Ethical and Auditing Implications Arising from Government-Backed Covid-19 Business Support Schemes
IESBA
Jan 26, 2021 | Guidance & Support Tools
English
All available Translations: Romanian
This staff publication, jointly released by the Staff of UK Financial Reporting Council (FRC) and the IESBA, highlights ethical and auditing implications arising from government-backed business support programs which have been utilized at unprecedented levels during the COVID-19 pandemic.
The guidance sets out important ethical considerations for professional accountants who are called upon to assist their employing organizations or clients in applying for and using COVID-19-related funding or financial support. The document includes guidance for those who prepare related financial information and disclosures, as well as for those who independently audit or provide assurance services regarding such information.
Copyright © 2022 The International Federation of Accountants (IFAC). All rights reserved.
Related Resources
- 2015 Handbook of the Code of Ethics for Professional Accountants
- Benchmarking International Independence Standards
- IESBA Staff Q&A: Revised Fee-related Provisions of the Code
- IESBA Staff Q&A: Revised Non-Assurance Services Provisions of the Code
- Summary: Benchmarking the International Independence Standards
