Action Plan Workshop Apr 23 2009

International Federation of Accountants Szymon Radziszewicz Technical Manager, Compliance Program IFAC Beirut, 23 April 2009 Action Plans: Challenges and Success Factors IFAC Compliance Program Workshop for AFAA Members

IFAC Compliance Program ,[object Object],[object Object],[object Object],[object Object],[object Object]

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Part 3, Action Plans ,[object Object],[object Object],[object Object],[object Object]

Part 3, Action Plans – Current Status Status as of April 22, 2009 All IFAC AFAA Published Action Plans 32 1 ,[object Object],[object Object],[object Object],63 3 Working on Action Plans 47 3 Policy Recommendations in process of review 15 2 TOTAL 157 9

Issues – Adoption of ISAs and IFRS ,[object Object],[object Object],[object Object],[object Object],[object Object]

Issues – Adoption of ISAs and IFRS ,[object Object],[object Object],[object Object]

Issues – Code of Ethics and I&D ,[object Object],[object Object],[object Object],[object Object],[object Object]

Issues – Quality Assurance and Quality Control ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Issues – Education ,[object Object],[object Object],[object Object],[object Object],[object Object]

Key Challenges ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

[object Object],[object Object],Solutions – Action Plan Objectives

[object Object],[object Object],[object Object],[object Object],Solutions – Action Plan Objectives

Part 3, Action Plans - Example

Key Success Factors ,[object Object],[object Object],[object Object],[object Object]

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Key Success Factors ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Available Supporting Materials ,[object Object],[object Object],[object Object]

Way Forward ,[object Object],[object Object],[object Object],[object Object],[object Object]

Important Developments to Address Now ,[object Object],[object Object],[object Object]

Why Prepare? “ Participating in the Compliance Program has been truly meaningful and rewarding experience for CICPA, leading to important improvement in major areas of the development of the accounting profession in China. Especially, the Policy Recommendation and Action Plan process have been very helpful for us to work out the convergence plan, enhance quality assurance program and communicate effectively with regulators and the government.” China (CICPA)

Why Prepare? “ Completing the Action Plan was a very useful exercise for the CICA as it allowed us to consolidate and summarize in one place all that we were doing to fulfill our IFAC obligations and assists us in demonstrating to all of our stakeholders our strong commitment to quality. The Action Plan provides us with a useful tool for managing our commitment to SMOs and how we are performing as a member body, and we believe the process will prove equally useful to other IFAC members.” Kevin Dancey, President and CEO CICA Canada

Why Prepare? ,[object Object],[object Object],[object Object],[object Object],[object Object]

Points for Discussion ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Turbulent Times – Times of Opportunity Success happens when preparation meets opportunity

International Federation of Accountants Beirut, 23 April, 2009 Thank You Please Visit www.ifac.org/ComplianceProgram For Further Information

Action Plan Workshop Apr 23 2009

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Action Plan Workshop Apr 23 2009