The Quality Management webinar series, hosted by the IAASB in collaboration with IFAC, takes a deep dive into aspects of the IAASB’s International Standard on Quality Management 1, Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements.
The webinar series focused on:
Webinar One: All You Need to Know about the Firm’s Risk Assessment Process
Webinar Two: Resources: Expectations for Firms and Engagement Partners
Webinar Three: What’s New for Firms’ Monitoring and Remediation Processes (coming August 5, 2021 – register now)
Webinar Four: Bringing it All Together: Exploring all the Components of a Quality Management System (coming August 18, 2021 – register now)
ISQM 1 is part of the IAASB’s suite of quality management standards. Firms are required to have systems of quality management designed and implemented in accordance with ISQM 1 by December 15, 2022. Learn more about the quality management standards at: iaasb.org/quality-management
The Quality Management webinar series, hosted by the IAASB in collaboration with IFAC, takes a deep dive into aspects of the IAASB’s International Standard on Quality Management 1, Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements.
The webinar series focused on:
Webinar One: All You Need to Know about the Firm’s Risk Assessment Process
Webinar Two: Resources: Expectations for Firms and Engagement Partners
Webinar Three: What’s New for Firms’ Monitoring and Remediation Processes
Webinar Four: Bringing it All Together: Exploring all the Components of a Quality Management System
ISQM 1 is part of the IAASB’s suite of quality management standards. Firms are required to have systems of quality management designed and implemented in accordance with ISQM 1 by December 15, 2022. Learn more about the quality management standards at: iaasb.org/quality-management
The Quality Management webinar series, hosted by the IAASB in collaboration with IFAC, takes a deep dive into aspects of the IAASB’s International Standard on Quality Management 1, Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements.
The webinar series focuses on:
• Webinar One: All You Need to Know about the Firm’s Risk Assessment Process
• Webinar Two: Resources: Expectations for Firms and Engagement Partners
• Webinar Three: What’s New for Firms’ Monitoring and Remediation Processes (coming August 5, 2021 – register at iaasb.org)
• Webinar Four: Bringing it All Together: Exploring all the Components of a Quality Management System (coming August 18, 2021 – register at iaasb.org)
ISQM 1 is part of the IAASB’s suite of quality management standards. Firms are required to have systems of quality management designed and implemented in accordance with ISQM 1 by December 15, 2022. Learn more about the quality management standards at: iaasb.org/quality-management
View the slides for the introduction to the International Auditing and Assurance Standards Board's recently proposed quality management standards. In this first in a multi-part webcast series, IAASB member Karin French provides a deep dive into a firm's risk assessment process. Video available at www.iaasb.org/quality-management
The quality management standards are currently open for public consultation until July 1, 2019.
View the slides for the introduction to the International Auditing and Assurance Standards Board's recently proposed quality management standards. In this webcast, IAASB members and Task force chairs, Imran Vanker and Lyn Provost discuss the proposed ISQM 2, Engagement Quality Reviews, and ISA 220 (Revised), Quality Management for an Audit of Financial Statements. Video available at www.iaasb.org/quality-management
The quality management standards are currently open for public consultation until July 1, 2019.
The Quality Management webinar series, hosted by the IAASB in collaboration with IFAC, takes a deep dive into aspects of the IAASB’s International Standard on Quality Management 1, Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements.
The webinar series focused on:
Webinar One: All You Need to Know about the Firm’s Risk Assessment Process
Webinar Two: Resources: Expectations for Firms and Engagement Partners
Webinar Three: What’s New for Firms’ Monitoring and Remediation Processes (coming August 5, 2021 – register now)
Webinar Four: Bringing it All Together: Exploring all the Components of a Quality Management System (coming August 18, 2021 – register now)
ISQM 1 is part of the IAASB’s suite of quality management standards. Firms are required to have systems of quality management designed and implemented in accordance with ISQM 1 by December 15, 2022. Learn more about the quality management standards at: iaasb.org/quality-management
View slides from the introductory webcast series by the International Auditing and Assurance Standards Board on its recently proposed quality management standards. In this webcast, IAASB Member, Karin French discusses the various components of quality management in proposed ISQM 1, which addresses quality management at the firm level.
The quality management standards are currently open for public consultation until July 1, 2019.
