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International Federation of International Federation of Accountants Accountants Promoting International Promoting International Standards Standards Helene Kennedy, Chief Communications Helene Kennedy, Chief Communications Officer Officer June 29, 2007 June 29, 2007

International Federation of Accountants Promoting International Standards Helene Kennedy, Chief Communications Officer June 29, 2007

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Page 1: International Federation of Accountants Promoting International Standards Helene Kennedy, Chief Communications Officer June 29, 2007

International Federation of AccountantsInternational Federation of Accountants

Promoting International StandardsPromoting International Standards

Helene Kennedy, Chief Communications OfficerHelene Kennedy, Chief Communications Officer

June 29, 2007June 29, 2007

Page 2: International Federation of Accountants Promoting International Standards Helene Kennedy, Chief Communications Officer June 29, 2007

COMMUNICATIONS STRATEGY

UnderstandingUnderstanding

KnowledgeKnowledge

Page 3: International Federation of Accountants Promoting International Standards Helene Kennedy, Chief Communications Officer June 29, 2007

ObjectivesObjectives• Increase awareness of profession’s role in Increase awareness of profession’s role in

contributing to economic development contributing to economic development worldwideworldwide

• Promote international standards and Promote international standards and convergenceconvergence

• Communicate IFAC and member body role Communicate IFAC and member body role in promoting quality performance in promoting quality performance

• Promote value of IFAC membership Promote value of IFAC membership

COMMUNICATIONS STRATEGY

Page 4: International Federation of Accountants Promoting International Standards Helene Kennedy, Chief Communications Officer June 29, 2007

Communications about the IAASBCommunications about the IAASB

COMMUNICATIONS STRATEGY

PromotionPromotion

VisibilityVisibility EducationEducation

TransparencyTransparency

Page 5: International Federation of Accountants Promoting International Standards Helene Kennedy, Chief Communications Officer June 29, 2007

What We PromoteWhat We Promote

• The processThe process

The role of CAGThe role of CAG

• The exposure draftThe exposure draft

• The commentsThe comments

• The standardThe standard

Its public interest valueIts public interest value

COMMUNICATIONS STRATEGY

Page 6: International Federation of Accountants Promoting International Standards Helene Kennedy, Chief Communications Officer June 29, 2007

Challenges to PromotionChallenges to Promotion

• Defining public interest perspectiveDefining public interest perspective

• Achieving clarityAchieving clarity

• Getting heardGetting heard

• Ensuring transparencyEnsuring transparency

COMMUNICATIONS STRATEGY

Page 7: International Federation of Accountants Promoting International Standards Helene Kennedy, Chief Communications Officer June 29, 2007

How We Get Our Messages AcrossHow We Get Our Messages Across

• Media outreachMedia outreach

• SpokesmanshipSpokesmanship

• Meetings with stakeholdersMeetings with stakeholders

• Print and electronic communicationsPrint and electronic communications

• WebsiteWebsite

COMMUNICATIONS STRATEGY

Page 8: International Federation of Accountants Promoting International Standards Helene Kennedy, Chief Communications Officer June 29, 2007

Media Outreach – Press Releases Media Outreach – Press Releases

• Internal audiencesInternal audiences

– 350 individuals at member and regional bodies 350 individuals at member and regional bodies

(CEOs, international directors, communications)(CEOs, international directors, communications)

– More than 700 people on IFAC boards and More than 700 people on IFAC boards and

committees, CAGs, national standard setters, etc. committees, CAGs, national standard setters, etc.

• All press releases posted on the website and All press releases posted on the website and

Newswires on each board’s home pageNewswires on each board’s home page

MEDIA

Page 9: International Federation of Accountants Promoting International Standards Helene Kennedy, Chief Communications Officer June 29, 2007

Media Outreach – Interviews and Press Media Outreach – Interviews and Press Releases Releases

• Accountancy publicationsAccountancy publications

• Accountancy websitesAccountancy websites

• Member body journals and newslettersMember body journals and newsletters

• Major business media (e.g., Reuters, Major business media (e.g., Reuters, Bloomberg, FT)Bloomberg, FT)

