Similaire à Session 2B International Audit and Assurance Standards (ISA) Adoption and Implementation Challenges and Tools for the Region - Giancarlo Attolini
Similaire à Session 2B International Audit and Assurance Standards (ISA) Adoption and Implementation Challenges and Tools for the Region - Giancarlo Attolini (20)
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Session 2B International Audit and Assurance Standards (ISA) Adoption and Implementation Challenges and Tools for the Region - Giancarlo Attolini
1. ISA ADOPTION AND IMPLEMENTATION
CHALLENGES AND TOOLS FOR THE
REGION
Giancarlo Attolini, Chair
IFAC Small and Medium Practices Committee
CReCER 2012 – Breakout Session 2B
Managua, Nicaragua
October 29, 2012
2. • SMP Committee Vision:
– “The SMP Committee is a valued contributor to helping IFAC
member bodies develop their small- and medium-sized practices.”
• Strategy and work plan development:
– Strategy and Work Plan for 2013-2016 (December 2012)
– Alignment with IFAC strategy
• Key activities:
– Input to Standard Setting and Guidance
– Adoption and Implementation
– Development and Quality
– Speaking Out
3. Adoption and Implementation – Challenges
•SMPs typically lack in-house the technical
resources available at larger firms, so face
challenges in efficiently and cost effectively
implementing international standards to meet
the assurance needs of their clients
4. Adoption and Implementation – Solutions
•We aim to facilitate the adoption and effective
implementation of high-quality international
standards and guidance by SMPs and SMEs
•Tools and products:
– ISA Guide
– QC Guide
– Implementation support for Review Engagements (ISRE
2400) – in progress
– Other free resources and tools (articles, links etc.)
6. • ISA and QC Guides
– IFAC SMP Committee Publications
– Free to download
– Non-authoritative guidance
– ISA Guide 3rd Edition released November 10, 2011
– QC Guide 3rd Edition released August 1, 2011
– Amongst most downloaded of all IFAC publications
– Many translations, including Spanish and
Portuguese
7. References - IFAC
Guide to Using International Standards on Auditing in the Audits of Small- and
Medium-Sized Entities (inc. companion manual and slides):
https://www.ifac.org/publications-resources/guide-using-international-standards-auditing-audi
Guide to Quality Control for Small- and Medium-Sized Practices (inc. companion
manual and slides):
www.ifac.org/publications-resources/guide-quality-control-small-and-medium-sized-practices-
Tips for Cost-Effective ISA Application article:
https://www.ifac.org/publications-resources/tips-cost-effective-isa-application
Tips for Cost-Effective ISQC 1 Application article:
http://www.ifac.org/publications-resources/tips-cost-effective-isqc-1-application
ISRS 4410: The Standard for Today's Compilation Engagements article:
https://www.ifac.org/news-events/2012-07/isrs-4410-standard-todays-compilation-engageme