La Federación Internacional de Contadores^® (IFAC^®), la organización global para la profesión contable, anunció sus nuevos miembros y asociados de la Junta, elegidos durante su Reunión Anual del Comité.

Para la Junta de la IFAC, se eligieron cuatro miembros: Bill Balhoff (Estados Unidos), Alan Johnson (Reino Unido), Terence Nomembe (Sudáfrica) y el Dr. Zhiguo Yang (China). El Comité de la IFAC reeligió igualmente a las siguientes personas: Carol Bellringer (Canadá), Norunn Byrkjeland (Noruega), Pamela Monroe Ellis (Jamaica) y el profesor In-Ki Joo (República de Corea del Sur).

Olivia F. Kirtley, presidente de la IFAC, pronunció las siguientes palabras de bienvenida a los nuevos miembros de la Junta: "Mediante nuestra membresía global, IFAC representa aproximadamente a tres millones de contadores profesionales que trabajan en el interés público para fortalecer a las organizaciones y potenciar la economía global. Los nuevos miembros de la Junta, así como los reelegidos, representan la profundidad y envergadura de la capacidad de la profesión, al igual que su diversidad".

El Comité de la IFAC votó igualmente a favor de la admisión de nuevos asociados de África y Asia:

• Ordre des Experts Comptables et Comptables Agréés du Burkina Faso [Orden de Expertos en Contabilidad y Contadores Certificados de Burkina Faso] (ONECCA-BF)
• Vietnam Association of Certified Public Accountants [Asociación Vietnamita de Contadores Públicos Certificados] (VACPA)

Fayez Choudhury, el Director Ejecutivo de la IFAC, comentó lo siguiente: "Para nosotros es un placer acoger, tras un proceso integral de admisión, a estos asociados de la IFAC. Nuestro nuevo asociado de Burkina Faso es la primera organización contable profesional de este país que se vincula a la IFAC, mientras que la VACPA es la segunda organización de Vietnam en hacerlo. Les damos la bienvenida a la profesión contable y esperamos ansiosamente poder trabajar en conjunto para adelantar la misión de la IFAC en torno al apoyo del crecimiento y el desarrollo económicos globales".

Acerca de IFAC
IFAC es la organización global para la profesión contable, dedicada a servir el interés público a través del fortalecimiento de la profesión y la contribución para el desarrollo de economías internacionales sólidas.. La IFAC se compone de 175 miembros y asociados en 130 países y territorios, representando aproximadamente a 2,8 millones de contadores en la práctica pública, la educación, el gobierno, la industria y el comercio.

The International Auditing and Assurance Standards Board (IAASB) today released a publication highlighting the audit issues arising from the shift to Expected Credit Loss (ECL) models when accounting for loan losses. ECL models are now required, or will soon be required, by some financial reporting frameworks, including IFRS 9, Financial Instruments, which will come into effect from January 1, 2018.

“The adoption and implementation of ECL models will, in many cases, bring significant challenges for auditors, management, those charged with governance (e.g., audit committees), supervisors, and users,” explained IAASB Chairman Prof. Arnold Schilder. “Auditors need to be aware of the changes related to ECL and the implications for audits. Auditors will need to be actively engaged in 2016 and 2017, in particular to understanding how an entity is planning for the adoption and implementation of its ECL models.”

The publication summarizes the audit challenges identified with respect to ECL and sets out initial thinking on how these challenges may be addressed under the current International Standards on Auditing (ISA). The publication has been developed by a task force comprised of IAASB members and technical advisors, representatives from the Basel Committee on Banking Supervision, the International Association of Insurance Supervisors, bank auditors, and an observer from the US Public Company Accounting Oversight Board.

“Our work to date has benefited from input from different stakeholders from around the world,” highlighted Task Force Chair Rich Sharko. “The publication issued today is the result of extensive outreach with regulators, expert auditors from different industries, and others to capture the significant issues that arise in dealing with ECL models, as well as how they may be addressed under the current ISA pronouncements.”

“As a result, the publication is particularly relevant for auditors of financial institutions and other entities that have substantial credit risk exposures through holdings of loans and similar financial assets,” noted Task Force Co-Chair Marc Pickeur.

The publication also discusses how the IAASB’s new standard-setting project to revise ISA 540, Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures, will seek to further address these and other challenges that have been noted in respect of auditing accounting estimates, including in relation to audits of financial institutions.

