The objectives of the working group are:

• Provide written comments to International Accounting Standards Board (IASB) regarding potential verifiability or auditability issues arising from their proposals;
• Share information within the working group regarding recent financial reporting developments that may impact the remit of the working group; and 
• Assess the auditing implications arising from newly issued IASB pronouncements.

The International Federation of Accountants^® (IFAC^®) today published in the Spanish language two additional publications of the International Auditing and Assurance Standards Board^® (IAASB^®), translated as a result of the IberAm Project:

• Staff Questions & Answers (Q&A): Professional Skepticism in an Audit of Financial Statements—translated by Instituto de Censores Jurados de Cuentas de España (ICJCE)
• International Standards on Auditing^™ (ISA^™) Module PowerPoint presentations (12 sets of slides)—translated by Asociacion Interamericana de Contabilidad (AIC)

The IAASB Staff Q&A publication re-emphasizes to auditors the importance of an attitude of professional skepticism when performing their role. It focuses on the requirements and application material in the ISAs and the IAASB’s quality control standard that are of particular relevance to the proper understanding and application of professional skepticism during an audit of financial statements. In addition, answers are provided regarding what audit firms and auditors can do to enhance awareness of the importance of professional skepticism, identify aspects of an audit where professional skepticism may be particularly important, and how professional skepticism can be evidenced.

The ISA Module PowerPoint presentations are designed to promote awareness and understanding of the ISAs. They explain the key principles of, and major changes in, individual ISAs, including the implications for audits of small- and medium-sized entities (SMEs) and would typically be useful in connection with ISA implementation or training activities. The changes to individual ISAs are a result of the IAASB’s Clarity Project, designed to enhance the overall readability and understandability of the standards.

In addition, IFAC is pleased to announce the unanimous recent decision of the IberAm Executive Committee to publish all of its official Spanish-language translations, including the handbooks of the independent standard-setting boards, on the IFAC website in the same manner as the original English-language publications. This development will greatly increase accessibility of the authorized Spanish-language translations of the international standards and other publications.

“This is a very welcome development for IFAC’s adoption and implementation objectives in Spanish-speaking countries,” said Fayez Choudhury, IFAC’s Chief Executive Officer.  “The IberAm Project has, in a relatively short time, produced great results—this has required a shared vision, a commitment to serving the public interest, and substantial resources for the benefit of the Spanish-speaking profession as a whole. We are very grateful to our member bodies—ICJCE, Federación Argentina de Consejos Profesionales de Ciencias Económicas, and Instituto Mexicano de Contadores Públicos—and to AIC, IFAC’s regional organization for Latin America and the Caribbean, for the leadership they have shown and for their ongoing valuable contributions to this important work.”

Additional Spanish translations of IFAC publications will be forthcoming. 

About the IAASB^®
The International Auditing and Assurance Standards Board (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 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. IFAC is comprised of over 175 members and associates in 130 countries and jurisdictions, representing approximately 2.8 million accountants in public practice, education, government service, industry, and commerce.

Las presentaciones PowerPoint del Módulo ISA están diseñados para promover el conocimiento y la comprensión de las ISA. Explican los principios clave de las ISA y cambios importantes, ISA individuales, incluyendo las implicaciones para las auditorías de pequeñas y medianas empresas (PYME) y podrán ser de utilidad en relación con las actividades de aplicación de las ISA o para actividades de formación.

Esta publicación de preguntas y respuestas del personal del IAASB se centra en los requisitos y material de aplicación de las Normas Internacionales de Auditoría (ISA) y estándares de control de calidad del IAASB que son de particular relevancia para la comprensión y aplicación adecuada de escepticismo profesional durante una auditoría de estados financieros. Además, la publicación proporciona respuestas respecto a lo que las firmas de auditoría y los auditores pueden hace

Highlights from the IPSASB's June 23-26, 2015, meeting in Toronto, Canada.

:49 - Chair's Opening Remarks

2:21 - Social Benefits

5:35 - Applicability of IPSAS

6:43 - Public Sector Combinations

7:44 - Chair's Closing Remarks

9:02 - Next Meeting