IFAC welcomes the opportunity to comment on the FATF’s review of Recommendation 24 relating to beneficial ownership transparency. IFAC—and the global accountancy profession that we represent—strongly supports the work of the FATF and others in advancing the fight against money laundering, terrorism financing and the proliferation of weapons of mass destruction.
The IAASB in collaboration with IFAC invite you to join the final webinar in our quality management series, Bringing It All Together: Exploring the Components of the Quality Management System, on August 18 from 11 am–12 pm GMT on Zoom with livestreaming on YouTube. The webinar will address aspects of International Standard on Quality Management 1, including governance and leadership, information, communication and networks.
ISQM 1 is part of the IAASB’s suite of quality management standards, issued in late 2020. The standards strengthen and modernize how firms approach quality management. They also mark an evolution from a traditional, more linear approach for quality controlto an integrated quality managementapproach.
The webinar will be held in English and available on YouTube following the session. Participants joining live via Zoom will be able to submit questions.
Webinar Four: Bringing it All Together: Exploring all the Components of a Quality Management System
This webinar series is part of the IAASB’s implementation support efforts. Looking for additional resources on the suite of quality management standards? Check out the IAASB’s dedicated web page: iaasb.org/quality-management
IFAC is committed to supporting our member organizations and the development, adoption, and implementation of high-quality international standards.
Bringing it all Together: Exploring the Components of the Quality Management System
The IAASB in collaboration with IFAC invite you to join the final webinar in our quality management series, Bringing It All Together: Exploring the Components of the Quality Management System, on August 18 from 11 am–12 pm GMT on Zoom with livestreaming on YouTube. The webinar will address aspects of International Standard on Quality Management 1, including governance and leadership, information, communication, and networks.
ISQM 1 is part of the IAASB’s suite of quality management standards, issued in late 2020. The standards strengthen and modernize how firms approach quality management. They also mark an evolution from a traditional, more linear approach for quality control to an integrated quality management approach.
The webinar will be held in English and available on YouTube following the session. Participants joining live via Zoom will be able to submit questions.
Webinar Four: Bringing it All Together: Exploring all the Components of a Quality Management System
This webinar series is part of the IAASB’s implementation support efforts. Looking for additional resources on the suite of quality management standards? Check out the IAASB’s dedicated web page: iaasb.org/quality-management
Bringing it all Together: Exploring the Components of the Quality Management System
IFAC is dedicating our second annual virtual summit to sustainability and helping professional accountants do different things with the skills and competencies they already have in their toolbox.
In its Strategy and Work Plan 2019-2023 (the Strategy) the International Public Sector Accounting Standards Board® (IPSASB®) committed to hold a public consultation mid-way through the Strategy period on projects that should be added to the Work Program during the remainder of the period, as existing projects were completed. Accordingly, the IPSASB has today released its Mid-Period Work Program Consultation (Consultation).
Within the context of continuing to deliver the Strategy, the Consultation prioritizes projects to be added to the Work Program as the Board and staff resources become available during 2022 and 2023. In view of the resources likely to become available, the Consultation proposes adding two major projects:
Presentation of Financial Statements; and
Differential Reporting.
The Consultation also proposes to add up to four smaller scope projects:
IPSAS 21, Impairment of Non-Cash-Generating Assets;
IPSAS 31, Intangible Assets;
IPSAS 33, First-Time Adoption of Accrual Basis IPSASs; and
Making Materiality Judgements.
“Despite the major challenges of the pandemic, the Biennial Review that we have published today shows that the IPSASB has continued to deliver on its current Strategy, which itself remains relevant. As we complete our current projects the Board is proposing to add a number of new ones based on its views on the current priorities,” said IPSASB Chair Ian Carruthers. “It is essential the IPSASB hears its stakeholders’ views on the proposed projects so that it can best address their needs and priorities as IPSAS usage continues to increase globally.”
How to Comment
To access the Exposure Draft, its summary At-a-Glance document, and the Request for Information or to submit a comment, visit the IPSASB website, www.ipsasb.org. Comments are requested by November 30, 2021. The IPSASB encourages IFAC members, associates, and Network Partners to promote the availability of this Consultation Paper to their members and employees.
About the IPSASB
The International Public Sector Accounting Standards Board (IPSASB) works to strengthen public financial management globally through developing and maintaining accrual-based International Public Sector Accounting Standards® (IPSAS®) and other high-quality financial reporting guidance for use by governments and other public sector entities. It also raises awareness of IPSAS and the benefits of accrual adoption. The Board receives support from the Asian Development Bank, the Chartered Professional Accountants of Canada, the New Zealand External Reporting Board, and the governments of Canada and New Zealand. The structures and processes that support the operations of the IPSASB are facilitated by the International Federation of Accountants (IFAC). For copyright, trademark, and permissions information, please go to permissions or contact permissions@ifac.org.
About the Public Interest Committee
The governance and standard-setting activities of the IPSASB are overseen by the Public Interest Committee (PIC), to ensure that they follow due process and reflect the public interest. The PIC is comprised of individuals with expertise in public sector or financial reporting, and professional engagement in organizations that have an interest in promoting high-quality and internationally comparable financial information.
Stakeholder Comments on Mid-Period Work Program Consultation Sought by November 30, 2021
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.