“Accounting estimates are becoming more complex and subjective, and are critical to a user’s understanding of an entity’s performance,” noted IAASB Technical Director Kathleen Healy. “The IAASB will consider what revisions are necessary to ISA 540 to promote audit quality in the varied and complex scenarios that arise today, and that are likely to continue to evolve in the future.”

For more information, visit www.iaasb.org/auditing-estimates.

About the International Auditing and Assurance Standards Board (IAASB)
The IAASB 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).

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 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.

Accountants working in small- and medium-sized practices (SMPs) are generally optimistic about performance in 2016, as a majority predict revenues will stay the same or increase across all service lines, according to the latest IFAC Global SMP Survey results (full report and summary). However, optimism is not at the same level as a year ago as growth projections across service lines have dropped since 2014.

While performance expectations decreased from a year ago, SMPs indicate that their challenges are somewhat less acute than last year. As in 2014, the most pressing challenges for SMPs in 2015 were: attracting new clients (47% high or very high challenge), keeping up with new regulations and standards (44%), differentiating from the competition (43%), and pressure to lower fees (41%).

The 2015 IFAC Global SMP Survey received 6,725 respondents, representing 169 countries and more than 800,000 SME clients around the world, making it the largest survey of SMPs. The survey was conducted October–November 2015 in 22 languages.

It is well recognized that professional accountants are a preferred source of advice for SMEs, typically forming long-term relationships founded on trust. SMEs account for the vast majority of businesses globally and, in most jurisdictions, account for the majority of private sector GDP, employment, and growth.

“Collectively, this is a large and important sector whose views are important to hear,” said IFAC CEO Fayez Choudhury. “The health of the SME sector is a barometer of the vitality of a nation’s economy and of global trade and commerce at large. Listening to SMEs through their accountants—who know them well—is a critical exercise that allows IFAC and its member organizations to better support them, which in turn supports stability and growth more broadly.

Additional key findings from the survey include:

SMPs recognize the value of offering business advisory and consultancy services.

• A significant majority of respondents provide some form of advisory services, with tax planning (52%), corporate advisory (45%), and management accounting (41%) being the most common.

SMEs face a number of challenges, with economic uncertainty consistently topping the list.

• Consistent with 2014, the top challenges facing SME clients were economic uncertainty (61% high or very high challenge) and rising costs (58%).

Looking ahead, competition and regulatory developments will continue to be dominant factors in the SMP business environment.

• Consistent with 2014, the regulatory environment (52% high or very high impact) and competition (46%) topped the list of environmental factors most likely to impact SMPs over the next five years, followed by technology developments (43%).

“For the second consecutive year, SMPs have predicted that technology and regulatory developments will have the biggest impact on them in the future; they will need to be nimble and adapt in order to remain competitive,” said IFAC SMP Committee Chair Giancarlo Attolini. “While changes in technology are inevitable, we need to continue contributing to the development of international standards that are stable, relevant, and can be applied in a manner proportionate to the size of the entity or practice. And, as a profession, we need to help SMPs and SMEs adapt and prepare for changes by continuing to listen, develop guidance, and encourage knowledge sharing so they are well positioned to thrive in the future.”

The survey design and reporting were undertaken in collaboration with Sarah Webber and Donna L. Street, lead researchers from the University of Dayton (US). IFAC wishes to thank the many member and regional organizations that helped with translation and distribution of the survey. See the full results, including breakdowns by region and size of practice, and subscribe to receive SMP updates, on the IFAC website: www.ifac.org/SMP.

Some regions, countries, and larger SMPs were not well represented in the survey results; caution should be exercised when attempting to generalize survey results to specific countries, specific regions, or SMPs of all sizes.

About the SMP Committee
The SMP Committee of the International Federation of Accountants^® (IFAC^®) represents the interests of professional accountants operating in small- and medium-sized practices (SMPs). The committee develops guidance and tools and works to ensure the needs of the SMPs are considered by standard setters, regulators, and policy makers. The committee also speaks out on behalf of SMPs to raise awareness of their role and value, especially in supporting SMEs, and the importance of the small business sector overall.

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

The International Federation of Accountants^® (IFAC^®) today announced the availability of the current editions of the handbooks from the:

• International Auditing and Assurance Standards Board^® (IAASB^®);
• International Ethics Standards Board for Accountants^® (IESBA^®);
• International Public Sector Accounting Standards Board^® (IPSASB^®); and
• International Accounting Education Standards Board™ (IAESB™);

2015 Handbook of International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements

The latest edition of the handbook includes new and revised Auditor Reporting standards designed to enhance auditor’s reports for investors and other users of financial statements, as well as changes to other ISA™ pronouncements to address the auditor’s responsibilities in relation to going concern, financial statement disclosures, and other information (i.e., annual reports). Volume III continues to include the IAASB’s Framework for Audit Quality: Key Elements that Create an Environment for Audit Quality, a topic that is a key area of focus in the IAASB’s current work plan.

