Señales positivas indican que la crisis de la deuda soberana se está suavizando. Los gobiernos de Grecia y Portugal han ingresado nuevamente a los mercados de bonos y Portugal está preparado para ser el segundo país de la eurozona -después de Irlanda- en liberarse de sus acuerdos de auxilio financiero.

Así, es oportuno reflexionar sobre lo que se ha hecho desde la introducción de los programas de auxilio financiero y desde que los prestamistas al gobierno griego castigaron pérdidas significativas en sus títulos de deuda. Se implementaron medidas de austeridad y construyeron reservas de efectivo del gobierno, pero aún se requiere mucho para levantar la norma sobre información, transparencia y responsabilidad del gobierno.

No debemos olvidar demasiado rápido las lecciones derivadas de una pobre información en los reportes gubernamentales—la cual era engañosa en algunos casos.

En medio del conflicto permanece una preocupación: las compañías del sector privado que recaudan fondos de los inversores en los mercados de capitales están requeridos a entregar estados financieros auditados y basados en el devengo; sin embargo, demasiados gobiernos—hasta algunos con bonos en los mercados de capitales—no se adhieren a las mismas prácticas. De hecho, muchos ni siquiera utilizan la contabilidad del devengo.

Ya ha trascurrido un año desde que los Ministros de Finanzas y los Gobernadores de los Bancos Centrales del G-20 declararon en la junta de Moscú un "objetivo de fortalecimiento del balance del sector público" y "de revisión de la transparencia y comparabilidad de la información del sector público y monitoreo del impacto de las vulnerabilidades del sector financiero sobre la deuda pública."

Parte esencial de promocionar dicha transparencia y comparabilidad es la información financiera basada en el devengo según estándares de alta calidad globalmente aceptados, como las Normas Internacionales de Contabilidad para el Sector Público (IPSAS).

Como una respuesta al G-20, el Fondo Monetario Internacional (FMI) y el Banco Mundial—junto con la Organización para la Cooperación y el Desarrollo Económicos (OCDE) —han adelantado una revisión del gobierno del Consejo de Normas Internacionales de Contabilidad para el Sector Público (IPSASB). Adicionalmente, la Comisión Europea, a través de Eurostat, inició un trabajo para considerar cómo se puede mejorar la información financiera del sector público dentro de la Unión Europea. Resaltó que las IPSAS "representan una referencia indiscutible para el desarrollo potencial de los estándares europeos."

"La IFAC se siente motivada por varias iniciativas actualmente en curso; en particular, el fortalecimiento de los acuerdos de gobierno actuales del IPSASB potenciará aún más la credibilidad de las IPSAS y su influencia en la información financiera del sector público," sostuvo Fayezul Choudhury, director ejecutivo de la IFAC. "Sin embargo, aún hay mucho por hacer y consideramos que el G-20 desempeña un rol clave garantizando que el impulso se mantenga y que los gobiernos reconozcan los beneficios de las mejoras a la gestión e información financiera—y así finalmente potenciar la transparencia y la responsabilidad."

La IFAC recomienda enfáticamente que, a través del 2014 y próximos años, el G-20 -en particular ministros de finanzas y gobernadores de bancos centrales- continúen enfocándose en este asunto tan crítico. Para promover una mayor adopción de las IPSAS, la IFAC considera que estos estándares deben ser agregados a la lista de estándares del Consejo de Estabilidad Financiera merecedores de una implementación prioritaria.

Además, como parte de su enfoque estratégico clave, la IFAC continuará promoviendo la necesidad de una información y gestión financiera mejorada del sector público, a través de su iniciativa Accountability Now!, cuyo propósito es promover el conocimiento, facilitar la guía de implementación de IPSAS y fomentar el desarrollo de la capacidad técnica necesaria.

La Federación Internacional de Contadores (IFAC) anunció la nominación de James Gunn como Director Ejecutivo, Estándares Profesionales. La nominación de James Gunn será efectiva a partir de finales de junio 2014, luego del retiro de Jim Sylph.

Como director ejecutivo, James Gunn será un recurso y una fuente clave de asesoría para los presidentes de los consejos independientes de emisión de estándares* y supervisará la gerencia senior de los consejos. Actuará como portavoz de los consejos y, junto con los presidentes de los mismos, establecerá y mantendrá las relaciones con las principales partes interesadas. El cargo reporta funcionalmente a los presidentes de los consejos de normas y, administrativamente, al director ejecutivo de la IFAC. James Gunn será igualmente el principal intermediario entre los consejos independientes emisores de normas, el Grupo de Monitoreo y el Consejo de Supervisión del Interés Público (PIOB), al igual que entre los consejos y la IFAC.

"Contar para este cargo con alguien con la experiencia y el conocimiento que tiene James permitirá continuar protegiendo la independencia de los consejos emisores de normas, garantizando simultáneamente una continuada y sana relación laboral con el PIOB, la IFAC y demás grupos internacionales," comentó Fayez Choudhury, director ejecutivo de la IFAC. "En este cargo, James contribuirá en las discusiones con el Grupo de Revisión, desarrollando propuestas de los acuerdos más apropiados de supervisión para el Consejo de Normas Internacionales de Contabilidad para el Sector Público."

