The International Auditing and Assurance Standards Board (IAASB) and the International Ethics Standards Board for Accountants (IESBA) today welcomed the Monitoring Group’s recently released Paper: Strengthening the International Audit and Ethics Standard-Setting System, aimed at enhancing governance arrangements of the two standard-setting boards. 

The enhancements reflected in the Monitoring Group’s Paper will support the core mission of the two Boards to promulgate high quality international audit, assurance, related services and ethics standards for the accountancy profession, for worldwide application and developed in the public interest.

“The Monitoring Group’s conclusions highlight the importance of high-quality international standards, set by independent and technically expert bodies with effective oversight,” said IAASB Chairman Tom Seidenstein. “We support change that can advance our ability to deliver enhanced standards in the public interest.”  

“The task now at hand is to draw the most benefit from these changes,” said IESBA Chairman Dr. Stavros Thomadakis. “We are committed to collaborating with the Monitoring Group and others to achieve a smooth transition and effective implementation of the new arrangements.”

The Monitoring Group’s Paper encompasses items to be developed during a transition planning phase, and provides for a subsequent implementation period of approximately three years. This will allow for an orderly advancement of the Monitoring Group’s conclusions while avoiding disruption to delivery of IAASB’s and IESBA’s current Strategies and Work Plans.

For more about the International Auditing and Assurance Standard Board, visit the Board’s website at www.iaasb.org.

For more about the International Ethics Standards Board for Accountants, visit the Board’s website at www.ethicsboard.org.

The IPSASB has published Exposure Draft 73, Covid-19: Deferral of Effective Dates, which proposes to delay the effective dates of recently published Standards and Amendments to IPSAS by one year to January 1, 2023. Responding to the global COVID-19 pandemic and the challenges it has created, the purpose of this Exposure Draft is to provide stakeholders with additional implementation time.

The Standards and Amendments which are impacted include: 

• IPSAS 41, Financial Instruments;
• IPSAS 42, Social Benefits;
• Long-term Interests in Associates and Joint Ventures (Amendments to IPSAS 36) and Prepayment Features with Negative Compensation (Amendments to IPSAS 41);
• Collective and Individual Services (Amendments to IPSAS 19); and
• Improvement to IPSAS, 2019. 

The IPSASB welcomes comments on the Exposure Draft by August 15, 2020.

После выпуска Группой мониторинга сегодня Strengthening The International Audit And Ethics Standard-Setting System (Документа) Международная федерация бухгалтеров (МФБ/IFAC) объявила о своей поддержке немедленного начала реализации фазы планирования перехода.

Документ, в котором излагается ряд рекомендаций по совершенствованию процесса разработки и выпуска глобальных стандартов аудита, обеспечения достоверности и этики для профессии бухгалтера  и аудитора в общественных интересах, явился результатом длительного процесса консультаций с участием многих заинтересованных сторон.

МФБ удовлетворён тем, что в Документе признается важная и необходимая роль, которую МФБ и Профессия будут продолжать играть в процессе установления стандартов, и что рекомендации соответствуют стратегии МФБ. Однако существует ряд важных вопросов, которые ещё предстоит решить, прежде чем приступить к осуществлению. Несмотря на то, что МФБ не недооценивает проблемы, с которыми это связано, мы по-прежнему уверены, что сможем работать совместно со всеми заинтересованными сторонами, чтобы достичь удовлетворительного решения на этапе планирования перехода.

Д-р Ин-Ки Джу, Президент МФБ, сказал: «Мы упорно трудились, чтобы построить доверие и сотрудничать со всеми заинтересованными сторонами, участвующими в этом процессе. Рекомендации дают нам основу для продвижения вперёд. Мы рассчитываем на сотрудничество с Группой мониторинга и всеми другими заинтересованными сторонами, участвующими в этапе планирования перехода, для согласования плана реализации».

Кевин Дэнси, Генеральный директор МФБ, отметил: «Глобальные стандарты аудита, подтверждения достоверности и этики являются основой, на которой строится наша профессия, и важной гарантией защиты общественных интересов, являющихся частью нашего профессионального мандата. Мы были рады сотрудничать с Группой мониторинга, Советом по надзору за общественными интересами и другими ключевыми заинтересованными сторонами в течение периода консультаций, чтобы продолжать укреплять устойчивый, независимый и прозрачный процесс установления стандартов, который пользуется доверием и уверенностью всех заинтересованных сторон».