These substantive changes will be effective for audits of financial statements ending on or after December 15, 2016.

To access an electronic copy of the handbook for personal use, purchase print copies, or find information on recent developments and outstanding exposure drafts, visit the IAASB’s website at www.iaasb.org.

2015 Handbook of the Code of Ethics for Professional Accountants

The 2015 IESBA Handbook contains the entire Code of Ethics for Professional Accountants™. This edition also includes changes to certain non-assurance services pronouncements for both audit and assurance clients that will be effective in 2016. Early adoption is permitted; see “Changes” for details.

To access an electronic copy—available on mobile-optimized and fully searchable web-based platform or in PDF for personal use—purchase print copies, or find information on recent developments and outstanding exposure drafts, visit the IESBA’s website at www.ethicsboard.org. 

2015 Handbook of International Public Sector Accounting Pronouncements

The 2015 edition is available only in electronic format and contains the complete set of IPSAS™ pronouncements. It also includes the Conceptual Framework for General Purpose Financial Reporting by Public Sector Entities, which was published in October 2014.

The 2016 Handbook of International Public Sector Accounting Pronouncements, scheduled to be available in 2Q 2016, will be available in print and electronic versions.

To access an electronic copy of the handbook for personal use, or find information on recent developments and outstanding exposure drafts, visit the IPSASB’s website at www.ipsasb.org.

2015 Handbook of International Education Pronouncements

The 2015 Education Handbook contains the IAESB’s suite of the newly revised and redrafted IES™ 1-6, the re-drafted IES 7, Continuing Professional Development (2014), IES 8, Competence Requirements for Audit Professionals (2008), and the revised Framework for International Education Standards for Professional Accountants and Aspiring Professional Accountants.

One of the more significant changes to the handbook is the addition of a new section that includes the newly revised IES 8, Professional Competence for Engagement Partners Responsible for Audits of Financial Statements, that has been approved by the IAESB, but is not yet effective.

To access an electronic copy of the handbook for personal use, purchase print copies, or find information on recent developments and outstanding exposure drafts, visit the IAESB’s website at www.iaesb.org.

About the Handbooks
The standards and pronouncements in each of the handbooks were developed by the IAASB, IAESB, IESBA, and IPSASB, respectively. The structures and processes that support the operations of these independent standard-setting boards, including publishing the handbooks, are facilitated by IFAC.

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 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.

In cooperation with IFAC Member Colegio de Contadores Públicos de Costa Rica (CCPCR), IFAC is hosting a Statements of Membership Obligations (SMOs) workshop in San Jose, Costa Rica, on February 13. The workshop will bring together leaders and representatives from 17 professional accountancy organizations in Central and South America and the Caribbean to address regional issues affecting the profession.

The event will also provide insights on the status of fulfillment of the IFAC SMOs in the region and provide the opportunity for a greater explanation and discussion of the Dashboard Reports methodology now used by IFAC. In addition, the event will be a key opportunity to share experiences, both successes and challenges, and identify opportunities for regional collaboration.

The event also supports the IFAC Member Compliance Program’s strategic objective of collaboration and seeks to help IFAC and the Compliance Advisory Panel more fully understand the challenges some jurisdictions face in adopting or implementing some of the SMOs.

The International Ethics Standards Board for Accountants^® (IESBA^®, the Ethics Board) today released for public comment the Exposure Draft, Limited Re-exposure of Proposed Changes to the Code Addressing the Long Association of Personnel with an Audit Client (the ED). The ED relates to the IESBA’s project to develop more robust and comprehensive provisions dealing with the long association of personnel with an audit or assurance client. It contains a basis for conclusions regarding proposals that have been finalized, as well as the limited re-exposure of three remaining issues.

The proposals being re-exposed are:

• An increase from two to five years in the cooling-off period for the engagement quality control reviewer (EQCR) on the audit of a listed entity, and to three years on the audit of a public interest entity (PIE) other than a listed entity;
• An alternative approach to the cooling-off requirements for PIE audits in the Code of Ethics for Professional Accountants (the Code) where jurisdictions have established different but robust legislative or regulatory safeguards to address the threats to auditor independence created by long association; and
• A revised approach to determining how long an individual should cool off after having served either as an engagement partner (EP) or as an EQCR, or in a combination of roles, for only part of the seven-year period they have served as a Key Audit Partner.

