The International Federation of Accountants^® (IFAC^®) today published the following Question and Answer (Q&A) documents of the International Auditing and Assurance Standards Board^® (IAASB^®) and the International Ethics Standards Board for Accountants^® (IESBA^®) in the Spanish language:

• Staff Q&A - Applying ISAs Proportionately with the Size and Complexity of an Entity
• Staff Q&A - Applying ISQC 1 Proportionately with the Nature and Size of a Firm
• IESBA Staff Q&A - Implementing the Code of Ethics—Part I      
• IESBA Staff Q&A - Implementing the Code of Ethics—Part II 

These Spanish language translations are a result of the Ibero-American cooperation framework, known as the IberAm project. Established in 2012, the IberAm project—which includes IFAC and its member bodies Instituto de Censores Jurados de Cuentas de España, Federación Argentina de Consejos Profesionales de Ciencias Económicas, and Instituto Mexicano de Contadores Públicos—is an IFAC-authorized translation and review process that strives to achieve longer-term, sustainable processes for single Spanish translations of international standards and other IFAC publications. The Interamerican Accounting Association, IFAC’s regional organization for Latin America and the Caribbean, is an observer to the project.  In addition, the project involves a Review Committee of technical experts representing IFAC member bodies in nine Spanish-speaking countries.

The IAASB Staff Q&A publications highlight how the design of the International Standards on Auditing (ISAs) enables them to be applied in a manner proportionate with the size and complexity of an entity, and how the design of 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, enables it to be applied in a manner proportionate with the nature and size of a firm.

The IESBA Q&A publications are intended to assist professional accountancy organizations and others as they adopt and implement the Code of Ethics for Professional Accountants (the IESBA Code).

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 the IESBA
The International Ethics Standards Board for Accountants (IESBA) develops ethics standards and other pronouncements for professional accountants worldwide under a shared standard-setting process involving the Public Interest Oversight Board, which oversees the activities of the IESBA, and the IESBA Consultative Advisory Group, which provides public interest input into the development of the standards and other pronouncements. The structures and processes that support the operation of the IESBA are facilitated by IFAC. Please visit www.ethicsboard.org for more information, and follow us on Twitter @Ethics_Board.

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 2.5 million accountants in public practice, education, government service, industry, and commerce.

The International Public Sector Accounting Standards Board^® (IPSASB^®) has published the following five International Public Sector Accounting Standards™ (IPSASs™):

• IPSAS 34, Separate Financial Statements;
• IPSAS 35, Consolidated Financial Statements;
• IPSAS 36, Investments in Associates and Joint Ventures;
• IPSAS 37, Joint Arrangements; and
• IPSAS 38, Disclosure of Interests in Other Entities.

These five standards will replace current requirements in:

• IPSAS 6, Consolidated and Separate Financial Statements;
• IPSAS 7, Investments in Associates; and
• IPSAS 8, Interests in Joint Ventures. 

A key part of the IPSASB’s strategy to develop high-quality public sector financial reporting standards is to maintain existing IPSASs. IPSASs 6, 7, and 8 are based on International Financial Reporting Standards (IFRSs). Because the underlying IFRSs have changed, the IPSASB has developed IPSASs 34-38 so that convergence with the related IFRSs is maintained to the extent appropriate. These IPSASs also incorporate important guidance to make them appropriate for application in the public sector.

“These five IPSASs establish requirements for how public sector entities, including governments, should account for their interests in other entities,” said IPSASB Chair Andreas Bergmann. “Accrual-based accounting practices provide a comprehensive picture of the financial performance and position of public sector entities. Appropriate accounting for interests in other entities is an important aspect of this comprehensive picture.”

The following highlights particular aspects of each IPSAS:

IPSAS 34, Separate Financial Statements

The requirements for separate financial statements in IPSAS 34 are very similar to the current requirements for separate financial statements in IPSAS 6.

IPSAS 35, Consolidated Financial Statements

IPSAS 35 supersedes the requirements in IPSAS 6 regarding consolidated financial statements.

