In support of transparency, adoption, and implementation of international standards, as well as the public interest, IFAC has published comprehensive profiles of member organizations and the jurisdictions in which they operate on our website. The in-depth information demonstrates the widespread use of international standards and the efforts of IFAC member organizations to encourage adoption, advance implementation, and support the businesses, communities, and governments in their nations.

This issue of eNews will help users understand how to navigate the new content and what information is available. The images to the right are a key component of this eNews and the explanations below. Please email any feedback or questions to compliance@ifac.org.

To further support transparency, adoption, and implementation of international standards, as well as the public interest, the International Federation of Accountants^® (IFAC^®) today published comprehensive profiles of IFAC member organizations and the jurisdictions in which they operate.

This in-depth information demonstrates the widespread use of international standards and the efforts of IFAC member organizations to encourage adoption, advance implementation, and support the businesses, communities, and governments in their nations. It also emphasizes the crucial role of IFAC member organizations in further strengthening the quality of the accountancy profession and the need to strategically focus attention and resources.

“High-quality, internationally accepted standards for the accountancy profession are crucial to enhancing confidence and stability in the global economy,” said IFAC President Olivia Kirtley. “Publishing this information is a significant milestone in reporting the progress on adoption of international standards made by IFAC member organizations, national standard setters, regulators, and other stakeholders.”

Profiles for an initial 62 IFAC member organizations and 48 countries are now available on the IFAC website. Each country profile includes a description of the regulatory and legal landscape for the accountancy profession in that jurisdiction and an assessment of the adoption of international standards for audit, ethics, education, and public and private sector accounting, as well as the establishment of quality assurance and investigative and disciplinary systems. Member organization profiles also include information on compliance with the IFAC Statements of Membership Obligations.

“We are really pleased to take this significant step forward by providing more information about the global profession,” said Sylvia Tsen, IFAC Senior Director, Quality and Member Relations. “These profiles provide enhanced transparency that will help the public better understand jurisdictional landscapes—legal, regulatory, oversight, and more—and better understand the ongoing work of IFAC member organizations in further strengthening the entire profession—and the global economy.”

This information was compiled by IFAC staff drawing from multiple sources, including the information collected through the IFAC Member Compliance Program and the member organizations themselves. Remaining profiles will be published in the coming months and content will be updated annually.

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

The 2013 edition of the International Public Sector Accounting Standards Board (IPSASB) Handbook of International Public Sector Accounting Pronouncements has been published in French.

This handbook contains the IPSASB’s pronouncements on public sector financial reporting—IPSAS 1-32—and Chapters 1-4 of the Conceptual Framework for General Purpose Financial Reporting by Public Sector Entities.

The French translation was performed by the Conseil de normalisation des comptes publics, with the support of Compagnie Nationale des Commissaires aux Comptes and Conseil Supérieur de l'Ordre des Experts-Comptables.

For an overview of translations of IFAC’s publications, please visit the Translations Database.

IFAC commends FEE for its initiative on the future of corporate reporting, and emphasizes Integrated Reporting as the way forward to better informed and more effective capital markets through real change in the way organizations make decisions, based on taking a longer-term perspective. IFAC recommends that the proposed CORE report should be based on Integrated Reporting, including the principles and content elements in the International <IR> Framework.

El Comité de Nominaciones de la Federación Internacional de Contadores^® (IFAC^®) emitió hoy una Convocatoria Especial: Miembro de América Latina y el Caribe para el Comité de Nominaciones en el 2017. La convocatoria especial para las nominaciones representa una oportunidad para integrar el Comité de Nominaciones de la IFAC.

El Comité de Nominaciones está buscando a un miembro experimentado y altamente respetado de la profesión, con una considerable experiencia internacional y conocimiento general de la IFAC y sus actividades, que está bien informado de los riesgos y las oportunidades que tienen un impacto en la profesión contable mundial para ocupar el puesto como miembro del Comité de Nominaciones. El Comité de Nominaciones está particularmente interesado en los candidatos que previamente hayan servido en comités de postulación u organismos similares en su región, o que tengan participación previa con funciones de recursos humanos y experiencia en la evaluación de competencias y cualificaciones de candidatos con un alto grado de imparcialidad. Dominio del idioma Inglés (escrito y oral) es esencial.

Está vacante está abierta para las nominaciones de las organizaciones miembros de la IFAC.