“In developing the new EQCR cooling-off proposal, the board has been particularly sensitive to public interest concerns about the need for a ‘fresh look,’ given the EQCR’s important role on the audit and proximity to the audit issues,” said IESBA Chairman Dr. Stavros Thomadakis. “At the same time, the board has found it also in the public interest to give appropriate weight to the practical consequences of implementation, given that the availability of individuals suitably qualified to act in an EQCR role tends to be more limited. The board believes that the proposal is balanced and, importantly, that its benefits to enhancing public trust in auditor independence outweigh the costs in terms of some added complexity in implementation in an already complex area.”

Included in the ED are revised provisions addressing other long association proposals that the IESBA has now finalized, including:

• An increase in cooling-off period for EPs from two to five years on audits of all PIEs; and
• Additional restrictions on activities that can be performed during the cooling-off period.

“Feedback on the first exposure draft in August 2014 indicated broad support for the IESBA’s intention to enhance the long association provisions in the Code,” noted IESBA Technical Director Ken Siong. “However, the diversity of views among commentators across different stakeholder groups on certain issues, and new stakeholder perspectives on the challenges of overlaying some of the proposals on pre-existing jurisdictional requirements, led the board to carefully review its proposals, reaffirming or recalibrating them as needed.”

To assist stakeholders in better understanding the re-exposed proposals, the ED includes a set of proposed IESBA Staff Questions and Answers, which will be issued with the final provisions to facilitate implementation.

How to Comment
The Ethics Board invites all stakeholders to comment on the ED. To access the ED and submit a comment, please visit the Ethics Board’s website at www.ethicsboard.org.

Comments on the Long Association ED are requested by May 9, 2016.

About the IESBA
The International Ethics Standards Board for Accountants is an independent standard-setting board that develops and issues, in the public interest, high-quality ethical standards and other pronouncements for professional accountants worldwide. Through its activities, the IESBA develops the Code of Ethics for Professional Accountants, which establishes ethical requirements for professional accountants. The structures and processes that support the operations of the IESBA are facilitated by IFAC. Please visit www.ethicsboard.org for more information, and follow us on Twitter @Ethics_Board.

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.

A report on global regulation issued today by the International Federation of Accountants^® (IFAC^®) calls for political leaders and governments around the world to follow ten principles for consistent, high-quality global regulation, to aid global economic growth.

The ten principles were identified by 30 senior executives and experts from regulatory agencies, financial markets, government, academia, listed companies, investment funds, and the accounting profession at a roundtable in Hong Kong convened by IFAC in partnership with the Hong Kong Institute of Certified Public Accountants (HKICPA).  The principles are intended to help guide regulators toward better decisions and protect the global economy from the dangers posed by a patchwork approach to regulation.

While business and finance are increasingly global, roundtable participants warned that important regulation is not. Instead, it is frequently focused on national interests, which can create barriers and impediments to inclusive growth and jeopardize global financial stability.

“This clear signal from a broad, non-partisan group in one of the world’s most important trading centers highlights the urgent need for a more globally consistent approach to regulation,” said Fayez Choudhury, IFAC Chief Executive Officer. “We need a clear change in the will—and resources available—for international regulatory cooperation.

“The current fragmentation is creating a regulatory environment that encourages more risky trading and financing activities in often unregulated domains, and allows for the exploitation of gaps in regulation globally,” Choudhury said.

Several actions were discussed to foster a more integrated global regulatory framework that can create a better environment for economic growth:

Stronger systems and incentives for cross-border regulatory collaboration and cooperation.

• Beyond consultation within the regulatory community, lack of resources and different national financial ecosystems make true collaboration with a broader set of stakeholders a challenge.
• Greater incentives are required before regulators can look beyond national interest, and consider long-term, global implications of regulation.

Systematic review of regulations to determine whether implementation and impact match expectations.

• Current regulatory systems often focus on writing regulation rather than evaluating effectiveness. Not all existing regulations are implemented in practice.
• Rapid change in business and financial markets requires continued flexibility. Much regulation is outdated by the time it is implemented, often years after originally proposed.
• Independent oversight of regulation would allow collaborative discussion and better analysis of costs and benefits.

10 clear principles for high quality financial regulation rather than a reactive response.

