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

COMMUNICATIONS STRATEGY Understanding Knowledge

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

Communications about the IAASB COMMUNICATIONS STRATEGY Promotion VisibilityEducation Transparency

What We Promote The processThe process  The role of CAG The exposure draftThe exposure draft The commentsThe comments The standardThe standard  Its public interest value COMMUNICATIONS STRATEGY

Challenges 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 Across Media outreachMedia outreach SpokesmanshipSpokesmanship Meetings with stakeholdersMeetings with stakeholders Print and electronic communicationsPrint and electronic communications WebsiteWebsite COMMUNICATIONS STRATEGY

Media Outreach – Press Releases Internal audiencesInternal 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 pageAll press releases posted on the website and Newswires on each board’s home page MEDIA

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

Scottish Institute – “CA Magazine”

Interviews with IFAC Leadership

MEDIA Comparison of 2005/2006 Coverage

IFAC Media Coverage – Top 6 Areas MEDIA 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 Coverage Media Coverage MEDIA Total IFAC Coverage % on Auditing, Ethics and Education 2006: 977 articles 40% Jan-Apr 2007: 200 articles 43%

What the Media Said: Top Interests Auditor independenceAuditor independence ConvergenceConvergence Auditor liabilityAuditor liability Regulation of the professionRegulation of the profession IFAC initiativesIFAC initiatives MEDIA SURVEY

Spokesmanship Activities SPOKESMANSHIP Total Number of Speeches Given (including commitments to date) IFAC Officers 6945 PIAC Chairs 1213 Senior Staff 1214

Key Stakeholder Meetings IOSCOIOSCO Basel CommitteeBasel Committee European CommissionEuropean Commission Monitoring Group of regulatorsMonitoring Group of regulators STAKEHOLDERS

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

COMMUNICATIONS VEHICLES

Growth in eNews Subscribers COMMUNICATIONS VEHICLES

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

Website – PIAC Home Pages WEBSITE Jan-Apr 2007 IAASB page views 170,174162,40482,190 Education page views 19,81326,04912,383 Ethics page views 25,23529,76713,738

WEBSITE – CAG HOME PAGE

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

Exposure Drafts – Growth in Downloads WEBSITE – EDs

Top 5 Exposure Drafts (2006 – May 2007) Total Downloads 1. IAASB’s Proposed ISA 320 (Revised and Redrafted) and proposed ISA 450 (Redrafted) 7, IAASB’s Improving the Clarity of IAASB Standards 6, IAASB’s Proposed ISA 600 (Revised and Redrafted), Audit of Group Financial St. 5, IAASB’s Proposed ISA 550 (Revised), Related Parties (issued Dec 31, 2005) 4, 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) IAASB’s Improving the Clarity of IAASB Standards IAASB’s Proposed ISA 600 (Revised and Redrafted), Audit of Group Financial St IAASB’s Proposed ISA 550 (Revised), Related Parties (issued Dec 31, 2005) IESBA’s Independence ED (Proposed Revisions to Section 290) 74

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

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 Project WEBSITE TRANSLATION Translating core portions of website into the five languages of the UN (besides English)Translating core portions of website into the five languages of the UN (besides English) –Arabic323 million speakers –Chinese1,051 million speakers –English980 million speakers –French350 million speakers –Russian255 million speakers –Spanish500 million speakers * First and second language speakers

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

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

International Federation of Accountants June 29, 2007