Transcript INTERNATIONAL FEDERATION OF ACCOUNTANTS

IFACnet.com
http:\\www.ifac.org
Practical Support for SMPs
Information Sharing and Networking
IFAC SMP Forum, Abuja , Nigeria, October 13, 2008
Alex Hilman, CPA (Isr.)
IFAC Small and Medium Practices (SMP) Committee Member
Past President, Institute of Certified Public Accountants in Israel
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IFACnet.com
Content
http:\\www.ifac.org
1. Some of the issues facing SMPs
2. From the IFAC SMP Committee Strategic and
Operational Plan
3. International Center for SMPs
4. International Center for SMPs – Future
Developments
5. IFACnet – Overview
6. IFACnet - Future Developments
7. Conclusions
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IFACnet.com
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1. Some of the issues facing SMPs
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Limited capacity of SMP/SME, to efficiently
implement and comply with international standards.
Inability to be informed and updated in real time.
Intense competition especially from
non-professionals, reduced compliance work.
Lack of engagement of SMPs/SME
in international arena.
IFACnet.com
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2. From the SMP Committee Strategic and
Operational Plan 2009-2012:
• Increase capacity of SMPs to perform high quality
work and be competitive and profitable via practical
support, for example, provision of implementation
materials & web-based information resources and
web-based tools.
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IFACnet.com
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3. International Center for SMPs - Present
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Enter via IFAC/ SMP Committee website: http://www.ifac.org/SMP/
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Links for:
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IFACnet portal (see later)
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News ( quarterly SMP News, updates)
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Resources (publications; speeches; links to high quality, relevant
& free resources)
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SMP Committee details
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Translated into 5 UN languages;
Russian, French, Spanish, Arabic, Chinese
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Expecting 10,000 (+) visitors in 2008 (2007: 7,224)
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IFACnet.com
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International Center for SMPs
recently added
• Public SMP/SME Discussion Board – Targets:
– To get SMPs and SMEs discussing key issues;
– To elicit SMPs and SMEs views on draft standards
– To facilitate dialogues and sharing of ideas on topics
relevant to SMPs & SMEs
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IFACnet.com
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3. International Center for SMPs
recently added (cont.)
• Discussion board - few of the topics now on board:
- How is the Credit Crisis affecting your practice? What steps are you taking to
cope?
- How do you think the redrafting of the IFAC Code of Ethics will impact SMEs and
SMPs?
- What are your views on the consultation paper on the IAASB's review engagement
standard?
- What has been your experience in implementing the Guide to Using ISAs in SME
Audits?
- AICPA's Accounting and Review Services Committee Reliability Project
- Is there a need for standards and guidance designed specifically for
- micro-entities?
- Top Ten Reasons I Like Being an Accountant
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IFACnet.com
http:\\www.ifac.org
4.International Center for SMPs - Tomorrow
Future Developments
• Looking at other ways to use Web 2.0 technology
• Possible future developments:
- Global firm directory (e.g., http://www.icaewfirms.co.uk/)
- Professional Education Center, offering access to subsidized online CPD
courses (e.g., www.smartpros.com)
• SMP/SME Communications Center:
- Developing the discussion board: practitioners can ask questions, raise issues,
exchange information (including information on “doing business overseas”)
& invite opinion.
- Online networking between SMPs & SMEs
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IFACnet.com
http:\\www.ifac.org
5. IFACnet - Overview
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See: www.ifacnet.com
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Customized web search engine, providing access to
resources of IFAC and its member bodies (around 40
member bodies websites).
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Non members body websites being added.
(FEE & PIOB already included.
To follow – IASB, Big 4 and many others).
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Improving the search system and the presentation of
search results.
IFACnet.com
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5. IFACnet – Overview – Language.
• Home page is translated to the 5 UN languages
(Russian, French, Spanish, Arabic & Chinese)
• Professional material can be found in more
languages using Latin letters (such as: Danish,
French, Italian, Protégé's and Turkish)
IFACnet – Expecting 80,000 (+) visitors in 2008
Number of visitors in 2007 – 76,000.
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IFACnet.com
http:\\www.ifac.org
6. IFACnet - Future Developments
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Improved language capabilities:
- Expend to Chinese, Japanese, Hindi & Korean.
- Language that are read left to right (such as Arabic & Hebrew) are the
next challenge.
Menu/Lists of Key search terms and categories
(multi – languages)*
* 7,200 distinct search terms were already used in 2008
(until 31.7)
5 most requested search terms:
IFRS, ISA, Code of Ethics, IFRS handbook 2007
and International Accounting Standards
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IFACnet.com
http:\\www.ifac.org
6. IFACnet:
Possible Future Developments
• More Features based on search results:
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list top 20 in vertical hierarchy;
present suggested terms for refining search;
present relevant current news stories; and
one can share results and provide feedback
rating for articles (number of hits, satisfaction etc.)
IFACnet.com
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7. Conclusion
• Please see http://www.ifac.org/smp
• Please subscribe to SMP eNews
• Please tell your friends about us & our activities
• Group C will get to further discuss these
and other topics
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IFACnet.com
IFACnet.com
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Thank you!
Alex Hilman, CPA (Isr)
IFAC Small and Medium Practices (SMP) Committee Member
Past President, Institute of Certified Public Accountants in Israel
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