• To serve the public interest, regulation needs to be evidence-based, proportionate, appropriately resourced, collaboratively developed/implemented, consistent, subject to active oversight, systematically reviewed, have clear objectives, and be properly targeted and enforced to address intended issues.
• They must be developed in consultation with the public, and affected constituencies.

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

The International Public Sector Accounting Standards Board^® (IPSASB^®) today released for comment Exposure Draft (ED) 61, Amendments to Financial Reporting under the Cash Basis of Accounting (the Cash Basis IPSAS™).

The Cash Basis IPSAS has two parts. Part 1 identifies requirements that a reporting entity needs to adopt to claim that its financial statements comply with the IPSAS. It presently includes requirements for preparation of consolidated financial statements and for disclosure of information about external assistance and payments made by third parties. ED 61 proposes that these requirements be revised, recast as encouragements, and moved into Part 2 of the IPSAS. Part 2 identifies encouraged disclosures that an entity may choose to provide, but which are not required to claim compliance with the IPSAS.

The ED also proposes amendments to ensure that the existing requirements and encouragements of the Cash Basis IPSAS are better aligned with the equivalent accrual IPSAS, unless there is a reason to deviate as a result of adopting the cash basis of accounting. This will better support entities’ expected use of the Cash Basis IPSAS as a platform from which to transition to accrual IPSAS.

“The amendments proposed in ED 61 aim to remove practical obstacles to implementation of the Cash Basis IPSAS,” said IPSASB Chair Ian Carruthers. “These proposals respond to views expressed by our constituents that wider adoption of the Cash Basis IPSAS will enhance financial reporting by governments in developing economies that adopt a cash basis of accounting. They should also strengthen the Cash Basis IPSAS in its role as an important transition path to adoption of accrual IPSAS. We look forward to receiving constituents’ views on these proposals.”

First issued in 2003, the Cash Basis IPSAS is the only IPSASB pronouncement that deals with the cash basis of accounting. Respondents to the IPSASB’s 2014 strategy consultation supported retaining the Cash Basis IPSAS.

“The primary role that the Cash Basis IPSAS plays in the IPSASB’s overall standard-setting strategy is as a stepping stone to adoption of accrual IPSAS,” explained Mr. Carruthers. “While robust reporting on the cash basis contributes significantly to broader improvements in public sector financial management in many jurisdictions, it provides only part of the information that the users of financial statements need for accountability and decision-making purposes. Such information is best provided by adoption of accrual IPSAS.”

How to Comment

The IPSASB seeks comment on those paragraphs or sections of the Cash Basis IPSAS that are proposed for amendment. To enhance understanding of the proposals, a marked-up version of the Cash Basis IPSAS reflecting the changes proposed in ED 61 is available on the IPSASB website.

To access the ED, the marked-up proposed IPSAS, and the At-a-Glance document, which provides a summary of the ED, or to submit a comment, please visit the IPSASB website at www.ipsasb.org. Comments on the ED are requested by July 31, 2016. The IPSASB encourages IFAC members, associates, and regional accountancy organizations to promote the availability of this ED to their members and employees.

About the IPSASB
The IPSASB develops accounting standards and guidance for use by public sector entities. It receives support (both direct financial and in-kind) from the World Bank, the Asian Development Bank, the Chartered Professional Accountants of Canada, the South African Accounting Standards Board, and the governments of Canada, New Zealand, and Switzerland.

Working at IPSASB
The IPSASB is currently seeking self-motivated individuals with strong project management skills and an interest in technical accounting issues. Candidates should possess good interpersonal skills, and a background in standard-setting or experience in technical accounting analysis. Visit Working at IFAC or email a resume (CV) and cover letter to jobs@ifac.org.

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 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.

The International Public Sector Accounting Standards Board^® (IPSASB^®) today released for comment Exposure Draft (ED) 60, Public Sector Combinations.

ED 60 classifies public sector combinations as either amalgamations or acquisitions taking into account control and other factors. A party to the combination must gain control over an operation for it to be treated as an acquisition rather than an amalgamation, but control is not sufficient in itself to determine that a combination is an acquisition.

Instead, gaining of control over an operation creates a rebuttable presumption that the combination is an acquisition. If the acquisition presumption is rebutted, then the transaction is treated as an amalgamation. This approach is different to that proposed in the IPSASB’s 2012 Consultation Paper (CP), Public Sector Combinations, and addresses concerns raised by stakeholders in their responses to that CP.

