The International Federation of Accountants (IFAC), the global organization for the accountancy profession with members and associates in 127 countries, welcomes the Spanish translation of the Code of Ethics for Professional Accountants of the International Ethics Standards Board for Accountants (IESBA).

This single, Spanish translation is the result of a collaborative effort by several IFAC member bodies. The translation was performed by Instituto de Censores Jurados de Cuentas de España and reviewed by Instituto Mexicano de Contadores Públicos, together with Federación Argentina de Consejos Profesionales de Ciencias Económicas and a review committee comprising representatives from IFAC member bodies in Argentina, Bolivia, Chile, Colombia, Costa Rica, Mexico, Panama, Paraguay and Uruguay, and other key stakeholders.

The translated publication includes an unofficial Table of Equivalencies showing differences between terminology used in Spain and that commonly used in Latin America.

Ian Ball, IFAC Chief Executive Officer said, “IFAC has received many inquiries regarding the availability of a Spanish translation of the Code of Ethics for Professional Accountants. We are delighted that these IFAC member bodies have cooperated to make this important pronouncement widely available to Spanish-speaking accountants and other interested parties.”

This publication in PDF format can be downloaded free of charge for personal use from the IFAC website. It has not been published in print format. Reproduction, distribution or dissemination of the publication requires permission of IFAC. Contact permissions@ifac.org for further information.

For an overview of translations of IFAC’s publications, please visit the IFAC Translations Database: www.ifac.org/about-ifac/translations-permissions/translations-database

About the IESBA
The IESBA serves the public interest by setting high-quality ethical standards for professional accountants and by facilitating the convergence of international and national ethical standards, including auditor independence requirements, through the development of a robust, internationally appropriate code of ethics.

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 167 members and associates in 127 countries and jurisdictions, representing approximately 2.5 million accountants in public practice, education, government service, industry, and commerce.

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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 given by Phil Cowperthwaite, IFAC SMP Committee member, at the Malaysian Institute of Accountants Conference, Auditing Micro-Entities Efficiently and Effectively, March 23, 2012, Kuala Lumpur.

La Federación Internacional de Contadores (IFAC), una organización mundial para la profesión contable con miembros y asociados en 127 países, celebra la traducción al español del Manual de Normas Internacionales de Auditoría y Control de Calidad. 

Esta traducción única al español es el resultado de un proceso de colaboración de dos años y medio entre el Instituto de Censores Jurados de Cuentas de España (ICJCE), el Instituto de Contabilidad y Auditoría de Cuentas y un comité de revisión encabezado por la Federación Argentina de Consejos Profesionales de Ciencias Económicas (FACPCE), con representantes de organismos miembros de IFAC de Bolivia, Chile, Colombia, Costa Rica, México, Panamá, Paraguay, Uruguay y otros interesados clave. 

La publicación traducida incluye una Tabla de Equivalencias no oficial que muestra las diferencias entre la terminología utilizada en España y la comúnmente utilizada en América Latina. También fue revisada por la Dirección General de Traducción (DGT) de la Comisión Europea para corroborar su aceptabilidad en la Unión Europea.

Según el presidente del ICJCE, Rafael Cámara, “los miembros del ICJCE están especialmente complacidos con la publicación y quieren felicitar a todos los participantes. Esta es la primera vez que se publica en España una traducción al español de estas normas internacionales de auditoría de alta calidad, y es la culminación de varios años de trabajo”.

Por su parte, Fermín del Valle, expresidente de la IFAC, afirmó: “Esta publicación es realmente un hecho memorable y será muy beneficiosa para los profesionales de América Latina. El español es un idioma importante a nivel mundial, que se habla en España y en alrededor de veinte países latinoamericanos. Muchos países latinoamericanos planean adoptar las Normas Internacionales de Auditoría y Control de Calidad y, para esto, será fundamental contar con una traducción al español”.

El Director General de la IFAC, Ian Ball, agregó: “Este proyecto es un excelente ejemplo de colaboración entre organismos miembros de IFAC para beneficio de toda la profesión contable y de auditoría. La IFAC agradece enormemente a todos los que aportaron recursos y esfuerzos para esta importante publicación. Esta traducción al español representa un paso esencial para promover la adopción e implementación de normas internacionales de alta calidad de auditoría y control de calidad de interés público”.

Los organismos miembros de la IFAC están trabajando juntos en varios proyectos relacionados. Recientemente, se firmó un acuerdo de cooperación entre el ICJCE, la FACPCE y el Instituto Mexicano de Contadores Públicos para publicar una traducción única al español del Código de Ética para Contadores Profesionales, emitido por el Consejo de Normas Internacionales de Ética para Contadores. Se espera que la traducción final se publique en la página de Internet de la IFAC en el 2012. También se ha preparado el borrador de un memorando de entendimiento entre estos tres organismos miembros de la IFAC con el objetivo de colaborar para lograr procesos sostenibles a más largo plazo para la realización de una traducción única al español de las normas internacionales y otras publicaciones de la IFAC.

