Benchmarking Initiative


The objective of the IESBA’s Benchmarking Working Group is to compare the International Independence Standards (IIS) that are applicable to PIEs (including the pending revisions arising from the Non-assurance Services and Fees Projects) to the relevant independence requirements that apply in major jurisdictions, starting first with the requirements of the US Securities and Exchange Commission and the US Public Company Accounting Oversight Board.

The initiative will serve to provide insights to stakeholders about the similarities and key differences between the IIS and independence requirements in major jurisdictions.



Project Stages

Board Papers

July 2020 March 2021 June 2021 September 2021 November-December 2021

Board Minutes

July 2020 March 2021 June 2021 September 2021 November-December (Available March 2022)

CAG Papers

March 2021

CAG Minutes

March 2021

IESBA November-December 2021 Meeting Highlights

The IESBA received an update from the Benchmarking Working Group on the Working Group’s Phase 1 work. Phase 1 involves comparing the IIS against the independence rules of the US Securities and Exchange Commission (SEC) and independence standards of the US Public Company Accounting Oversight Board (PCAOB). In particular, the IESBA was briefed on the revisions made to the draft report since the September 2021 draft, including those made to address the comments raised by IESBA members and representatives of the IESBA Consultative Advisory Group (CAG).

The IESBA will receive the final report and a related executive summary at its March 2022 meeting.


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