Exposure Draft, Proposed Revisions to Part 4B of the Code

To Reflect Terms and Concepts Used in ISAE 3000 (Revised)

Mar 27, 2019 | Exposure Drafts and Consultation Papers
62 Pages

Comments due by: Jun 26, 2019

This exposure draft seeks views from practitioners and other stakeholders in relation to proposed revisions to Part 4B of the revised and restructured International Code of Ethics for Professional Accountants (including International Independence Standards) to reflect terms and concepts used in International Standard on Assurance Engagements 3000 (Revised), Assurance Engagements Other than Audits or Reviews of Historical Financial Information.

The proposals in the Exposure Draft include:

  • Changes in key terminology, including a revised definition of the term “assurance client”;
  • Enhanced and clarified independence requirements for attestation engagements;
  • Clarification of the types of assurance engagement addressed in Part 4B;
  • Simplified guidance on assurance engagements that refers to the definitive source of explanatory material on such engagements in IAASB literature.

Copyright © 2023 The International Federation of Accountants (IFAC). All rights reserved.

Submitted Comment Letters

1. Financial Reporting Council  (United Kingdom)
May 2, 2019

2. Institute of Certified Public Accountants of Uganda  (Uganda)
June 17, 2019

3. Institute of Singapore Chartered Accountants  (Singapore)
June 18, 2019

4. The Institute of Internal Auditors
June 20, 2019

5. PricewaterhouseCoopers International
June 24, 2019

6. Institute of Chartered Accountants in England and Wales  (United Kingdom)
June 24, 2019

7. ICAS  (United Kingdom)
June 25, 2019

8. KPMG IFRG Limited
June 25, 2019

9. Deloitte Touche Tohmatsu Limited
June 26, 2019

10. U.S. Government Accountability Office  (United States)
June 26, 2019

11. Ernst & Young Global Limited
June 26, 2019

12. Asociacion Interamericana de Contabilidad AIC
June 26, 2019

13. ACCA
June 26, 2019

14. BDO  (United Kingdom)
June 26, 2019

15. CPA Canada  (Canada)
June 26, 2019

16. Conselho Federal de Contabilidade - Federal Accounting Council - CFC  (Brazil)
June 26, 2019

17. Institut der Wirtschaftspruefer in Deutschland e.V. (IDW)  (Germany)
June 26, 2019

18. Independent Regulatory Board for Auditors
June 26, 2019

19. Institute of Chartered Accountants of Pakistan  (Pakistan)
June 26, 2019

20. The Malaysian Institute of Certified Public Accountants (MICPA)  (Malaysia)
June 26, 2019

21. The New Zealand Auditing and Assurance Standards Board  (New Zealand)
June 26, 2019

22. Ibracon - Instituto dos Auditores Independentes do Brasil  (Brazil)
June 27, 2019

23. Grant Thornton International Ltd
July 1, 2019

24. Accountancy Europe
July 3, 2019

25. Accounting Professional & Ethical Standards Board (Australia)
July 8, 2019

26. Malaysian Institute of Accountants
August 7, 2019


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