Actualmente, James Gunn es el Director Técnico del Consejo de Normas Internacionales de Auditoría y Aseguramiento (IAASB), un consejo al que ha servido durante más de una década. Bajo este cargo, James Gunn ha administrado y supervisado las actividades del consejo y su personal, y desempeñado un rol esencial en la representación del consejo, la creación de relaciones y el alcance de la relación con partes interesadas internacionales en más de 35 países alrededor del mundo. La carrera de James Gunn inició a inicios de los '90 con KPMG en su firma de auditoría en Canadá, incluyendo un periodo en su oficina nacional.

"Me siento honrado de haber sido seleccionado para este cargo. Espero que los desafíos y las oportunidades permitan crear y mantener la confianza de la comunidad regulatoria, la profesión y demás partes interesadas en el trabajo por el interés público realizado por los consejos independientes emisores de normas," enunció James Gunn.

James Gunn fue seleccionado luego de un llamado global solicitando aplicaciones. El proceso de identificación del remplazo de James Gunn como director técnico del IAASB está en curso.

* Los consejos independientes emisores de normas son el Consejo de Normas Internacionales de Auditoría y Aseguramiento (IAASB), el Consejo de Normas Internacionales de Educación Contable (IAESB), el Consejo de Normas Internacionales de Ética para Contadores (IESBA) y el Consejo de Normas Internacionales de Contabilidad para el Sector Público (IPSASB). La IFAC sirve el interés público contribuyendo en el desarrollo de organizaciones, mercados y economías sólidas y sostenibles. Como parte de su interés público, la IFAC contribuye en el desarrollo de estándares internacionales de alta calidad, apoyando a estos consejos emisores de normas con facilidades y recursos.

Acerca de la 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.

This presentation from Dawn McGeachy, Member, IFAC SMP Committee, includes: an overview of recent international and national audit quality developments and a practical review of the relevant Intenational Standards on Auditing (ISAs) and International Standard on Quality Control (ISQC) 1.  

This presentation from Dawn McGeachy, Member, IFAC SMP Committee, includes: an overview of the IFAC SMP Committee and recent activities including the results of the 2013 year-end IFAC SMP Quick Poll, and the implications of the growing demand for business advisory services from SMPs' small business clients.   

Part I by Paul Thompson, Deputy Director, SME & SMP Affairs, explores the challenges currently faced by SMPs, provides regulators' observations, and offers tips for audit efficiency.

Part II  with IFAC SMP Committee Member Christina Foo covers global insights, general implications for SMPs, new service offerings, and practice management. 

The Call for Applications:Chair of the International Ethics Standards Board for Accountants (IESBA) was issued today.

The Chair will lead the strategic direction of the IESBA, serving on a remunerated basis for a minimum of 150 days per year beginning January 1, 2015. He/she will work closely with the IESBA senior staff to facilitate the deliberative and consultative processes that underpin the authority of the IESBA and the legitimacy of its standards and activities. In addition, the Chair will be involved in developing and maintaining effective relationships with national standard setters, regulators, and other key stakeholders.

The successful candidate should have effective leadership, communication, and strategic skills; demonstrated technical and professional competency; and a commitment to the IESBA and its mission to protect the public interest. He or she will have very significant and senior experience. Exposure to professional ethical issues at a national, regional, or international level would be an asset, as would familiarity with regulatory and standard-setting processes. Only individuals who possess the highest integrity will be considered. The preferred candidate is an individual who is not a professional accountant. Candidates who are professional accountants will need to demonstrate their independence from the accountancy profession.

The IESBA Chair reports functionally to the Public Interest Oversight Board on matters related to the Board’s work program and refers to the Managing Director, Professional Standards, as a resource and key source of advice.

The IESBA is an independent standard-setting body that develops and issues the Code of Ethics for Professional Accountants (the Code). The Code includes standards on auditor independence and is applicable to the actions and decisions of all professional accountants, including those in business.

For further information about the position, please see the Call for Applications: Chair of the IESBA on the IFAC website. Applications are due by June 6, 2014.

About the IESBA
The International Ethics Standards Board for Accountants (IESBA) is an independent standard-setting board that develops and issues, in the public interest, high-quality ethical standards and other pronouncements for professional accountants worldwide. Through its activities, the IESBA develops the Code of Ethics for Professional Accountants, which establishes ethical requirements for professional accountants. The structures and processes that support the operations of the IESBA are facilitated by IFAC. Please visit www.ethicsboard.org for more information.

About IFAC
The International Federation of Accountants (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 179 members and associates in 130 countries and jurisdictions, representing approximately 2.5 million accountants in public practice, education, government service, industry, and commerce.

There are positive signs the sovereign debt crisis is easing. The Greek and Portuguese governments have re-entered the bond markets and Portugal is poised to become the second Eurozone country, after Ireland, to exit its bailout arrangements.

Therefore, it is timely to reflect on what has been done since the bailout programs were introduced and since lenders to the Greek government wrote off significant losses on their debt holdings. Austerity measures have been implemented and government cash reserves built up, but much still needs to be done to raise the general standard of government reporting, transparency, and accountability.

