Transcript Slide 1
International Federation of Accountants Translation Activities in IFAC – an Update Kelly Ånerud, Senior Technical Manager IAASB Meeting New York City, USA March 18, 2010
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Key Priorities
European Union Translations of Clarity ISAs and ISQC 1 into 21 official EU languages Translations of standards into other major world languages: Arabic, Chinese, Russian, Portuguese Strategic relationships: IFRSF, United Nations, World Bank Maintenance of Translations Database Ongoing processing of permission requests, translation proposals and legal agreements
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Key Statistics - 2009
• IFAC MBs represent approximately 55 languages • IFAC’s standards and publications are translated into some 40 languages, but not all are up-to-date ISAs / ISQC1 – 42 Code of Ethics – 35 SME Guide - 11 IPSAS - 17 IES - 8 QC Guide - 8 • 2009 translation/reproduction: approx. 200 requests processed, 90 agreements drafted, 64 complete/signed • 100 updates to TDB
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•
EU Translation Process – March 2010
18 of 20 completed translation agreement packages returned • 96% of translated standards submitted to DGM/DGT • 4 countries have yet to submit entire set • Generally progressing well, DGT still completing review • IFAC provided draft copyright waiver to EC and cover templates to translating bodies • 10 EEA countries likely to adopt Clarity Standards
Translations - Chain of Title
IFAC owns copyright in English language originals IFAC grants Translating Body permission to translate/publish Grant of Rights Translator Translating Body IFAC Adopting authority Contractor Agreement Exhibit B Assignment Exhibit C Waiver (if required)
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Feedback from Translating Bodies
• Long sentences with complex structures • Inconsistencies (‘work papers’ vs ‘working papers’) • Words with multiple nuances (‘to consider,’ ‘to issue’) • ‘Give a true and fair view’ vs ‘present fairly’ • ‘Professional accountant,’ ‘practitioner,’ ‘assurance engagement,’ ‘component,’ ‘misstatement,’ ‘tolerable misstatement,’ references to ‘IFAC Code of Ethics’ • Glossary – references to ISA and paragraph where terms designated with “*”are defined would be helpful • Consistency with IFRS important
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One Quality Translation per Language
• Arabic – In place - ASCA Jordan coordinates • Chinese – CICPA • French – Canada and European Translating Bodies • German – In place – IDW coordinates • Portuguese – Brazil and Portugal • Russian – In progress - Kazakhstan (ECCAA) • Spanish – Spain’s Translating Bodies (ICJCE and ICAC) and Latin America (FACPCE RC, IMCP)
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Critical Environmental Issues
• Finalization of EU translation process • Keep translations up-to-date as new standards are issued • Continued development of strategic relationships • Commercial agreements / Sublicensing
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What can you do to assist?
• Identify opportunities and take initiative • Encourage regional cooperation • Review translations database and inform IFAC about need for updates: http://www.ifac.org/Translations/database.php
• Questions? [email protected]
Dziękuję!
Mulţumesc!
Go raibh maith agat!
Xie Xie!
Hvala!
Tak!
Tänan teid!
Grazzi!
Se ef̱charistó̱!
Shukran!
Paldies!
Obrigada!
Tack!
Grazie!
Thank you!
Ačiū!
Merci!
Dank u!
Ďakujem!
Köszönöm!
Blagodarya!
Spasiba!
Takk!
Danke!
Arigato!
Děkuji!
Gracias!
Kiitos!
International Federation of Accountants www.ifac.org