"Los voluntarios son clave para el funcionamiento eficaz de la IFAC," dijo la Presidente del Comité de Nominaciones Olivia Kirtley. "Buscamos tener una representación lo más ampliamente posible para reflejar mejor la diversidad, la membresía global de la IFAC y queremos asegurar que la región de América Latina y el Caribe este adecuadamente representada en este importante comité. Agradecemos a todas nuestras organizaciones miembro por su continuo apoyo y esperamos recibir sus nominaciones".

Los candidatos deben aplicar en línea a través de la base de datos de nominaciones antes del 1 de agosto de 2016. Las instrucciones sobre cómo aplicar están disponibles en el sitio web de la IFAC.

Se prevé que una entrevista para esta posición se llevé a cabo por parte del Comité de Nominaciones, fecha por determinar, una vez la aplicaciones hayan sido recibidas.

To access this press release in English, see IFAC Issues Special Call for Nominations for Nominating Committee Member from Latin America and Caribbean.

Acerca de la IFAC
IFAC  es la organización mundial de la profesión contable, dedicada a servir al interés público mediante el fortalecimiento de la profesión y contribuyendo al desarrollo de economías internacionales fuertes. Está compuesta por más de 175 miembros y asociados en más de 130 países y jurisdicciones, que representan cerca de 3 millones de contadores en la práctica pública, la educación, el sector gobierno, la industria y el comercio.

The International Federation of Accountants^® (IFAC^®) Nominating Committee issued today the Call for Nominations from Latin America and Caribbean for the Nominating Committee in 2017. The supplementary Call for Nominations sets out this upcoming opportunity for membership on the IFAC Nominating Committee.

The Nominating Committee is looking for a senior and highly respected member of the profession, with considerable international experience and general knowledge of IFAC and its activities, who is knowledgeable of the risks and opportunities having an impact on the global accountancy profession to fill the position of Nominating Committee Member. The Nominating Committee is particularly interested in candidates who previously served on nominating or similar committees in their region or have previous involvement with human resource functions, and also have experience in assessing candidates’ skills and qualifications with a high degree of impartiality. English proficiency (both written and oral) is essential.

This vacancy is open for nominations by IFAC member organizations.

“Volunteers are key to the effective functioning of IFAC,” said Nominating Committee Chair Olivia Kirtley. “We seek to have as broad a representation as possible to better reflect IFAC’s diverse, global membership and want to make sure that the Latin America and Caribbean region is appropriately represented in this important committee. We thank all our member organizations for their continued support and look forward to receiving their nominations.”

Candidates should apply online via the nominations database by August 1, 2016. Instructions on how to apply are available on the IFAC website.

It is anticipated that an interview for this position will be conducted by the Nominating Committee at a time to be determined once the applications have been received.

To access this press release in Spanish, see IFAC abre Convocatoria Especial para un Miembro de América Latina y el Caribe para el Comité de Nominaciones.

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

Last night’s decision on the UK referendum on Europe caught many by surprise; capital markets have reacted negatively, and we can expect them to continue to reflect uncertainty in the short term.

The withdrawal process could be a long and complex one, spanning a number of years, and the knock-on effect in Europe is hard to predict.

“Clearly, the UK, Europe, and many other parts of the world will be operating in a period of considerable uncertainty. The accountancy profession will have an important role to play in the myriad issues that will need to be addressed,” said Fayezul Choudhury, IFAC Chief Executive Officer.

IFAC recognizes that the effects of these issues will be pervasive:

• for companies addressing short-term risks and thinking through their longer-term plans;
• for regulators as they overlay the implications of recent developments on an already complex and fragmented regulatory environment;
• for capital markets as they seek to regain stability and an orderly process; and
• for governments as they realign public policies, particularly in significantly affected areas, such as taxation.

IFAC has consistently advocated for the importance of global cooperation and coordination, and of the need for governments to work together to support a strong, sustainable global economy. Regulatory cooperation and consistency, enhanced public sector financial management and transparency, the adoption and use of globally accepted, high-quality standards, and commitments to work together to address taxation matters are fundamental to finding solutions and outcomes that benefit all of society.

“IFAC has always stressed that governments, businesses, and the regulatory community across the globe must work together, cooperatively, to respond to the challenges being faced by our interconnected financial markets and economies,” said Mr. Choudhury. "Brexit makes this collaborative approach all the more vital, and the global accountancy profession must be engaged in bringing its experience and expertise to bear in many of the areas where work will be needed.”

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 Auditing and Assurance Standards Board^® (IAASB^®)’s new ISA^® 701, Communicating Key Audit Matters in the Independent Auditor's Report, and other revised standards designed to enhance auditor’s reports for investors and other users of financial statements, have been published in French.

