250/ New International Standard for auditors will improve data collection process
By Clare Naden on 3 December 2019
The plethora of accounting packages and/or Enterprise Resource Planning (ERP) systems in the market means auditors need more time and understanding to get all the information they need. A new standard has just been published that will help to make audit data collection more efficient and reliable for the entire industry.
ISO 21378, Audit data collection, aims to help auditors access and decipher audit data by standardizing the process of identification, classification and collection. It will facilitate the accessibility and transparency of audit data, standardize the collection process and avoid duplication of work. This should increase the efficiency of auditors, saving them valuable time and effort, as well as improving the effectiveness of the audit.
ISO 21378 defines a common framework for accounting data elements and provides the necessary information to extract what is relevant. It also provides a way of expressing the information consistently, regardless of the accounting package or ERP system used. It is applicable to data being extracted in areas such as general ledger, accounts receivable, sales, accounts payable, purchase, inventory, and property plant and equipment.
The new standard will come in useful for governments, internal and external auditors, auditees and related stakeholders, such as vendors of ERPs and accounting software.
ISO 21378 was developed by ISO technical committee ISO/TC 295, Audit data services, whose secretariat is held by SAC, ISO’s member for China. It is available for purchase from your national ISO member or through the ISO Store.
Source: iso.org
251/ Advanced Trade Policy Course concludes at the WTO
4 December 2019
Twenty-seven participants from around the world attended a two-month Advanced Trade Policy Course from 7 October to 29 November 2019 at the WTO headquarters in Geneva. The course was closed by H.E. Mr Peter Matt, Liechtenstein’s Permanent Representative to the WTO, and Mr Jorge Castro, Chief of the Course Design and Training Section of the WTO’s Institute for Training and Technical Cooperation.
H.E. Mr Matt and Mr Castro commended the participants for their hard work and active engagement and encouraged them to make good use of their enhanced knowledge and skills in trade policy-making back home.
The Advanced Trade Policy Course (ATPC) focused on developing and applying practical skills on trade-related issues, including: trade policy analysis, formulation and implementation; trade negotiations; dispute settlement; and trade monitoring. Both legal and economic aspects of WTO rules and disciplines were examined in a series of interactive sessions, including case studies, simulations and exercises. The course represents the highest level of training (level 3) for generalists in the WTO’s progressive learning framework.
Roundtable discussions with external experts, including Geneva-based delegates, provided a platform for practical exchanges, sharing of experiences and best practices, and debating present-day trade-related topics. To gain first-hand experience, participants attended some formal meetings of WTO committees and bodies. Participants also prepared and delivered a presentation relating to a trade policy topic.
Details of the ATPC are provided in the Course Booklet and the Final Programme.
List of participants
| Sayed Mujeeb HASHIMI | Afghanistan |
| Obakeng Precious MATSIETSA | Botswana |
| Mussie Mindaye HAILESILASSIE | Ethiopia |
| Ketevan BREGVADZE | Georgia |
| Rolando Mauricio ZUNIGA CRUZ | Honduras |
| Hamideh YAZDANI | Iran |
| Dayana ZHAKANOVA | Kazakhstan |
| Lebusetsa John PHOLOSI | Lesotho |
| Ezronn Mwanjakwa CHIRAMBO | Malawi |
| Aishath Samaha MUSTHAFA | Maldives |
| Naznin BUTONKEE | Mauritius |
| Olga VOLCOV | Republic of Moldova |
| Bolormaa Olkhonuud LKHAGVASUREN | Mongolia |
| Ashbin Kumar POKHAREL | Nepal |
| Uzoma Desmond IDU-ODAICHE | Nigeria |
| Khalid Ali Ameir AL HABSI | Oman |
| Yousaf RASOOL | Pakistan |
| Catherine ANTONIO | Philippines |
| Irina TASKAEVA | Russian Federation |
| Kathy Yolande Jolene JOHN | Saint Vincent and the Grenadines |
| Teuila Raenynn Morita MANULELEUA | Samoa |
| Miljana MANDIC | Serbia |
| Patricien Tjietrawatie BISOEN | Suriname |
| Yi-Chen WU | Chinese Taipei |
| Achara BOONYAWONGVIROT | Thailand |
| Joseph SSEMAKULA | Uganda |
| Nicolas Gustavo AQUESOLO LUPINACCI | Uruguay |
Source: wto.org
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