IAASB Technical Director Kathy Healy hosts the September 2015 audio podcast featuring Chairman Arnold Schilder, Deputy Chair Chuck Landes, and IAASB members Annette Köhler, Rich Sharko, and Megan Zietsman as they discuss key activities and events from the board's September 21-25, 2015, meeting in New York.
:06 - Introduction
:31 - Chairman's Overview
3:21 - Enhancing Audit Quality - Draft Invitation to Comment, Group Audits and Quality Control
9:23 - Financial Institutions, including ISA 540 and IFRS 9
12:50 - Professional Skepticism
14:30 - Approval of ISA 800 (Revised) and ISA 805 (Revised)
16:14 - Innovation, Integrated Reporting, and Data Analytics
The IFAC Member Compliance Program Strategy, 2016-2018 has been issued after consideration of the more than 70 responses received from a 60-day public consultation period and finalization with proper regard for the public interest. The Member Compliance Program and the Compliance Advisory Panel (CAP) were established by the IFAC Board more than ten years ago as part of IFAC’s commitment to support the growth of professional accountancy organizations and encourage member organizations to further the adoption and implementation of international standards.
The Program strategy reiterates the importance of its primary activities, which center on:
Maintaining robust application and compliance processes;
Gathering and sharing knowledge about the adoption of international standards and practices and fulfillment of the IFAC Statements of Membership Obligations (SMOs);
Maintaining the SMOs as a global benchmark for the accountancy profession; and
Developing assessment methodology, tools, and guidance to support the Program.
For 2016-2018, the Program’s strategy will place a greater focus on:
Monitoring member organizations’ compliance with membership requirements, including the SMOs, to better understand challenges facing these organizations;
Enhancing reporting on the status of adoption of international standards; and
Identifying actions to address adoption and implementation challenges, including support for member organizations and national authorities.
The Program’s strategy is aligned with IFAC’s mission and strategy and benefits from the inputs received from member organizations and other stakeholders as part of IFAC’s strategic planning process. These activities fulfill the Program’s mandate and are expected to remain valid over the long term.