC and standard-setting boards; “Developing and Reporting Supplementary Financial Measures” (2014); “Review Engagements—A Value-Adding Client Service” (2014)
- Thai—ISAE 3420, Assurance Engagements to Report on the Compilation of Pro Forma Financial Information Included in a Prospectus (2013); ISA 315 (Revised), Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and Its Environment (2013); ISA 610 (Revised 2013), Using the Work of Internal Auditors and Related Conforming Amendments (2013); Evaluating and Improving Internal Control in Organizations (2012); Evaluating and Improving Governance in Organizations (2009)
- Turkish—ISAs 530, 540, 550, 560, 570, 580, 600, 610, 700, 705, 706, 710, and 720 (2012)
- Uzbek—Handbook of International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements (2012); Handbook of the Code of Ethics for Professional Accountants (2012)
8. FAQs—Logo Guidelines and Copyright Statements
We’d like to thank IFAC member bodies and others that have been active in their efforts to translate the resources and international standards published on IFAC’s website. As a reminder, when finalizing translations, member bodies should follow the appropriate copyright protocol and guidelines for the use of the IFAC logo. Please refer to individual translation agreements and the graphics guidelines provided on our website.
In addition, IFAC reminds all translating bodies to follow the proper steps to ensure the inclusion of relevant copyright statements and other formalities in the reproduction and/or translation of any IFAC materials. In addition, IFAC requests that member bodies remind adopting authorities to ensure that they have the necessary translation or reproduction agreements in place with IFAC, and to attribute content appropriately. Please use the Translations & Permissions Frequently Asked Questions (FAQs) as a resource and contact email@example.com with any additional questions.
9. Important Changes to Registration on IFAC Website
IFAC hosts and distributes hundreds of publications on its website. Register now to create a free account to continue to access the international standards set by the independent boards supported by IFAC, as well as to the valuable guidance, thought leadership, and policy positions developed by IFAC and its committees. As of June 25, 2014, registration is required to continue to access IFAC’s Publications & Resources.
Only registered users can customize their subscriptions to press releases, issues of eNews, and The Latest from the Global Knowledge Gateway™; submit comments on exposure drafts and consultation papers; nominate a board or committee member; and comment, recommend, and suggest content for the Global Knowledge Gateway. Registered users will able be able to submit translation and permission requests (see above) when the new platform is launched in the third quarter.
10. 2014 Handbooks—Available and Coming Soon
The English versions of the 2014 Handbook of International Education Pronouncements and Handbook of International Public Sector Accounting Pronouncements are now available on the IFAC website. Print copies are available for purchase, and electronic versions may be downloaded from the website for personal use. The Handbook of the Code of Ethics for Professional Accountants will be published in July, and the Handbook of International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements will be available in the third quarter of this year.