Los contadores profesionales en empresas son usualmente considerados como asesores de negocios confiables. Esta relación surge de su amplia y significativa experiencia, combinada con un conocimiento detallado de los negocios de sus clientes, lo cual en gran parte se obtiene de los encargos de aseguramiento realizados en los estados financieros de sus clientes. Los contadores profesionales se encuentran en una posición única para agregar valor ya que pueden potenciar la credibilidad de los estados financieros de sus clientes y proporcionarles asesoría de negocios personalizada.

El Consejo de Normas Internacionales de Auditoría y Aseguramiento (IAASB) ha emitido el documento Estándar Internacional de Encargos de Revisión (ISRE) 2400 (revisado), Encargos de revisión de estados financieros históricos,, el cual se encuentra vigente para los periodos que finalizaron en o después de diciembre 31, 2013. Los encargos de revisión proporcionan una forma limitada de aseguramiento sobre los estados financieros históricos y pueden ser una alternativa rentable y de valor agregado cuando no se requiere una auditoría.

Agregando valor rentable para los clientes

La revisión, la cual consiste principalmente en investigación y análisis, se basa en el entendimiento del contador profesional frente a la entidad y su entorno y el marco de información financiera aplicable, según el cual son preparados los estados financieros. Este entendimiento incluye factores relevantes industriales, regulatorios y demás factores externos; la estructura de las operaciones de la entidad, la propiedad y el gobierno; y sus sistemas y registros contables. El contador profesional utiliza este conocimiento para diseñar y realizar procedimientos de investigación y análisis en rubros materiales en los estados financieros y rubros donde es probable que surjan errores materiales. Durante el encargo, el profesional desarrolla un entendimiento significativo del cliente y su negocio, lo que le otorga una excelente oportunidad de ofrecer valor adicional al cliente a través de la provisión de una asesoría personalizada.

Los profesionales pueden proporcionar servicios de revisión de manera más eficiente al componer el grupo de auditoría de profesionales con habilidades y técnicas de aseguramiento, acudiendo a los mismos miembros y utilizando la tecnología para automatizar los mecanismos de la revisión, donde sea posible. Dado que gran parte de la revisión consiste en una comunicación efectiva con los clientes, es preferible realizar una proporción significativa del trabajo en las oficinas del cliente.

Agregando un nivel considerable de aseguramiento a los estados financieros

Según el ISRE 2400 (revisado), el contrato de revisión no es únicamente para que los profesionales obtengan un conocimiento de sus clientes a través de preguntas y análisis; el contrato requiere que el contador vaya más allá y obtenga evidencia adicional si se determina que puede existir un error material en los estados financieros.  Se requieren igualmente procedimientos adicionales cuando surgen más dudas, por ejemplo si las transacciones de partes relacionadas se categorizan fuera del curso normal del negocio, sospechas de fraude o no cumplimiento con las leyes o regulaciones, o dudas sobre la capacidad de la entidad de continuar como un negocio en marcha. Este esfuerzo adicional permite lograr el nivel significativo y valioso de aseguramiento indicado por la conclusión de revisión.

Bajo el ISRE 2400 (revisado), el profesional debe cumplir con los requerimientos éticos relevantes, incluyendo aquellos relacionados con la independencia en el Código de ética para contadores profesionales del Consejo de Normas Internacionales de Ética para Contadores (Código IESBA), o los requerimientos nacionales equivalentes que son por lo menos igual de restrictivos. El estándar de revisión requiere igualmente que los contadores profesionales ejerzan el juicio profesional y sean escépticos a lo largo del contrato.

Beneficios para todas las partes involucradas

En resumen, existen beneficios para todas las partes involucradas en un contrato de revisión del ISRE 2400 (revisado). Los profesionales obtendrán la base de conocimiento que les permitirá agregar valor a los negocios de sus clientes, expresando simultáneamente las conclusiones de aseguramiento necesarias en los estados financieros anuales. Los clientes y demás usuarios de los estados financieros contarán con un nivel significativo de aseguramiento proporcionado por un contador profesional objetivo e independiente.