For more information, visit iaasb.org/quality-management
The Quality Management webinar series, hosted by the IAASB in collaboration with IFAC, takes a deep dive into aspects of the IAASB’s International Standard on Quality Management 1, Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements.
The webinar series focused on:
Webinar One: All You Need to Know about the Firm’s Risk Assessment Process
Webinar Two: Resources: Expectations for Firms and Engagement Partners
Webinar Three: What’s New for Firms’ Monitoring and Remediation Processes (coming August 5, 2021 – register now)
Webinar Four: Bringing it All Together: Exploring all the Components of a Quality Management System (coming August 18, 2021 – register now)
ISQM 1 is part of the IAASB’s suite of quality management standards. Firms are required to have systems of quality management designed and implemented in accordance with ISQM 1 by December 15, 2022. Learn more about the quality management standards at: iaasb.org/quality-management
The Quality Management webinar series, hosted by the IAASB in collaboration with IFAC, takes a deep dive into aspects of the IAASB’s International Standard on Quality Management 1, Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements.
The webinar series focused on:
Webinar One: All You Need to Know about the Firm’s Risk Assessment Process
Webinar Two: Resources: Expectations for Firms and Engagement Partners
Webinar Three: What’s New for Firms’ Monitoring and Remediation Processes
Webinar Four: Bringing it All Together: Exploring all the Components of a Quality Management System
ISQM 1 is part of the IAASB’s suite of quality management standards. Firms are required to have systems of quality management designed and implemented in accordance with ISQM 1 by December 15, 2022. Learn more about the quality management standards at: iaasb.org/quality-management
The Quality Management webinar series, hosted by the IAASB in collaboration with IFAC, takes a deep dive into aspects of the IAASB’s International Standard on Quality Management 1, Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements.
The webinar series focuses on:
• Webinar One: All You Need to Know about the Firm’s Risk Assessment Process
• Webinar Two: Resources: Expectations for Firms and Engagement Partners
• Webinar Three: What’s New for Firms’ Monitoring and Remediation Processes (coming August 5, 2021 – register at iaasb.org)
• Webinar Four: Bringing it All Together: Exploring all the Components of a Quality Management System (coming August 18, 2021 – register at iaasb.org)
ISQM 1 is part of the IAASB’s suite of quality management standards. Firms are required to have systems of quality management designed and implemented in accordance with ISQM 1 by December 15, 2022. Learn more about the quality management standards at: iaasb.org/quality-management
View the slides for the introduction to the International Auditing and Assurance Standards Board's recently proposed quality management standards. In this first in a multi-part webcast series, IAASB member Karin French provides a deep dive into a firm's risk assessment process. Video available at www.iaasb.org/quality-management
The quality management standards are currently open for public consultation until July 1, 2019.
View the slides for the introduction to the International Auditing and Assurance Standards Board's recently proposed quality management standards. In this webcast, IAASB members and Task force chairs, Imran Vanker and Lyn Provost discuss the proposed ISQM 2, Engagement Quality Reviews, and ISA 220 (Revised), Quality Management for an Audit of Financial Statements. Video available at www.iaasb.org/quality-management
The quality management standards are currently open for public consultation until July 1, 2019.
The Quality Management webinar series, hosted by the IAASB in collaboration with IFAC, takes a deep dive into aspects of the IAASB’s International Standard on Quality Management 1, Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements.
The webinar series focused on:
Webinar One: All You Need to Know about the Firm’s Risk Assessment Process
Webinar Two: Resources: Expectations for Firms and Engagement Partners
Webinar Three: What’s New for Firms’ Monitoring and Remediation Processes (coming August 5, 2021 – register now)
Webinar Four: Bringing it All Together: Exploring all the Components of a Quality Management System (coming August 18, 2021 – register now)
ISQM 1 is part of the IAASB’s suite of quality management standards. Firms are required to have systems of quality management designed and implemented in accordance with ISQM 1 by December 15, 2022. Learn more about the quality management standards at: iaasb.org/quality-management
View slides from the introductory webcast series by the International Auditing and Assurance Standards Board on its recently proposed quality management standards. In this webcast, IAASB Member, Karin French discusses the various components of quality management in proposed ISQM 1, which addresses quality management at the firm level.
