Final Pronouncement: Revisions to the Code Pertaining to the Offering and Accepting of Inducements

IESBA
Jul 19, 2018 | Basis for Conclusions, Handbooks, Standards, and Pronouncements
41 Pages
English

All available Translations: English Spanish

Don't see your language? Request permission to translate

This standard sets out a comprehensive framework that covers all forms of inducement and is applicable to both professional accountants in business and professional accountants in public practice in situations involving the offering or accepting of an inducement.

The standard sets out clear expectations for all professional accountants to understand and comply with laws and regulations that prohibit the offering or accepting of inducements in certain circumstances, such as those related to bribery and corruption.  It also requires the application of an intent test where inducements are not specifically prohibited by law or regulation, and the application of the conceptual framework in all other circumstances. Enhanced guidance is provided to assist professional accountants in navigating the different situations.

The revised provisions comprise the last component of the revised and restructured Code of Ethics for Professional Accountants (including Independence Standards).

 

Copyright © 2019 The International Federation of Accountants (IFAC). All rights reserved.

 

Related Resources

 

Primary tabs

Thank you for your interest in our publications. These valuable works are the product of substantial time, effort and resources, which you acknowledge by accepting the following terms of use. You may not reproduce, store, transmit in any form or by any means, with the exception of non-commercial use (e.g., professional and personal reference and research work), translate, modify or create derivative works or adaptations based on such publications, or any part thereof, without the prior written permission of IFAC.

Our reproduction and translation policies, as well as our online permission request and inquiry system, are accessible on the Permissions Information web page.

For additional information, please read our website Terms of Use. ALL RIGHTS RESERVED.