Methodology for Assessing Adoption

  • Quality Assurance
    Adopted

    A quality assurance (QA) review system, incorporating all of the requirements of IFAC Statement of Membership Obligation (SMO) 1 has been established and is operational for all mandatory audits.

    Partially Adopted

    A QA review system, incorporating all of the requirements of SMO 1, has been established and is operational for some of the mandatory audits (e.g., public interest entities).

    or

    A QA review system for all mandatory audits has been established and is operational but incorporates only some of the requirements of SMO 1.

    or

    A QA review system, incorporating all of the requirements of SMO 1, has been established but is not yet operational.

    Not Adopted

    No QA review system has been establishInternational Public Sector Accounting Standardsed.

  • International Education Standards (IES)
    Adopted

    The requirements of the IES in their entirety in effect as of the time of the assessment have been adopted for all aspiring professional accountants and professional accountants.

    Partially Adopted

    The requirements from an earlier version of IES have been adopted.

    or

    The requirements of the IES in their entirety in effect as of the time of the assessment have been adopted for a segment of the profession.

    or

    Not all the requirements of IES in effect as of the time of the assessment have been adopted for professional accountants.

    Not Adopted

    The requirements of the IES have not been adopted.

  • International Standards on Auditing
    Adopted

    ISA in their entirety in effect as of the time of the assessment have been adopted and are effective for application in all mandatory audits.

    Partially Adopted

    An earlier version of ISA (2009 or later) has been adopted.

    or

    Not all currently effective ISA have been adopted.

    or

    ISA are required for application in selected types of audit.

    Not Adopted

    ISA have not been adopted.

    or

    Pre-2009 version of ISA has been adopted.

  • International Code of Ethics for Professional Accountants (including International Independence Standards)
    Adopted

    The International Code of Ethics for Professional Accountants (the Code) in its entirety in effect as of the time of the assessment has been adopted for all professional accountants.

    Partially Adopted

    An earlier (2009 or later) version of the Code has been adopted for all professional accountants.

    or

    The Code in its entirety in effect as of the time of the assessment has been adopted for a segment of the profession.

    or

    Not all the requirements of the currently effective Code have been adopted.

    Not Adopted

    A pre-2009 version of the Code has been adopted.

    or

    The Code has not been adopted. 

  • International Public Sector Accounting Standards
    Adopted

    Accrual-basis IPSAS with no modifications or accrual-basis IPSAS modified for local context have been adopted for application by all public sector entities.

    Partially Adopted

    Accrual-basis national standards with reference to IPSAS OR accrual-basis national standards have been adopted.

    or

    Partial-accrual basis IPSAS modified for local context OR Partial-accrual IPSAS with no modifications OR Partial-accrual national standards with reference to IPSAS have been adopted.

    or

    Cash-basis IPSAS has been adopted.

    Not Adopted

    IPSAS have not been adopted – either partial-accrual basis national standards OR cash-basis national standards are adopted.

  • Investigative and Disciplinary System
    Adopted

    An investigation & disciplinary system (I&D) system, incorporating all of the requirements of IFAC Statement of Membership Obligation (SMO) 6, has been established and is operational for all professional accountants.

    Partially Adopted

    An I&D system, incorporating all of the requirements of SMO 6, has been adopted and is operational a segment of the profession.

    or

    An I&D system for all professional accountants has been established and is operational only incorporates some of the requirements of SMO 6.

    or

    An I&D system, incorporating all of the requirements of SMO 6, has been established but is not yet operational.

    Not Adopted

    No I&D system has been established.

  • International Financial Reporting Standards
    Adopted

    IFRS in their entirety in effect as of the time of the assessment have been adopted for application by all public interest entities

    Partially Adopted

    An earlier version of IFRS has been adopted for application by all public interest entities.

    or

    IFRS in their entirety in effect as of the time of the assessment have been adopted for selected types of public interest entities.

    or

    Not all currently effective IFRS have been adopted.

    Not Adopted

    IFRS have not been adopted.

  • Draft Country Profiles
    Draft

    Draft profiles have been completed by IFAC but are under review by Member(s) or Associate(s) in that jurisdiction.