The quality management standards are currently open for public consultation until July 1, 2019.
For more information, visit iaasb.org/quality-management
Eliminate Turbulence Between IT and the Business with Business Value DashboardsTeamQuest Corporation
Learn how to communicate IT’s value to business stakeholders. Gain an understanding of business value metrics (BVM) and how to leverage BVMs to translate operational data into business-driving information. Discover how to use Business Value Dashboards (BVD) to add context, algorithms, and business dimensions to IT data. Learn best practices for managing your BVD to align with the business long-term. Give executives the answers they need – clearly displayed, anytime, anywhere – to drive results.
An orientation slide deck on the IFAC SMP Committee's Guide to Quality Control for SMPs (QC Guide) that member bodies may use in training and orientation seminars to introduce staff and members to the QC Guide.
Listen to Prof. Roger Simnett, IAASB member and Audits of Less Complex Entities Working Group Chair, discuss the challenges and possible actions that the IAASB is exploring in its current Consultation Paper, which is open for public comment until September 12, 2019.
Listeners and stakeholders are also encouraged to share their thinking with the IAASB on less complex entities through IFAC's survey on issues relating to audits of less complex entities.
19600 compliance management system guidelinesNimonik
Most organizations have a siloed approach to compliance with environmental, safety, quality, community engagement and other departments managing their compliance issues separately. Increasing fines, penalties and criminal proceedings for non-compliance are driving organizations around the world to change their approach to compliance management. ISO recently introduced a unified compliance management system, 19600. This standard has not yet been widely adopted, but there is a clear trend to try and centralize compliance obligations.
In this webinar, we discuss the best practices and guidelines for compliance management as described in the standard.
You will learn:
- the 7 elements that make up an effective compliance management system - Context of the organization, Leadership, Planning, Support, Operations, Performance Evaluation and Improvement
- In-depth details of each of the 7 elements
- Examples of how you can apply the recommendations at your organization
Presenter - Jonathan Brun, CEO Nimonik
Audit update
Slides from a webinar to the Federation of Awarding Bodies on Monday 27 April 2015
Webinar hosted by Bryan Horne
Associate Director Standards for Vocational Qualifications and Apprenticeships
Presentation to the Austin ISACA Chapter on best practices in the art of organizational change. Focused on COBIT BAI05 - Organizational Change Enablement - March 1, 2016
How to Determine the Root Cause Analysis Techniques in a Management System?PECB
The understanding of these techniques and their effective implementation by the auditee (Process owner) in any Management system audit shall go along way to ensure that the problem does not recur and this improves the customer or stakeholder confidence, ensure safety of personnel and saves the organization money.
Main points covered:
• What is the Root Cause Analysis Technique?
• How to Ensure customers and stakeholder confidence
• Why is important to determine the Root Cause Analysis?
Presenter:
This webinar was presented by Eng. Isaac Mbuvi is an Electrical and communications Engineer. A holder of Master’s Degree in Occupational Safety and Health. He is an Environmental consultant, a certified trainer with PECB for ISO 9001, ISO 14001 and OHSAS 18001 Management systems. He is also a certified Lead Auditor in ISO 9001, ISO 14001 and OHSAS 18001.
He has worked in the Oil and Gas industry for the last 14 years and has built his career in the Management systems as an Lead Auditor, Auditor and auditee for more than seven years in various sectors such as Pipeline transport, Health, Construction, Marine, Energy, etc.
Link of the recorded webinar published on YouTube: https://youtu.be/DBljEiv9tAw
Presentation given by Szymon Radziszewicz, IFAC Senior Technical Manager, during a seminar on the IFAC and the accountancy profession at the Philippines Institute of Certified Public Accountants.
Eliminate Turbulence Between IT and the Business with Business Value DashboardsTeamQuest Corporation
Learn how to communicate IT’s value to business stakeholders. Gain an understanding of business value metrics (BVM) and how to leverage BVMs to translate operational data into business-driving information. Discover how to use Business Value Dashboards (BVD) to add context, algorithms, and business dimensions to IT data. Learn best practices for managing your BVD to align with the business long-term. Give executives the answers they need – clearly displayed, anytime, anywhere – to drive results.