IPSAS 35 still requires that control be assessed having regard to benefits and power, but the definition of control has changed and the standard now provides considerably more guidance on assessing control. The definition of control focuses on an entity’s ability to influence the nature and amount of benefits through its power over another entity. This new definition of control may impact previous assessments of control, and therefore whether certain entities should be consolidated.

IPSAS 35 introduces the concept of “investment entities,” which may be applicable to some sovereign wealth funds. Generally, an investment entity measures its investments in controlled entities at fair value through surplus or deficit. After thorough consultation, the IPSASB decided, for public sector specific reasons, that an entity which controls an investment entity should retain this method of accounting for an investment entity’s investments in its consolidated financial statements, regardless of whether it is itself an investment entity.

In contrast with IPSAS 6, IPSAS 35 no longer permits an exemption from consolidation for temporarily controlled entities. Consistent with the IPSASB’s policy of reducing unnecessary differences between IPSASs and Government Finance Statistics reporting guidelines, the IPSASB has aligned the principles in IPSAS 35 with the Government Finance Statistics Manual 2014 (pre-publication draft) where feasible.

IPSAS 36, Investments in Associates and Joint Ventures

IPSAS 36 explains the application of the equity method of accounting, which is used to account for investments in associates and joint ventures. The requirements are very similar to the current guidance in IPSAS 7. Because equity accounting must now be used when accounting for joint ventures, the title of the standard now also refers to joint ventures.

In contrast with IPSAS 7, IPSAS 36 does not permit a different accounting treatment for temporary investments. 

IPSAS 37, Joint Arrangements

IPSAS 37 establishes requirements for classifying joint arrangements and accounting for those different types of joint arrangements. Joint arrangements are classified as either joint operations or joint ventures. In a joint operation, the parties to the arrangement have rights to the assets and obligations for the liabilities relating to the arrangement. In a joint venture, the parties to the arrangement have rights to the net assets of the arrangement. These classifications differ from IPSAS 8, which referred to three types of arrangements (jointly controlled entities, jointly controlled operations, and jointly controlled assets).

IPSAS 37 requires that an entity account for its interest in a joint operation by recognizing its share of the assets, liabilities, revenue, and expenses of the joint arrangement. It also requires that joint ventures be accounted for using the equity method. Previously, IPSAS 8 permitted jointly controlled entities to be accounted for using either the equity method or proportionate consolidation.

IPSAS 38, Disclosure of Interests in Other Entities

IPSAS 38 brings together the disclosures previously included in IPSASs 6–8. It also introduces new disclosure requirements, including those related to structured entities that are not consolidated and controlling interests acquired with the intention of disposal.

About the IPSASB
The IPSASB develops accounting standards and guidance for use by public sector entities. The structures and processes that support the operations of the IPSASB are facilitated by IFAC. The IPSASB receives support (both direct financial and in-kind) from the World Bank, the Asian Development Bank, the Chartered Professional Accountants of Canada, the South African Accounting Standards Board, and the governments of Canada, New Zealand, and Switzerland.

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. It is comprised of over 175 members and associates in 130 countries and jurisdictions, representing approximately 2.5 million accountants in public practice, education, government service, industry, and commerce.

The International Public Sector Accounting Standards Board^® (IPSASB^®) has published a new International Public Sector Accounting Standard^™ (IPSAS^™), IPSAS 33, First-time Adoption of Accrual Basis IPSASs. IPSAS 33 grants transitional exemptions to entities adopting accrual basis IPSASs for the first time, providing a major tool to help entities along their journey to implement IPSASs. 

“With IPSAS 33, the IPSASB has developed a comprehensive standard that provides guidance and exemptions for entities that are transitioning to accrual basis IPSASs,” said IPSASB Chair Andreas Bergmann. “IPSAS 33 meets the needs of both preparers and users of financial statements during the transition period. Its publication is a further incentive for entities to make the decision to apply IPSASs. ”

IPSAS 33 allows first-time adopters three years to recognize specified assets and liabilities. This provision allows sufficient time to develop reliable models for recognizing and measuring assets and liabilities during the transition period.