IAASB (Комитет по международным стандартам аудита и подтверждения достоверности информации) и IESBA (СМСЭБ - Комитет по международным стандартам этики профессиональных бухгалтеров) отвечают за разработку в общественных интересах и посредством независимой надлежащей правовой процедуры стандартов, которые определяют, как аудиторы и бухгалтеры предоставляют свои услуги. Ключевыми стратегическими приоритетами IFAC являются поддержка IAASB и IESBA, а также поддержка, продвижение и мониторинг принятия и внедрения их стандартов.

Luego de la emisión del Strengthening The International Audit And Ethics Standard-Setting System (Документа) Международная (el Documento) por parte del Grupo de Monitoreo hoy, la Federación Internacional de Contadores (IFAC) ha anunciado su apoyo para pasar inmediatamente a la fase de planificación de la transición.

El Documento, que establece una serie de recomendaciones para mejorar los procesos mediante los cuales, en interés público, se desarrollan y emiten las normas globales de auditorías, aseguramiento y ética para la profesión contable, fue el resultado de un proceso de consulta extenso que involucró a múltiples partes interesadas.

A la IFAC le complace que el Documento reconozca el papel importante y necesario que la IFAC y la profesión seguirán teniendo en el proceso de emisión de normas, y que las recomendaciones estén alineadas con la estrategia de la IFAC. Sin embargo, hay una serie de cuestiones importantes que deben abordarse antes de avanzar con la implementación. Si bien la IFAC no subestima los desafíos que esto presenta, seguimos confiando en que podremos trabajar en colaboración con todas las partes interesadas claves involucradas para alcanzar una resolución satisfactoria durante la fase de planificación de la transición.

El Dr. In-Ki Joo, presidente de la IFAC, declaró: “Hemos trabajado mucho para desarrollar confianza y colaborar con todas las partes interesadas involucradas en este proceso. Las recomendaciones nos brindan una base para avanzar. Esperamos trabajar con el Grupo de Monitoreo y todas las otras partes interesadas involucradas en la fase de planificación de la transición para acordar un plan de implementación”.

Kevin Dancey, CEO de la IFAC, dijo que “Las normas globales de auditoría, aseguramiento y ética son los cimientos sobre los que se construye nuestra profesión, y una salvaguarda importante para proteger el interés público, lo que es parte de nuestro mandato.  Nos alegró trabajar con el Grupo de Monitoreo, el Consejo de Supervisión del Interés Público y otras partes interesadas claves durante el período de consulta para seguir mejorando un proceso de emisión de normas sostenible, independiente y transparente que tenga la confianza de todas las partes interesadas”.

El Consejo de Normas Internacionales de Auditoría y Aseguramiento (IAASB) y el Consejo de Normas Internacionales de Ética para Contadores (IESBA) son responsables de desarrollar, en el interés público y mediante un procedimiento independiente, las normas que rigen la forma en que los auditores y los profesionales de la contabilidad brindan sus servicios. Las prioridades estratégicas clave de la IFAC incluyen apoyar al IAASB y el IESBA, y defender, promocionar y realizar un seguimiento de la adopción y la implementación de sus normas.

Suite à la publication par le Monitoring Group aujourd’hui de Strengthening The International Audit And Ethics Standard-Setting System (le Document), l’International Federation of Accountants (Fédération Internationale des experts comptables - IFAC) s’est déclarée favorable au démarrage immédiat de la phase de planification de la transition.

Le Document, qui recense une série de recommandations destinées à améliorer le processus d’élaboration et de publication, dans l’l’intérêt général, de normes internationales d’audit, d’assurance et de déontologie pour la profession comptable, est l’aboutissement d’un long processus de consultation auprès de nombreuses parties prenantes.

L’IFAC se réjouit de constater que le document prend acte du rôle important et nécessaire que l’IFAC et la profession continueront de jouer dans le processus d’établissement des normes et que les recommandations sont en ligne avec la stratégie de l’IFAC. Il reste, cependant, un certain nombre de questions importantes à régler avant de passer à la mise en œuvre. Bien que l’IFAC reconnaisse pleinement le challenge que cela représente, nous restons persuadés de notre capacité de travailler en collaboration avec toutes les parties prenantes en vue d’aboutir à une solution satisfaisante pendant la phase de planification de la transition.

