Exposure Draft, Proposed Application Material Relating to Professional Skepticism and Professional Judgment
IESBA
May 11, 2017 | Exposure Drafts and Consultation Papers
English
Comments due by: Jul 25, 2017
This proposed guidance links key concepts in the IESBA Code of Ethics for Professional Accountants and clarifies their application, namely:
- how compliance with the fundamental principles in the Code supports professional skepticism by auditors and assurance practitioners for audit, review, and other assurance engagements; and
- the importance of professional accountants obtaining a sufficient understanding of the facts and circumstances known to them when exercising professional judgment in applying the conceptual framework underpinning the Code.
The proposed guidance addressing the fundamental principles and professional skepticism responds to a recommendation from the tripartite Professional Skepticism Working Group established by the IESBA, the International Auditing and Assurance Standards Board, and the International Accounting Education Standards Board. Once finalized, this material will be included in the clarified and restructured Code that the IESBA plans to complete by the end of 2017.
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Submitted Comment Letters
1. Crowe Horwath International
June 5, 2017
2. Financial Reporting Council (United Kingdom)
June 13, 2017
3. Institute of Chartered Accountants of India
July 7, 2017
4. Association of Accounting Technicians
July 12, 2017
5. New York State Society of Certified Public Accountants (United States)
July 14, 2017
6. RSM International
July 19, 2017
7. PricewaterhouseCoopers International
July 21, 2017
8. ICAS (Institute of Chartered Accountants of Scotland) (United Kingdom)
July 24, 2017
9. FEDERACION ARGENTINA DE CONSEJOS PROFESIONALES DE CIENCIAS ECONÓMICAS (Argentina)
July 24, 2017
10. IFAC Professional Accountants in Business Committee
July 24, 2017
11. KPMG International (United Kingdom)
July 24, 2017
12. Wirtschaftsprüferkammer (WPK) (Germany)
July 24, 2017
13. Asociacion Interamericana de Contabilidad AIC
July 24, 2017
14. Deloitte Touche Tohmatsu Limited
July 24, 2017
15. JICPA (Japan)
July 24, 2017
16. PKF International Limited
July 25, 2017
17. IFAC SMP Committee
July 25, 2017
18. BDO
July 25, 2017
19. Chartered Professional Accountants of Canada (Canada)
July 25, 2017
20. The South African Institute of Chartered Accountants (South Africa)
July 25, 2017
21. FSR - danske revisorer (Denmark)
July 25, 2017
22. Institut der Wirtschaftspruefer in Deutschland e.V. (IDW) (Germany)
July 25, 2017
23. Independent Regulatory Board for Auditors (IRBA) (South Africa)
July 25, 2017
24. U.S. Government Accountability Office
July 25, 2017
25. Association of Chartered Certified Accountants
July 25, 2017
26. KICPA (Korea, Republic of)
July 25, 2017
27. Hong Kong Institute of Certified Public Accountants (Hong Kong (Special Administrative Region of China))
July 26, 2017
28. Association of National Accountants of Nigeria (Nigeria)
July 26, 2017
29. SRA (Netherlands)
July 26, 2017
30. Institute of Chartered Accountants of Pakistan (Pakistan)
July 26, 2017
31. The Institute of Chartered Accountants in England and Wales (United Kingdom)
July 26, 2017
32. Accountancy Europe (Belgium)
July 26, 2017
33. The Malaysian Institute of Certified Public Accountants (Malaysia)
July 26, 2017
34. EY
July 27, 2017
35. Grant Thornton International
July 27, 2017
36. The New Zealand Auditing and Assurance Standards Board
July 27, 2017
37. Compagnie Nationale des Commissaires aux Comptes (France)
July 27, 2017
38. Institute of Chartered Accountants of Zimbabwe (Zimbabwe)
July 29, 2017
39. Chartered Accountants Australia and New Zealand (Australia)
August 1, 2017
40. (APESB) Accounting Professional & Ethical Standards Board Limited-Australia (Australia)
August 1, 2017
41. Instituto dos Auditores Independentes do Brasil (Brazil)
August 3, 2017
42. CPA Australia (Australia)
August 8, 2017
43. Chartered Accountants Ireland (Ireland)
August 30, 2017
Related Resources
- 2022 Handbook of the International Code of Ethics for Professional Accountants
- Briefing Note for Global Sustainability Roundtables
- Final Pronouncement: Revisions to the Code Relating to the Definition of Engagement Team and Group Audits
- Proposed Revisions to the Code Addressing Tax Planning and Related Services
- Revisions to the Definitions of Listed Entity and Public Interest Entity in the Code
