Exposure Draft, Proposed Revisions to the Code to Promote the Role and Mindset Expected of Professional Accountants

IESBA
Jul 31, 2019 | Exposure Drafts and Consultation Papers
38 Pages
English

Comments due by: Oct 31, 2019

This Exposure Draft proposes revisions to the International Code of Ethics for Professional Accountants (including International Independence Standards) that promote the role and mindset expected of professional accountants.

Among other matters, the proposals:

Highlight professional accountants’ wide-ranging role in society and the relationship between compliance with the Code and a professional accountant’s responsibility to act in the public interest;
Include enhancements to the robustness of the fundamental principles of integrity, objectivity and professional behavior;
Further strengthen the Code through requiring professional accountants to have an inquiring mind when applying the conceptual framework; and
Highlight the importance of being aware of bias and having the right organizational culture.

Comments are requested by October 31, 2019.

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Submitted Comment Letters

1. Institute of Chartered Accountants Of India (India)
September 16, 2019

2. Abu Dhabi Accountability Authority
September 26, 2019

3. United Kingdom Financial Reporting Council
October 1, 2019

4. The New Zealand Auditing and Assurance Standards Board (New Zealand)
October 10, 2019

5. Wirtschaftsprüferkammer (WPK) (Germany)
October 18, 2019

6. Crowe Global
October 22, 2019

7. National Association of State Boards of Accountancy
October 22, 2019

8. Deloitte Touche Tohmatsu Limited
October 29, 2019

9. Institute of Singapore Chartered Accountants (Singapore)
October 29, 2019

10. ICAS (United Kingdom)
October 29, 2019

11. Basel Committee on Banking Supervision
October 30, 2019

12. Accounting and audit Board of Ethiopia (Ethiopia)
October 30, 2019

13. The Japanese Institute of Certified Public Accountants (Japan)
October 30, 2019

14. Baker Tilly International
October 30, 2019

15. Hong Kong Institute of Certified Public Accountants (Hong Kong (Special Administrative Region of China))
October 30, 2019

16. FEDERACIÓN ARGENTINA DE CONSEJOS PROFESIONALES DE CIENCIAS ECONÓMICAS (Argentina)
October 30, 2019

17. BDO
October 30, 2019

18. RSM International
October 30, 2019

19. Grant Thornton International Limited
October 31, 2019

20. ACCA
October 31, 2019

21. IFAC Professional Accountants in Business Committee
October 31, 2019

22. ICAEW
October 31, 2019

23. CCAB (United Kingdom)
October 31, 2019

24. Botswana Institute of Chartered Accountants (Botswana)
October 31, 2019

25. Institute of Chartered Accountants of Nigeria
October 31, 2019

26. PricewaterhouseCoopers International Ltd
October 31, 2019

27. FAR (Sweden)
October 31, 2019

28. Institut der Wirtschaftspruefer in Deutschland e.V. (IDW) (Germany)
October 31, 2019

29. Chartered Professional Accountants of Canada - Public Trust Committee (Canada)
October 31, 2019

30. Institute of Certified Public Accountants of Uganda
October 31, 2019

31. South African Institute of Chartered Accountants (South Africa)
October 31, 2019

32. U.S. Government Accountability Office (United States)
October 31, 2019

33. Moore Global
October 31, 2019

34. Ernst & Young Global Limited
October 31, 2019

35. Independent Regulatory Board for Auditors (IRBA) (South Africa)
October 31, 2019

36. Chartered Accountants Australia and New Zealand (Australia, New Zealand)
October 31, 2019

37. KPMG IFRG Limited
October 31, 2019

38. IFAC SMP Committee
November 1, 2019

39. Accountancy Europe
November 4, 2019

40. Professor Sir Andrew Likierman, London Business School
November 5, 2019

41. Royal NBA, the Netherlands Institute of Chartered Accountants (Netherlands)
November 5, 2019

42. CPA Australia Ltd.
November 6, 2019

43. Ibracon - Instituto dos Auditores Independentes do Brasil (Brazil)
November 11, 2019

44. Accounting Professional & Ethical Standards Board (Australia) (Australia)
November 15, 2019

45. Malaysian Institute of Accountants (Malaysia)
November 19, 2019

46. Iranian Association of Certified Public Accountants (IACPA) (Iran (Islamic Republic of))
December 1, 2019

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