• StakeholdersStakeholders

MEDIA

Page 10: International Federation of Accountants Promoting International Standards Helene Kennedy, Chief Communications Officer June 29, 2007

MEDIA

Page 11: International Federation of Accountants Promoting International Standards Helene Kennedy, Chief Communications Officer June 29, 2007

Scottish Institute – “CA Magazine”Scottish Institute – “CA Magazine”

Page 12: International Federation of Accountants Promoting International Standards Helene Kennedy, Chief Communications Officer June 29, 2007

Interviews with IFAC LeadershipInterviews with IFAC Leadership

Page 13: International Federation of Accountants Promoting International Standards Helene Kennedy, Chief Communications Officer June 29, 2007

MEDIA

Comparison of 2005/2006 CoverageComparison of 2005/2006 Coverage

Page 14: International Federation of Accountants Promoting International Standards Helene Kennedy, Chief Communications Officer June 29, 2007

IFAC Media Coverage – Top 6 AreasIFAC Media Coverage – Top 6 Areas

MEDIA

2006 – To Date2006 – To Date

1.1. IAASB and convergence to its standardsIAASB and convergence to its standards

2.2. IFAC activitiesIFAC activities

3.3. Professional accountants in businessProfessional accountants in business

4.4. Public sector accountingPublic sector accounting

5.5. Education standards and guidanceEducation standards and guidance

6.6. Ethics and independence standardsEthics and independence standards

Page 15: International Federation of Accountants Promoting International Standards Helene Kennedy, Chief Communications Officer June 29, 2007

Media Coverage Media Coverage

MEDIA

Total IFAC Total IFAC CoverageCoverage

% on Auditing, % on Auditing, Ethics and EducationEthics and Education

2006: 977 articles2006: 977 articles 40%40%

Jan-Apr 2007: Jan-Apr 2007:

200 articles200 articles

43%43%

Page 16: International Federation of Accountants Promoting International Standards Helene Kennedy, Chief Communications Officer June 29, 2007

What the Media Said: Top InterestsWhat the Media Said: Top Interests

• Auditor independenceAuditor independence

• ConvergenceConvergence

• Auditor liability Auditor liability

• Regulation of the professionRegulation of the profession

• IFAC initiativesIFAC initiatives

MEDIA SURVEY

Page 17: International Federation of Accountants Promoting International Standards Helene Kennedy, Chief Communications Officer June 29, 2007

Spokesmanship Activities Spokesmanship Activities

SPOKESMANSHIP

Total Number of Total Number of Speeches GivenSpeeches Given 20062006

2007 (including 2007 (including commitments to commitments to date)date)

IFAC OfficersIFAC Officers 6969 4545

PIAC ChairsPIAC Chairs 1212 1313

Senior StaffSenior Staff 1212 1414

Page 18: International Federation of Accountants Promoting International Standards Helene Kennedy, Chief Communications Officer June 29, 2007

Key Stakeholder MeetingsKey Stakeholder Meetings

• IOSCOIOSCO

• Basel CommitteeBasel Committee

• European CommissionEuropean Commission

• Monitoring Group of regulatorsMonitoring Group of regulators

STAKEHOLDERS

Page 19: International Federation of Accountants Promoting International Standards Helene Kennedy, Chief Communications Officer June 29, 2007

Communications VehiclesCommunications Vehicles• IFAC Newsletter articles 3-4 times per yearIFAC Newsletter articles 3-4 times per year

• Monthly Monthly IFAC UpdateIFAC Update to IFAC members, to IFAC members, regional bodies, all committees, boards, and regional bodies, all committees, boards, and CAGsCAGs

• IFAC annual reportIFAC annual report

• IAASB annual reportIAASB annual report

• Special reports (i.e., Audit Risk, Audit Quality, Special reports (i.e., Audit Risk, Audit Quality, Clarity Update)Clarity Update)

COMMUNICATIONS

Page 20: International Federation of Accountants Promoting International Standards Helene Kennedy, Chief Communications Officer June 29, 2007

COMMUNICATIONS VEHICLES

Page 21: International Federation of Accountants Promoting International Standards Helene Kennedy, Chief Communications Officer June 29, 2007