Una guía de revisiones para contadores profesionales y organismos miembros de la IFAC

La guía más reciente del Comité SMP de la IFAC, la Guía de contratos de revisión, tiene como objetivo brindar una ayuda a las organizaciones miembro de la IFAC y sus miembros en firmas, en particular firmas pequeñas y medianas (SMP), frente a la implementación del ISRE 2400 (revisado). Para permitir a los contadores profesionales desarrollar un entendimiento más profundo del contrato de revisión llevado a cabo en cumplimiento con el estándar, la guía incluye ejemplos ilustrativos junto con extractos relevantes del estándar.  Incluye igualmente puntos prácticos para consideración de los profesionales, tips sobre cómo implementar eficientemente el estándar y listas de verificación y formatos que los contadores profesionales deben adaptar para cumplir con los requerimientos y circunstancias en su jurisdicción.

Recursos IFAC

Puede visitar el área SMP del sitio web de la IFAC, www.ifac.org/SMP, para acceder a esta guía y guías adicionales del Comité SMP, conocer más sobre las actividades del Comité y suscribirse al eNews SMP. Si bien la guía incluye extractos relevantes del ISRE 2400 (revisado), el estándar completo se encuentra disponible en el Manual 2013 del IAASB (ver igualmente la publicación At a Glance.

• Guía de los contratos de revisión

Artículos adicionales:

• Encargos de Revisión para PYMES: Aseguramiento limitado, Numerosos beneficios
• El estándar para contratos de revisión de aseguramiento limitado

¡Únete al debate y mantente informado! Puedes seguir al Comité SMP en Twitter (@IFAC­_SMP) y LinkedIn (IFAC SMP Community). Puedes encontrar recursos relevantes adicionales bajo la categoría Audit & Assurance (auditoría & aseguramiento), a partir de abril 2014, en la sección IFAC Global Knowledge Gateway.

Translated by the Instituto Nacional de Contadores Públicos (Colombia).

The SMP Committee submitted this comment letter on the International Ethics Standards Board for Accountants (IESBA)'s Consultation Paper: Proposed Strategy and Work Plan, 2014-2018.

Presentation given by Mario Abela, senior policy advisor at IFAC, at the Gulf Cooperation Council Accounting and Auditing Organization forum on the history and status of integrated reporting, and what comes next.

IFAC's Financial Statements are prepared in accordance with International Public Sector Accounting Standards (IPSASs) and include an independent auditor’s report. Notable in the 2013 Financial Statements is a substantial surplus. This surplus is mainly due to new member organization dues; a relentless focus on cost avoidance, recovery, and saving; unplanned staff vacancies, which had a positive effect on travel, meeting, and other project-related costs; and greater diversification in funding for the Public Interest Oversight Board (PIOB).

Mientras el Consejo de Normas Internacionales de Contabilidad (IASB) emprende un trabajo cuyo potencial es moldear el futuro de la información financiera alrededor del mundo, la Federación Internacional de Contadores (IFAC) y el Instituto de Contadores Certificados de Escocia (ICAS) han colaborado para potenciar el compromiso y el debate.

El documento de la IFAC y el ICAS, ¿Necesitamos una hoja de ruta para la información financiera?, busca alinear las consideraciones teóricas con las prácticas, y generar un debate y una discusión que sean de apoyo para el IASB en su revisión del Marco Conceptual actual. El IASB emitió un Documento de Debate que explora los posibles cambios al Marco Conceptual para la información financiera (de julio 2013) del IASB. El periodo de comentarios finalizó en enero 14, 2014, y se espera la publicación de un borrador de consulta más adelante en el año. Este documento de IFAC/ICAS ha sido preparado para complementar las cartas de comentario individual que ambas organizaciones enviaron al IASB.

En el documento, la IFAC y el ICAS plantearon preguntas y temas fundamentales que deben ser considerados por el IASB, a saber:

• ¿Para quién son los estados financieros?
• ¿Cuál es el propósito de los estados financieros?
• ¿Qué rol debería tener el Marco Conceptual?
• ¿Qué rubros deben ser incluidos en los activos y los pasivos?
• ¿Qué significa 'comportamiento financiero'?