We must not forget too quickly the lessons of poor government reporting—that in some cases was misleading.

At the heart of the issue remains a concern: private sector companies raising funds from investors on the capital markets are required to provide audited, accrual-based, financial statements, yet too many governments—even ones with bonds on the capital markets—don’t follow the same practices. In fact, many do not even use accrual accounting.

It has now been over a year since the G-20 Finance Ministers and Central Banks Governors' Meeting in Moscow declared a “goal of strengthening the public sector balance sheet” and of “looking at transparency and comparability of public sector reporting, and monitoring the impact of financial sector vulnerabilities on public debt.”

An integral part of promoting such transparency and comparability is accrual-based financial reporting in accordance with high-quality, globally-accepted standards, such as the International Public Sector Accounting Standards (IPSASs).

As one response to the G-20, the International Monetary Fund (IMF) and World Bank—along with the Organisation for Economic Co-operation and Development (OECD)—have progressed a review of the governance of the International Public Sector Accounting Standards Board (IPSASB). Additionally, the European Commission, through Eurostat, initiated work to consider how public sector financial reporting can be improved within the European Union. It noted that IPSASs “represent an indisputable reference for potential development of European standards.”

“IFAC is encouraged by several initiatives that are currently underway; in particular, strengthening the current governance arrangements of the IPSASB will further enhance the credibility of IPSASs and their influence on public sector financial reporting,” said Fayezul Choudhury, Chief Executive Officer of IFAC. “However, there is much more that needs to be done, and we believe that the G-20 has a key role to play in ensuring that momentum is maintained and governments recognize the benefits of enhancing financial management and reporting—to ultimately improve transparency and accountability.”

IFAC strongly recommends that, throughout 2014 and into the coming years, the G-20—in particular, finance ministers and central bank governors—continue to focus on this critical matter. To promote greater adoption of IPSASs, IFAC believes that these standards should be added to the Financial Stability Board’s list of standards that are designated as deserving of priority implementation.

Furthermore, as part of its key strategic focus IFAC will continue to promote the need for enhanced public sector reporting and financial management through its recently launched Accountability Now! initiative, which aims to promote awareness of the issue, facilitate guidance on implementation of IPSASs, and encourage the development of needed technical capacity.

IFAC submitted a comment letter in response to the International Public Sector Accounting Standards Board Review Group (the Review Group)’s proposed governance arrangements for the International Public Sector Accounting Standard Board (IPSASB), detailed in the Consultation Paper.

The International Federation of Accountants (IFAC) today announced the appointment of James Gunn as Managing Director, Professional Standards. Mr. Gunn’s appointment is effective at the end of June 2014, upon the retirement of Jim Sylph.

As Managing Director, Mr. Gunn will be a resource and key source of advice to the chairs of the independent standard-setting boards* and oversee the senior management of the boards. He will serve as a spokesperson for the boards and, with the boards’ chairs, establish and maintain relationships with key stakeholders. The position reports functionally to the chairs of the standards boards, and administratively to IFAC’s Chief Executive Officer (CEO). Mr. Gunn will also be the primary liaison between the independent standard-setting boards, the Monitoring Group, and the Public Interest Oversight Board (PIOB), as well as between the boards and IFAC.

“Having someone with James’ experience and knowledge in this role will continue to safeguard the independence of the standard-setting boards, while ensuring the continuation of a sound working relationship with the PIOB, IFAC, and other international groups,” said Fayez Choudhury, IFAC’s CEO. “In this position, James will contribute to the ongoing discussions with the Review Group developing proposals for the most appropriate oversight arrangements for the International Public Sector Accounting Standards Board.”

Currently, Mr. Gunn is the Technical Director of the International Auditing and Assurance Standards Board (IAASB), a board he has served for over a decade. In this position, Mr. Gunn has managed and overseen the activities of the board and its staff, and played a pivotal role in representing the board, building relationships, and conducting outreach with international stakeholders in more than 35 countries around the world. Mr. Gunn’s career began in the early 1990s with KPMG in its Canadian audit practice, and included a term in its national office.

“I am honored to have been selected for this position. I look forward to the challenges and opportunities of maintaining and building the confidence of the regulatory community, the profession, and other stakeholders in the public interest work of the independent standard-setting boards,” commented Mr. Gunn.

Mr. Gunn was selected after an extensive global call for applications. The process of identifying Mr. Gunn’s replacement as IAASB Technical Director is underway.

* The independent standard-setting boards consist of the International Auditing and Assurance Standards Board (IAASB), the International Accounting Education Standards Board (IAESB), the International Ethics Standards Board for Accountants (IESBA), and the International Public Sector Accounting Standards Board (IPSASB). IFAC serves the public interest by contributing to the development of strong and sustainable organizations, markets, and economies. As part of its public interest mandate, IFAC contributes to the development of high-quality international standards by facilitating and resourcing these standard-setting boards.

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 179 members and associates in 130 countries and jurisdictions, representing approximately 2.5 million accountants in public practice, education, government service, industry, and commerce.