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.
Copyright © 2022 The International Federation of Accountants (IFAC). All rights reserved.
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
Related Resources
- 2015 Handbook of the Code of Ethics for Professional Accountants
- IESBA Strategy Survey 2022
- Proposed Quality Management-related Conforming Amendments to the Code
- Proposed Revisions to the Code Relating to the Definition of Engagement Team and Group Audits
- Proposed Technology-related Revisions to the Code
