This case study examines IPSAS adoption efforts in the Philippines, outlining the country context, structure of government, the accounting and auditing environment in the country, budget process, historical roots and capacity building involved. The case study also provides an executive summary and key takeaways from the Philippines adoption journey that can be useful for other countries.
The Western Balkan professional accountancy organizations (PAOs)—a group of PAOs comprising both IFAC members and non-members—have expressed interest in furthering their regional cooperation in the area of accountancy education and professional development in order to accelerate the development of the accountancy profession in the region.
Both IFAC and the World Bank Centre for Financial Reporting Reform (CFRR) have been working with the PAOs through their respective programming. In April 2018, the two organizations joined together to host a joint one-day Education Community of Practice workshop. Over 60 participants, including the leadership of PAOs from all over Europe, international experts, and members of IFAC’s Compliance Advisory Panel and PAO Development Committee participated in the event.
The workshop hosted panel sessions and open discussions where participants exchanged experiences, best practice examples, and the vision for the future.
IFAC staff presented its recent International Standards: 2017 Global Status Report and the opportunities and challenges that lie ahead for the accountancy profession at both a global level and for the Western Balkan region in particular. The report also highlights available resources, guidance, examples of best practice, and observations, including the need for multi-stakeholder collaboration and support from national, regional and global organizations to maintain the progress made thus far in the adoption and implementation of international standards.
Further details and materials from the workshop are available on the CFRR’s website.
In July 2017, more than 80 representatives representing 15 professional accountancy organizations (PAOs) in the ASEAN region and neighboring Asia-Pacific countries, regional bodies, and donor and development agencies gathered in Hanoi, Vietnam to participate in a Statements of Membership Obligations (SMO) workshop, co-organized by the IFAC Quality & Development (Q&D) staff and the Vietnam Association of Certified Public Accountants (VACPA).
Under the theme of Realizing the Power of PAOs: Credibility, Competency, and Collaboration, the one day workshop provided PAOs and key stakeholders the opportunity to take stock of the current state of the accountancy profession in the region and discuss challenges and successes affecting the profession. The main discussion points and conclusions from the workshop are available, which will be helpful to those working to strengthen PAOs.
00:15 – Introduction: Matt Waldron, IAASB Technical Director 00:36 – Highlights & Key Developments: Matt Waldron, IAASB Technical Director 03:19 – ISA 540 (Revised): Rich Sharko, Task Force Chair and IAASB Member 05:38 – ISA 315 (Revised): Fiona Campbell, IAASB Member 10:05 – ISA 220 and ISQC 1: Megan Zietsman, IAASB Deputy Chair 19:49 – Closing Remarks: Matt Waldron, IAASB Technical Director