An orientation slide deck on the IFAC SMP Committee's Guide to Quality Control for SMPs (QC Guide) that member bodies may use in training and orientation seminars to introduce staff and members to the QC Guide.
Listen to Prof. Roger Simnett, IAASB member and Audits of Less Complex Entities Working Group Chair, discuss the challenges and possible actions that the IAASB is exploring in its current Consultation Paper, which is open for public comment until September 12, 2019.
Listeners and stakeholders are also encouraged to share their thinking with the IAASB on less complex entities through IFAC's survey on issues relating to audits of less complex entities.
19600 compliance management system guidelinesNimonik
Most organizations have a siloed approach to compliance with environmental, safety, quality, community engagement and other departments managing their compliance issues separately. Increasing fines, penalties and criminal proceedings for non-compliance are driving organizations around the world to change their approach to compliance management. ISO recently introduced a unified compliance management system, 19600. This standard has not yet been widely adopted, but there is a clear trend to try and centralize compliance obligations.
In this webinar, we discuss the best practices and guidelines for compliance management as described in the standard.
You will learn:
- the 7 elements that make up an effective compliance management system - Context of the organization, Leadership, Planning, Support, Operations, Performance Evaluation and Improvement
- In-depth details of each of the 7 elements
- Examples of how you can apply the recommendations at your organization
Presenter - Jonathan Brun, CEO Nimonik
Audit update
Slides from a webinar to the Federation of Awarding Bodies on Monday 27 April 2015
Webinar hosted by Bryan Horne
Associate Director Standards for Vocational Qualifications and Apprenticeships
Presentation to the Austin ISACA Chapter on best practices in the art of organizational change. Focused on COBIT BAI05 - Organizational Change Enablement - March 1, 2016
How to Determine the Root Cause Analysis Techniques in a Management System?PECB
The understanding of these techniques and their effective implementation by the auditee (Process owner) in any Management system audit shall go along way to ensure that the problem does not recur and this improves the customer or stakeholder confidence, ensure safety of personnel and saves the organization money.
Main points covered:
• What is the Root Cause Analysis Technique?
• How to Ensure customers and stakeholder confidence
• Why is important to determine the Root Cause Analysis?
Presenter:
This webinar was presented by Eng. Isaac Mbuvi is an Electrical and communications Engineer. A holder of Master’s Degree in Occupational Safety and Health. He is an Environmental consultant, a certified trainer with PECB for ISO 9001, ISO 14001 and OHSAS 18001 Management systems. He is also a certified Lead Auditor in ISO 9001, ISO 14001 and OHSAS 18001.
He has worked in the Oil and Gas industry for the last 14 years and has built his career in the Management systems as an Lead Auditor, Auditor and auditee for more than seven years in various sectors such as Pipeline transport, Health, Construction, Marine, Energy, etc.
Link of the recorded webinar published on YouTube: https://youtu.be/DBljEiv9tAw
Presentation given by Szymon Radziszewicz, IFAC Senior Technical Manager, during a seminar on the IFAC and the accountancy profession at the Philippines Institute of Certified Public Accountants.
Presentation by Szymon Radziszewicz, IFAC Senior Technical Manager, outlining some of the tools available to professional accountancy organizations (PAOs) to assist them in development, growth, and compliance with IFAC Statements of Membership Obligations.
Presentation give by IFAC Senior Technical Manager Szymon Radziszewicz at the World Bank's Fiduciary Forum in May 2012 on the importance and role IFAC's Statements of Membership Obligations (SMOs) play in helping professional accountancy organizations around the world encourage and support high-quality financial information and inclusive and sustainable economic growth.
Presentation given by Szymon Radziszewicz, Senior Technical Manager for the International Federation of Accountants, on the need for a balanced approach to regulation of the accountancy profession and how the accountancy profession contributes to economic stability and growth, at the 6th Cross-Border Meeting In Moldova in June 2012.
Presentation by Vincent Tophoff, IFAC Senior Technical Manager at the INTOSAI Subcommittee on Internal Control Standards Annual Meeting, May 27-28, 2014
Presentation by Amarjit Chopra, member of the IFAC Professional Accountancy Organization (PAO) Development Committee, on how the committee supports the development and growth of PAOs around the world, and how these PAOs lead to stronger more stable financial systems around the world.