Growth in eNews Subscribers 2005-2007Growth in eNews Subscribers 2005-2007

21,702

15,58017,174

13,474

17,289

12,314

IAASB eNews Education eNews Ethics eNews

Jan2005

June2007

COMMUNICATIONS VEHICLES

Page 22: International Federation of Accountants Promoting International Standards Helene Kennedy, Chief Communications Officer June 29, 2007

COMMUNICATIONS VEHICLES

Page 23: International Federation of Accountants Promoting International Standards Helene Kennedy, Chief Communications Officer June 29, 2007

IFAC WebsiteIFAC Website

• EDs and standards accessible throughout EDs and standards accessible throughout the site (free-of-charge)the site (free-of-charge)

• Comment letters, meeting agendas, etc., Comment letters, meeting agendas, etc., postedposted

• Links to PIOB throughout siteLinks to PIOB throughout site

• New CAG pages launchedNew CAG pages launched

WEBSITE

Page 24: International Federation of Accountants Promoting International Standards Helene Kennedy, Chief Communications Officer June 29, 2007

Website – PIAC Home PagesWebsite – PIAC Home Pages

WEBSITE

2005 2005 2006 2006 Jan-Apr 2007Jan-Apr 2007

IAASB IAASB page viewspage views

170,174170,174 162,404162,404 82,190 82,190

Education Education page viewspage views

19,81319,813 26,04926,049 12,383 12,383

Ethics page Ethics page viewsviews

25,235 25,235 29,76729,767 13,738 13,738

Page 25: International Federation of Accountants Promoting International Standards Helene Kennedy, Chief Communications Officer June 29, 2007

WEBSITE – CAG HOME PAGE

Page 26: International Federation of Accountants Promoting International Standards Helene Kennedy, Chief Communications Officer June 29, 2007

Exposure Drafts (Jan 2005-Apr 2007)Exposure Drafts (Jan 2005-Apr 2007)

WEBSITE – EDs

• IAASB issued 23 exposure drafts/redrafted standardsIAASB issued 23 exposure drafts/redrafted standards

– 74,100 copies downloaded74,100 copies downloaded

– Received more than 700 comment lettersReceived more than 700 comment letters

• Education Board issued 4 exposure draftsEducation Board issued 4 exposure drafts

– Over 12,000 copies downloadedOver 12,000 copies downloaded

– Received 116 comment lettersReceived 116 comment letters

• Ethics Board issued 2 exposure draftsEthics Board issued 2 exposure drafts

– Over 7,300 copies downloadedOver 7,300 copies downloaded

– Received 101 comment lettersReceived 101 comment letters

Page 27: International Federation of Accountants Promoting International Standards Helene Kennedy, Chief Communications Officer June 29, 2007

Exposure Drafts – Growth in DownloadsExposure Drafts – Growth in Downloads

WEBSITE – EDs

Page 28: International Federation of Accountants Promoting International Standards Helene Kennedy, Chief Communications Officer June 29, 2007

Top 5 Exposure Drafts Top 5 Exposure Drafts (2006 – May 2007) (2006 – May 2007)

Total Total DownloadsDownloads

1.1. IAASB’s Proposed ISA 320 (Revised and IAASB’s Proposed ISA 320 (Revised and Redrafted) and proposed ISA 450 Redrafted) and proposed ISA 450 (Redrafted)(Redrafted)

7,2007,200

2.2. IAASB’s Improving the Clarity of IAASB’s Improving the Clarity of IAASB StandardsIAASB Standards

6,600 6,600

3.3. IAASB’s Proposed ISA 600 (Revised and IAASB’s Proposed ISA 600 (Revised and Redrafted), Audit of Group Financial St.Redrafted), Audit of Group Financial St.