This new standard addresses situations when reliable historical cost information about assets and liabilities is not available. It also addresses the presentation of comparative information in transitional IPSAS financial statements and an entity’s first IPSAS-compliant financial statements.

Using these comprehensive principles will ensure that an entity’s first financial statements using accrual basis IPSASs contain high-quality information and can be generated at a cost that does not exceed the benefits.

About the IPSASB
The IPSASB develops accounting standards and guidance for use by public sector entities.  It receives support (both direct financial and in-kind) from the World Bank, the Asian Development Bank, the Chartered Professional Accountants of Canada, the South African Accounting Standards Board, and the governments of Canada, New Zealand, and Switzerland.  The structures and processes that support the operations of the IPSASB 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. It is comprised of more than 175 members and associates in 130 countries and jurisdictions, representing approximately 2.5 million accountants in public practice, education, government service, industry, and commerce.

The International Auditing and Assurance Standards Board^® (IAASB^®) today released proposals to enhance auditor reporting on special purpose financial statements. The Exposure Draft includes changes proposed to ISA 800, Special Considerations—Audits of Financial Statements Prepared in Accordance with Special Purpose Frameworks, and ISA 805, Special Considerations—Audits of Single Financial Statements and Specific Elements, Accounts or Items of a Financial Statement.

Reporting on special purpose financial statements is linked to the recently issued new and revised Auditor Reporting standards, in particular ISA 700 (Revised), Forming an Opinion and Reporting on Financial Statements and new ISA 701, Communicating Key Audit Matters in the Independent Auditor’s Report. As such, the IAASB has amended ISA 800 and ISA 805 to provide guidance on how the enhancements to the auditor’s report would apply in audits of special purpose financial statements. These amendments are limited to auditor reporting and are not intended to substantively change the underlying premise of these engagements in accordance with the extant ISAs.

How to Comment
The IAASB invites all stakeholders to respond to this Exposure Draft, which includes specific questions for respondents on key aspects of the proposals and highlights areas of focus for various stakeholders in responding to the Exposure Draft. To access the Exposure Draft and submit a comment, visit the IAASB’s website at www.iaasb.org. Comments on the Exposure Draft are requested by April 22, 2015.

About the International Auditing and Assurance Standards Board(IAASB)
The 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 the International Federation of Accountants (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 2.5 million accountants in public practice, education, government service, industry, and commerce.

The biggest challenges facing small- and medium-sized accounting practices (SMPs) worldwide are complying with regulations and standards and attracting new clients, according to the 2014 IFAC^® Global SMP Survey. Conducted annually, the Global SMP Survey provides unique insights into the challenges and opportunities facing SMPs around the world.

“IFAC is committed to building the capacity of SMPs worldwide, and the findings from our SMP Survey are critical to that mission,” commented IFAC CEO Fayezul Choudhury. “Understanding the challenges that SMPs and their clients face, both on a regional and global scale, helps IFAC and our member organizations better serve this important constituency and accurately represent them in our interactions with regulators, standard setters, and policy makers.”

The key findings from the 2014 IFAC Global SMP Survey include:

Challenges Facing SMPs

• Keeping up with regulations and standards (57%) and attracting new clients (58%) were identified as the two greatest challenges facing SMPs worldwide. Pressure to lower fees (51%), rising costs (50%), and differentiating from the competition (50%) were nearly tied as the next biggest challenges.
• Attracting new clients was found to be a key concern in the Middle East (80%), but much less of a concern in North America (33%) and Australasia/Oceania (36%).  
• Regulatory concerns ranked highly at firms in Central and South America (68%), the Middle East (65%), and Europe (63%).

Challenges Facing SME Clients

• Rising costs (67%) and economic uncertainty (66%) were identified as the top two challenges facing SME clients.
• This was especially apparent in the Middle East and Africa, where these challenges were ranked higher than any other region.