Presentation given by Paul Thompson, Deputy Director, SME and SMP Affairs, IFAC, at the Malaysian Institute of Accountants Conference, Auditing Micro-Entities Efficiently and Effectively, March 23, 2012, Kuala Lumpur.
Presentation by International Federation of Accountants Deputy Director of SME and SMP Affairs to the ACCA's SMP Roundtable in Singapore, November 2010.
Experts from the International Auditing and Assurance Standards Board (IAASB), the European Commission (EC), the Committee of European Audit Oversight Bodies (CEAOB), assurance service providers, investors and the business community met to discuss the regulatory, policy and standard-setting path toward high-quality sustainability assurance.
Affordable Stationery Printing Services in Jaipur | Navpack n PrintNavpack & Print
Looking for professional printing services in Jaipur? Navpack n Print offers high-quality and affordable stationery printing for all your business needs. Stand out with custom stationery designs and fast turnaround times. Contact us today for a quote!
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
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Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
Discover the innovative and creative projects that highlight my journey throu...
Mentoring: The IFAC Perspective
1. The IFAC Perspective
Russell Guthrie
Executive Director, Quality and
Member Relations, IFAC
Mentoring Insights – The Mentor
Perspective
Dubai, UAE
February 17th 2012
Page 1 | Confidential and Proprietary Information
2. Why are PAOs important?
Page 2 | Confidential and Proprietary Information
3. Important to the Profession
• Act in the public interest
• Develop and produce competent accountancy
professionals
• Promote strong professional and ethical standards
• Act as a resource to government, regulators, donors,
mentors, and regional and international organizations
• Further the quality of financial reporting
Page 3 | Confidential and Proprietary Information
4. Important to the Economy
• Attract Foreign Direct Investment (FDI)
• Promote growth and development of the Small- and
Medium-sized entities (SME) sector
• Enhance transparency and accountability in the use of
public funds
• Improve the design and delivery of vital public services
Page 4 | Confidential and Proprietary Information
5. What is IFAC’s role?
Page 5 | Confidential and Proprietary Information
6. IFAC’s Mission
To serve the public interest by:
• Contributing to the development, adoption and
implementation of high-quality international standards and
guidance;
• Contributing to the development of strong professional
accountancy organizations (PAOs) and accounting
firms, and to high-quality practices by professional
accountants;
• Promoting the value of professional accountants worldwide;
and
• Speaking out on public interest issues where the
accountancy profession’s expertise is most relevant.
Page 6 | Confidential and Proprietary Information
7. IFAC’s Mission
To serve the public interest by:
• Contributing to the development, adoption and
implementation of high-quality international standards and
guidance;
• Contributing to the development of strong professional
accountancy organizations (PAOs) and accounting
firms, and to high-quality practices by professional
accountants;
• Promoting the value of professional accountants worldwide;
and
• Speaking out on public interest issues where the
accountancy profession’s expertise is most relevant.
Page 7 | Confidential and Proprietary Information
8. Member Body Development
CAP/ PAO
Compliance Development
Program Committee
Member Body
Development
Team
Page 8 | Confidential and Proprietary Information
9. Member Body Development Team
• Russell Guthrie – Development/PAODC
• Sylvia Tsen – Quality/CAP
• Szymon Radziszewicz – Team Leader
• Thomas Zimmerman/Darlene Nzorubara – West Europe
and Africa
• Joseph Bryson – Latin America and Caribbean
• Daria Koukhar – North/Cent/East Europe and Central Asia
• Gabriella Kusz – Southern Europe and Middle East
• Marta Russell – Asia - Pacific
Page 9 | Confidential and Proprietary Information
10. Compliance Program
Self -Assessment
Overview of national
Benchmarking against the 7
regulatory and standard-
SMOs
setting framework
Action Plan
Strategic document illustrating a PAOs progress toward, or
continued compliance with, SMO requirements
Page 10 | Confidential and Proprietary Information
11. A Focus on PAO Development
PAO Development Committee
• Develop the capacity of the accountancy profession
– Outreach to existing and potential IFAC Member Bodies
– PAO workshops focusing on capacity building and SMOs
• Increase awareness building and knowledge sharing
– Mentoring Program
– Participation in regional events and alignment with regional bodies
• Engage and deepening development partnerships
– MOSAIC (Memorandum of understanding to Strengthen Accountancy and
Improve Collaboration)
Page 11 | Confidential and Proprietary Information
12. MOSAIC
• Improving co-operation between IFAC and the
international donor community, increasing the capacity of
PAOs and improving the quality of financial management
systems
• Signed at the OECD Fourth High Level Forum on Aid
Effectiveness in Busan, Korea in November 2011
• Inaugural Steering Committee Meeting to be held in
Jaipur, India in February 2012
Page 12 | Confidential and Proprietary Information
13. What have we accomplished
globally?
