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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
COMMUNICATIONS STRATEGY
UnderstandingUnderstanding
KnowledgeKnowledge
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
Communications about the IAASBCommunications about the IAASB
COMMUNICATIONS STRATEGY
PromotionPromotion
VisibilityVisibility EducationEducation
TransparencyTransparency
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
Challenges to PromotionChallenges to Promotion
• Defining public interest perspectiveDefining public interest perspective
• Achieving clarityAchieving clarity
• Getting heardGetting heard
• Ensuring transparencyEnsuring transparency
COMMUNICATIONS STRATEGY
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
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
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
MEDIA
Scottish Institute – “CA Magazine”Scottish Institute – “CA Magazine”
Interviews with IFAC LeadershipInterviews with IFAC Leadership
MEDIA
Comparison of 2005/2006 CoverageComparison of 2005/2006 Coverage
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
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%
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
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
Key Stakeholder MeetingsKey Stakeholder Meetings
• IOSCOIOSCO
• Basel CommitteeBasel Committee
• European CommissionEuropean Commission
• Monitoring Group of regulatorsMonitoring Group of regulators
STAKEHOLDERS
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
COMMUNICATIONS VEHICLES
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
COMMUNICATIONS VEHICLES
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
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
WEBSITE – CAG HOME PAGE
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
Exposure Drafts – Growth in DownloadsExposure Drafts – Growth in Downloads
WEBSITE – EDs
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
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
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
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
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
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
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
International Federation of AccountantsInternational Federation of Accountantswww.ifac.orgwww.ifac.org
Email: [email protected]: [email protected]
June 29, 2007June 29, 2007