Percentages in the above represent respondents rating these challenges as a “high challenge” or “very high challenge.”

Performance and Outlook

• SMPs show promising economic growth, with 72% of firms maintaining or growing the previous year’s practice fee revenues (31% reported that practice fee revenues stayed the same, 37% reported a moderate increase, and 4% reported a substantial increase).
• Australia/Oceania (63%), North America (56%), and Africa (55%) ranked as the top three regions reporting moderate to substantial growth in practice fee revenues.
• Tax (48%) and advisory/consulting services (50%) were projected to be the two biggest sources of revenue growth for the year ahead. (Percentages represent respondents rating these services as “increase moderately” or “increase substantially.”)

“It is encouraging to see SMPs maintaining or growing their revenues as they are a crucial part of the global economy,” said SMP Committee Chair Giancarlo Attolini. “With solid performance this past year, and optimism regarding revenue growth in the coming year, SMPs reflect the current state of the global economy and the spectrum of opportunities for small businesses.”

The year-end 2014 survey, which is being undertaken in collaboration with lead researchers from the University of Dayton in the US, received 5,083 responses from 135 countries, and was conducted in 21 languages. For full results of the IFAC Global SMP Survey, expected in March 2015, please visit and subscribe to SMP updates from: www.ifac.org/SMP. Due to different response rates in different geographic areas, results may not be statistically representative of global or regional populations of SMPs. IFAC wishes to thank the many member and regional organizations that helped with translation and distribution of the survey.

About the SMP Committee
The SMP Committee of the International Federation of Accountants (IFAC) represents the interests of professional accountants operating in small- and medium-sized practices (SMPs). The committee develops guidance and tools and works to ensure the needs of the SMPs are considered by standard setters, regulators, and policy makers. The committee also speaks out on behalf of SMPs to raise awareness of their role and value, especially in supporting SMEs, and the importance of the small business sector overall.

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. It is comprised of more than 175 members and associates in 130 countries and jurisdictions, representing approximately 2.5 million accountants in public practice, education, government service, industry, and commerce.

The Call for Nominations for the IFAC Board and Committees in 2016 was issued today by the International Federation of Accountants^® (IFAC^®), the global organization for the accountancy profession with more than 175 members and associates in 130 countries. The Call for Nominations sets out the upcoming opportunities for membership on the IFAC Board, its Compliance Advisory Panel, and four committees—Professional Accountancy Organization Development, Professional Accountants in Business, Small and Medium Practices, and Nominating.

For 2016, there are 31 vacancies on the Board and committees, including the chair of the Compliance Advisory Panel. All vacancies on the Board and committees are open for nominations by IFAC members.

“IFAC attracts extremely qualified individuals with wide-ranging expertise to serve on its Board and committees,” said IFAC President Olivia Kirtley. “The expertise and authority these volunteers bring with them are critical to IFAC and achieving our strategic goals. We thank all our members for their continued support and look forward to receiving their nominations.”

The Nominating Committee encourages all IFAC members to review the Call for Nominations, including the detailed information regarding open vacancies, composition targets, specific membership qualifications, and requirements. The Call also offers strategic guidance in selecting candidates, including identifying the most qualified nominee for each available position.

Nominations can be submitted through the Nominations Database (instructions are included in the Call for Nominations). All nominations should be submitted before March 15, 2015; any submitted after March 15, 2015 will be reviewed at the discretion of the Nominating Committee. Additional information on the Nominating Committee and its open, transparent process is available on the Nominating Committee web page.

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. It is comprised of more than 175 members and associates in 130 countries and jurisdictions, representing approximately 2.5 million accountants in public practice, education, government service, industry, and commerce.

The International Auditing and Assurance Standards Board^® (IAASB^®) today released its new and revised Auditor Reporting Standards, designed to significantly enhance auditor’s reports for investors and other users of financial statements.

