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Standard Setting – Input to
Benchmarking
Kelly Ånerud, Deputy Director
International Federation of Accountants
INTOSAI Professional Standards Committee
Manama, Bahrain
May 20-22, 2014
Page 1 | Confidential and Proprietary Information
International Standard Setting Boards
Standard Setting Benchmarking – Elements of
Interest to INTOSAI
• Stakeholders – how are views of external stakeholders
taken into consideration?
• Standards development – who develops the standards, who
is doing the actual writing, how is the work organised, in
what forums does the work take place, etc.?
• Administrative support – what kind of administrative support
is available to the people developing standards and how is it
organised?
Page 2 | Confidential and Proprietary Information
International Standard Setting Boards
Standard Setting Benchmarking - Stakeholders
• Volunteer Board members - Annual Call for Nominations
–
Best person for the job
–
Balance practitioner, non-practitioner, public members, regional, gender
• Technical Advisors (TAs) and other experts
• Due process for standard setting (wide consultation, exposure etc.)
• Extensive outreach – roundtables, forums, seminars, presentations
Page 3 | Confidential and Proprietary Information
International Standard Setting Boards
Standard Setting Benchmarking - Stakeholders
• Monitoring Group – public interest perspectives
• Public Interest Oversight Board (PIOB) - ensures due process
• Consultative Advisory Groups (CAG) - advises on strategy/work plan
Page 4 | Confidential and Proprietary Information
International Standard Setting Boards
Standard Setting Benchmarking - Oversight
Page 5 | Confidential and Proprietary Information
International Standard Setting Boards
Standard Setting Benchmarking – Standards
Development
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Independent standard setting boards
Subject to due process and oversight
Meetings open to the public
Development of standards
– Members, Technical Advisors, other experts, IFAC staff
– Expectation attendance at meetings - Board / task forces
– Significant annual time commitment
– Annual evaluation of members
Page 6 | Confidential and Proprietary Information
International Standard Setting Boards
Standard Setting Benchmarking – Standards
Development
• Phased approach:
– Project proposal / issues paper
– Exposure draft / analysis of responses
– Possible re-exposure
– PIOB approves due process
– Final standard published
• On average 2- 3 years to complete
Page 7 | Confidential and Proprietary Information
International Standard Setting Boards
Standard Setting Benchmarking – Resources
• Role of Chairman:
– IAASB and IPSASB full-time roles
– IESBA and IAESB significant part-time roles
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Board members, Technical Advisors, other experts
Technical staff - approximately 20
Administrative staff - approximately 4 – 6
IFAC provides significant financing and infrastructure
support (e.g. HR, IT, Communications, IP)
Page 8 | Confidential and Proprietary Information
See you in Rome in November 2014
www.wcoa2014rome.com
www.ifac.org