Firm Culture and Governance

The objective of the project is to develop a culture and governance framework that promotes, supports and reinforces a high standard of ethical behavior by a firm's leadership, other partners, and staff across all of the firm’s services, thereby helping the firm develop a reputation as a highly ethical firm, mitigate the risks of unethical behavior and strengthen public trust and confidence in all of its services.

PROJECT FOCUS PAGE:

Website

IESBA June 2025 Meeting Highlights

The IESBA considered a presentation from Mr. David Rodin, Founder and Chair of Principia, and Mr. Clive Garfield, Principia’s Chief Executive Officer, on building and measuring ethical culture, including tools and tests to assess actions, and steps towards ethical decision-making. The IESBA also considered highlights of key comments from the Firm Culture & Governance (FCG) global roundtables and other stakeholder outreach in Q2 2025, as well as updates on coordination with the International Auditing and Assurance Standards Board (IAASB).

The IESBA supported the Project Team’s proposed revised strategic approach to the project, aligned with the IESBA’s revised overall forward strategy for 2025-2026. This revised approach includes a resequencing of the standard-setting and non-authoritative material (NAM) work streams, with a focus on the development of NAM and other supporting materials over the next 18 to 24 months whilst continuing to explore the best approach to the FCG framework.

As part of the re-sequencing, the IESBA agreed to develop a series of viewpoints on the eight elements of the FCG framework identified in the project proposal. Informed by further engagement with stakeholders on the proposed viewpoints from Q4 2025, the IESBA will consider the approach to the FCG framework at its June 2026 meeting.

The IESBA will consider a first draft of the viewpoints and the Project Team’s draft plan on the development of NAM and other supporting materials and initiatives at its September 2025 meeting.