The International Auditing and Assurance Standards Board (IAASB) announces the following new appointments and re-appointments to take effect on January 1, 2022:

New Members

• Mr. William Edge, Chair, Australian Auditing and Assurance Standards Board
• Dr. Warren Maroun, Professor, School of Accountancy, University of the Witwatersrand, South Africa

Re-appointed Members

• Mr. Kai Morten Hagen, Technical Director at Den norske Revisorforening (Norwegian Institute of Public Accountants)
• Ms. Sachiko Kai, Technical Director, Japanese Institute of Certified Public Accountants
• Mr. Eric Turner, Former Director, Canadian Auditing and Assurance Standards Board

"It is a pleasure to welcome the new IAASB members and congratulate re-appointed members,” said Tom Seidenstein, IAASB Chair. “One of the IAASB’s hallmarks is our diversity in thought and experiences that strengthen our deliberations. I look forward to these new voices adding to that diversity and expanding our conversations.”

The IAASB also announces the re-appointment of Mr. Len Jui as its deputy chair for 2022.

“I am also extremely pleased that Len will continue serving as IAASB deputy chair," said Mr. Seidenstein. “Len’s dedication to the IAASB is tireless and we are collectively stronger because of his efforts.”

About the IAASB
The International Auditing and Assurance Standards Board develops auditing and assurance standards and guidance for use by all professional accountants under a shared standard-setting process involving the Public Interest Oversight Board, which oversees the activities of the IAASB, and the IAASB Consultative Advisory Group, which provides public interest input into the development of the standards and guidance. The structures and processes that support the operations of the IAASB are facilitated by the International Federation of Accountants (IFAC). For copyright, trademark, and permissions information, please go to permissions or contact permissions@ifac.org.

МФБ призывает «Группу двадцати» сосредоточить внимание на двух ключевых действиях - в которых глобальная бухгалтерская профессия является твердым партнером, - которые продвинут иглу в направлении устойчивости, инклюзивности и процветания.

L'IFAC appelle le G20 à se concentrer sur deux actions clés, où la profession comptable mondiale est un partenaire fortement engagé, qui feront avancer les choses en matière de durabilité, d'inclusivité et de prospérité.

As the global voice of the accountancy profession, IFAC releases Points of View (POVs) on key policy issues impacting the accounting profession and the whole of society. These POVs are well-researched tools available for anyone to use in gaining an understanding of crucial topics affecting our world and potentially influencing policies that affect us all.

To make its POVs more accessible to its global constituency and their stakeholders, IFAC has published all seven of its POVs, originally only available in English, into four additional languages: Arabic, French, Russian, and Spanish.

"From improving public sector transparency with data-driven decisions to providing investors with high-quality and trustworthy sustainability information, these POVs cover a broad range of topics of critical importance to professional accountants worldwide,” said Kevin Dancey, IFAC CEO. “These translations will improve the ability of professional accountants to make an impact in their companies and jurisdictions.”

The topics covered in the POVs are:

Enhancing Corporate Reporting: Corporate reporting should capture all relevant information about organizations. However, investors and other stakeholders are demanding more, higher-quality information and insights about company performance, risks, opportunities, and long-term prospects, especially with respect to sustainability-related matters, than are available from the conventional financial reporting process.

Greater Transparency and Accountability in the Public Sector: This POV explores how governments can use the resources they have to have to make informed, data-driven decisions with strong governance and public financial management (PFM) and how the accountancy profession can work with the public sector to help deliver a more sustainable, inclusive, and prosperous future for all. 

Embracing a People-Centered Profession: The accountancy profession is first and foremost a profession made of people—individuals and teams working collaboratively and collectively. This POV explores the connection between the people in the accountancy profession, the core components of the profession (education, professional judgment, ethics, values) and the profession’s commitment to the public interest.

Maintaining Trust & Confidence During a Crisis: Maintaining trust and confidence during a crisis is the fastest path to recovery after a crisis. This POV explores the key roles that regulators, the global accounting profession and those charged with governance have to play in maintaining trust.

Achieving High-Quality Audits: High-quality audits of financial statements are essential to strong, sustainable organizations, financial markets and economies. All participants in the audit and assurance ecosystem must act to improve the audit process, and we outline how.

Climate Action: Climate change is an urgent, global, and systemic issue that can threaten the sustainability of organizations, markets, and economies. This POV outlines how to embrace climate action and be part of the solution.

Fighting Corruption and Money Laundering: The consequences of corruption are significant and widespread, from direct costs to individuals and society, to encouraging criminal behavior and undermining trust in institutions. Grounded in a strong ethical code, professional accountants across the globe play a critical role in the fight against corruption.

Access the POVs here in each language.

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 180 members and associates in 135 countries and jurisdictions, representing more than 3 million accountants in public practice, education, government service, industry, and commerce.

يدعو الاتحاد الدولي للمحاسبين مجموعة العشرين إلى التركيز على إجراءين رئيسيين - حيث تكون مهنة المحاسبة العالمية شريكًا ملتزمًا بشدة - من شأنها تحريك الإبرة نحو الاستدامة والشمولية والازدهار.

