Exposure Draft, Proposed Revisions to Part 4B of the Code
To Reflect Terms and Concepts Used in ISAE 3000 (Revised)
IESBA
Mar 27, 2019 | Exposure Drafts and Consultation Papers
62 Pages
English
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.
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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
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