5,7005,700

4.4. IAASB’s Proposed ISA 550 (Revised), IAASB’s Proposed ISA 550 (Revised), Related Parties (issued Dec 31, 2005)Related Parties (issued Dec 31, 2005)

4,1004,100

5. IESBA’s Independence ED (Proposed Revisions to Section 290)

3,8003,800

Page 29: International Federation of Accountants Promoting International Standards Helene Kennedy, Chief Communications Officer June 29, 2007

Top 5 Exposure Drafts Top 5 Exposure Drafts (2006 – May 2007) (2006 – May 2007)

Comments Comments ReceivedReceived

1.1. IAASB’s Proposed ISA 320 (Revised and IAASB’s Proposed ISA 320 (Revised and Redrafted) and proposed ISA 450 Redrafted) and proposed ISA 450 (Redrafted)(Redrafted)

4646

2.2. IAASB’s Improving the Clarity of IAASB’s Improving the Clarity of IAASB StandardsIAASB Standards

4646

3.3. IAASB’s Proposed ISA 600 (Revised and IAASB’s Proposed ISA 600 (Revised and Redrafted), Audit of Group Financial St.Redrafted), Audit of Group Financial St.

5050

4.4. IAASB’s Proposed ISA 550 (Revised), IAASB’s Proposed ISA 550 (Revised), Related Parties (issued Dec 31, 2005)Related Parties (issued Dec 31, 2005)

4242

5. IESBA’s Independence ED (Proposed Revisions to Section 290)

74

Page 30: International Federation of Accountants Promoting International Standards Helene Kennedy, Chief Communications Officer June 29, 2007

Survey of Website UsersSurvey of Website Users

WEBSITE SURVEY

• More than 1,550 responsesMore than 1,550 responses

• Respondents represent 143 countries Respondents represent 143 countries (India, UK, Pakistan, US and Nigeria (India, UK, Pakistan, US and Nigeria were top 5)were top 5)

• Survey completed by staff accountants, Survey completed by staff accountants, partners in firms, academics, PAIBs, partners in firms, academics, PAIBs, public sector accountants and otherspublic sector accountants and others

Page 31: International Federation of Accountants Promoting International Standards Helene Kennedy, Chief Communications Officer June 29, 2007

Web Survey – Topics of Most Interested Web Survey – Topics of Most Interested

WEBSITE SURVEY

• IFAC standard settingIFAC standard setting

• ConvergenceConvergence

• Auditor responsibilityAuditor responsibility

• Internal control/risk managementInternal control/risk management

• Ethics issuesEthics issues

Page 32: International Federation of Accountants Promoting International Standards Helene Kennedy, Chief Communications Officer June 29, 2007

Website Translation ProjectWebsite Translation Project

WEBSITE TRANSLATION

• Translating core portions of website into the five Translating core portions of website into the five languages of the UN (besides English)languages of the UN (besides English)

– ArabicArabic 323 million speakers323 million speakers

– ChineseChinese 1,051 million speakers1,051 million speakers

– EnglishEnglish 980 million speakers980 million speakers

– FrenchFrench 350 million speakers350 million speakers

– RussianRussian 255 million speakers255 million speakers

– SpanishSpanish 500 million speakers500 million speakers

* First and second language speakers* First and second language speakers

Page 33: International Federation of Accountants Promoting International Standards Helene Kennedy, Chief Communications Officer June 29, 2007

Website Translation – Going ForwardWebsite Translation – Going Forward

WEBSITE TRANSLATION

• Posting or linking to translated technical Posting or linking to translated technical pronouncements pronouncements

• Translation of IFAC copyright and Translation of IFAC copyright and translation policiestranslation policies

• Goal is to establish website as global point Goal is to establish website as global point of contact for translated IFAC of contact for translated IFAC pronouncements and resourcespronouncements and resources

Page 34: International Federation of Accountants Promoting International Standards Helene Kennedy, Chief Communications Officer June 29, 2007

What’s AheadWhat’s Ahead

COMMUNICATIONS

• Translating monthly Translating monthly IFAC Update IFAC Update

• IFAC’s 30IFAC’s 30thth anniversary anniversary

• CAG survey in 2008CAG survey in 2008

• IAASB communications strategyIAASB communications strategy

Page 35: International Federation of Accountants Promoting International Standards Helene Kennedy, Chief Communications Officer June 29, 2007

International Federation of AccountantsInternational Federation of Accountantswww.ifac.orgwww.ifac.org

Email: [email protected]: [email protected]

June 29, 2007June 29, 2007