International Federation of Accountants Promoting International Standards Helene

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

COMMUNICATIONS STRATEGY Knowledge Understanding

COMMUNICATIONS STRATEGY Objectives • Increase awareness of profession’s role in contributing to economic development worldwide • Promote international standards and convergence • Communicate IFAC and member body role in promoting quality performance • Promote value of IFAC membership

COMMUNICATIONS STRATEGY Communications about the IAASB Promotion Visibility Education Transparency

COMMUNICATIONS STRATEGY What We Promote • The process 9 The role of CAG • The exposure draft • The comments • The standard 9 Its public interest value

COMMUNICATIONS STRATEGY Challenges to Promotion • Defining public interest perspective • Achieving clarity • Getting heard • Ensuring transparency

COMMUNICATIONS STRATEGY How We Get Our Messages Across • Media outreach • Spokesmanship • Meetings with stakeholders • Print and electronic communications • Website

MEDIA Media Outreach – Press Releases • Internal audiences – 350 individuals at member and regional bodies (CEOs, international directors, communications) – More than 700 people on IFAC boards and committees, CAGs, national standard setters, etc. • All press releases posted on the website and Newswires on each board’s home page

MEDIA Media Outreach – Interviews and Press Releases • Accountancy publications • Accountancy websites • Member body journals and newsletters • Major business media (e. g. , Reuters, Bloomberg, FT) • Stakeholders

MEDIA

Scottish Institute – “CA Magazine”

Interviews with IFAC Leadership

MEDIA Comparison of 2005/2006 Coverage

MEDIA IFAC Media Coverage – Top 6 Areas 2006 – To Date 1. IAASB and convergence to its standards 2. IFAC activities 3. Professional accountants in business 4. Public sector accounting 5. Education standards and guidance 6. Ethics and independence standards

MEDIA Media Coverage Total IFAC Coverage % on Auditing, Ethics and Education 2006: 977 articles 40% Jan-Apr 2007: 200 articles 43%

MEDIA SURVEY What the Media Said: Top Interests • Auditor independence • Convergence • Auditor liability • Regulation of the profession • IFAC initiatives

SPOKESMANSHIP Spokesmanship Activities Total Number of Speeches Given 2006 2007 (including commitments to date) 45 IFAC Officers 69 PIAC Chairs 12 13 Senior Staff 12 14

STAKEHOLDERS Key Stakeholder Meetings • IOSCO • Basel Committee • European Commission • Monitoring Group of regulators

COMMUNICATIONS Communications Vehicles • IFAC Newsletter articles 3 -4 times per year • Monthly IFAC Update to IFAC members, regional bodies, all committees, boards, and CAGs • IFAC annual report • IAASB annual report • Special reports (i. e. , Audit Risk, Audit Quality, Clarity Update)

COMMUNICATIONS VEHICLES

COMMUNICATIONS VEHICLES Growth in e. News Subscribers 2005 -2007

COMMUNICATIONS VEHICLES

WEBSITE IFAC Website • EDs and standards accessible throughout the site (free-of-charge) • Comment letters, meeting agendas, etc. , posted • Links to PIOB throughout site • New CAG pages launched

WEBSITE Website – PIAC Home Pages 2005 2006 Jan-Apr 2007 IAASB page views 170, 174 162, 404 82, 190 Education page views 19, 813 26, 049 12, 383 Ethics page 25, 235 views 29, 767 13, 738

WEBSITE – CAG HOME PAGE

WEBSITE – EDs Exposure Drafts (Jan 2005 -Apr 2007) • IAASB issued 23 exposure drafts/redrafted standards – 74, 100 copies downloaded – Received more than 700 comment letters • Education Board issued 4 exposure drafts – Over 12, 000 copies downloaded – Received 116 comment letters • Ethics Board issued 2 exposure drafts – Over 7, 300 copies downloaded – Received 101 comment letters

WEBSITE – EDs Exposure Drafts – Growth in Downloads

Top 5 Exposure Drafts (2006 – May 2007) Total Downloads 1. IAASB’s Proposed ISA 320 (Revised and Redrafted) and proposed ISA 450 (Redrafted) 7, 200 2. IAASB’s Improving the Clarity of IAASB Standards 6, 600 3. IAASB’s Proposed ISA 600 (Revised and Redrafted), Audit of Group Financial St. 5, 700 4. IAASB’s Proposed ISA 550 (Revised), Related Parties (issued Dec 31, 2005) 4, 100 5. IESBA’s Independence ED (Proposed Revisions to Section 290) 3, 800

Top 5 Exposure Drafts (2006 – May 2007) Comments Received 1. IAASB’s Proposed ISA 320 (Revised and Redrafted) and proposed ISA 450 (Redrafted) 46 2. IAASB’s Improving the Clarity of IAASB Standards 46 3. IAASB’s Proposed ISA 600 (Revised and Redrafted), Audit of Group Financial St. 50 4. IAASB’s Proposed ISA 550 (Revised), Related Parties (issued Dec 31, 2005) 42 5. IESBA’s Independence ED (Proposed Revisions to Section 290) 74

WEBSITE SURVEY Survey of Website Users • More than 1, 550 responses • Respondents represent 143 countries (India, UK, Pakistan, US and Nigeria were top 5) • Survey completed by staff accountants, partners in firms, academics, PAIBs, public sector accountants and others

WEBSITE SURVEY Web Survey – Topics of Most Interested • IFAC standard setting • Convergence • Auditor responsibility • Internal control/risk management • Ethics issues

WEBSITE TRANSLATION Website Translation Project • Translating core portions of website into the five languages of the UN (besides English) – Arabic 323 million speakers – Chinese 1, 051 million speakers – English 980 million speakers – French 350 million speakers – Russian 255 million speakers – Spanish 500 million speakers * First and second language speakers

WEBSITE TRANSLATION Website Translation – Going Forward • Posting or linking to translated technical pronouncements • Translation of IFAC copyright and translation policies • Goal is to establish website as global point of contact for translated IFAC pronouncements and resources

COMMUNICATIONS What’s Ahead • Translating monthly IFAC Update • IFAC’s 30 th anniversary • CAG survey in 2008 • IAASB communications strategy

International Federation of Accountants www. ifac. org Email: pr@ifac. org June 29, 2007