Article published by: World Bank Blogs Source: IFAC So far, many developing countries have been experiencing less impact from COVID-19 than more developed countries. This gives them a narrow window of opportunity to get government systems prepared for an effective response in terms of...
2020-04-03 - 04:57 Read more
Article written by: Alta Prinsloo - Executive Director with primary responsibility for IFAC’s new approach to advancing education for future-ready professional accountants Source: IFAC Virtual meetings have long been a relatively cheap and carbon-friendly alternative to in-person...
2020-04-03 - 04:46 Read more
Article published by: The Financial Reporting Council (FRC) AUDIT ISSUES ARISING FROM THE CONSEQUENCES OF THE COVID-19 (CORONAVIRUS) PANDEMIC COVID-19 is causing a shock to the global economy that could prove sharp and large but should be temporary* (Bank of England). ...
2020-03-27 - 09:45 Read more
Article published by: The European Securities and Markets Authority (ESMA) Source: IFAC The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has issued a Public Statement on some accounting implications of the economic support and relief measures...
2020-03-27 - 09:41 Read more
Many tools and guidance are available to help SMEs manage their finances and right now financial management is crucial to the survival of many SMEs. Here are a few such tools: SME Financial Management Toolkit This SME Financial Management Toolkit is an online financial management tool...
2020-03-27 - 09:26 Read more
Article written by: Sabine Vollmer - FM magazine senior editor Source: IFAC Corporate boards have important duties to perform as responses to the new coronavirus, known as COVID-19, ripple around the world, disrupting supply chains, upsetting consumer spending, and placing anybody...
2020-03-27 - 09:06 Read more
Published article by: Accountancy Europe Source: IFAC The coronavirus (SARS-CoV-19) pandemic continues to spread in many countries, including in Europe. The World Health Organization (WHO) and national authorities can be consulted for the health implications on people. This crisis...
2020-03-27 - 08:47 Read more
Article written by: Richard Edelman - CEO of Edelman and Dr. David Nabarro - The World Health Organization Special Envoy for COVID-19. Source: IFAC As the world confronts the spread of the new Coronavirus, people seek greater clarity on the risks they can expect to face and how to best...
2020-03-27 - 08:22 Read more
The coronavirus outbreak is consuming headlines. Many employers are preparing for possible disruptions that could affect business in the long-term, including labour shortages, transportation issues, reduced working hours and low consumer traffic. Fortunately, many businesses are already taking...
2020-03-18 - 11:26 Read more
Të nderuar, Në vijim të vendimit të Qeverisë së Republikës së Kosovës për marrjen e masave parandaluese kundër shpërndarjes së virusit CoViD-19 duke përfshirë ndërprerjen e procesit edukativo -arsimor në të...
2020-03-12 - 09:50 Read moreHigh-quality audits of financial statements are essential to strong organizations, financial markets and economies. While audits have historically focused on enhancing the confidence of investors and other providers of capital, other stakeholders also benefit—including directors,...
2020-03-11 - 10:00 Read more
The objective of an audit is to provide investors and other stakeholders with reasonable assurance as to whether the financial statements, taken as a whole, are prepared in accordance with the applicable financial reporting framework and are free from material misstatement. Audits help...
2020-03-11 - 09:55 Read more
High-quality audits depend on individuals, acting in the public interest, with the experience, integrity, independence, professional judgement, and skills commensurate with a high-quality audit. There is no more important factor. It is therefore vital that audits be conducted in an...
2020-03-11 - 09:52 Read more
Achieving high-quality audits is dependent on a well-functioning ecosystem of participants from the audit profession as well as from governing bodies, directors and management. The right culture—starting with the tone at the top—and right oversight are critical to achieving a...
2020-03-11 - 09:46 Read more
Regulation plays an important role in calibrating incentives, driving good outcomes, and ensuring that reasonable expectations are met. At the same time, there is the risk that the cost of regulation outweighs the benefits, that regulation can foster low-value defensive behaviors, or can...
2020-03-11 - 09:41 Read more
The term audit quality encompasses the key elements, both contextual and quantifiable, that create an environment which maximizes the likelihood that quality audits are performed on a consistent basis. Globally, many thousands of audits are performed annually—in the public...
2020-03-11 - 09:36 Read more
All participants in the audit and assurance ecosystem must act to improve the audit process, the skill-set and mind-set of accounting professionals, the governance activities of companies and firms, the regulations and standards that support entity reporting and auditor behavior, and how audit...
2020-03-11 - 09:28 Read more
