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INTOSAISubcommittee on Accounting and Reporting
Office of the Auditor General of Canada
Survey on Financial Accounting and Reporting Standards
Presented by Stuart Barr, CMA
Assistant Auditor General of Canada Brasilia, Brazil
June 2009
INTOSAISubcommittee on
Accounting and Reporting
Office of the Auditor General of Canada
Survey Objectives
Identify accounting standards used by INTOSAI countries, Identify future plans to move to international accounting standards, Identify the kind of information required regarding international accounting and reporting standards, Identify how this information should be communicated to them.
INTOSAISubcommittee on
Accounting and Reporting
Office of the Auditor General of Canada
Sampling and Summary Statistics
Target Group: 186 members of INTOSAI Web-based survey Survey issued in Arabic, English, French, German and Spanish 106 of the 186 members responded – a 57% response rateSurvey was administered by OAG Canada between 24 April and 5 June 2009
INTOSAISubcommittee on
Accounting and Reporting
Office of the Auditor General of Canada
Type of accounting standards used by audited government organizations
0
10
20
30
40
50
60
0
10
20
30
40
50
60
51
2225 25
36 34
Percentage
Percentage
International standards National standards Other
Accrual Basis (IPSASB) Cash Basis (IPSASB) IFRS
Type of Standard Adopted
International standards
* Respondants
were allowed to
select more than
one choice —
72% only selected
a single response
INTOSAISubcommittee on
Accounting and Reporting
Office of the Auditor General of Canada
IPSASB Accrual Basis versus IPSASB Cash Basis
For countries using IPSASB Cash Basis
58% plan to move to IPSASB Accrual Basis
42% will not
INTOSAISubcommittee on
Accounting and Reporting
Office of the Auditor General of Canada
Plan to move to international accounting standards
For countries using at least one non-international accounting standard
54% plan to move to an international accounting standard
46% will not
INTOSAISubcommittee on
Accounting and Reporting
Office of the Auditor General of Canada
Plans to move to an international accounting standard *
*Respondents were allowed to select more than one choice (39 responded with 56 total responses)
74
3633
0
10
20
30
40
50
60
70
80
74
36 33
Percentage
Accrual Basis (IPSASB) Cash Basis (IPSASB) IFRS
INTOSAISubcommittee on
Accounting and Reporting
Office of the Auditor General of Canada
Reasons for not moving to international accounting standards *
Constraints caused by lack of resources (3%)
Government believes the current accounting standards adequately meet the needs of the users of the financial statements (45%)
Other reasons (52%)
* Respondents were allowed to select more than one choice.
INTOSAISubcommittee on
Accounting and Reporting
Office of the Auditor General of Canada
Kind of information needed regarding international accounting and reporting standards
First Choice
Response
Total Responses
Guidance on the application ofinternational accounting andreporting standards
47% 75
Updates on changes to international accounting and reporting standards
43% 76
Future directions for international accounting and reporting standards
5% 70
Other 5% 8
INTOSAISubcommittee on
Accounting and Reporting
Office of the Auditor General of Canada
Preference for sharing information about accounting and reporting standards
First Choice Response
Total Responses
Electronic communications 64% 77
Face-to-face meetings 36% 74
Teleconferencing 0% 59
Other 0% 8
INTOSAISubcommittee on
Accounting and Reporting
Office of the Auditor General of Canada
Open-ended questions
Additional comments were provided in open-ended questions
These will be further analyzed for use by the Subcommittee on Accounting and Reporting
INTOSAISubcommittee on
Accounting and Reporting
Office of the Auditor General of Canada
Questions