"These changes will reinvigorate the audit, as auditors substantively change their behavior and how they communicate about their work," explained Prof. Arnold Schilder, IAASB Chairman. “Informed by extensive research and global outreach to investors, regulators, audit oversight bodies, national standard setters, auditors, preparers of financial statements, audit committee members, and others, the final International Standards on Auditing (ISAs) represent a momentous—and unprecedented—first step. Now, we must study, promote, and plan for the effective implementation of the new and revised standards.”

"The IAASB has responded to calls from investors and others that it is in the public interest for an auditor to provide greater transparency about the audit that was performed," added Dan Montgomery, former IAASB Deputy Chair and Chair of the Auditor Reporting project. "Increasing the communicative value of the auditor’s report is critical to the perceived value of the financial statement audit."

The most notable enhancement is the new requirement for auditors of listed entities’ financial statements to communicate "Key Audit Matters"—those matters that the auditor views as most significant, with an explanation of how they were addressed in the audit. The IAASB has also taken steps to increase the auditor’s focus on going concern matters, including disclosures in the financial statements, and add more transparency in the auditor’s report about the auditor’s work. Information about the enhancements to auditor reporting and the ISAs that are affected can be found in the Auditor Reporting Fact Sheet.

"The introduction of Key Audit Matters for listed entities is a significant enhancement that will change not only the auditor's report, but more broadly the quality of financial reporting—and therefore the informative value to investors and other key stakeholders," said Linda de Beer, IAASB Consultative Advisory Group (CAG) Chair.  "The IAASB CAG, with its diverse membership base, has unanimously supported and encouraged the IAASB’s formidable leadership in effecting these changes."

The new and revised Auditor Reporting standards will be effective for audits of financial statements for periods ending on or after December 15, 2016. "While culminating an intense effort over the past six years, the release of the final standards is by no means the end of the IAASB’s work on the topic of auditor reporting," noted Kathleen Healy, IAASB Technical Director. "It is essential that the board and staff continue to promote awareness of these standards and facilitate their effective implementation."

To this end, the auditor reporting section of the IAASB’s website has been redesigned and updated, debuting the first components of an "Auditor Reporting Toolkit." Additional resources will be subsequently released, so users should visit the website frequently to stay abreast of the latest guidance and resource materials. The IAASB also plans to undertake a post-implementation review, which will be critical in assessing whether the standards are achieving their intended effects and whether further changes to auditor reporting are needed in the public interest.

About the IAASB
The 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 the International Federation of Accountants (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 2.5 million accountants in public practice, education, government service, industry, and commerce.

The Call for Nominations for the Independent Standard-Setting Boards in 2016 was issued today, seeking highly-qualified individuals to serve as volunteer members for three-year terms beginning January 1, 2016. The Call for Nominations includes the International Auditing and Assurance Standards Board^® (IAASB^®), International Accounting Education Standards Board^™ (IAESB^™), International Ethics Standards Board for Accountants^® (IESBA^®), and International Public Sector Accounting Standards Board^® (IPSASB^®).

For 2016, there are 25 vacancies on the independent standard-setting boards, including the chair of the IPSASB, for which a separate Call for Applications was issued in December with a deadline of February 6. All vacancies on the boards are open for nominations by all stakeholders, including professional accountancy and international organizations, government agencies, regulators, firms, and the public. Nominations of non-accountants for the public member vacancies are strongly encouraged.

The most suitable candidates are those who are most likely to enhance the quality of the boards’ output. Factors taken into consideration include experience, a robust understanding of the international issues that affect the work of the specific board, technical skills, and knowledge of the board’s strategic objectives and current work plan. Candidates also must be proficient in English and able to commit the required time. Financial support for travel is available for those who qualify, as well as for public members.

Nominations can be submitted through the Nominations Database (instructions are included in the Call for Nominations). All applications should be submitted before March 15, 2015. Any nominations submitted after March 15, 2015 will be reviewed at the discretion of the Nominating Committee. Additional information on the Nominating Committee and its open, transparent process is available on the Nominating Committee web page.