Le Dr. In-Ki Joo, Président de l’IFAC, a déclaré : « Nous avons ardument travaillé pour établir la confiance et collaborer avec toutes les parties prenantes impliquées dans ce processus. Les recommandations constituent une base sur laquelle avancer. Nous sommes impatients de travailler avec le Monitoring Group et tous les autres acteurs impliqués dans la phase de planification de la transition afin de convenir d’un plan de mise en œuvre. »

Kevin Dancey, CEO de l’IFAC, a déclaré : « Les normes mondiales d’audit, d’assurance et de déontologie sont le socle sur lequel repose notre profession et une importante sauvegarde pour la protection de l’l’intérêt général, qui fait partie de notre mission professionnelle.  Nous avons eu le plaisir de travailler avec le Monitoring Group, le Conseil de surveillance de l’l’intérêt général et d’autres parties prenantes essentielles pendant la période de consultation pour poursuivre les efforts en vue d’améliorer un processus d'établissement des normes durable, indépendant et transparent, qui soit digne de la confiance de toutes les parties prenantes. »

L’IAASB (Conseil international des normes d'audit et d'assurance) et l’IESBA (Conseil des normes internationales de déontologie comptable) sont chargés d’élaborer, dans l’l’intérêt général et selon une procédure indépendante, les normes qui régissent la fourniture des services des professionnels comptables.  Les principales priorités stratégiques de l’IFAC consistent notamment à soutenir l’IAASB et l’IESBA ainsi qu’à défendre, promouvoir et surveiller l’adoption et l’application de leurs normes.

يوليو 14 ، 2020، نيويورك والورقة - بعد إصدار فريق الرصد اليوم تعزيز نظام المعايير الدولية لمراجعة الحسابات والأخلاقيات (الورقة)، أعلن الاتحاد الدولي للمحاسبين IFAC عن دعمه للانتقال على الفور إلى مرحلة التخطيط الانتقالي.

والورقة، التي تحدد سلسلة من التوصيات لتعزيز العملية التي يتم من خلالها وضع المعايير العالمية للتدقيق والضمان والأخلاقيات العالمية لمهنة المحاسبة وإصدارها للصالح العام، كانت نتيجة لعملية تشاور طويلة مع عدد من أصحاب المصلحة.

 يسر IFAC أن الورقة تعترف بالدور الهام والضروري الذي سيواصل IFAC والمهنة القيام به في عملية وضع المعايير وأن التوصيات تتماشى مع استراتيجية IFAC. ومع ذلك، هناك عدد من القضايا الهامة التي يتعين معالجتها قبل المضي قدما في التنفيذ. ففي حين أن IFAC لا يستهين بالتحديات التي يمثلها ذلك، إلا أننا ما زلنا واثقين من أننا سنكون قادرين على العمل بشكل تعاوني مع جميع أصحاب المصلحة الرئيسيين المعنيين للوصول إلى حل مرض خلال مرحلة التخطيط الانتقالي.

وقال الدكتور إن كي جو، رئيس IFAC، "لقد عملنا بجد لبناء الثقة والتعاون مع جميع أصحاب المصلحة المشاركين في هذه العملية. تزودنا التوصيات بأساس للمضي قدمًا. نتطلع إلى العمل مع فريق الرصد وجميع أصحاب المصلحة الآخرين المشاركين في مرحلة التخطيط الانتقالي للاتفاق على خطة التنفيذ ".

وقال كيفين دانسي، الرئيس التنفيذي لـIFAC، "إن المعايير العالمية للتدقيق والضمان والأخلاقيات هي الأساس الذي تقوم عليه مهنتنا وهي ضمانة مهمة في حماية المصلحة العامة التي تشكل جزءًا من مهمتنا المهنية. لقد سررنا بالعمل مع فريق الرصد ومجلس مراقبة المصلحة العامة وغيرهما من أصحاب المصلحة الرئيسيين خلال فترة التشاور لمواصلة تعزيز عملية مستدامة ومستقلة وشفافة لوضع المعايير تحظى بثقة جميع أصحاب المصلحة."

