The next issue of IFAC News will include an article on the translation activities of the International Arab Society of Certified Accountants (IASCA) and the Saudi Organization for Certified Public Accountants (SOCPA), two of the designated bodies for Arabic translation of publications from IFAC and the independent standard-setting boards. Both organizations seek to advance the professions of accountancy, auditing, and related fields through the distribution of professional knowledge in Arabic. These translations serve professional accountants in 25 Arabic-speaking nations. IFAC would like to extend its gratitude to SOCPA and IASCA for their efforts in producing high-quality translations for the Arabic speaking world.
Additionally, several resources have recently been made available in Arabic, including the Handbook of International Public Sector Accounting Pronouncements (2012); Handbook of International Quality Control, Auditing, Review, other Assurance and Related Services Pronouncements (2012); and the Handbook of the Code of Ethics for Professional Accountants (2012). For more information regarding Arabic translations, please see the upcoming edition of IFAC News. Register and subscribe on the IFAC website.
IFAC recently held a workshop on the IFAC Statements of Membership Obligations (SMOs) with members of the Fédération International des Experts-Comptables Francophones (FIDEF) during FIDEF’s General Assembly and the 68th Congrès des Experts-Comptables in Dijon, France. The event gathered 31 participants representing 20 professional accountancy organizations. The workshop promoted knowledge exchange and offered an open forum for the participants to share experiences and discuss challenges and lessons learned. The translation of IFAC guidance and international standards into French was also an important topic of discussion during the event.
In September, the Code of Ethics for Professional Accountants (2012) and the Handbook of International Quality Control, Auditing, Reviewing, Other Assurance, and Related Services Pronouncements were made available in Chinese. The 2012 Sixth Annual Global Leadership Survey was recently made available as well. High-quality translations in Chinese are crucial to supporting the accountancy profession. IFAC would like to extend its gratitude to the Chinese Institute of Certified Public Accountants for its time and effort in translating these materials.
The Russian Collegium of Auditors (RCA) has finalized its translation of Part I of the 2012 Handbook of International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements. Part II of the translated handbook is expected to be released before the end of 2013. IFAC thanks the RCA for its instrumental efforts in producing Russian translations. For more information on the RCA and its translations efforts, please see the feature article, “RCA: Leveraging Translation Expertise,” in the August edition of IFAC News.
In October 2012, IFAC and its member bodies in Argentina, Mexico, and Spain agreed to establish an Ibero-American Cooperation Framework to collaborate on a sustainable process for producing a single Spanish translation for international standards and IFAC publications (the “IberAm project”). Spanish is widely spoken around the world, with the second largest number of native speakers, after Chinese. The availability of high-quality Spanish translations of international standards is, therefore, essential to facilitate effective adoption and implementation.
The IberAm project includes a broad representation of Spanish-speaking countries and seeks to collaborate and coordinate the translating resources of relevant member bodies more efficiently. The project’s Executive Committee sets the strategic direction of the project and a Review Committee has been established for the purpose of quality assurance of translations. Representatives from member bodies in Argentina, Bolivia, Colombia, Costa Rica, El Salvador, Mexico, Nicaragua, Spain, and Uruguay participate in the Review Committee. The chair of the Review Committee is an appointed delegate from IFAC’s Argentinian member body, the Federación Argentina de Consejos Profesionales de Ciencias Económicas. More than 1,500 pages of materials are scheduled to be translated into Spanish before the end of 2013. Many of the translated materials are currently under review by the Review Committee and subject to the approval of the Executive Committee before their formal publication.
IFAC, in cooperation with the World Bank and the Department of Accounting and Finance at the University of Zaragoza, Spain, has recently finalized the Spanish translation of the 2013 Handbook of International Public Sector Accounting Pronouncements, issued by the International Public Sector Accounting Standards Board (IPSASB). The translation was reviewed by an international committee consisting of public sector experts from Argentina, Chile, Mexico, Spain, and Uruguay. IFAC is very grateful for the valuable contributions and kind assistance of all those involved.
We anticipate the printed version of the translated handbook being available for sale on the IFAC website in the fourth quarter of 2014. Please contact permissions@ifac.org for more information.
- Arabic—Evaluating and Improving Internal Control in Organizations (2012); Good Practice Checklist for Small Business (2012); Handbook of International Public Sector Accounting Pronouncements (2012); Handbook of International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements (2012); Handbook of the Code of Ethics for Professional Accountants (2012)
- Bulgarian—“Boosting the Quality and Efficiency of Smaller Entity Audits” (2013); “How to Cope with Pressure to Lower Fees” (2012); Handbook of International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements (2012); Handbook of the Code of Ethics for Professional Accountants (2012)
- Chinese—Handbook of International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements (2012); Sixth Annual Global Leadership Survey (2012); Code of Ethics for Professional Accountants (2012)
- Czech—“IAASB Proposals for Enhancing the Auditor’s Report: Potential Impact on Audits of Unlisted Entities” (2013)
- Danish—International Standard on Auditing (ISA) 610 (Revised), Using the Work of Internal Auditors and Related Conforming Amendments (2013)
- Dutch—ISA 610 (Revised), Using the Work of Internal Auditors (2012); ISA 315 (Revised), Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and Its Environment (2012); International Standard on Assurance Engagements (ISAE) 3410, Assurance Engagements on Greenhouse Gas Statements (2012); International Standard on Related Services (ISRS) 4410 (Revised), Compilation Engagements (2012); “How to Cope with Pressure to Lower Fees” (2012)
- Estonian—Handbook of the Code of Ethics for Professional Accountants (2009)
- Icelandic—Handbook of the Code of Ethics for Professional Accountants (2009)
- Latvian—Handbook of International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements (2012); Handbook of the Code of Ethics for Professional Accountants (2012)
- Macedonian—International Public Sector Accounting Standards (IPSAS) 1-25 (2012)
- Polish—International Good Practice Guidance, Principles for Effective Business Reporting Processes (2013)
- Portuguese—Guide to Using International Standards on Auditing in the Audits of Small- and Medium-Sized Entities, Third Edition (2011); Handbook of International Public Sector Accounting Pronouncements (2012)
- Romanian—“Boosting the Quality and Efficiency of Smaller Entity Audits” (2013)
- Russian—“Russian Collegium of Auditors: Leveraging Translations Expertise” (2013)
- Slovak—Handbook of International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements (2012)
- Spanish—“International Auditing and Assurance Standards Board (IAASB)’s Proposals for Enhancing the Auditor’s Report: Potential Impact on Audits of Unlisted Entities” (2013); Reporting on Audited Financial Statements: Proposed New and Revised International Standards on Auditing (2013); Global Digest June 2013 (2013); IFAC Update June 2013 (2013); International Ethics Standards Board of Accountants (IESBA) eNews June 2013 (2013); Professional Accountants in Business (PAIB) Committee eNews June 2013 (2013); International Standard on Auditing (ISA) 720 (Revised), The Auditor’s Responsibilities Relating to Other Information in Documents Containing or Accompanying Audited Financial Statements and the Auditor’s Report Thereon (2012); IFAC Update April 2013 (2013); Global Digest April 2013 (2013); Global Digest May 2013 (2013); PAIB Committee eNews April 2013 (2013)
- Thai—Guide to Quality Control for Small- and Medium-Sized Practices, Third Edition (2011); Guide to Using International Standards on Auditing in the Audits of Small- and Medium-Sized Entities, Third Edition (2012)
- Turkish—International Standard on Quality Control (ISQC) 1, Quality Control for Firms that Perform Audits and Reviews of Financial Statements, and Other Assurance and Related Services Engagements (2012)