Proposed Revision to the Code Addressing the Objectivity of Engagement Quality Reviewers

Jan 30, 2020 | Exposure Drafts and Consultation Papers

Comments due by: Mar 16, 2020

The Exposure Draft includes proposed guidance on the application of the conceptual framework in the Code to address the topic of the objectivity of an engagement quality reviewer (EQR), thereby supporting proposed ISQM 2 in addressing the matter of the eligibility of an individual to serve in an EQR role. In particular, the proposed guidance:

  • Explains the different types of threat to compliance with the fundamental principle of objectivity that might be created in circumstances where an individual is being considered for appointment as an EQR for a given engagement;
  • Sets out factors to consider in evaluating the level of the identified threats; and
  • Suggests actions that might be safeguards to address the threats.

The development of the proposal benefited from cooperation with the IAASB within the established coordination framework of the two Boards. The IESBA is proceeding on an accelerated time frame to finalize the proposal in order to align closely with the anticipated finalization of ISQM 2 within 2020.  

Comments on the Exposure Draft are requested by March 16, 2020 from all stakeholders.


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

Submitted Comment Letters

1. Financial Reporting Council  (United Kingdom)
March 9, 2020

2. Institute of Public Accountants
March 9, 2020

3. ICAEW  (United Kingdom)
March 11, 2020

4. Institute of Singapore Chartered Accountants (ISCA)  (Singapore)
March 12, 2020

5. New York State Society of Certified Public Accountants  (United States)
March 13, 2020

6. The Institute of Chartered Accountants of Scotland  (United Kingdom)
March 13, 2020

7. KPMG International
March 13, 2020

8. Baker Tilly International
March 13, 2020

9. Deloitte Touche Tohmatsu Limited
March 13, 2020

10. U.S. Government Accountability Office
March 13, 2020

11. Auditor-General of South Africa  (South Africa)
March 16, 2020

12. KICPA  (Korea, Republic of)
March 16, 2020

13. CPA Canada, Public Trust Committee
March 16, 2020

14. The Malaysian Institute of Certified Public Accountants (MICPA)  (Malaysia)
March 16, 2020

March 16, 2020

16. South African Institute of Chartered Accountants  (South Africa)
March 16, 2020

17. BDO
March 16, 2020

18. Botswana Institute of Chartered Accountants  (Botswana)
March 16, 2020

March 16, 2020

20. PricewaterhouseCoopers International Limited
March 16, 2020

21. Crowe Global
March 16, 2020

22. Moore Global
March 16, 2020

23. Ernst & Young Global Limited
March 16, 2020

24. Institut der Wirtschaftspruefer in Deutschland e.V. (IDW)  (Germany)
March 16, 2020

25. Japanese Institute of Certified Public Accountants  (Japan)
March 18, 2020

26. ICPAK  (Kenya)
March 18, 2020

27. IBRACON  (Brazil)
March 23, 2020

March 23, 2020

29. Independent Regulatory Board for Auditors
March 23, 2020

30. New Zealand Auditing and Assurance Standards Board
March 24, 2020

31. Grant Thornton International Limited
March 24, 2020

March 26, 2020

33. Accounting Professional & Ethical Standards Board Limited (APESB)
March 27, 2020

34. Wirtschaftspr├╝ferkammer  (Germany)
April 1, 2020

35. Accountancy Europe
April 3, 2020

April 13, 2020

37. CPA Australia Ltd
April 20, 2020

38. Audit Oversight Board, Securities Commission Malaysia  (Malaysia)
May 5, 2020


Related Resources


Get the latest updates delivered to your inbox

Subscribe now


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.

IP permissions and policies


Primary tabs

Thank you for your interest in our publications. These valuable works are the product of substantial time, effort and resources, which you acknowledge by accepting the following terms of use. You may not reproduce, store, transmit in any form or by any means, with the exception of non-commercial use (e.g., professional and personal reference and research work), translate, modify or create derivative works or adaptations based on such publications, or any part thereof, without the prior written permission of IFAC.

Our reproduction and translation policies, as well as our online permission request and inquiry system, are accessible on the Permissions Information web page.

For additional information, please read our website Terms of Use. ALL RIGHTS RESERVED.