تظل الأولويات الأربع الواردة في دعوة الاتحاد الدولي للمحاسبين لعام 2020 محورية لبناء مستقبل أفضل. سيتطلب تحقيق ذلك جهودًا متضافرة من صانعي السياسات والشركات والمنظمات الأخرى والمستثمرين والأفراد.

IFAC pide al G20 que se concentre en dos acciones clave, donde la profesión contable global es un socio fuertemente comprometido, que moverán la aguja hacia la sostenibilidad, la inclusión y la prosperidad.

The SMPAG supports the IAASB’s current standard-setting projects underway. They believe the Audits of Less Complex Entities project should be a priority for the Board and welcome the significant progress that has been made and the forthcoming consultation on the draft standard. They also noted their preference on prioritization of 8 projects that the IAASB is considering.

Join the IAASB for the second LinkedIn Live session discussing the recently proposed new standard for audits of less complex entities on October 20 at 8 am ET. The session will feature IAASB Member Chun Wee Chiew, IAASB Consultative Advisory Group Member Claes Norberg, and IAASB Technical Director Willie Botha discussing on which entities the proposed standard can be used, who makes decisions regarding using the standard, and how those decisions are made. They will also discuss how the standard will be received by users of the financial statements. IAASB Technical Advisor and Member of the IAASB LCE Task Force Viviene Bauer will moderate the discussion.

The third and final livestream discussion in this series will air on November 17 at 8 am ET. It will feature IAASB Member Julie Corden, LCE Reference Group Member Andrew Braithwaite, and IAASB LCE Task Force Member Brendan Murtagh discussing what the proposed new standard means for audit firms and practitioners, including the benefits of the standard, what firms, engagement partners and teams need to consider in decision making, and the potential impact on small- and medium-sized practices. The first session in the series, which addressed the journey to the proposed new standard and its key principles, is available on LinkedIn and YouTube.

The IAASB strongly encourages all interested stakeholders to provide their feedback on the proposed new standalone standard for audits of less complex entities by January 31, 2022. The standard is relevant to users of financial statements, owners, management, and those charged with governance of entities, preparers of financial statements, legislative or regulatory authorities, relevant local bodies with standard-setting authority, professional accountancy organizations, academics, regulators and audit oversight bodies, and auditors and audit firms, among others.

The International Public Sector Accounting Standards Board (IPSASB) announced that in 2022 it will have a majority female Board for the first time. The IPSASB will be comprised of ten women and eight men beginning 1 January 2022.

The geographic diversity of the IPSASB will also increase with new members from China and Saudi Arabia.

The new appointees to the IPSASB have been selected following a rigorous nominations and interview process involving the IFAC Nominating Committee and IPSASB leadership, overseen by the Public Interest Committee. The IFAC Board approved the recommended candidates.

The four new Board members are:

• Mr. Abdullah Al-Mehthil, Saudi Arabia
• Ms. Claudia Beier, Switzerland
• Mr. Maik Esser-Müllenbach, Germany
• Ms. Liang Yang, China

The following two current Board members have been reappointed:

• Ms. Luzvi Chatto, Philippines
• Ms. Lynn Pamment, United Kingdom

“The IPSASB is leading the way with a majority female Board for 2022,” said IPSASB Chair Ian Carruthers. “Diversity of Board membership is essential to ensure the delivery of high-quality standards that can strengthen public financial management globally. The appointment of new members from the Asia and Middle East regions will also be important to ensuring that our outputs meet the needs of an increasingly diverse group of users.”

The IPSASB also announced that Ms Lindy Bodewig of South Africa will continue her role as the IPSASB Deputy Chair for 2022. “I am extremely pleased that Lindy has agreed to serve as my deputy for another year. Lindy brings to our work the powerful combination of experience through her day job in government and national and international public sector standard setting. She has played a particularly important role as the chair of the Task Force of our high-profile project on Natural Resources,” said Mr. Carruthers. “I also want to take this opportunity to thank outgoing members, Mike Blake, Adrienne Cheasty, Bernhard Schatz, and Marc Wermuth for their many important contributions to our work during their time with the Board. We are extremely grateful for their dedication and commitment”.

About the IPSASB
The International Public Sector Accounting Standards Board (IPSASB) works to strengthen public financial management globally through developing and maintaining accrual-based International Public Sector Accounting Standards® (IPSAS®) and other high-quality financial reporting guidance for use by governments and other public sector entities. It also raises awareness of IPSAS and the benefits of accrual adoption. The Board receives support from the Asian Development Bank, the Chartered Professional Accountants of Canada, the New Zealand External Reporting Board, and the governments of Canada and New Zealand. The structures and processes that support the operations of the IPSASB are facilitated by the International Federation of Accountants (IFAC). For copyright, trademark, and permissions information, please go to permissions or contact permissions@ifac.org.

About the Public Interest Committee
The governance and standard-setting activities of the IPSASB are overseen by the Public Interest Committee (PIC), to ensure that they follow due process and reflect the public interest. The PIC is comprised of individuals with expertise in public sector or financial reporting, and professional engagement in organizations that have an interest in promoting high-quality and internationally comparable financial information.