International Federation of Accountants
Translation Activities in IFAC – an Update
Kelly Ånerud, Senior Technical Manager
IAASB Meeting
New York City, USA
March 18, 2010
Translations
Key Priorities
 European Union
 Translations of Clarity ISAs and ISQC 1 into 21 official
EU languages
 Translations of standards into other major world languages:
Arabic, Chinese, Russian, Portuguese
 Strategic relationships: IFRSF, United Nations, World Bank
 Maintenance of Translations Database
 Ongoing processing of permission requests, translation
proposals and legal agreements
Translations
Key Statistics - 2009
• IFAC MBs represent approximately 55 languages
• IFAC’s standards and publications are translated
into some 40 languages, but not all are up-to-date
ISAs / ISQC1 – 42
IPSAS - 17
Code of Ethics – 35
IES - 8
SME Guide - 11
QC Guide - 8
• 2009 translation/reproduction: approx. 200 requests
processed, 90 agreements drafted, 64 complete/signed
• 100 updates to TDB
Translations
EU Translation Process – March 2010
• 18 of 20 completed translation agreement packages
returned
• 96% of translated standards submitted to DGM/DGT
• 4 countries have yet to submit entire set
• Generally progressing well, DGT still completing
review
• IFAC provided draft copyright waiver to EC and
cover templates to translating bodies
• 10 EEA countries likely to adopt Clarity Standards
Translations - Chain of Title
IFAC owns copyright in English language originals
IFAC grants Translating Body permission to translate/publish
Grant of
Rights
Translator
Translating
Body
Contractor
Agreement
Exhibit B
Assignment
Exhibit C
IFAC
Adopting
authority
Waiver
(if required)
Translations
Feedback from Translating Bodies
• Long sentences with complex structures
• Inconsistencies (‘work papers’ vs ‘working papers’)
• Words with multiple nuances (‘to consider,’ ‘to issue’)
• ‘Give a true and fair view’ vs ‘present fairly’
• ‘Professional accountant,’ ‘practitioner,’ ‘assurance
engagement,’ ‘component,’ ‘misstatement,’ ‘tolerable
misstatement,’ references to ‘IFAC Code of Ethics’
• Glossary – references to ISA and paragraph where terms
designated with “*”are defined would be helpful
• Consistency with IFRS important
Translations
One Quality Translation per Language
• Arabic – In place - ASCA Jordan coordinates
• Chinese – CICPA
• French – Canada and European Translating Bodies
• German – In place – IDW coordinates
• Portuguese – Brazil and Portugal
• Russian – In progress - Kazakhstan (ECCAA)
• Spanish – Spain’s Translating Bodies (ICJCE and
ICAC) and Latin America (FACPCE RC, IMCP)
Translations
Critical Environmental Issues
• Finalization of EU translation process
• Keep translations up-to-date as new standards are
issued
• Continued development of strategic relationships
• Commercial agreements / Sublicensing
Translations
What can you do to assist?
• Identify opportunities and take initiative
• Encourage regional cooperation
• Review translations database and inform
IFAC about need for updates:
http://www.ifac.org/Translations/database.php
• Questions? [email protected]
[email protected]
Dziękuję!
Mulţumesc!
Xie Xie!
Hvala!
Tak!
Tänan teid!
Go raibh maith agat!
Se ef̱ charistó̱!
Shukran!
Paldies! Obrigada!
Thank you!
Ačiū!
Grazzi!
Dank u!
Ďakujem!
Blagodarya!
Spasiba!
Arigato!
Děkuji!
Takk!
Gracias!
Grazie!
Tack!
Merci!
Köszönöm!
Danke!
Kiitos!
International Federation
of Accountants
www.ifac.org
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