Page 13 | Confidential and Proprietary Information
14. Where we are today
• Established technical architecture for PAOs
– SMOs
– Action Plans
• Clear strategic commitment to development of the
profession
– PAODC
• Engagement with Donor Community
– MOSAIC
Page 14 | Confidential and Proprietary Information
15. What can IFAC do well?
Page 15 | Confidential and Proprietary Information
16. IFAC Strengths
• Establishing and maintaining a global strategic and policy
framework
• Convening stakeholders
• Making strategic decisions for maximum impact
– Meeting locations
– Provide speakers for RO/AG/MB events
• Communications, global guidance and tools
Page 16 | Confidential and Proprietary Information
17. What must be accomplished
locally?
Page 17 | Confidential and Proprietary Information
18. Key Considerations in PAO Development
• Legislation: Legal recognition/structure
• Regulation of the Profession: Relationship with
government
• Governance: Organizational structure
• Committees: Key areas of function/activity
• Management: Professional staff
• Financing: Funding operations and activities
• Marketing/Promotion: Raising awareness and defining
value statement
Page 18 | Confidential and Proprietary Information
19. IFAC Membership Process – Lessons Learned
• Pre-existing mentoring arrangement can improve the quality
of the application and the sponsor’s due diligence report.
• A relationship with IFAC should be formed early.
• Ensure complete understanding of the membership
requirements.
– Financial viability where donor funds constitute significant percentage of
income
– Evidence commitment to meeting SMOs wherever ultimate responsibility lies
– Ensure legal “building blocks” are in place
• Considerable progress must be shown to move from
Associate to Member.
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20. Challenges for IFAC/RO/AG/MB
• Capacity – this is a challenge for all our organizations but
involvement of MBs and RO/AGs is critical
– PAO Expertise
– Ability to act/influence locally in a sustained manner
• Unity – as we deepen engagement through MOSAIC can
we deliver coherent regional and national strategies?
• Coordination – communication and consultation will be
essential for our collective success
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21. Thank You
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Editor's Notes
They contribute to the professionProtect the public interest as proponents of good corporate governance and consistent global standardsPromote and develop knowledge, skills and competence througheducation, certification and CPD programs. Produce capable professionals.Through adoption and implementation of international professional and ethical standards they set the bar for behavior and practice of accountancyprofessionals, enhancing public trustAssistwithsound public policy guidance and advice on accountancyrelatedtopics by acting as a center of knowledge and expertiseFurther the quality of financialreportingthroughreview, investigation, and discipline of professionals.
They contribute to the economy (the bigger picture)Attract Foreign Direct Investment (FDI) – The development of capital markets requires credible and reliable financial information to build investor confidence, further sound economic and financial management, and increase the attractiveness of a country’s investment climate, which facilitates FDI and business development. Promote Growth and Development of the SME Sector – According to the Organisation for Economic Cooperation and Development (OECD), small- and medium-sized entities (SMEs) account for over 60% of gross domestic product (GDP) and 70% of total employment in low-income countries. These businesses require high-quality financial information to support business planning, facilitate access to credit, and expand operations; thus, enhancing their ability to thrive and grow. Enhance Transparency and Accountability in theUse of Public Funds – High-quality financial information in the public sector enables assessment of the impact of fiscal and monetary policy decisions; assists external reporting by governments to electorates, taxpayers, and investors; and aids internal management decisions in resources allocation (planning and budgeting), monitoring, and accountability. Improve the Design and Delivery of Vital Public Services – Utilizing the information provided through high-quality financial reporting, policymakers and others in positions of authority can improve the efficiency and effectiveness of government programs, better achieve the objectives of their design, and successfully deliver vital public services to those in need.
