James R. Dalkin, CPA, CGFM, became Chair of the International Auditing and Assurance Board (IAASB) Consultative Advisory Group in March 2017.

Mr. Dalkin is a Director in the Financial Management and Assurance Team with the US Government Accountability Office (GAO). He has responsibility for directing GAO’s work to develop and maintain government auditing standards (the Yellow Book); internal control standards for the federal government (the Green Book); and GAO’s work with the accounting and auditing profession. He is also responsible for the audits of the US Securities Exchange Commission and the Federal Deposit Insurance Corporation.

In addition to his service with the IAASB, Mr. Dalkin previously served as a board member of the American Institute of CPA (AICPA)’s Auditing Standards Board and is an observer to the Committee of Sponsoring Organizations of the Treadway Commission (COSO) Advisory Board.

Mr. Dalkin is a frequent speaker at national auditing conferences for the AICPA and other professional organizations. He has also authored articles for publications, including the Journal of Accountancy. Mr. Dalkin also is an Adjunct Professor at Georgetown University (US).

Nearly three-quarters of OECD countries have adopted accrual accounting for their year-end financial reports and more than a quarter now prepare their annual budgets on an accrual basis, according to the landmark study Accrual Practices and Reform Experiences in OECD Countries by the International Federation of Accountants (IFAC) and the Organisation for Economic Co-operation and Development (OECD).

The study, which examined accounting and budgeting practices at the national government level in OECD countries, discusses the challenges and benefits of accruals reforms and considers what steps countries are taking to make better use of accrual information in the future.

“High-quality financial reporting is essential to ensure that governments make fiscal decisions based on up-to-date information and an accurate understanding of their financial position,” said Fayez Choudhury, IFAC CEO. “They provide a mechanism through which legislatures, auditors, and the public at large can hold governments accountable for their financial performance.”

The study showed that most OECD countries have reformed and modernized their financial reporting practices over the last few decades:

• approximately three-quarters of OECD countries have adopted accrual accounting for their year-end financial reports as a key priority;
• more than a quarter of OECD countries prepare their annual budgets on an accrual basis; and
• audit techniques and accounting standard-setting mechanisms have also evolved significantly in the wake of accounting reforms.

The study also points out that while the direct adoption of international accounting standards, such as International Public Sector Accounting Standards (IPSAS) or International Financial Reporting Standards (IFRS), by national governments remains very low, many standard setters use IPSAS or IFRS as primary or explicit references for developing their national standards.

“While governments still seek to improve the usefulness and comprehensibility of their financial reports, a majority of OECD countries expressed satisfaction that accounting reforms have already resulted in greater transparency and accountability of their financial operations,” said Jón R. Blöndal, Head of the OECD Budgeting and Public Expenditures Division.

A digital version of the report can be found at on the IFAC and OECD websites.

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 more than 175 members and associates in more than 130 countries and jurisdictions, representing almost 3 million accountants in public practice, education, government service, industry, and commerce.

About OECD
Working with over 100 countries, the OECD is a global policy forum that promotes policies to improve the economic and social well-being of people around the world.

Highlights from the IESBA's March 13-15, 2017, meeting in New York, New York.

0:10 Introduction

0:40 Overview from IESBA Chairman Dr. Stavros Thomadakis

5:29 Professional Skepticism

8:00 Part C of the IESBA Code

10:00 Fees Working Group Update

11:41 Proposed Staff-Prepared Q&As on Long Association

12:25 Closing Remarks

The 2016 IFAC Global SMP Survey asked practitioners operating in small- and medium-sized practices (SMPs) a number of questions about the challenges they face, the market factors most likely to affect them in the future, the consulting services they provide, and their performance, both in 2016 and projected for the year ahead. In addition, respondents were asked about their small- and medium-sized entity (SME) clients, including questions around the challenges they face and the extent of their engagement in international activities.

Highlights from the IPSASB's March 7-10, 2017, meeting in Washington, DC.

00:10 Introduction

1:00 Overview of March 6 Seminar, Harnessing the Power of Accrual in Managing Public Finances, from IPSASB Chair Ian Carruthers 

3:00 Overview of IPSASB Meeting from Chair Ian Carruthers 

5:10 Heritage

6:40 Revenue and Non-exchange Expenses

8:00 Social Benefits

9:20 Strategy and Work Plan

12:10 Closing Remarks

Opportunities, lessons learned, and ongoing challenges in the adoption and implementation of international standards and best practices across the Middle East and North Africa (MENA) region were recently explored during an IFAC Statements of Membership Obligations (SMOs) workshop in Sweimeh, Jordan, on January 21, 2017.

The IAASB is pleased to announce the appointment of Matthew Waldron as Technical Director.

In this role, Mr. Waldron works closely with the IAASB Chair to engage senior members of the global accountancy profession, the regulatory community, and other key stakeholders in support of, and to enhance, global public trust; and to manage the international audit and assurance standard-setting program.

Mr. Waldron leads and develops a dynamic team of highly-talented individuals that help influence the direction, shape, and content of leading-edge standard-setting projects. His team operates in a diverse and collegial environment, building strong relations with colleagues and peers who are passionate about international standard setting.

Previously, Mr. Waldron was a Director in the Financial Reporting Policy Group at CFA Institute, where he represented membership interests regarding audit and financial reporting proposals issued by the US Financial Accounting Standards Board, the International Accounting Standards Board, and other regulators and standard setters. Earlier in his career, he also worked for KPMG and PwC. Since 2014, Mr. Waldron has chaired the IAASB’s Consultative Advisory Group, in addition to serving as a member representative since 2007. Under Mr. Waldron’s leadership, the IAASB is now seeking to fill multiple vacancies.

Are you seeking an exceptional professional opportunity that combines your understanding of the public interest role of auditing and assurance standards with your desire to make a difference on a global stage?

The IAASB is seeking two talented individuals to fill a Principal and a Manager position based in New York. These impactful positions require knowledge of audit and assurance, an understanding of standard setting, and strong team work and leadership skills.

For the Principal position, we are looking for an individual with advanced expertise in auditing or assurance, or prior standard-setting experience. As a senior member of the IAASB, this position will be responsible for more technically challenging projects and initiatives as well as providing guidance to managers and support staff.

The Manager, Standards Development and Technical Projects position requires intermediate expertise in auditing or assurance. He or she will support senior IAASB staff on challenging projects while also taking primary responsibility for other important projects and activities.

The IAASB is responsible for global audit and assurance standard setting. Robust audit and assurance standards are fundamental to the way modern societies work, enhancing credibility and trust in a society’s external reporting. The IAASB achieves this through its commitment to advancing audit quality worldwide, developing standards that protect the interests of those who rely on audits, assurance, and other services, and are practicable for those who implement the standards.

The IAASB is supported by a talented team of professionals from different backgrounds, all of whom embrace the opportunities and challenges of collaborating on a global stage. This team assists the IAASB in serving the public interest by setting high-quality international standards, and by facilitating their adoption and implementation. We offer our team a competitive compensation and a superior benefits package, including medical, dental, retirement plans, and annual leave.

We invite you to apply for our open positions by March 31 and join our expert and dedicated team.

The IAASB is one of four independent international standard-setting boards whose operating structures are supported by the International Federation of Accountants. Most standard-setting staff positions for the IAASB and the International Ethics Standards Board for Accountants are based in New York, US. Standard-setting staff positions that support the International Public Sector Accounting Standards Board and International Accounting Education Standards Board are based in Toronto, Canada.