"Estas preguntas muestran cómo las compañías comunican con los mercados financieros," comentó Fayez Choudhury, director ejecutivo de la IFAC. "Las bases fundamentales de los estados financieros han existido por décadas y es importante valorar seriamente si los estados financieros aún sirven este propósito."

Anton Colella, director ejecutivo del ICAS indicó: "el Marco Conceptual define la dirección a seguir en términos de información financiera a nivel global. El IASB ha aclarado que se enfocará en 'actualizar, perfeccionar y reducir las brechas de marco actual. Nuestra gran pregunta es: ¿es esto suficiente o necesitamos repensar todo nuevamente de manera más esencial?"

El documento no contiene respuestas a todas estas preguntas tan difíciles pero se enfoca en el estímulo al debate e invita a todos los afectados por la información financiera a participar y ayudar al IASB con esta labor.

Acerca del ICAS
ICAS es una organización profesional líder para Contadores Certificados, con más de 20,000 miembros a nivel mundial. El ICAS es un educador, un regulador y un líder en opinión.

Acerca de la IFAC
La IFAC es la organización global para la profesión contable, dedicada a servir el interés público a través del fortalecimiento de la profesión y contribuir en el desarrollo de economías internacionales sólidas. La IFAC se compone de 179 miembros y asociados en 130 países y territorios, representando aproximadamente a 2,5 millones de contadores en la práctica pública, la educación, el gobierno, la industria y el comercio.

Notas
El documento de IFAC/ICAS, ¿Necesitamos una hoja de ruta para la información financiera? Desarrollando el Marco Conceptual del IASB, se encuentra disponible en el sitio web del ICAS, en www.icas.org.uk/icas-ifac-roadmap y en el sitio web de la IFAC, en www.ifac.org/publications-resources/do-we-need-roadmap-financial-reporting.

Mayor información sobre el proyecto del Marco Conceptual del IASB y el Documento de Debate. Una revisión del Marco Conceptual para la información financiera se encuentra disponible en www.ifrs.org/Current-Projects/IASB-Projects/Conceptual-Framework/Pages/Conceptual-Framework-Summary.aspx.

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While presenting the The Economist 2014 CFO Summit, IFAC CEO Fayez Choudhury spoke with Lianna Brinded of the International Business Times on the evolving role of chief financial officers.

This response has been prepared following consultation across our broad constituent base; recognizing that some of IFAC’s stakeholders may have different views on the issues presented below. It is relevant to note that IFAC’s Small and Medium Practices Committee1 contributed significantly in preparing this response, given their specific expertise in dealing with Small and Medium-sized Entities (SMEs).

The International Federation of Accountants (IFAC), the global organization for the accountancy profession, today announced the launch of the Global Knowledge Gateway, a platform designed to bring together news, views, resources, and thought leadership for the worldwide accountancy profession. The Gateway showcases key accountancy materials and provides a forum to explore thought-provoking issues, participate in discussions, and be part of the global community of accountants that IFAC represents.

“We recognized that there was no single hub that collates and shares industry insights, ideas, and information while connecting the worldwide community of accountants,” said Fayez Choudhury, CEO of IFAC. “We wanted to leverage our position as the global accountancy organization and create a venue that provides access to helpful resources, keeps users informed on accountancy issues and news, and encourages discussion and debate.”

With content ranging from developing areas of the profession to longstanding but continually evolving areas of accountancy, the Gateway initially focuses on the following topics: Ethics, Business Reporting, Finance Leadership & Development, Performance & Financial Management, Governance, Risk Management & Internal Control, and Sustainability. The breadth of topics is meant to serve the diverse sectors of accountancy, including IFAC member organizations, accountancy professionals, the regulatory community, and firms, as well as accounting students.