For our purposes today, the most important bullet point is the second. So how does IFAC contribute to the development of strong PAOs?
For our purposes today, the most important bullet point is the second. So how does IFAC contribute to the development of strong PAOs?
IFAC’s Member Body Development team includesseventechnical staff who are devoted to supportingboth the Compliance Program and PAO DevelopmentCommittee
The staff holdregional portfolios covering Africa, Americas and Caribbean, AsiaAustralasia-Oceania, Middle East; and Europe and Central Asia. Combined, they have proficiency in six languagesincludingArabic, French and Spanish.
I am sure we are all familiarwith the Compliance Program…Program and Compliance Advisory Panel (CAP) launched in 2004 as part of IFAC reforms. PIOB Oversight – Observers at CAP meetings since 2007Established the 7 Statements of Membership Obligations (SMOs) which serve as the Program’s basis and provide benchmarks for PAOsEncourage continuous improvement and developmentEvaluate the extent to which members are meeting the SMO requirementsAssist members in adopting and implementing international standards and best practicesDemonstrate progress being madePromote transparency through publication of responses on the IFAC website. IFAC’s 167 members and associates are required to participate in the Compliance Program to demonstrate that they are maintaining their good standing and addressing the requirements of IFAC membership. Through the Compliance Program IFAC gathers and publishes a great deal of information relating to the work of its member bodies around the world and the developments within national professions. This information can be leveraged by donors, regional bodies, regulators and indeed mentors interested in development of the profession.
The development activities on which IFAC focuses, primarily through the Professional Accountancy Development Committee, all serve to further develop and strengthen existing PAOs. In 2011, in-country advisory and technical assistance was provided to over 100 PAOs (including associates, members and potential members). The MOSAIC MOU between the donor community and IFAC is an historic agreement that underlies the goals and objectives of the PAO Development Committee and works to enhance donor support for the establishment and strengthening of PAOs around the world. This development has significant implications, potentially for all of us here today.
MOSAIC sets forth the basis for improving cooperation and collaboration between IFAC and international donors, as well as the rest of the international development community. MOSAIC will help organizations to align activities, focus on building the capacity of professional accountancy organizations, and achieve mutually beneficial results to create stronger systems of public financial management, higher quality accountancy information, and financial reporting, which is IFAC’s vision.The signing ceremony took place in Busan, Korea in November 2011 at the Fourth High Level Forum on Aid Effectiveness, hosted by the Organization for Economic Co-operation and Development. On February 22, 2012, the MOSAIC inaugural Steering Committee Meeting will be held in Jaipur, India. This meeting will be generously co-hosted by the Institute of Chartered Accountants of India (ICAI) and the Institute of Cost and Works Accountants of India (ICWAI). It is expected that this first meeting will build on MOSAIC’s signing and will create consensus around: the goals and objectives of MOSAIC; establishment of the MOSAIC Steering Committee; establishment of the MOSAIC Secretariat; and the proposed Work Program.In setting out the basis for improving cooperation, the agreement provides the foundations for increasing the capacity of PAOs and improving the quality of financial management systems in emerging and developing economies. It is expected that peer-to-peer relationships, such as PAO mentoring, will play a critical role in its implementation.
So what lessons hasIFAC learned through the membership application process? How might these be useful to existing and potential mentors?We have observed that often the quality of the sponsor’s report, and the depth of their understanding of the applicant, is improved significantly when a mentoring agreement has been in place.Due to the stringent requirements for membership and the need for IFAC to fully appreciate the applicant’s environment, is important that the applicant is in contact with IFAC well before an application is considered. MBD staff are keen to establish relationships with potential applicants.Where foundations are being laid through donor aid, can the PAO evidence not only current funds but its future financial viability?Is there a clear understanding of the PAO’s role in furthering the adoption and implementation of international standards and best practice in the country?Does the PAO have legal backing or can it clearly show its important position in the country’s financial reporting chain? Does it have a public interest justification? Finally, IFAC recommends a 2-3 year gap between Associate and full Member status. However, in practice a 4-5 year timeline is more realistic, and particularly where resources are low. A strong mentor with a clear understanding of the challenges would no doubt accelerate this process.