Proposed Revisions to the Fee-related Provisions of the Code

IESBA

Jan 21, 2020 | Exposure Drafts and Consultation Papers

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Comments due by: Jun 4, 2020

Due to the COVID-19 pandemic the comment deadline is extended to June 4

The proposed revisions to the fee-related provisions of the code include:

A prohibition on firms allowing the audit fee to be influenced by the provision of services other than audit to the audit client;
In the case of PIEs, a requirement to cease to act as auditor if fee dependency on the audit client continues beyond a specified period; and
Communication of fee-related information to TCWG and to the public to assist their judgments about auditor independence.

The Fees ED also includes enhanced guidance on identifying, evaluating and addressing threats to independence in relation to other fee-related matters, including the proportion of fees for services other than audit to the audit fee.

Submitted Comment Letters

Porus Pavri (103.07 KB)
(United Arab Emirates)

Feb 4, 2020
UK Financial Reporting Council (1.02 MB)
(United Kingdom)

Mar 12, 2020
United States Government Accountability Office (138.62 KB)
(United States of America)

Apr 28, 2020
Office of the Auditor-General of New Zealand (512.56 KB)
(New Zealand)

May 4, 2020
National Board of Accountants & Auditors – Tanzania (485.38 KB)
(Tanzania, United Republic of)

May 4, 2020
Inter-American Accounting Association (376.48 KB)
()

May 4, 2020
Capital Market Authority in Saudi Arabia (111.56 KB)
(Saudi Arabia)

May 5, 2020
Committee of European Auditing Oversight Bodies (244.04 KB)
(France)

May 6, 2020
Institute of Chartered Accountants in England and Wales (205.54 KB)
(United Kingdom)

May 7, 2020
International Forum of Independent Audit Regulators (2.22 MB)
(Japan)

May 11, 2020
European Federation of Accountants and Auditors for SMEs (282.54 KB)
(Belgium)

May 13, 2020
National Association of State Boards of Accountancy (266.59 KB)
(United States of America)

May 15, 2020
New York State Society of CPAs (174.4 KB)
(United States of America)

May 20, 2020
Grant Thornton International Ltd. (223.54 KB)
(United States of America)

May 21, 2020
Institute of Chartered Accountants (Ghana) (1.81 MB)
(Ghana)

May 22, 2020
Wirtschaftsprüferkammer (246.53 KB)
(Germany)

May 25, 2020
Japan Audit & Supervisory Board Members Association (12.33 KB)
(Japan)

May 27, 2020
Nexia International (183.67 KB)
(United Kingdom)

Jun 1, 2020
Baker Tilly International (204.2 KB)
(United Kingdom)

Jun 1, 2020
Institute of Certified Public Accountants of Uganda (110.84 KB)
(Uganda)

Jun 2, 2020
Irish Auditing & Accounting Supervisory Authority (68 KB)
(Ireland)

Jun 2, 2020
Malaysian Institute of Certified Public Accountants (220.02 KB)
(Malaysia)

Jun 2, 2020
Institute of Chartered Accountants of India (199.55 KB)
(India)

Jun 3, 2020
KPMG IFRG Limited (84.77 KB)
(United Kingdom)

Jun 3, 2020
Crowe Global (136.86 KB)
(United States of America)

Jun 3, 2020
Deloitte Touche Tohmatsu Limited (206.68 KB)
(United States of America)

Jun 3, 2020
Japan Institute of Certified Public Accountants (178.64 KB)
(Japan)

Jun 3, 2020
Audit Oversight Board, Securities Commission Malaysia (758.18 KB)
(Malaysia)

Jun 3, 2020
Hong Kong Institute of Certified Public Accountants (333.67 KB)
(Hong Kong, Special Administrative Region of China)

Jun 3, 2020
New Zealand Auditing and Assurance Standards Board (263.96 KB)
(New Zealand)

Jun 4, 2020
Korean Institute of Certified Public Accountants (204.69 KB)
(Korea)

Jun 4, 2020
Association of the Italian audit firms (244.95 KB)
(Italy)

Jun 4, 2020
Chartered Accountants Australia and New Zealand and the Association of Chartered Certified Accountants (276.73 KB)
()

Jun 4, 2020
Accountancy Europe (95.8 KB)
(Belgium)

Jun 4, 2020
Institute for the Accountancy Profession in Sweden-FAR (95.93 KB)
(Sweden)

Jun 4, 2020
MALAYSIAN INSTITUTE OF ACCOUNTANTS (155.46 KB)
(Malaysia)

Jun 4, 2020
Moore Global (204.2 KB)
(United Kingdom)

Jun 4, 2020
US Center for Audit Quality (215.27 KB)
(United States of America)

Jun 4, 2020
Institut der Wirtschaftspruefer in Deutschland e.V. (IDW) (600.34 KB)
(Germany)

Jun 4, 2020
PricewaterhouseCoopers (PWC) (241.52 KB)
(United Kingdom)

Jun 4, 2020
Binder Dijker Otte (BDO) (194.73 KB)
(United Kingdom)

Jun 4, 2020
Institute of Chartered Accountants of Bangladesh (477.24 KB)
(Bangladesh)

Jun 4, 2020
Botswana Institute of Chartered Accountants (244.27 KB)
(Botswana)

Jun 4, 2020
Ernst & Young Global Limited (84.73 KB)
(United Kingdom)

Jun 4, 2020
RSM International (295.25 KB)
(United Kingdom)

Jun 4, 2020
Chartered Accountants Ireland (341.84 KB)
(Ireland)

Jun 4, 2020
Auditor-General of South Africa (234.02 KB)
(South Africa)

Jun 4, 2020
MAZARS (1.4 MB)
(France)

Jun 4, 2020
International Federation of Accountants (171.12 KB)
(United States of America)

Jun 4, 2020
International Organization of Securities Commissions (IOSCO) (3.48 MB)
(Spain)

Jun 4, 2020