The Gateway includes six key components:

• Viewpoints—Leaders of the accountancy and business communities share their perspectives on the profession and other relevant hot topics.
• Accountancy News—Headlines from a variety of media outlets and online press rooms.
• Resources—Each topic features filterable resources from IFAC, member bodies, and other relevant organizations, with descriptions and links to original sources.
• Discussions—Topical questions and views inspire and encourage debate and conversation among the global accounting community.
• Topical News—Headlines within topic areas.
• Upcoming Events—Highlights of key events and conferences worldwide.

The inaugural Viewpoint, authored by Mr. Choudhury, highlights the importance of a shared, global resource for accountants. Reviewing the history and genesis of IFAC’s online offerings, it also invites users to provide feedback on the interface, content, and functionality.

Register on IFAC’s website in order to gain full access to the Gateway’s offerings. By registering, users can participate in discussions; suggest resources, news, discussion topics, and events; and stay up-to-date on a range of selected topics.

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. It is comprised of 179 members and associates in 130 countries and jurisdictions, representing approximately 2.5 million accountants in public practice, education, government service, industry, and commerce.

Note to Editors: This article is available for IFAC member organizations to publish in their journals and/or websites. Email permissions@ifac.org for access and copyright information.

Professional accountants in practice are frequently looked upon as trusted business advisors. This relationship stems from their significant breadth of business experience combined with detailed knowledge of their clients’ businesses, much of which is obtained in the process of performing assurance engagements on their clients’ financial statements. Professional accountants are therefore in a unique position to add value, both in terms of enhancing the credibility of their clients’ financial statements and being able to provide them with tailored business advice.

The International Auditing and Assurance Standards Board (IAASB) has issued International Standard on Review Engagements (ISRE) 2400 (Revised), Engagements to Review Historical Financial Statements, which is now effective for periods ended on or after December 31, 2013. Review engagements provide a limited form of assurance on historical financial statements and may be a cost effective and value-adding alternative when an audit is not required.

Adding Cost-Effective Value to Clients

A review, consisting primarily of inquiry and analysis, is based on the professional accountant’s understanding of the entity and its environment and the applicable financial reporting framework according to which the financial statements are prepared. This understanding includes relevant industry, regulatory, and other external factors; the entity’s operations, ownership, and governance structure; how it is financed; and its accounting systems and records. The professional accountant uses this knowledge to design and perform inquiry and analytical procedures on both material items in the financial statements and on those items where material misstatements are likely to arise. In the course of the engagement, the practitioner develops a significant understanding of the client and its business, which gives him/her an excellent opportunity to offer additional value to the client through the provision of bespoke advice.

Practitioners can provide review services most efficiently by staffing a review engagement with professionals competent in assurance skills and techniques, consistently using the same staff members, and making use of technology to automate the mechanics of the engagement wherever possible. As so much of a review consists of effective communication with clients, performing a significant proportion of the work at the client’s place of business is preferable.

Adding a Meaningful Level of Assurance to Financial Statements

In accordance with ISRE 2400 (Revised), a review engagement is not just about practitioners obtaining knowledge of their clients through questions and analysis; it also requires the accountant to dig deeper and obtain additional evidence if it is determined there may be a material misstatement in the financial statements. Additional procedures are also required when further questions arise, such as if related party transactions fall outside the normal course of business, fraud or non-compliance with laws or regulations is suspected, or doubts arise regarding the entity’s ability to continue as a going concern. This additional work effort allows for the meaningful and valuable level of assurance conveyed by the review conclusion.

Under ISRE 2400 (Revised), the practitioner is required to comply with relevant ethical requirements, including those pertaining to independence in the International Ethics Standards Board for Accountants’ Code of Ethics for Professional Accountants (IESBA Code), or national equivalent requirements that are at least as restrictive. The review standard also requires professional accountants to exercise professional judgment and to be skeptical throughout the engagement.

Benefits for All Parties Involved

In summary, there are benefits for all parties involved in an ISRE 2400 (Revised) review engagement. Practitioners will obtain the knowledge base to enable them to add value to their clients’ businesses while expressing the assurance conclusions needed on annual financial statements. Clients and other financial statements users will have the comfort of a meaningful level of assurance provided by an objective and independent professional accountant.

