International Federation of Accountants

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Information SharingInformation Sharing

Alex Hillman, Small and Medium Practices (SMP) Committee Member

IFAC SMP Forum 2009IFAC SMP Forum 2009

Beijing, ChinaBeijing, China

October 28, 2009October 28, 2009

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AgendaAgenda

• SMP/SME Objectives

• IFAC Website

• International Center for SMPs

• IFACnet

• Online SMP Networking Center

• Conclusion

Agenda

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SME/SMP ObjectivesSME/SMP Objectives

• Helping member bodies to help their SMPs

• Helping to shape form and content of international standards

• Provide practical support for SMPs

• Increase capacity of SMPs to perform high quality work through networking and web-based resources

• Help to remain relevant

SMP/SME Objectives

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IFAC WebsiteIFAC Website

• Expecting 600,000+ visitors

• 220+ countries in 2009

Overview

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IFAC WebsiteIFAC Website

• Global Financial Crisis Resource Center - http://www.ifac.org/financialcrisis

• Online exposure draft comments submission - http://www.ifac.org/Guidance/EXD-Outstanding.php

• Translations Database - http://www.ifac.org/Translations/

• IAASB Clarity Center - http://web.ifac.org/clarity-center/index

• IESBA Resources - http://www.ifac.org/Ethics/Resources.php

Recent Improvements

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IFAC WebsiteIFAC Website

• Significant redesign

• Enhanced publications section

– site navigation

– functionality

– accessibility

Future Developments

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International Center for SMPsInternational Center for SMPs

• See http://www.ifac.org/SMP/

• IFACnet portal

• SMP Committee activities

• Translation from English into 5 UN languages: Arabic, Chinese, Spanish, French, Russian

• Expecting 10,000+ visitors in 2009

Overview

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International Center for SMPsInternational Center for SMPs

• Free quarterly electronic newsletter

• Updates on IFAC projects, other global developments and special features

• 10,000+ subscribers within 2 years of launch

SMP eNews

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International Center for SMPsInternational Center for SMPs

• To free tools/guidance from member bodies and others

• Assurance/accounting, business support, practice management, business overseas, & IT

• To IFAC resources

– IAASB Clarity Center

– Translations Database

– Global Crisis Resource Center (SME/SMP)

Links

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International Center for SMPsInternational Center for SMPs

• SpeechesSpeeches

• Material from past eventsMaterial from past events

• SMP/SME Discussion BoardSMP/SME Discussion Board

– For exchanging views on topical issues (e.g., For exchanging views on topical issues (e.g., coping with credit crisis, client retention)coping with credit crisis, client retention)

– For eliciting input to draft IFAC standards For eliciting input to draft IFAC standards (e.g., alternative assurance services)(e.g., alternative assurance services)

Other

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International Center for SMPsInternational Center for SMPs

• Over 80 member bodies responded

• Main relevant survey findings

• Awareness/Usefulness of Existing Web-based Resources/Tools

– Useful but limited awareness

– How to help member bodies raise awareness? Via presentations, articles etc

SMP Survey

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International Center for SMPsInternational Center for SMPs

• Possible new web-based resources/tools

– Online database of materials supporting implementation of IFAC standards – strong support

– Online SMP networking center and online professional education center - less strong support

SMP Survey

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Online SMP Networking Center

• Communication between SMP to SMP and SMP to others

• Purpose

– Exchange of information and experience

– Backing for international clientele

– Answering technical queries

– Forming informal referral networks

Online SMP Networking Center

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IFACnetIFACnet

• See http://www.ifacnet.com

• Customized web search engine providing access to resources of IFAC & member bodies (40+)

• Non-member body websites (external providers):

– FEE, PIOB, IASB & IAAER included

– Others to follow soon

• Expecting 70,000+ visitors in 2009

• Member bodies & firms can link to it

Overview

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ConclusionConclusion

• Please see for yourself

• Please subscribe to SMP eNews

• Please communicate what we have to your members, colleagues etc.

• Please provide feedback

Conclusion

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ConclusionConclusion

Thank you

Alex Hillman,

Small and Medium Practices (SMP) Committee Member

International Federation of Accountants