Using the Work of an External Expert

The IESBA is committed to developing revisions to the Code to address the specific ethics and independence issues that might arise when experts work alongside professional accountants (PAs) in business (PAIBs) and in public practice (PAPPs), including in tax planning, technology-related activities and sustainability reporting and assurance. The objectives of the projects are to address:

• Ethics and independence provisions considerations for the use of an external expert in audit and assurance engagements;
• Ethics considerations regarding the involvement of an expert (both internal or external to the employing organization or firm) in the preparation and presentation of financial and non-financial information, including sustainability information, and other activities; and
• Ethics considerations regarding the involvement of an expert (both internal or external to the employing organization or firm) in the provision of other services (such as tax planning and technology-related activities). 

Although the scope of this project is broad, it will be progressed broadly in tandem with IESBA’s Sustainability Project given that the use of experts is critical in the preparation and presentation of sustainability information, including the assurance and audit of such information.

PROJECT CONTACT

Kam Leung

Joanna Bernard

TASK FORCE

Laurie Endsley, Chair, IESBA Vice Chair

Saadiya Adam, IESBA Member

Andrew Mintzer, IESBA Member

Luigi Nisoli, IESBA Member

IESBA December 2024 Meeting Highlights 

The IESBA unanimously approved the final revisions to the Code relating to Using the Work of an External Expert. The IESBA also discussed a draft Basis for Conclusions prepared by IESBA staff.

The IESBA agreed to align the effective date of the provisions with that of the IESSA and ethics standards relating to sustainability reporting.

Subject to certification by the Public Interest Oversight Board (PIOB), the final pronouncement is expected to be issued by the end of January 2025.