إن IAASB (المجلس الدولي لمعايير مراجعة الحسابات والضمان) و IESBA (مجلس المعايير الدولية لقواعد أخلاقيات المحاسبين) مسؤولان عن تطوير المصلحة العامة من خلال الإجراءات القانونية الواجبة المستقلة التي تحكم كيفية تقديم المدققين والمحاسبين المحترفين خدماتهم. تشمل أولويات IFAC الإستراتيجية الرئيسية دعم IAASB و IESBA والدعوة إلى اعتماد ورصد وتطبيق معاييرهما وتعزيزها ومراقبتها.

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Following the issuance by the Monitoring Group July 14 of Strengthening The International Audit And Ethics Standard-Setting System (the Paper), the International Federation of Accountants (IFAC) has announced its support for moving immediately to the transition planning phase.

The Paper, which sets forth a series of recommendations to enhance the process by which global audit, assurance and ethics standards for the accountancy profession are developed and issued in the public interest, was the result of a lengthy, multi-stakeholder consultation process.

IFAC is pleased that the Paper recognizes the important and necessary role that IFAC and the profession will continue to play in the standard setting process and that the recommendations are aligned with IFAC’s strategy. There are, however, a number of important issues still to be addressed before moving forward with implementation. While IFAC does not underestimate the challenges this presents, we remain confident that we will be able to work collaboratively with all key stakeholders involved to reach a satisfactory resolution during the transition planning phase.

Dr. In-Ki Joo, President of IFAC, said, “We have worked hard to build trust and collaborate with all of the stakeholders involved in this process. The recommendations provide us with a foundation to move forward. We look forward to working with the Monitoring Group and all other stakeholders involved in the transition planning phase to agree on an implementation plan.”

Kevin Dancey, CEO of IFAC, said, “Global audit, assurance and ethics standards are the bedrock on which our profession is built, and an important safeguard in protecting the public interest that is part of our professional mandate.  We were pleased to have worked with the Monitoring Group, the Public Interest Oversight Board and other key stakeholders over the course of the consultation period to continue to enhance a sustainable, independent and transparent standard-setting process that has the trust and confidence of all stakeholders.”

The IAASB (International Auditing and Assurance Standards Board) and the IESBA (International Ethics Standards Board for Accountants) are responsible for developing in the public interest and through independent due process the standards that govern how auditors and professional accountants deliver their services.  IFAC’s key strategic priorities include supporting IAASB and IESBA and advocating for, promoting and monitoring the adoption and implementation of their standards.

 
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 more than 3 million accountants in public practice, education, government service, industry, and commerce.

As organizations confront the immediate and longer-term implications of COVID-19, The Institute of Internal Auditors (IIA) and the International Federation of Accountants (IFAC) today issued a call to action for audit committees to ensure objective oversight of organizational activities, including risk management, performance, controls, and key processes.

The IIA and IFAC have developed specific recommendations for organizations to more vigorously confront uncertainties and turmoil that may threaten their integrity, transparency, and accountability.

“We must be aggressive and future-oriented in prioritizing and managing new threats and vulnerabilities, while not being distracted from existing risks,” said IIA President and CEO Richard F. Chambers. “Governing bodies and their audit committees, in particular, must be highly vigilant, nimble, and well engaged to ensure they as well as management and others are receiving objective assurance and insight on critical aspects of organizational activity.”

Adds IFAC CEO Kevin Dancey, “The impacts of COVID-19 on the global economy will be felt for years, if not decades. This creates long-term risks and uncertainties that organizations need to confront head-on through strong governance and internal controls. We hope these recommendations will support governing bodies and audit committees as they navigate the continuously evolving operating environment of today and tomorrow.”