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 the IAESB
The International Accounting Education Standards Board (IAESB) develops education standards, guidance, and information papers for use by IFAC member bodies under a shared standard-setting process involving the Public Interest Oversight Board, which oversees the activities of the IAESB, and the IAESB 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 IAESB are facilitated by IFAC.

About the IESBA
The International Ethics Standards Board for Accountants (IESBA) develops ethics standards and other pronouncements for professional accountants worldwide under a shared standard-setting process involving the Public Interest Oversight Board, which oversees the activities of the IESBA, and the IESBA Consultative Advisory Group, which provides public interest input into the development of the standards and other pronouncements. The structures and processes that support the operation of the IESBA are facilitated by IFAC. Please visit www.ethicsboard.org for more information, and follow us on Twitter @Ethics_Board.

About the IPSASB
The International Public Sector Accounting Standards Board (IPSASB) develops accounting standards and guidance for use by public sector entities. It receives support (both direct financial and in-kind) from the World Bank, the Asian Development Bank, the Chartered Professional Accountants of Canada, the South African Accounting Standards Board, and the governments of Canada, New Zealand, and Switzerland. The structures and processes that support the operations of the IPSASB 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. It is comprised of more than 175 members and associates in 130 countries and jurisdictions, representing approximately 2.5 million accountants in public practice, education, government service, industry, and commerce.

La Federación Internacional de Contadores^® (IFAC^®) -la organización global para la profesión contable, dedicada a servir el interés público- ha emitido ocho recomendaciones para apoyar el crecimiento económico y la resiliencia global, para su consideración en la próxima Cumbre de los Líderes del G-20 en Brisbane, Australia, en noviembre 15-16.

Las ocho recomendaciones de la IFAC para permitir lograr un crecimiento sólido, sostenible y equilibrado, se enfocan en tres temas centrales:

• La consistencia global para estándares y regulación financieros para informes y auditoría;
• Gestión financiera, informes, transparencia y responsabilidad gubernamental mejorados; y
• Sistemas fiscales efectivos.

Fayez Choudhury, director ejecutivo de la IFAC, comentó: "La IFAC entiende que para apoyar realmente el crecimiento económico global, la estabilidad y la resiliencia a largo plazo, los gobiernos y el sector privado deben primero 'tener las cifras correctas.' Nuestras recomendaciones detalladas tienen como objetivo recobrar el impulso hacia una regulación y adopción consistente de los estándares y requerimientos de información financiera internacional, auditoría e independencia del auditor de alta calidad, mejorando la transparencia del sector público y privado y reduciendo la opacidad tributaria. 

"Hemos evidenciado demasiadas veces a lo largo de la historia cómo cifras erróneas, y las decisiones que impactan, pueden desatar la estabilidad económica global. La crisis financiera más reciente generó mucho interés global en la atención a prestar por fin a la necesidad de una regulación internacionalmente consistente y apropiada que permita evitar crisis futuras. El impulso se ha disipado y necesitamos recobrarlo. La acción gubernamental unilateral está creando una mayor divergencia, lo que no presenta buen augurio frente a la respuesta global coordinada a la próxima crisis.”

"De ser adoptadas, nuestras recomendaciones servirían el interés público al presentar la integridad -en el reconocimiento, la medición, el procesamiento y el reporte de transacciones financieras- como el fundamento de las cifras en las cuales confían los decisores para mantener el rendimiento económico y la cohesión social.”

"Las habilidades y la experiencia de la profesión contable son esenciales para potenciar la estabilidad económica, fortalecer los sistemas financieros y la arquitectura, y promover la responsabilidad y la sostenibilidad y crecimiento a largo plazo. Hemos propuesto a los líderes del G-20, ocho recomendaciones efectivas y prácticas que se enfocan en proteger y servir al interés público global. De ser adoptadas, estas recomendaciones mejorarían significativamente la estabilidad económica global," comentó.

