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IESBA Staff Releases FAQs on Revised Fee-related Provisions of IESBA Code

Jan 31, 2022 | New York, NY | English

The Staff of the International Ethics Standards Board for Accountants (IESBA) today released a set of frequently asked questions (FAQs) on the recently revised fee-related provisions of The International Code of Ethics for Professional Accountants (including International Independence Standards) (the Code)*. The FAQs have been informed by the extensive discussions and consultations with a wide range of stakeholder groups and the IESBA’s own deliberations during the development and finalization of the standard.

The publication is designed to highlight, illustrate or explain aspects of the revised fee-related provisions in the Code and thereby assist in their proper application. It is intended to complement the Basis for Conclusions for the final standard and assist national standards setters, professional accountancy organizations, and professional accountants in public practice (including firms) as they adopt and/or implement the revised provisions. The publication is also intended to assist regulators and audit oversight bodies, the corporate governance community, investors, preparers, educational bodies or institutions, and other stakeholders in understanding the revised standard and its application.


*The revised standard addresses a number of topics, including threats to independence created by fees paid by an audit client (including fees for services other than audit), fee dependency, and transparency of fee-related information to those charged with governance and to the public from an auditor independence perspective in the case of public interest entities. The revised standard becomes effective for audits of financial statements for periods beginning on or after December 15, 2022. Read the provisions here.