A Guide to Reviews for Practitioners and IFAC Member Bodies

The newest guide from the IFAC SMP Committee, the Guide to Review Engagements, is intended to help IFAC member organizations and their members in practice, especially small- and medium-sized practices (SMPs), with the implementation of ISRE 2400 (Revised). To help practitioners develop a deeper understanding of a review engagement conducted in compliance with the standard, the guide includes illustrative examples alongside relevant extracts from the standard. It also includes practical points for practitioners’ consideration, tips on how to efficiently implement the standard, and checklists and forms that practitioners can adapt to meet the requirements and circumstances in their particular jurisdiction.

IFAC Resources

Visit the SMP area of the IFAC website to access this and other guides. While the guide includes relevant extracts from ISRE 2400 (Revised), the complete standard is available in the 2013 IAASB Handbook (see also the At a Glance).

• Guide to Review Engagements

Additional articles:

• Review Engagements for SMEs: Limited Assurance, Numerous Benefits
• The Standard for Limited Assurance Review Engagements

Join the discussion and stay informed! Follow the SMP Committee on Twitter (@IFAC­_SMP) and LinkedIn (IFAC SMP Community). Look for additional relevant resources under Audit & Assurance, coming in April 2014 to the IFAC Global Knowledge Gateway.

The Professional Accountants in Business (PAIB) Committee of the International Federation of Accountants (IFAC) today issued proposed International Good Practice Guidance, Developing and Reporting Supplementary Financial Measures, for public comment. This guidance seeks to establish a benchmark for the use of supplementary financial measures, in order to improve understanding of an organization’s performance among management, investors, and other stakeholders.

The proposed guidance provides principles regarding the qualities measures should have and disclosures that should accompany them if reported externally. Building on the qualitative characteristics of useful financial information, the guidance recommends professional accountants consider a number of attributes when developing and reporting supplementary financial measures. The guidance also provides a number of tips for disclosure of supplementary financial measures.

The guidance is meant for all organizations that want to use supplementary financial measures, regardless of size or structure, private or public. Many such measures are widely used in both internal and external reporting, for example, Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA); Underlying Profit; and Free Cash Flow.

“High-quality information is crucial for well-informed decision making about an organization, both internally and externally,” said Charles Tilley, chair of the PAIB Committee. “Well-developed supplementary financial measures increase users’ understanding of an organization and its performance.”

Supporting the profession and accountants in business is a key objective of the PAIB Committee. This type of principles-based guidance is an important aspect of achieving that objective.

“This guidance will help professional accountants in business and their organizations improve communications with their stakeholders,” said Karyn Brooks, chair of the PAIB Committee’s Business Reporting Task Force. “It will enable organizations to provide their stakeholders with improved financial and non-financial measures.”

Professional accountants, their organizations, and other interested parties are encouraged to respond to the proposed guidance to help improve its applicability in organizations of all sizes.

How to Comment
The PAIB Committee invites all stakeholders to comment. To access the Exposure Draft and submit a comment, visit the IFAC website. Comments on the Exposure Draft are requested by May 26,2014.

About International Good Practice Guidance
International Good Practice Guidance issued by the PAIB Committee cover areas of international and strategic importance in which professional accountants in business are likely to engage. In issuing principles-based guidance, IFAC seeks to foster a common and consistent approach to those aspects of the work of professional accountants in business not covered by international standards. IFAC seeks to clearly identify principles that are generally accepted internationally and applicable to organizations of all sizes in commerce, industry, education, and the public and not-for-profit sectors. Previously issued guidance is available on the IFAC website, including Preface to IFAC’s International Good Practice Guidance.

About the PAIB Committee
The PAIB Committee serves IFAC member bodies and professional accountants worldwide who work in commerce, industry, financial services, education, and the public and the not-for-profit sectors. Its aim is to promote and contribute to the value of professional accountants in business by increasing awareness of the important roles professional accountants play, supporting member bodies in enhancing the competence of their members, and facilitating the communication and sharing of good practices and ideas.

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 179 members and associates in 130 countries and jurisdictions, representing approximately 2.5 million accountants in public practice, education, government service, industry, and commerce.