Fees

Objective

The objective of the IESBA’s Fees project is to review the provisions in the International Code of Ethics for Professional Accountants (including the International Independence Standards) (the Code) pertaining to fee-related matters. The project is responsive to a public interest need for IESBA to deal with fee-related matters, including those that impact or are perceived to impact auditor independence – both independence of mind and independence in appearance.  

The project was informed by extensive fact-finding, which include research performed by an academic and a global stakeholder survey on the topic of fees. The results of this fact-finding is summarized in a final report which was considered by the IESBA in June 2018.

PROJECT CONTACT

TASK FORCE

Project Stages

Information Gathering Project Proposal Consultation Paper / Exposure Draft Approved
Summary
IESBA December 2020 Meeting Highlights

The IESBA approved revisions to the fee-related provisions of the Code.

Subject to PIOB approval, the final Fees pronouncement is expected to be released by late April 2021 and will be effective for audits and reviews of financial statements for periods beginning on or after December 15, 2022.

 

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