For recognition and measurement of amalgamations, ED 60 proposes use of the “modified pooling of interests” method of accounting. This method, also referred to as “merger accounting”, recognizes the amalgamation on the date it takes place. For acquisitions, ED 60 proposes use of the “acquisition” method of accounting, applying the same approach as in IFRS 3, Business Combinations. This is supplemented with guidance for public sector-specific situations.

“Public Sector Combinations has been a very challenging project for our board,” said IPSASB Chair Ian Carruthers. “The main concern that emerged from submissions to the 2012 IPSASB Consultation Paper was that respondents did not agree that acquisition accounting, as prescribed by IFRS 3, Business Combinations, is appropriate for all combinations in the public sector. Addressing this concern by identifying the factors that distinguish an amalgamation from an acquisition has proved difficult. However, I believe we have now achieved this. We look forward to receiving constituents’ views on our proposals.”

How to Comment

To access the ED and the At-a-Glance document, which provides a summary of the ED, or to submit a comment, please visit the IPSASB website at www.ipsasb.org. Comments on the ED are requested by June 30, 2016. The IPSASB encourages IFAC members, associates, and regional accountancy organizations to promote the availability of this ED to their members and employees.

IPSASB Chair Ian Carruthers and IPSASB Technical Manager Paul Mason will host a webinar on March 7, 2016, at 10 a.m. EST to discuss the Exposure Draft. This will provide participants with an opportunity to ask questions and get additional information.

About the IPSASB
The IPSASB develops accounting standards and guidance for use by public sector entities. It receives support (both direct financial and in-kind) from the World Bank, the Asian Development Bank, the Chartered Professional Accountants of Canada, the South African Accounting Standards Board, and the governments of Canada, New Zealand, and Switzerland.

Working at IPSASB
The IPSASB is currently seeking self-motivated individuals with strong project management skills and an interest in technical accounting issues. Candidates should possess good interpersonal skills and either a background in standard-setting or experience in technical accounting analysis. Visit Working at IFAC or email a resume (CV) and cover letter to jobs@ifac.org.

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 more than 175 members and associates in more than 130 countries and jurisdictions, representing approximately 2.8 million accountants in public practice, education, government service, industry, and commerce.

Para facilitar la contribución de los contadores profesionales en el pensamiento integrado —y ayudar a alinear la asignación de capital, el comportamiento corporativo, la estabilidad financiera y el desarrollo sostenible—, la Federación Internacional de Contadores^® (IFAC^®), la organización global para la profesión contable, publicó el documento Creación de valor con un pensamiento integrado: el rol de los contadores profesionales.

El documento de reflexión establece una visión en torno al pensamiento integrado y explora lo que pueden hacer los contadores profesionales en el sector público y privado en términos prácticos para facilitar su incorporación en la organización, sin importar si esta planea publicar informes integrados. Identifica cinco elementos clave, los cuales, de ser implementados, pueden dar origen a organizaciones más efectivas. En última instancia, el documento cimienta la base para cambiar la manera actual de presentar informes, financieramente orientada, hacia la presentación de informes integrados.

"La presentación de informes integrados continúa obteniendo un impulso global y contribuyendo en cambiar, con el tiempo, el pensamiento de las empresas frente a la creación de valor. Pero solo el pensamiento integrado terminará por cambiar el comportamiento corporativo y permitir el surgimiento de organizaciones más sólidas así como la generación de una mayor confianza en la empresa y el gobierno”, comentó Fayez Choudhury, Director Ejecutivo de la IFAC. "Los contadores profesionales —como asociados empresariales implicados en el liderazgo organizacional y en el apoyo en la toma de decisión— pueden recurrir al pensamiento integrado como un medio para captar a aquellos que se sitúan en departamentos distintos al financiero y al contable. Esto tiene como fin ayudar a las organizaciones sólidas que crean valor en el corto, mediano y largo plazo".

El documento refleja el concepto de pensamiento integrado como lo entendemos actualmente, dado que este es un periodo de experimentación para muchas organizaciones. Explora lo que implica el pensamiento integrado, así como sus desafíos y la manera de superarlos, y potencia una comprensión significativa de su rol y poder. En particular, la publicación aborda igualmente cómo la presentación de informes integrados optimiza, y a su vez, es mejorada por el pensamiento integrado.

Acerca de IFAC
IFAC es la organización global para la profesión contable, dedicada a servir el interés público a través del fortalecimiento de la profesión y la contribución para el desarrollo de economías internacionales sólidas. La IFAC se compone de 175 miembros y asociados en 130 países y territorios, representando aproximadamente a 2,8 millones de contadores en la práctica pública, la educación, el gobierno, la industria y el comercio.