The IIA and IFAC call on governing bodies and their audit committees to:

1. Stay informed: Maintain a timely and clear understanding of the continuously-evolving operating environment and how it may impact organizational objectives and performance.
2. Communicate and collaborate: Adopt a multi-disciplinary approach to exercising oversight of internal and external audit and reporting through dynamic communication and collaboration.
3. Leverage available expertise: Seek qualified and reliable assurance and advice on management evaluations of, and responses to, the organization’s continuously evolving risks and risk profile. 
4. Promote continuous improvement: Encourage innovation and change to address vulnerabilities and to build resilience, strengthening the pursuit of value creation.
5. Think holistically: Adopt a broad perspective of the organization and its environment across both financial and nonfinancial goals, considering interconnectivity with other organizations, internal and external interdependencies, and the central importance of people.
6. Embrace technology: Optimize the performance of the audit committee through the use of technology and flexible working practices.

The full statement is available on IFAC’s website.

About The IIA
The Institute of Internal Auditors (IIA) is the internal audit profession’s most widely recognized advocate, educator, and provider of standards, guidance, and certifications. Established in 1941, The IIA today serves more than 200,000 members from more than 190 countries and territories. The IIA’s global headquarters are in Lake Mary, Fla., with offices in Washington, D.C. For more information, visit www.theiia.org or www.globaliia.org.

About IFAC
The International Federation of Accountants (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 more than 3 million accountants in public practice, education, government service, industry, and commerce.

Maintaining trust and confidence in companies, markets, and economies during a crisis is the fastest path to recovery after a crisis. As the COVID-19 pandemic continues to present unexpected challenges globally, maintaining this trust must remain a priority. 

IFAC’s new Point-of-View, Maintaining Trust & Confidence During a Crisis, explores how different participants in the economy can work together to navigate challenges and instill trust during both the current pandemic and in future times of uncertainty.  

Professional accountants provide the strategic and operational expertise, integrity, reliability, and transparency needed for economies to function during challenging times. Organizations who provide high-quality information help maintain confidence in and facilitate economic recovery after any crisis. High-quality information serves to improve stakeholder understanding, sustain capital flows and instill credibility in reporting entities.

Through this lens, IFAC examines the role of three key stakeholder groups in maintaining trust:

1. Senior management and those with governance responsibility, who must ensure their organizations report high-quality information; 
2. Regulators, who serve to protect investors and stakeholders that rely on the information companies provide; and 
3. Professional accountants, who must draw upon their training, expertise, and ethical responsibility to carry out their public interest mandate and facilitate the delivery of high-quality information.  

As a knowledge convener, IFAC continues to share web-based resources from its members and other stakeholders in response to COVID-19. This new Point-of-View builds upon existing guidance to provide thinking that can be applied to both current challenges and future crises. 

The Consultative Advisory Group (CAG) of the International Public Sector Accounting Standards Board (IPSASB) has re-elected Thomas Müller-Marqués Berger as its Chair until June 2023.

In his role as Chair, Mr. Müller-Marqués Berger will continue to lead the IPSASB CAG, which he has done since its inception in June 2016. The CAG is composed of 25 representatives of public and private sector organizations and individuals that are interested in, or affected by, the IPSASB’s work, including those engaged in the preparation, audit, or evaluation of public sector financial reports. The CAG advises the IPSASB on technical projects and issues, as well as on its Strategy, adoption of standards, and other pressing issues.

Mr. Müller-Marqués Berger is a distinguished public sector accounting expert. Currently Global Head of International Public Sector Accounting for Ernst & Young, Mr. Müller-Marqués Berger’s deep experience in accounting standard-setting includes chairmanship of the Public Sector Group of Accountancy Europe since 2011, membership of the German Public Sector Committee since 2002, and service to global standard setting as an IPSASB member from 2009–2014.

“I am delighted that Mr. Müller-Marqués Berger will continue to serve as CAG Chair. He has played a key role in the CAG’s development into an influential advisor for the IPSASB. He will be a great asset to both the IPSASB and its CAG as we address the challenges created by the current environment, while continuing to make progress with our wide-ranging work program,” said IPSASB Chair Ian Carruthers. “I look forward to continuing to work closely with Thomas and the CAG.”

“I am very appreciative of the trust CAG members have placed in me, and I believe that the CAG’s journey has just begun,” said Mr. Müller-Marqués Berger. “I am honored to lead this exceptional group of public sector experts as it continues to serve as the IPSASB’s strategic advisor, helping to set priorities and to advance the public interest, especially during this uniquely challenging time. It gives me great pleasure to continue the ongoing partnership with Ian and the IPSASB.”  

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.