Strengthening International Independence Standards
The International Ethics Standards Board for Accountants® (IESBA®) has released revisions to the Non-Assurance Services (NAS) and fee-related provisions of the International Code of Ethics for Professional Accountants (including International Independence Standards) (the Code). The revised NAS and fee-related provisions significantly strengthen the guardrails around auditor independence in two important areas that have the potential to create incentives influencing auditor behavior—non-assurance services provided to audit clients and fees.
The revisions are effective December 15, 2022.
Revisions to the Non-Assurance Services Provisions of the Code
The revised NAS provisions replace Section 600 of the Code and include conforming and consequential revisions to Sections 400, 525, 900 and 950.
Revisions to the Fee-related Provisions of the Code
The revised fee-related provisions replace Section 410 of the Code and include consequential and conforming amendments to Sections 120, 270, 320, 330, 400 and 905.
Learn More About the NAS and Fees Pronouncements
December 15, 2022
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