1. International Federation of Accountants IFAC Translation Process and Status of Translations in the Region Jan Munro, Senior Technical Manager IFAC REPARIS Workshops on Accounting and Audit Regulation Vienna, Austria, March 14-15, 2006

2. IFAC Translation Process and Status of Translations in Region Responsibilities of Translating BodyResponsibilities of Translating Body Design and Implementation of Translation ProcessDesign and Implementation of Translation Process Key WordsKey Words Consideration of the Translating Body’s Translation Process Effective Dates and Publication of Translated Standards and GuidanceEffective Dates and Publication of Translated Standards and Guidance Translations in the RegionTranslations in the Region

3. Responsibilities of the Translating Body The translation plan should include:The translation plan should include: –Standards and guidance to be translated. –Language of translation. –Translation process. –Timeframe of the principal translator. –Procedures for maintaining the list of key words. –Budget.

4. Responsibilities of the Translating Body If translation is conducted jointly, plan includes a process for approval of the translation by all bodies. The plan to be revised as necessary through process.

5. Design & Implementation of Translation Process Complete text should be translated. Principal translator responsible for translation process, no omission or addition. Faithful translation respects the intent, tone and the organization of standards and guidance.

6. Key Words Key Words Intent of the original drafters important, not literal translation.Intent of the original drafters important, not literal translation. Key words to be used consistently - translation footnotes may be used.Key words to be used consistently - translation footnotes may be used. Consider publishing the list of key words.Consider publishing the list of key words.

7. Important Aspects of Translation Process Translation of key wordsTranslation of key words – –Principal translator establishes a translation group of native speakers, who have an excellent knowledge of English and are experienced in the use of IFAC standards, including the following: Current or past members or technical advisors of the IFAC board or committee whose standards or guidance are being translated.

8. Important Aspects of Translation Process (cont.) Individuals involved in, or affected by, the translation process. Professional accountants experienced in the use of the standards and guidance published by IFAC. – –Translation group reviews the principal translator’s translation of the key words. – –Where two Translating Bodies intend to or have translated IFAC standards, liaison is encouraged to reach agreement on the translation of the list of key terms.

9. Important Aspects of Translation Process (cont.) WhereWhere the principal translator uses another translator, matters to consider include the following: – –Professional competence of the other translator, i.e. professional qualifications, knowledge, translation skills in the specific language combination and ability to translate pronouncements in the field of ethics, auditing, assurance, education, accounting, etc. – –Reputation and infrastructure of the organization that the other translator is associated with. – –Past experience of working with the other translator.

10. Consideration of the Translating Body’s Translation Process Translation conducted in accordance with IFAC policy statement if: – –The translation plan has been prepared in accordance with IFAC policy statement, and: IFAC has considered and agreed to the plan prior to the commencement of the translation; and Where applicable, significant changes to the translation plan have been communicated to and agreed with IFAC.

11. Consideration of the Translating Body’s Translation Process (cont’d) – –Translation process has been implemented. – –Key words have been used as consistently as possible in the translation. – –A letter of representation is received from the Translating Body confirming the Translating Body’s compliance with the above. To avoid multiple translations into the same language, IFAC will use its best efforts to make Translating Bodies aware of other Translating Bodies’ intention to translate, or of the existence of translations in that language.

12. Effective Dates and Publication of Translated Standards and Guidance The translated standards and guidance cannot have an effective date later that the effective date of the English pronouncement. In the event of any dispute as to the meaning of a translated word or phrase, IFAC will refer to the English meaning thereof. In publishing the translated standards and guidance, Translating Bodies should follow the policies and procedures of IFAC, including those relating to copyright.

13. Translation Permissions Granted in the Region 2005 IFAC Handbook – Code of Ethics and ISAs Bulgaria, Poland, Romania, Serbia/Montenegro, Slovakia. 2005 IPSAS Czech Republic, Serbia/Montenegro. Earlier translations Bosnia and Herzegovina, Croatia, Czech Republic, FYROM, Poland, Serbia/Montenegro, Slovakia, Slovenia.