La traducción fue publicada en España por el ICJCE y en América Latina por la FACPCE (Argentina). Para comprar copias impresas del manual traducido, comuníquese con el ICJCE enviando un mensaje de correo electrónico a auditoria@icjce.es o con la FACPCE a facpce@facpce.org.ar.

Acerca de la IFAC
La IFAC es la organización mundial para la profesión contable que se dedica a servir el interés público mediante el fortalecimiento de la profesión y la contribución al desarrollo de economías internacionales fuertes. IFAC está compuesta por 167 miembros y asociados de 127 países y jurisdicciones, que representan a aproximadamente 2,5 millones de contadores en la práctica pública y en sectores como la educación, el gobierno, la industria y el comercio.

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The Monitoring Group (MG) has issued a public consultation on the governance arrangements for standard setting. IFAC recognizes the importance of ongoing review and dialogue to enhance these governance arrangements, and we welcome the opportunity to respond to this consultation.

IFAC encourages all key stakeholders and interested parties to consider responding to the MG consultation.

The updated second edition of this multi-part checklist  contains a new standalone section on environmental management. Other sections include financial tasks, strategic management tasks, and regulatory requirements, among other areas. The checklist is meant primarily for small- and medium-sized practices (SMPs), as a marketing or diagnostic tool to help them determine the advice a small business client may need, and also to help them in managing their own businesses. 

Published in the Institute of Certified Public Accountants of Uganda (ICPAU)'s Journal Today's Accountant

The International Federation of Accountants (IFAC) values the opportunity to comment on the public consultation paper issued by Eurostat on February 15, 2012, on the suitability of International Public Sector Accounting Standards (IPSASs) for EU Member States.

This Companion Manual provides member bodies and other professional accountancy organizations with guidance on how they can make the best use of the SMP Committee's four implementation guides, including adapting, translating, or incorporating the Guides into CPD courses and/or training programs. 

Download the related Guides:

In a letter submitted this month, the International Federation of Accountants (IFAC), the global organization for the accountancy profession with members and associates in 127 countries, urged the G-20 Deputies and Finance Ministers at their April 2012 meeting in Mexico to take action to encourage governments to seriously address the quality of public sector financial management systems and institutions. The letter, which is a follow-up to previous submissions to the G-20 in 2009, 2010, and 2011, focuses solely on public sector financial management, transparency, and accountability.

In March this year IFAC convened a seminar titled The Sovereign Debt Crisis, a Matter of Urgency―from Lessons to Reform, which included presentations, debates, and discussion involving key decision makers, politicians, and public sector finance management leaders[1]. Outcomes from the seminar included the identification of the compelling and urgent need for governments to address seriously the quality of public sector financial management systems and institutions. There was a call for the adoption of accrual accounting and budgeting to better measure and manage fiscal positions; noting that the current crisis emphasized the deficiencies associated with cash-based arrangements. A common theme that emerged was that, in many countries, the risks associated with the poor fiscal measurement and management exposed by the sovereign debt crisis are amplified by the fiscal risks associated with the aging population.

Urgent and fundamental work is needed to determine the nature of institutional change required in public sector financial management, transparency, and accountability

The four key recommendations in the letter are in line with IFAC’s mission to contribute to the development, adoption, and implementation of high-quality international standards; and by doing so, contribute to the development of strong international economies.

• IFAC recommends that the G-20 facilitate urgent and fundamental work, to be conducted or commissioned by the Financial Stability Board (FSB), to consider the nature of institutional changes that are needed in public sector financial management to protect the public and investors in government bonds.
• IFAC encourages the G-20 to make explicit that the FSB’s role encompasses public sector arrangements, as part of its aim "to coordinate at the international level the work of national financial authorities and international standard setting bodies and to develop and promote the implementation of effective regulatory, supervisory and other financial sector policies". In acknowledging the importance of the public sector as part of the FSB’s role, IFAC encourages the establishment of a working group within the FSB architecture, which is specifically tasked with examining enhanced public sector financial reporting, transparency and accountability.
• IFAC recommends that the G-20 actively encourage and facilitate the adoption of accrual-based accounting by governments and public sector institutions, which promotes greater transparency and accountability in public sector finances, and allows for   monitoring of government debt and liabilities for their true economic implications.
• IFAC recommends that the G-20 encourage FSB to include International Public Sector Accounting Standards (IPSASs) as a set of standards key for sound financial systems and deserving of timely implementation.

“For the last ten years IFAC has consistently promoted the need for better financial reporting and financial management in the public sector. The sovereign debt crisis has given rise to a very significant number of policy developments at an international level, but this issue has yet to be adequately addressed. The use of IPSASs by governments worldwide will improve the quality of financial information reported by public entities, which is critical for investors, taxpayers, and the general public,” said IFAC Chief Executive Officer Ian Ball.

The letter to the G-20 with the full recommendations is posted on the IFAC website.

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 167 members and associates in 127 countries and jurisdictions, representing approximately 2.5 million accountants in public practice, education, government service, industry, and commerce.

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