Acerca de IFAC
IFAC es la organización global para la profesión contable, dedicada a servir el interés público a través del fortalecimiento de la profesión y contribuir en el desarrollo de economías internacionales sólidas. La IFAC se compone de 179 miembros y asociados en 130 países y territorios, representando aproximadamente a 2,5 millones de contadores en la práctica pública, la educación, el gobierno, la industria y el comercio.

El Consejo de Normas Internacionales de Contabilidad para el Sector Público^® (IPSASB^®) ha aprobado su Marco Conceptual para Estados Financieros con Propósito General de Entidades del Sector Público (el Marco Conceptual).

El Marco Conceptual establece los conceptos que orientarán el enfoque del IPSASB frente a la definición de estándares y guías. Abarca conceptos aplicables a los estados financieros del sector público y una serie más amplia de necesidades en términos de informes financieros del sector público. El Marco Conceptual identifica y responde a características claves del sector público, particularmente que el propósito principal de la mayoría de los gobiernos y las entidades del sector público es proporcionar servicios a ciudadanos y demás. Por ende, el propósito de los informes financieros en el sector público es ofrecer información útil a receptores de servicios y proveedores de recursos.

"La aprobación del Marco Conceptual es un logro histórico para el IPSASB y un punto de referencia para la definición de estándares globales de contabilidad para el sector público," comentó Andreas Bergmann, presidente del IPSASB. "Estos conceptos proporcionarán la base para nuestro desarrollo continuo de Estándares Internacionales de Contabilidad para el Sector Público™ (IPSASs™) consistentes e útiles y Directrices de Práctica Recomendadas. Ofrecerán igualmente una guía para los preparadores que se enfrentan a problemas en los informes financieros que no hayan sido abarcados por los IPSAS o las Directrices de Práctica Recomendadas.

Se espera que el Marco Conceptual completo sea emitido a finales de octubre 2014. Los últimos cuatro capítulos fueron aprobados por el IPSASB durante su junta de septiembre. Esos cuatro capítulos, que abarcan la definición, el reconocimiento y la medición de los “elementos” (o cimientos) de los estados financieros y la presentación en los Estados Financieros con Propósito General, se unen a los cuatro capítulos originales, los cuales fueron emitidos a inicios de 2013, dejando el Marco Conceptual con un total de ocho capítulos. El proceso de desarrollo incluyó ocho consultas públicas con la delegación global del IPSASB.

El proyecto del Marco Conceptual ha sido la prioridad estratégica clave para el IPSASB en años recientes. Su finalización exitosa permite al IPSASB enfocarse en proyectos que serán identificados a través de su consulta pública sobre la estrategia para 2015 en adelante y el programa de trabajo para 2015-2019, junto con proyectos que ya han sido iniciados, incluyendo beneficios sociales. El Marco Conceptual ofrecerá una base sólida para futuras definiciones de estándares del IPSASB. El IPSASB continuará trabajando en el interés público, respondiendo a las necesidades en términos de informes financieros globales de los gobiernos y demás entidades del sector público, como sea apropiado.

Acerca del IPSASB
El IPSASB desarrolla normas contables y guías para uso de las entidades del sector público.  El IPSASB recibe el apoyo (tanto financiero como en especie) del Banco Mundial, el Banco Asiático de Desarrollo, los Contadores Profesionales Certificados de Canadá, el Consejo Sudafricano de Normas Contables, y los gobiernos de Canadá, Nueva Zelanda y Suiza. Las estructuras y los procesos que soportan las operaciones del IPSASB son facilitados por la IFAC.

Acerca de IFAC^®
IFAC es la organización global para la profesión contable, dedicada a servir el interés público a través del fortalecimiento de la profesión y contribuir en el desarrollo de economías internacionales sólidas. La IFAC se compone de 179 miembros y asociados en 130 países y territorios, representando aproximadamente a 2,5 millones de contadores en la práctica pública, la educación, el gobierno, la industria y el comercio.