1. Standard Setting – Input to Benchmarking
Kelly Ånerud, Deputy Director
International Federation of Accountants
INTOSAI Professional Standards Committee
Manama, Bahrain
May 20-22, 2014

2. Standard Setting Benchmarking – Elements of Interest to INTOSAI
International Standard Setting Boards
Standard Setting Benchmarking – Elements of Interest to INTOSAI
Stakeholders – how are views of external stakeholders taken into consideration?
Standards development – who develops the standards, who is doing the actual writing, how is the work organised, in what forums does the work take place, etc.?
Administrative support – what kind of administrative support is available to the people developing standards and how is it organised?

3. Standard Setting Benchmarking - Stakeholders
International Standard Setting Boards
Standard Setting Benchmarking - Stakeholders
Volunteer Board members - Annual Call for Nominations
Best person for the job
Balance practitioner, non-practitioner, public members, regional, gender
Technical Advisors (TAs) and other experts
Due process for standard setting (wide consultation, exposure etc.)
Extensive outreach – roundtables, forums, seminars, presentations

4. Standard Setting Benchmarking - Stakeholders
International Standard Setting Boards
Standard Setting Benchmarking - Stakeholders
Monitoring Group – public interest perspectives
Public Interest Oversight Board (PIOB) - ensures due process
Consultative Advisory Groups (CAG) - advises on strategy/work plan

5. Standard Setting Benchmarking - Oversight
International Standard Setting Boards
Standard Setting Benchmarking - Oversight

6. Standard Setting Benchmarking – Standards Development
International Standard Setting Boards
Standard Setting Benchmarking – Standards Development
Independent standard setting boards
Subject to due process and oversight
Meetings open to the public
Development of standards
Members, Technical Advisors, other experts, IFAC staff
Expectation attendance at meetings - Board / task forces
Significant annual time commitment
Annual evaluation of members

7. Standard Setting Benchmarking – Standards Development
International Standard Setting Boards
Standard Setting Benchmarking – Standards Development
Phased approach:
Project proposal / issues paper
Exposure draft / analysis of responses
Possible re-exposure
PIOB approves due process
Final standard published
On average 2- 3 years to complete

8. Standard Setting Benchmarking – Resources
International Standard Setting Boards
Standard Setting Benchmarking – Resources
Role of Chairman:
IAASB and IPSASB full-time roles
IESBA and IAESB significant part-time roles
Board members, Technical Advisors, other experts
Technical staff - approximately 20
Administrative staff - approximately 4 – 6
IFAC provides significant financing and infrastructure support (e.g. HR, IT, Communications, IP)

9. Thank you.