Proposed Changes to Certain Provisions of the Code Addressing Non-Assurance Services for Audit Clients

IESBA
May 20, 2014 | Exposure Drafts and Consultation Papers
24 Pages
English

Comments due by: Aug 18, 2014

The proposed changes aim to enhance the independence provisions in the Code of Ethics for Professional Accountants (the Code) by:

  • Providing additional guidance and clarification regarding what constitutes management responsibility, including enhanced guidance regarding how the auditor can better satisfy itself that client management will make all judgments and decisions that are the responsibility of management, when the auditor provides non-assurance services to an audit client; 

  • Providing better guidance and clarification on the concept of “routine or mechanical” services relating to the preparation of accounting records and financial statements for non-public interest entity audit clients; and

  • Removing the provision that permits an audit firm to provide certain bookkeeping and taxation services to public interest entity audit clients in emergency situations.

Please note: As of June 23, 2014, an editorial correction has been made to the ED. The mark-up section now shows the proposed deletion of paragraphs, 290.164, 290.174, and 291.145, which had inadvertently been omitted in the original. 

 

 

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Submitted Comment Letters

1. Audit Oversight Board, Securities Commission Malaysia  (Malaysia)
July 7, 2014

2. The Institute of Chartered Accountants of India (ICAI)  (India)
July 17, 2014

3. Federation of European Accountants (FEE)
July 24, 2014

4. ASSIREVI  (Italy)
July 31, 2014

5. Institut der Wirtschaftsprüfer in Deutschland e.V. (IDW)  (Germany)
August 4, 2014

6. ICAEW  (United Kingdom)
August 7, 2014

7. Malaysian Institute of Accountants  (Malaysia)
August 10, 2014

8. ISCA  (Singapore)
August 14, 2014

9. New York State Society of Certified Public Accountants  (United States)
August 14, 2014

10. Office of the Auditor-General of New Zealand  (New Zealand)
August 14, 2014

11. PwC  (United Kingdom)
August 14, 2014

12. The Malaysian Institute of Certified Public Accountants (MICPA)  (Malaysia)
August 14, 2014

13. Wirtschaftsprüferkammer (WPK)  (Germany)
August 14, 2014

14. Association of International Accountants  (United Kingdom)
August 15, 2014

15. Crowe Horwath International  (United States)
August 15, 2014

16. Grant Thornoton International  (United States)
August 15, 2014

17. IFAC Small and Medium Practices Committee  (United States)
August 15, 2014

18. IMA (Institute of Management Accountants)  (United States)
August 15, 2014

19. Mexican Institute of Public Accountants - Committee on Professional Ethics  (Mexico)
August 15, 2014

20. THE INSTITUTE OF CHARTERED ACCOUNTANTS [GHANA]  (Ghana)
August 15, 2014

21. New Zealand Auditing and Assurance Standards Board  (New Zealand)
August 17, 2014

22. The Institiute of Chartered Accountants of Bangladesh  (Bangladesh)
August 17, 2014

23. Accounting Professional & Ethical Standards Board  (Australia)
August 18, 2014

24. American Institute of CPAs  (United States)
August 18, 2014

25. Asociacion Interamericana de Contabilidad (AIC)  (United States)
August 18, 2014

26. Association of Chartered Certified Accountants  (United Kingdom)
August 18, 2014

27. CPA Canada  (Canada)
August 18, 2014

28. Ernst & Young Global Limited  (United Kingdom)
August 18, 2014

29. ICAS  (United Kingdom)
August 18, 2014

30. Independent Regulatory Board for Auditors  (South Africa)
August 18, 2014

31. Independent Regulatory Board for Auditors  (South Africa)
August 18, 2014

32. Institute of Certified Public Accountants of Kenya  (Kenya)
August 18, 2014

33. KPMGI  (United Kingdom)
August 18, 2014

34. Korean Institute of Certified Public Accountants  (Korea, Republic of)
August 18, 2014

35. Kreston International Limited  (United Kingdom)
August 18, 2014

36. National Audit Office  (United Kingdom)
August 18, 2014

37. PKF International Limited  (United Kingdom)
August 18, 2014

38. South African Institute of Chartered Accountants  (South Africa)
August 18, 2014

39. The Japanese Institute of Certified Public Accountants  (Japan)
August 18, 2014

40. ZICA  (Zambia)
August 18, 2014

41. Dubai Financial services Authority  (United Arab Emirates)
August 19, 2014

42. FAR - the Institute for the Accountancy Profession in Sweden  (Sweden)
August 19, 2014

43. Deloitte Touche Tohmatsu Limited (DTT)  (United States)
August 20, 2014

44. Moore Stephens LLP  (United Kingdom)
August 20, 2014

45. National Association of State Boards of Accountancy (NASBA)  (United States)
August 20, 2014

46. The Institute of Chartered Accountants of Pakistan - ICAP  (Pakistan)
August 20, 2014

47. United States Government Accountability Office  (United States)
August 20, 2014

48. Altaf Noor Ali Chartered Accountants  (Pakistan)
August 21, 2014

49. Association of National Accountants of Nigeria (ANAN)  (Nigeria)
August 21, 2014

50. CPA Australia  (Australia)
August 21, 2014

51. Compagnie Nationale des Commissaires aux Comptes (CNCC)  (France)
August 21, 2014

52. Mazars  (France)
August 21, 2014

53. Denise Silva Ferreira Juvenal  (Brazil)
August 24, 2014

54. Hong Kong Institute of Certified Public Accountants (HKICPA)  (Hong Kong (Special Administrative Region of China))
August 25, 2014

55. The Institute of Chartered Accountants of Sri Lanka  (Sri Lanka)
August 26, 2014

56. Colegio Contadores Publicos Costa Rica  (Costa Rica)
September 15, 2014

57. Financial Reporting Council (FRC)  (United Kingdom)
September 30, 2014

58. European Audit Inspection Group (EAIG)  (Europe )
October 2, 2014

59. International Organization of Securities Commissions (IOSCO)  (Spain)
October 6, 2014

 

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