Benchmarking International Independence Standards
Phase 1 Report - Comparison of IESBA and US SEC/ PCAOB Independence Frameworks
May 06, 2022 | Guidance & Support Tools
The staff of the International Ethics Standards Board for Accountants’ (IESBA) has completed a study comparing the provisions of International Code of Ethics for Professional Accountants (including International Independence Standards) — in particular the independence provisions applicable to audits of financial statements of public interest entities (PIEs)—with the relevant rules of the U.S. Securities and Exchange Commission (SEC) and the US Public Company Accounting Oversight Board (PCAOB). The study focuses primarily on the SEC rules and includes a reference to the PCAOB's independence requirements only where those requirements are incremental.
The Report reflects the IESBA Staff's understanding of the respective frameworks being compared, and incorporates input received from the IESBA's Benchmarking Working Group.
Copyright © 2023 The International Federation of Accountants (IFAC). All rights reserved.
- 2021 Handbook of the International Code of Ethics for Professional Accountants
- IESBA Strategy and Work Plan 2019-2023
- Final Pronouncement: Revisions to the Definitions of Listed Entity and Public Interest Entity in the Code
- Final Pronouncement: Revisions to the Non-Assurance Service Provisions of the Code
- Final Pronouncement: Revisions to the Fee-related Provisions of the Code
- Final Pronouncement: Objectivity of Engagement Quality Reviewer and Other Appropriate Reviewers
- 2022 Handbook of the International Code of Ethics for Professional Accountants
You must be signed in to the IFAC website in order to submit a comment. If you do not have an account, please register below. IFAC respects your privacy and will not send you unsolicited email or spam. You can subscribe to IFAC publications, change your subscription preferences, or manage your user profile at any time.
Get the latest updates delivered to your inbox
Translations & Permissions
Looking to reproduce the standards for your members? Want to include IFAC's publications in your training materials or university course? Learn how we can help.