The other revised standards consist of:

• ISA 260 (Revised), Communication with Those Charged with Governance;
• ISA 570 (Revised), Going Concern;
• ISA 700 (Revised), Forming an Opinion and Reporting on Financial Statements; and
• ISA 706 (Revised), Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor's Report

In addition, three other French translations of International Standards on Auditing^® were published: ISA 800 (Revised), Special Considerations─Audits of Financial Statements Prepared in Accordance with Special Purpose Frameworks, ISA 805 (Revised), Special Considerations─Audits of Single Financial Statements and Specific Elements, Accounts or Items of a Financial Statement, and ISA 810 (Revised), Engagements to Report on Summary Financial Statements.

These standards are effective for audits of financial statements for periods ending on or after December 15, 2016.

The French translations were performed by the Chartered Professional Accountants Canada.

For an overview of translations of International Federation of Accountants^® (IFAC^®) publications, please visit the Translations Database.

The International Federation of Accountants^® (IFAC^®) today announced the selection of Certified Public Accountants Ireland (CPA Ireland) to partner with the Association of National Accountants of Nigeria (ANAN) and its training arm, the Nigerian College of Accountancy (NCA), to review and strengthen its study materials and examination processes.

NCA is a postgraduate professional college established in 1994. It is responsible for determining the standards of knowledge and skills needed by potential ANAN members and promoting the highest standards of competence, practice, and conduct. NCA provides tuition to 1,000 full-time residential students every year, as well as to part-time students through its mature students program.

In working with ANAN, CPA Ireland will review, update, and make recommendations for ongoing maintenance to the syllabus, study materials, and examination for NCA’s professional and conversion programs.

“CPA Ireland is no stranger to the accountancy profession in Nigeria, having worked with ANAN on a number of projects in recent years,” said Eamonn Siggins, CPA Ireland Chief Executive. “We have a strong understanding of ANAN, its position in the accountancy profession in Nigeria, and the Nigerian profession. We look forward to continuing our strong relationship with ANAN through this partnership to advance accountancy education.”

“Working with CPA Ireland to strengthen their training and examination will help NCA elevate their accountancy education in line with good practice, and position them to make a strong contribution to building public sector accountancy capacity as well as attract increasing numbers of students,” said Alta Prinsloo, IFAC Executive Director, Strategy, and Chief Operating Officer.

In 2014, IFAC received almost £5 million from the UK Department for International Development (DFID) to fund PAO capacity building in ten emerging countries over seven years. CPA Ireland joins other global accountancy organizations that have been selected to develop the profession in specific nations. Each partner organization was selected following global Calls for Expressions of Interest and an extensive proposal and review process involving multiple global organizations and the IFAC PAO Capacity Building Program Oversight Committee and Independent Selection Panel. Work stemming from these partnerships are currently underway in Ghana, Rwanda, Uganda, and Zimbabwe and a planned project in Kyrgyzstan is in development.

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.

About CPA Ireland
The Institute of Certified Public Accountants in Ireland (CPA Ireland) is one of the main Irish accountancy bodies representing 5,000 members and students. The CPA designation is the most commonly used designation worldwide for professional accountants and the Institute’s qualification enjoys wide international recognition. Its current membership operates in public practice, Industry, financial services and the public sector and CPAs work in over 40 countries around the world.

CPA Ireland is active in the profession at national and international level participating in the Consultative Committee of Accountancy Bodies – Ireland – CCAB (I) and together with other leading accountancy bodies the Institute was a founding member of the International Federation of Accountants (IFAC) – the worldwide body. CPA Ireland is also a member of the Federation des Experts Comptables Europeens (FEE), the representative body for the main accountancy bodies in 37 European countries.

The Institute fulfils its statutory role as a recognised body by overseeing the professional activities of its members in practice, and insuring that education and training standards are maintained. As the first accountancy body to introduce a mandatory regime of Continuing Professional Development, the Institute ensures that all CPAs remain at the leading edge throughout their careers. The Institute provides a quality service to its Members and Students, which has been recognised through the award and maintenance of ISO 9001:2008. For further information visit www.cpaireland.ie.

About DFID
The UK Department for International Development (DFID) leads the UK’s work to end extreme poverty. They are ending the need for aid by creating jobs, unlocking the potential of girls and women and helping to save lives when humanitarian emergencies hit. For more information, visit www.gov.uk/dfid.